Morning Coffee Pre-Market Wall Street News

Job Growth Expected to Slow. U.S. July unemployment data is due to be released this morning and economists expect that the number will show that job growth has slowed. Wall Street estimates are that nonfarm payrolls rose by 185,000 vs 195,000 in June. Wall Street is also expecting that the unemployment rate will tick down from 7.6% to 7.5%, which would be a four-year low. The data comes on the heels of yesterday’s report that showed weekly jobless claims fell to a 5 1/2 year low.

Upgrades:

Honda Motor (HMC): Credit Suisse raised their rating from Neutral to Outperform.

LinkedIn (LNKD): Cantor raised their rating from Hold to Buy and raised their target price from $170.00 to $250.00. Pre-market: 233.51 +20.51 (9.63%)

ResMed (RMD): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $46.00 to $54.00.

Downgrades:

Automatic Data Processing (ADP): Susquehanna lowered their rating from Positive to Neutral and placed a target price of $78.00 on the company.

Broadcom (BRCM): UBS lowered their rating from Buy to Neutral and lowered their target price from $35.00 to $30.00. Pre-market: 27.47 -0.16 (-0.58%)

Mosaic (MOS): UBS lowered their rating from Buy to Neutral and lowered their target price from $67.00 to $40.00.

Mylan (MYL): Needham lowered their rating from Strong Buy to Buy and placed a target price of $40.00 on the company. Pre-market: 35.00 +1.02 (3.00%)

Coverage Initiated:

Dynergy (DYN): Drexel Hamilton initiated coverage with a Buy rating and target price of $27.00.

Electronic Arts (EA): Benchmark Co initiated coverage with a Buy rating and target price of $30.84. Pre-market: 26.53 0.00 (0.00%)

NRG Energy (NRG): Drexel Hamilton initiated coverage with a Buy rating and target price of $38.00.

Earning Reports:

Chevron (CVX): Reported EPS of -$2.77 missing estimates by -$0.21. Pre-market: 125.50 -0.94 (-0.74%)

Church & Dwight (CHD): Reported EPS of $0.61 beating estimates by +$0.01.

Eaton (ETN): Reported EPS of $1.09 missing estimates by -$0.02. Pre-market: 67.00 -2.93 (-4.19%)

Edison (EIX): Reported EPS of $0.79 beating estimates by +$0.11.

Kraft Foods (KRFT): Reported EPS of $0.85 beating estimates by +$0.19. Pre-market: 57.40 +0.26 (0.46%)

Leap Wireless (LEAP): Reported EPS of -$2.09 missing estimates by -$0.97.

LinkedIn (LNKD): Reported EPS of $0.38 beating estimates by +$0.07. Pre-market: 233.51 +20.51 (9.63%)

Sealed Air (SEE): Reported EPS of $0.35 beating estimates by +$0.10.

Synaptics (SNYA): Reported EPS of $1.39 beating estimates by +$0.15. Pre-

market: 41.96 +1.29 (3.17%)

Viacom (VIAB): Reported EPS of $1.29 missing estimates by -$0.01. Pre-market: 78.50 +4.14 (5.57%)

Markets: 
Futures at 7:40: Dow +0.11%. S&P +0.12%. Nasdaq +0.31%. Crude -0.32% at $107.57. Gold -2.08% to $1284.00. U.S. 10 Year +22/32 2.637%

Europe: London -0.03%. Paris -0.02%. Frankfurt +0.06%. 

Asia: Japan +3.29% to 14466. Hong Kong +0.46% to 22191. China +0.02% at 2029. India -0.79% to 19,164.