Morning Coffee Pre-Market Wall Street News

Boeings 787 Dreamliners Grounded. Boeing (BA) has had yet another incident with it’s new 787 Deamliner. Japan has grounded the plans for safety inspections after an ANA plane was forced to do an emergency landing after the pilots received a battery-fault warning and smelled smoke.  The incident is the latest in a series of problems over the past several days, including fuel leaks and a battery fire. The FAA is also looking into the resent Dreamliner issues. Pre-market: 73.75 -3.19 (-4.15%)

Upgrades

Deutsche Bank (DB): Macquarie raised their rating from Underperform to Neutral. Pre-market: 48.10 -1.10 (-2.24%)

Downgrades

Apple (AAPL): Pacific Crest lowered their rating from Outperform to Sector Perform and lowered their target price from $550.00 to $440.00. Pre-market: 493.43 +7.51 (1.55%)

Kellogg (K): Credit Suisse lowered their rating from Neutral to Underperform and placed a target price of $55.00 on the company. Pre-market: 56.55 -0.57 (-1.00%)

Boeing (BA): Goldman Sachs lowered their rating from Conviction Buy to Buy and lowered their target price from $98.00 to $90.00. Pre-market: 73.75 -3.19 (-4.15%)

Wells Fargo (WFC): Atlantic Equities lowered their rating from Overweight to Neutral and lowered their target price from $40.00 to $38.00. Pre-market: 35.00 -0.11 (-0.31%)

Yelp (YELP): Northland Securities lowered their rating from Market Perform to Underperform and lowered their target price from $18.00 to $16.50. Pre-market: 20.11 -0.50 (-2.43%)

Dell (DELL): Argus lowered their rating from Buy to Hold. Pre-market: 12.76 -0.41 (-3.08%)

Coverage Initiated

AbbVie (ABBV): Jefferies initiated coverage with a Buy rating and target price of $44.00. Pre-market: 34.36 -0.24 (-0.69%)

AbbVie (ABBV): Wells Fargo initiated coverage with an Outperform rating and target range of $37.00 - $40.00. Pre-market: 34.36 -0.24 (-0.69%)

Earning Reports

Goldman Sachs (GS): Reported EPS of $5.60 beating estimates by +$1.96. Pre-market: 138.02 +2.43 (1.79%)

Comerica (CMA): Reported EPS of $0.68 beating estimates by +$0.02.

BNY Mellon (BK): Reported EPS of $0.53 in-line with estimates. Pre-market: 26.00 -0.78 (-2.91%)

First Republic Bank (FRC): Reported EPS of $0.77 beating estimates by +$0.11.

JPMorgan Chase (JPM): Reported EPS of $1.39 beating estimates by +$0.20. Pre-market: 45.94 -0.41 (-0.88%)

Northern Trust (NTRS): Reported EPS of $0.71 missing estimates by -$0.04.

US Bancorp (USB): Reported EPS of $0.75 beating estimates by +$0.01. Pre-market: 33.00 -0.28 (-0.84%).

Wendy’s (WEN): Reported EPS of $0.08 beating estimates by +$0.04. Pre-market: 4.97 +0.07 (1.43%)

Markets: 
Futures at 7:14: Dow -0.35%. S&P -0.25%. Nasdaq +0.03%. Crude -0.11% to $93.29. Gold -0.53% to $1675.00.

Europe: London -0.60%. Paris -0.31%. Frankfurt -0.35%. 

Asia: Japan -2.56% to 10600. Hong Kong -0.10% to 23357. China -0.70% to 2310. India -0.85% to 19818.