Morning Coffee Pre-Market Wall Street News

Senate and House Set to Meet. The Senate and the House are due to hold sessions today even though its federal holiday; Congress was scheduled to be close in observance of Columbus Day. Over the weekend President Obama refused to negotiate with House Republicans and Senate Majority Leader Harry Reid (D) demanded that all previous spending cuts, known as sequester be added back into the budget.  U.S. Stock futures are lower this morning.

Upgrades:

Advance Micro Devices (AMD): Wedbush raised their rating from Neutral to Outperform and raised their target price from $4.50 to $5.00. Pre-market: 3.86 +0.03 (0.78%)

Dunkin Brands (DNKN): Miller Tabak raised their rating from Hold to Buy and raised their target price from $46.00 to $53.00. Pre-market: 45.80 +0.12 (0.26%)

Hyatt Hotels (H): ISI Group raised their rating from Neutral to Buy.

Iron Mountain (IRM): RW Baird raised their rating from Neutral to Outperform and placed a target price of $34.00 on the company. Pre-market: 25.42 +0.12 (0.47%)

Downgrades:

Coach (COH): Canaccord lowered their rating from Buy to Hold and lowered their target price from $65.00 to $62.00. Pre-market: 53.80 -0.79 (-1.45%)

Expedia (EXPE): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $66.00 to $51.00. Pre-market: 50.00 -1.73 (-3.34%)

Merck & Co (MRK): Bernstein lowered their rating from Outperform to Market Perform. Pre-market: 46.86 -0.43 (-0.91%)

SABMIller plc (SBMRY): Citigroup lowered their rating from Buy to Neutral.

Coverage Initiated:

Capital One Financial (COF): SunTrust initiated coverage with a Buy rating and target price of $81.00. Pre-market: 71.77 -0.14 (-0.19%)

CIT Group (CIT): SunTrust initiated coverage with a Neutral rating and target price of $53.00.

Discover Financial (DFS): Deutsche Bank initiated coverage with a Buy rating and target price of $62.00.

Teva Pharmaceuticals (TEVA): Oppenheimer initiated coverage with a Perform rating. Pre-market: 40.25 -0.79 (-1.92%)

Markets: 
Futures at 7:55: Dow -0.68%. S&P -0.78%. Nasdaq -0.40%. Crude -0.53% to $101.48. Gold +1.58% to $1288.50. U.S. 10 Year 0/32 2.692%.

Europe: London +0.07%. Paris -0.30%. Frankfurt -0.28%. 

Asia: Japan +1.48% to 14404, Hong Kong +1.16% to 23218. China +0.43% to 2238. India +1.26% to 20528. 

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