Morning Coffee Pre-Market Wall Street News

Americans Head To Polls.  After months of campaigning, Americans will be heading to the polls to vote today.  Lines are expected to be long and tensions are high as Americans decide which direction America will take.  The stock market is expected to take a wait and see approach today, but certain areas of the market could rally depending upon whether President Obama or Gov. Mitt Romney wins the election. Sectors that could possibly rally if President Obama wins include healthcare services, homebuilding, and food and staples retailing. While the banks sector is expected to decline. If Mitt Romney becomes the next President sectors that are expected to rally include coal, specialty retail, managed care and telecommunications services.

Upgrades

Lam Research (LRCX): Susquehanna raised their rating from Neutral to Positive and raised their target price from $32.00 to $48.00.

Downgrades

Express Scripts (ESRX): Jefferies lowered their rating from Buy to Hold and lowered their target price from $70.00 to $56.00. Pre-market: 55.05 -7.83 (-12.45%)

Coverage Initiated

Kraft Foods Group (KRFT): Canaccord initiated coverage with a Buy rating and target price of $50.00. Pre-market: 44.95 +0.18 (0.40%)

Ross Stores (ROST): Credit Suisse initiated coverage with a Neutral rating and target price of $60.00.

TJX Cos. (TJX): Credit Suisse initiated coverage with a Neutral rating and target price of $45.00.

Stein Mart (SMRT): Credit Suisse initiated coverage with a Outperform rating and target price of $10.00.

Mondelez Intl (MDLZ): Canaccord initiated coverage with a Sell rating and target price of $24.00. Pre-market: 26.04 -0.37 (-1.40%)

Earning Reports

AOL (AOL): Reported EPS of $0.22 beating estimates by +$0.02. Pre-market: 36.90 +1.09 (3.04%)

CVS Caremark (CVS): Reported EPS of $0.85 beating estimates by +$0.01. Pre-market: 47.74 +1.11 (2.38%)

DIRECTV (DTV): Reported EPS of $0.90 missing estimates by -$0.04.

Dish Network (DISH): Reported EPS of -$0.35 missing estimates by -$0.91. Pre-market: 32.52 -2.31 (-6.63%)

Echostar Holdings (SATS): Reported EPS of $0.26 beating estimates by +$0.14.

Fossil (FOSL): Reported EPS of $1.26 beating estimates by +$0.09. Pre-market: 85.09 -9.01 (-9.57%)

International Flavors (IFF): Reported EPS of $1.08 in-line with estimates.

Marathon Oil (MRO): Reported EPS of $0.64 in-line with estimates.

Office Depot (ODP): Reported EPS of $0.06 beating estimates by +$0.05.

OfficeMax (OMX): Reported EPS of $0.27 beating estimates by +$0.02. Pre-market: 7.44 0.00 (0.00%)

Tidewater (TDW): Reported EPS of $0.83 beating estimates by +$0.11.

Markets: 
Futures at 7:12: Dow +0.28%. S&P +0.25%. Nasdaq +0.39%. Crude +0.54% to $86.15. Gold +0.56% to $1692.50.

Europe: London +0.57%. Paris +0.48%. Frankfurt +0.56%. 

Asia: Japan -0.36% to 8975. Hong Kong -0.28% to 21944. China -0.38% to 2106. India +0.29% to 18817.