Morning Coffee-Pre Market Wall Street News

Markets Lower On Fed Comments. World markets are lower this morning after the Fed left its bond-buying program unchanged. Wall Street economist had expected the Fed not to make any changes to its bond-buying program at this time. The Fed left out a reference to tightening financial conditions, which was included in the September statement. Wall Street seems to have interpreted that as meaning the Fed hasn't ruled out tapering in December.

Upgrades:

Archer Daniels Midland (ADM): Argus raised their rating from Hold to Buy. Pre-market: 41.10 +0.10 (0.24%)

Volkswagen (VLKAY): Citigroup raised their rating from Neutral to Buy.

Downgrades:

Eaton Corp. (ETN): Buckingham lowered their rating from Buy to Neutral and placed a target price of $75.00 on the company.

Facebook (FB): BMO Capital lowered their rating from Outperform to Market Perform and placed a target price of $50.00 on the company. Pre-market: 48.61 -0.40 (-0.82%)

Flour (FLR): Canaccord lowered their rating from Buy to Hold and maintained their target price of $80.00.

Garmin (GRMN): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 47.70 -0.57 (-1.18%)

Kraft Foods (KRFT): Canaccord lowered their rating from Buy to Hold and maintained their target price of $59.00. Pre-market: 55.33 -0.11 (-0.20%)

Mattel (MAT): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $52.00 to $46.00. Pre-market: 43.90 -0.76 (-1.70%)

Earning Reports:

Advance Auto (AAP): Reported EPS of $1.42 in-line with estimates. Pre-market: 101.50 +1.50 (1.50%)

Anheuser-Bush InBev (BUD): Reported EPS of $1.36 beating estimates by +$0.10. Pre-market: 103.82 +0.58 (0.56%)

AstraZeneca (AZN): Reported EPS of $1.21 missing estimates by -$0.03. Pre-market: 52.81 -0.76 (-1.42%)

Cardinal Health (CAH): Reported EPS of $0.92 beating estimates by +$0.07. Pre-market: 56.61 +0.93 (1.67%)

Clorox (CLX): Reported EPS of $1.04 beating estimates by +$0.03. Pre-market: 89.00 -1.14 (-1.26%)

ConocoPhillips (COP): Reported EPS of $1.47 beating estimates by +$0.02. Pre-market: 73.88 +0.63 (0.86%)

Expedia (EXPE): Reported EPS of $1.43 beating estimates by +$0.07. Pre-market: 58.19 +8.23 (16.47%)

Exxon Mobil (XOM): Reported EPS of $1.79 beating estimates by +$0.01. Pre-market: 89.07 +0.26 (0.29%)

Facebook (FB): Reported EPS of $0.25 beating estimates by +$0.06. Pre-market: 48.61 -0.40 (-0.82%)

Kraft Foods (KRFT): Reported EPS of $0.70 beating estimates by +$0.01. Pre-market: 55.33 -0.11 (-0.20%)

MasterCard (MA): Reported EPS of $7.27 beating estimates by +$0.33. Pre-market: 734.99 +9.31 (1.28%)

Sony (SNE): Reported EPS of -$18.91 missing estimates by -$29.91. Pre-market: 18.08 -1.34 (-6.90%)

Starbucks (SBUX): Reported EPS of $0.60 in-line with estimates. Pre-market: 79.00 -1.83 (-2.26%)

Teva Pharma (TEVA): Reported EPS of $1.27 beating estimates by +$0.01. Pre-market: 38.00 +0.30 (0.80%)

Visa (V): Reported EPS of $1.86 missing estimates by -$0.01. Pre-market: 198.69 -5.13 (-2.52%)

Markets: 
Futures at 6:20: Dow -0.2%. S&P -0.1%. Nasdaq -0.5%. Crude 0.0% at $96.81. Gold -1% to $1335.80. 

Europe: London -0.4%. Paris +0.2%. Frankfurt -0.2%. 

Asia: Japan -1.2% to 14328. Hong Kong -0.4% to 23206. China -0.8% to 2143. India +0.2% to 21072.

