Morning Coffee Pre-Market Wall Street News

AB InBev to Fight DOJ. AB InBev (BUD) has said that the company will "vigorously contest" a Department of Justice's lawsuit. The suit contends that AB InBev’s $20 billion deal to acquire Mexican beer company Modelo (GPMCY), would lead to too much consolidation in the U.S. beer sector and cause price increases. Pre-market: 88.90 -3.38 (-3.66%)

Upgrades

Norfolk Southern (NSC): Dahlman Rose raised their rating from Hold to Buy and placed a target price of $82.00 on the company.

Daimler AG (DDAIF): HSBC Securities raised their rating from Neutral to Overweight. After Hours: 59.69 +0.02 (0.03%)

Tyson Foods (TSN): CLSA raised their rating from Underperform to Buy and raised their target price from $20.00 to $30.00.

Yahoo! (YHOO): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $25.00 on the company.

Downgrades

Chevron (CVX): UBS lowered their rating from Buy to Neutral. Pre-market: 115.40 -1.10 (-0.94%)

Leapfrog (LF): Ascendiant Capital Markets lowered their rating from Strong Buy to Buy and lowered their target price from $15.00 to $12.00.

Merck (MRK): Leerink lowered their rating from Outperform to Market Perform and placed a target range of $46.00 - $47.00 on the company. Pre-market: 41.28 -0.55 (-1.31%)

Wal-Mart (WMT): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $84.00 to $75.00. Pre-market: 69.88 -0.61 (-0.87%)

Hershey (HSY): Goldman Sachs lowered their rating from Conviction Buy to Neutral and lowered their target price from $86.00 to $84.00. Pre-market: 79.28 -0.86 (-1.07%)

Coverage Initiated

Sprint Nextel (S): Cowen initiated coverage with a Neutral rating. Pre-market: 5.65 -0.04 (-0.70%)

Coverage Reiterated/Price Target Changed 

Walt Disney (DIS): Wunderlich reiterated their Hold rating and raised their target price from $50.00 to $58.00.

Earning Reports

Humana (HUM): Reported EPS of $1.19 beating estimates by +$0.12. Pre-market: 75.35 0.00 (0.00%)

Sysco (SYY): Reported EPS of $40.00 missing estimates by -$0.01. Pre-market: 32.42 +0.33 (1.03%)

Markets: 
Futures at 7:26: Dow -0.22%. S&P -0.28%. Nasdaq -0.10%. Crude -0.92% to $96.85. Gold -0.43% to $1663.90.

Europe: London -0.90%. Paris -1.04%. Frankfurt -0.80%. 

Asia: Japan +0.62% to 11260. Hong Kong -0.16% to 23685. China +0.38% to 2428. India -0.15% to 19751.