Morning Coffee Pre-Market Wall Street News

Hostess Brands Sold. Yesterday bids to buy bankrupt Hostess Brands where due by 5:00 pm and only one bid was submitted. Hostess will sell its snack-cake business to bidders Apollo Global Management (APO) and food executive Dean Metropoulos.  Apollo and Metropoulos had submitted a winning bid of $410 million back in January.

Upgrades

Dicks Sporting Goods (DKS): Goldman Sachs raised their rating from Buy to Conviction Buy and raised their target price from $53.00 to $56.00. Pre-market: 46.00 +0.89 (1.97%)

Dicks Sporting Goods (DKS): BMO Capital raised their rating from Market Perform to Outperform and maintained a target price of $57.00.  Pre-market: 46.00 +0.89 (1.97%)

Mosaic (MOS): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $62.00 to $72.00. Pre-market: 62.07 +0.57 (0.93%)

Sherwin-Williams (SHW): Credit Suisse raised their rating from Underperform to Neutral and raised their target price from $161.00 to $175.00. Pre-market: 168.42 +0.69 (0.41%)

Downgrades

Agrium (AGU): BMO Capital lowered their rating from Outperform to Market Perform and maintained their target price of $120.00.

CVS Caremark (CVS): Goldman Sachs lowered their rating from Buy to Neutral and maintained their target price of $57.00. Pre-market: 52.15 -0.48 (-0.91%)

Infosys Ltd (INFY): Susquehanna lowered their rating from Neutral to Negative and placed a target price of $38.00 on the company.

PVH Corp (PVH): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $127.00 to $124.00.

Radio Shack (RSH): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $2.95 to $2.75. Pre-market: 3.34 -0.14 (-4.02%)

Coverage Initiated

Best Buy (BBY): Goldman Sachs initiated coverage with a Buy rating and target price of $25.00. Pre-market: 20.22 +0.14 (0.70%)

Pandora Media (P): Pacific Crest initiated coverage with an Outperform rating and target price of $17.00. Pre-market: 13.70 -0.04 (-0.29%)

Earning Reports:

Chiquita Brands (CQB): Reported EPS of -7.20 missing estimates by -6.86. After Hours: 6.95 +0.20 (2.96%)

Costco (COST): Reported EPS of $1.00 beating estimates by +$0.05. Pre-market: 104.00 +1.56 (1.52%)

Diamond Foods (DMND): Reported EPS of $0.05 missing estimates by -0.03%. Pre-market: 16.48 -1.12 (-6.36%)

Urban Outfitters (URBN): Reported EPS of $0.56 missing estimates by -0.01. Pre-market: 40.03 -1.47 (-3.54%)

Markets: 
Futures at 7:45: Dow -0.19%. S&P -0.20%. Nasdaq -0.27%. Crude +0.03% to $92.09. Gold +0.91% to $1592.40.

Europe: London +0.06%. Paris -0.02%. Frankfurt -0.09%. 

Asia: Japan -0.28% to 12315. Hong Kong -0.87% to 22891. China -1.04% to 2287. India -0.41% to 19565.