Morning Coffee Pre-Market Wall Street News

Celgene’s Arthritis Drug Gets Positive Results. After a year log study Celgene's (CELG) new drug Apremilast saw lasting reductions in the signs and symptoms of psoriatic arthritis. The FDA should make a decision in March on the sale of the drug.  Wall Street estimates for the sales of Apremilast range from $475M-1.5B over the next few years. Pre-market: 156.32 +0.58 (0.37%)

Upgrades:

Bristol Myers Squibb (BMY): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $45.00 to $60.00. Pre-market: 50.15 +1.38 (2.83%)

T. Rowe Price (TROW): UBS raised their rating from Neutral to Buy and raised their target price from $77.00 to $90.00. Pre-market: 76.43 +0.68 (0.90%)

Downgrades:

Baidu (BIDU): BNP Paribas lowered their rating from Buy to Hold and lowered their target price from $168.00 to $145.00. Pre-market: 157.31 -2.05 (-1.29%)

Boeing (BA): Buckingham lowered their rating from Buy to Neutral and lowered their target price from $142.00 to $136.00. Pre-market: 129.75 -1.44 (-1.10%)

Owens Corning (OC): KeyBanc lowered their rating from Buy to Hold. Pre-market: 36.51 -1.29 (-3.41%)

Transocean (RIG): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $53.00 to $50.00. Pre-market: 49.08 -0.42 (-0.85%)

Coverage Initiated:

Bally Technologies (BYI): Citigroup initiated coverage with a Neutral rating and target price of $77.50.

International Game Technology (IGT): Citigroup initiated coverage with a Buy rating and target price of $23.50. Pre-market: 18.68 0.00 (0.00%)

Earning Reports:

Biogen Idec (BIIB): Reported EPS of $2.35 beating estimates by +$0.25. Pre-market: 259.47 +7.21 (2.86%)

Burger King (BKW): Reported EPS of $0.23 beating estimates by +$0.02. Pre-market: 20.30 +0.54 (2.73%)

Kirby (KEX): Reported EPS of $1.21 beating estimates by +$0.09.

Lowes Corp (L): Reported EPS of $0.73 missing estimates by -$0.05. Pre-market: 50.99 +2.18 (4.47%)

Merck (MRK): Reported EPS of $0.92 beating estimates by +$0.04. Pre-market: 45.47 -1.07 (-2.30%)

Markets: 

Futures at 6:20: Dow +0.2%. S&P +0.25%. Nasdaq +0.4%. Crude +0.05% to $97.90. Gold 0.0% at $1352.70. U.S. 10 Year -1/32 2.518%

Europe: London +0.1%. Paris -0.3%. Frankfurt +0.1%. 

Asia: Japan +2.2% to 14396. Hong Kong +0.5% to 22807. China +0.04% at 2134. India -0.4% at 20595. 

Morning Coffee Pre-Market Wall Street News

Microsoft Share Jump On Earnings. Microsoft (MSFT) reported that their FQ1 net profit climbed +16% to $5.2B.  EPS were reported at $0.62 beating Wall Street estimates by $0.08. Revenues at the company also rose +16% to $18.53B. Microsoft's performance was boosted by strong corporate sales of its Office and server software.  Earlier this week Apple (APPL) announced that they would begin offering their latest operating system Maverick for free along with iWork which is their version of Office. Pre-market: 35.74 +2.02 (5.99%)

Upgrades:

Brinker Intl (EAT): Wunderlich raised their rating from Hold to Buy and raised their target price from $44.00 to $50.00.

Colgate-Palmolive (CL): Canaccord raised their rating from Sell to Hold and raised their target price from $52.00 to $58.00.

DuPont (DD): Citigroup raised their rating from Neutral to Buy and raised their target price from $61.00 to $70.00.

Ford Motor (F): CLSA raised their rating from Underperform to Outperform and raised their target price from $18.00 to $20.00.

Hasbro (HAS): BMO Capital raised their rating from Underperform to Market Perform and raised their target price from $38.00 to $50.00.

Sony (SNE): Credit Suisse raised their rating from Neutral to Outperform. Pre-market: 19.14 0.00 (0.00%)

Western Digital (WDC): Craig-Hallum raised their rating from Sell to Hold and placed a target price of $70.00 on the company. Pre-market: 70.50 -0.04 (-0.06%)

Downgrades:

Caterpillar (CAT): Atlantic Equities lowered their rating from Overweight to Neutral.

