Morning Coffee Pre-Market Wall Street News

Netflix Shares Soar. Shares of movie rental company Netflix (NFLX) are soaring in the pre-market after the company reported EPS better than expected. Netflix swung to a net profit of $2.7M from a loss of $4.6M with EPS coming in at $0.31.  Revenues at the company also rose 17% to $1.02B. Net domestic streaming subscribers rose 2.03M to 29.2M. Pre-market: 216.99 +42.62 (24.44%)

Apple Investors Wait For Earnings. Apple's (AAPL) is scheduled to report FQ2 earnings after the market close today. Wall Street analysts are expecting that EPS fell to $10.00 from $12.30, with revenues rising 4.7% to $42.59B. The company’s share price has fallen over 25% year to date as demand for their products have fallen and Android phone continue to gain in popularity. Pre-market: 402.75 +4.08 (1.02%)

Upgrades

Caterpillar (CAT): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $93.00 to $100.00. Pre-market: 83.89 +1.18 (1.43%)

Chubb (CB): William Blair raised their rating from Underperform to Market Perform. Pre-market: 87.65 0.00 (0.00%)

INVESCO (IVZ): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $31.00 to $34.00.

Morgan Stanley (MS): SunTrust raised their rating from Neutral to Buy and raised their target price from $24.00 to $25.00. Pre-market: 21.00 +0.29 (1.40%)

Downgrades

Sempra Energy (SRE): ISI Group lowered their rating from Buy to Neutral.

Western Union (WU): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $15.00 to $14.50.

Yum! Brands (YUM): BofA Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $80.00 to $60.00. Pre-market: 64.45 -0.81 (-1.24%)

Coverage Initiated

Ross Stores (ROST): Cowen initiated coverage with an Outperform rating. Pre-market: 63.00 0.00 (0.00%)

TJX Cos. (TJX): Cowen initiated coverage with an Outperform rating. After Hours: 47.14 0.00 (0.00%)

Earning Reports

Arch Coal (ACI): Reported EPS of -$0.33 missing estimates by -$0.01. Pre-market: 4.93 +0.04 (0.82%)

Brinker (EAT): Reported EPS of $0.72 beating estimates by +0.03. Pre-market: 38.68 -0.15 (-0.39%)

CIT Group (CIT): Reported EPS of $0.81 missing estimates by $0.06.

Coach (COH): Reported EPS of $0.84 beating estimates by +0.04. Pre-market: 57.50 +6.91 (13.66%)

DuPont (DD): Reported EPS of $1.56 beating estimates by +0.04. Pre-market: 50.75 +0.34 (0.67%)

Forest Labs (FRX): Reported EPS of $0.25 beating estimates by +0.09.

Lockheed Martin (LMT): Reported EPS of $2.33 beating estimates by +0.29. Pre-market: 101.00 +5.15 (5.37%)

Netflix (NFLX): Reported EPS of $0.31 beating estimates by +0.09. Pre-market: 216.99 +42.62 (24.44%)

Ryder System (R): Reported EPS of $0.81 beating estimates by +0.04.

Synovus Financial (SNV): Reported EPS of $0.02 in-line with estimates. Pre-market: 2.58 +0.04 (1.57%)

Swift Transportation (SWFT): Reported EPS of $0.21 beating estimates by +0.05. Pre-market: 14.16 +0.59 (4.35%)

Texas Instruments (TXN): Reported EPS of $0.32 in-line with estimates. Pre-market: 34.95 +0.14 (0.40%)

Travelers (TRV): Reported EPS of $2.33 beating estimates by +0.30. Pre-market: 88.02 +3.44 (4.07%)

Markets: 
Futures at 7:39: Dow +0.35%. S&P +0.16%. Nasdaq +0.40%. Crude -0.73% to $88.54. Gold +0.07% to $1422.40.

Europe: London +1.16%. Paris +2.34%. Frankfurt +1.36%. 

Asia: Japan -0.29% to 13530. Hong Kong -1.08% to 21807. China -2.57% to 2185. India +0.81% to 19179.