Transocean (RIG): Guggenheim lowered their rating from Buy to Neutral and lowered their target price from $58.00 to $53.00. Pre-market: 48.75 -0.27 (-0.55%)

Wynn Resorts (WYNN): Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $170.00 to $160.00. Pre-market: 170.02 -2.83 (-1.64%)

Coverage Initiated:

Walt Disney (DIS): FBR Capital initiated coverage with an Outperform rating and target price of $84.00.

Earning Reports:

AbbVie (ABBV): Reported EPS of $0.82 beating estimates by +$0.04. Pre-market: 48.90 +0.97 (2.02%)

DTE Energy (DTE): Reported EPS of $1.13 missing estimates by -$0.08.

Eaton (ETN): Reported EPS of $1.12 in-line with estimates. Pre-market: 67.50 -1.00 (-1.46%)

Express Scripts (ESRX): Reported EPS of $1.08 in-line with estimates. Pre-market: 62.49 -1.25 (-1.96%)

Microsoft (MSFT): Reported EPS of $0.62 beating estimates by +$0.08. Pre-market: 35.74 +2.02 (5.99%)

National Oilwell Varco (NOV): Reported EPS of $1.34 beating estimates by +$0.02. Pre-market: 82.00 +2.87 (3.63%)

Newell Rubbermaid (NWL): Reported EPS of $0.52 beating estimates by +$0.03. Pre-market: 30.10 +1.18 (4.08%)

NETGEAR (NTGR): Reported EPS of $0.58 in-line with estimates. Pre-market: 30.00 -2.14 (-6.66%)

Procter & Gamble (PG): Reported EPS of $1.05 in-line with estimates. Pre-market: 80.30 -0.31 (-0.38%)

Sherwin-Williams (SHW): Reported EPS of $2.68 beating estimates by +$0.04. Pre-market: 190.00 +3.00 (1.60%)

Synaptics (SYNA): Reported EPS of $1.31 beating estimates by +$0.08. Pre-market: 50.07 -2.97 (-5.60%)

UPS (UPS): Reported EPS of $1.16 beating estimates by +$0.01. Pre-market: 96.39 +1.90 (2.01%)

Weyerhaeuser (WY): Reported EPS of $0.27 beating estimates by +$0.05. Pre-market: 31.20 +0.90 (2.97%)

Wynn Resorts (WYNN): Reported EPS of $1.84 beating estimates by +$0.12. Pre-market: 170.02 -2.83 (-1.64%)

Markets: 
Futures at 6:17: Dow -0.03%. S&P +0.02%. Nasdaq +0.27%. Crude +0.13% to $97.24. Gold -0.88% to $1338.30. U.S. 10 Year +5/32 2.506%.

Europe: London +0.14%. Paris +0.01%. Frankfurt +0.17%. 

Asia: Japan -2.78% to 14088. Hong Kong -0.60% to 22698. China -1.45% to 2133. India -0.20% to 20684. 

Morning Coffee Pre-Market Wall Street News

Ford Post Strong Q3 Profits. Ford Motor reports very strong Q3 profits, driven by strength in North America and smaller losses in Europe. The auto maker reported pre-tax earnings of $2.6 billion or EPS of $0.45, easily beating Wall Street estimates of only $0.37. Bob Shanks, Ford's chief financial officer said "North America continues to achieve strong profits and we saw significantly improved results outside North America."  He went on to say "We substantially reduced our losses in Europe, set a record third quarter profit in Asia Pacific Africa and saw a $150 million improvement in South America."

 The company also raised full-year guidance. It expects its full-year pre-tax profit to beat 2012 and expects its automotive operating margins to be higher than last year.

Ford also said it contributed $1.1 billion during Q3 to fund its pension plans worldwide. $700 million was contributed to its U.S. plans. Pre-market: 18.11 +0.59 (3.37%)

Upgrades:

Canadian Pacific Railway (CP): Desjardins raised their rating from Hold to Buy. Pre-market: 142.82 -0.17 (-0.12%)

Canadian Pacific Railway (CP): RBC Capital raised their rating from Underperform to Sector Perform. Pre-market: 142.82 -0.17 (-0.12%)

Eli Lilly (LLY): MKM Partners raised their rating from Neutral to Buy and placed a target price of $59.00 on the company.

Goldman Sachs (GS): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $163.00 to $181.00.

Downgrades:

Caterpillar (CAT): Raymond James lowered their rating from Outperform to Market Perform.

Caterpillar (CAT): JPMorgan lowered their rating from Overweight to Neutral and lowered its target price from $105.00 to $90.00.

Coach (COH): Atlantic Equities lowered their rating from Overweight to Neutral. Pre-market: 48.51 -0.04 (-0.08%)

Green Mountain Coffee Roasters (GMCR): Argus lowered their rating from Buy to Hold.

O”Reilly Automotive (ORLY): Raymond James lowered their rating from Strong Buy to Market Perform.

U.S. Bancorp (USB): Deutsche Bank raised their rating from Buy to Hold and raised their target price from $41.00 to $38.00.

Coverage Initiated:

21^st Century Fox (FOXA): Guggenheim initiated coverage with a Buy rating and target price of $41.00. Pre-market: 34.77 0.00 (0.00%)

CBS Corp (CBS): Guggenheim initiated coverage with a Buy rating and target price of $69.00.

CVS Caremark (CVS): FBR Capital initiated coverage with an Outperform rating and target price of $69.00.

Express Scripts (ESRX): FBR Capital initiated coverage with an Outperform rating and target price of $75.00.

News Corp (NWSA): Guggenheim initiated coverage with a Neutral rating and target price of $19.00.

Time Warner (TWX): Guggenheim initiated coverage with a Buy rating and target price of $80.00.

Viacom B (VIAB): Guggenheim initiated coverage with a Neutral rating and target price of $94.00.

Walgreen (WAG): FBR Capital initiated coverage with a Market Perform rating and target price of $62.00.

Walt Disney (DIS): Guggenheim initiated coverage with a Neutral rating and target price of $78.00.

Earning Reports:

3M (MMM): Reported EPS of $1.78 beating estimates by +$0.03. Pre-market: 123.50 +0.30 (0.24%)

Ball Corp (BLL): Reported EPS of $1.78 beating estimates by +$0.03.

Cabela’s (CAB): Reported EPS of $0.70 missing estimates by -$0.01. Pre-market: 59.82 -2.57 (-4.12%)

Celgene (CELG): Reported EPS of $1.56 beating estimates by +$0.03. Pre-market: 158.50 -1.50 (-0.94%)

Colgate-Palmolive (CL): Reported EPS of $0.73 in-line with estimates. Pre-market: 63.00 -0.47 (-0.74%)

Dow Chemical (DOW): Reported EPS of $0.50 missing estimates by -$0.04. Pre-market: 40.00 -1.04 (-2.53%)

Ford Motor (F): Reported EPS of $0.45 beating estimates by +$0.08. Pre-market: 18.11 +0.59 (3.37%)

Hershey Foods (HSY): Reported EPS of $1.04 beating estimates by +$0.03. Pre-market: 98.00 +1.15 (1.19%)

International Paper (IP): Reported EPS of $0.94 missing estimates by -$0.01. Pre-market: 44.63 +0.24 (0.54%)

Old Dominion Freight (ODFL): Reported EPS of $0.70 missing estimates by -$0.01. Pre-market: 47.00 -0.74 (-1.55%)

Potash (POT): Reported EPS of $0.41 in-line with estimates. Pre-market: 31.05 -0.65 (-2.05%)

Under Armour (UA): Reported EPS of $0.68 beating estimates by +$0.02. Pre-market: 78.97 -5.01 (-5.97%)

Xerox (XRX): Reported EPS of $0.26 beating estimates by +$0.01. Pre-market: 10.41 -0.32 (-2.98%)

Zimmer Hldgs (ZMH): Reported EPS of $1.25 beating estimates by +$0.01.

Markets: 
Futures at 6:20: Dow +0.4%. S&P +0.4%. Nasdaq +0.4%. Crude +0.4% to $97.27. Gold +0.1% to $1335.90. U.S. 10 Year +2/32 2.497%

Europe: London +0.4%. Paris +0.2%. Frankfurt +0.6%. 

Asia: Japan +0.4% to 14486. Hong Kong -0.7% to 22836. China -0.8% to 2165. India -0.2% to 20725.