Morning Coffee Pre-Market Wall Street News

Apple Reports Earnings After Close.

Wall Street traders will be waiting for Apple (AAPL) to report their latest earnings after the close today. The company’s shares are well off their all time highs as many see the company’s sales hurting due to the increasing popularity of android based phones and tablets.  Wall Street analysts are expecting that the company will report EPS of $7.28 down from year ago earnings of $9.32. Other companies reporting after the bell today include AT&T (T), International Gaming Tech (IGT), Panera Bread (PNRA), VMware (VMW).

Upgrades:

Barrick Gold (ABX): Macquarie raised their rating from Underperform to Neutral. Pre-market: 17.61 +0.05 (0.28%)

Baker Hughes (BHI): Macquarie raised their rating from Neutral to Outperform and raised their target price from $48.00 to $54.00. Pre-market: 48.20 +0.69 (1.45%)

Baker Hughes (BHI): Cowen raised their rating from Market Perform to Outperform. Pre-market: 48.20 +0.69 (1.45%)

Hasbro (HAS): Needham raised their rating from Hold to Buy and placed a target price of $52.00 on the company.

Texas Instrument (TXN): SunTrust raised their rating from Reduce to Neutral and placed a target price of $40.00 on the company.

Downgrades:

Broadcom (BRCM): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 32.50 -0.75 (-2.26%)

JDS Uniphase (JDSU): MKM Partners lowered their rating from Buy to Neutral and lowered their target price from $24.00 to $15.00. Pre-market: 14.90 -0.25 (-1.65%)

Yahoo! (YHOO): Needham lowered their rating from Buy to Hold.

Netflix (NFLX): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 252.76 -9.20 (-3.51%)

Netflix (NFLX): Cantor Fitzgerald lowered their rating from Buy to Hold and placed a target price of $260.00 on the company. Pre-market: 252.76 -9.20 (-3.51%)

Coverage Initiated:

Aetna (AET): Stifel Buckingham initiated coverage with a Buy rating and target price of $80.00.

Alaska Air (ALK): Buckingham initiated coverage with a Buy rating and target price of $75.00. Pre-market: 62.32 +0.16 (0.26%)

BJ’s Restaurants (BJRI): Wunderlich initiated coverage with a Hold rating and target price of $42.00.

Buffalo Wild Wings (BWLD): Wunderlich initiated coverage with a Buy rating and target price of $117.00.

Cheesecake Factory (CAKE): Wunderlich initiated coverage with a Hold rating and target price of $46.00.

Chipotle Mexican Grill (CMG): Wunderlich initiated coverage with a Hold rating and target price of $430.00.

Panera Bread (PNRA): Wunderlich initiated coverage with a Hold rating and target price of $200.00.

Earning Reports:

Altria (MO): Reported EPS of $0.62 missing estimates by -$0.01.

CIT Group (CIT): Reported EPS of $0.91 in-line with estimates.

DuPont (DD): Reported EPS of $1.28 beating estimates by +$0.01.

Forest Labs (FRX): Reported EPS of $2.64 beating estimates by +$0.01.

Lockheed Martin (LMT): Reported EPS of $0.09 beating estimates by +$0.43.

Netflix (NFLX): Reported EPS of $0.49 beating estimates by +$0.10.

Ryder System (R): Reported EPS of $1.25 beating estimates by +$0.03.

Texas Instruments (TXN): Reported EPS of $0.42 beating estimates by +$0.01.

Wendy's (WEN): Reported EPS of $0.08 beating estimates by +$0.02.

Markets: 
Futures at 8:20: Dow +0.15%. S&P +0.2%. Nasdaq +0.23%. Crude -1.00% to $105.87. Gold -0.31% to $1331.60. U.S 10 Ten Year -10/32 2.523%

Europe: London +0.21%. Paris +0.20%. Frankfurt +0.26%.

Asia: Japan +0.82% to 14779. Hong Kong +2.33% to 21915. China +1.95% to 2044. India +0.71% to 20,302. 

Morning Coffee Pre-Market Wall Street News

S&P 500 Forecasts raised by Goldman. Goldman Sachs announced that they have raised their forecast S&P 500.  The firm now expects the index to rise 5% by year-end to 1,750. Analysts expectations for 2014 is now an increase of 9% to 1,900 and for 2015 a return of 10% to 2,100. The reason for the increase is expectations of an improving GDP with P/E’s increasing to 16x. Additionally, the firm said dividends should rise 30% over the next two years. Pre-market: 167.03 +0.06 (0.04%)

Upgrades

Blackrock (BLK): Macquarie raised their rating from Neutral to Outperform and raised their target price from $253.00 to $315.00.

Con-way (CNW): Wunderlich raised their rating from Hold to Buy and raised their target price from $37.00 to $45.00.

Downgrades

Breazer Homes (BZH): Sterne Agee lowered their rating from Buy to Neutral. Pre-market: 22.50 -0.23 (-1.01%)

Carnival Corp (CCL): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target price range from $39.00 - $41.00 to $34.00 - $36.00. Pre-market: 32.55 -2.77 (-7.84%)

Carnival Corp (CCL): William Blair lowered their rating from Outperform to Market Perform. Pre-market: 32.55 -2.77 (-7.84%)

Carnival Corp (CCL): UBS lowered their rating from Buy to Neutral and lowered their target price from $38.00 to $36.00. Pre-market: 32.55 -2.77 (-7.84%)

Coverage Initiated

Aetna (AET): Goldman Sachs initiated coverage with a Buy rating and target price of $68.00.

Sony Corp (SNE): Jefferies initiated coverage with a Buy rating.

Earning Reports

AutoZone (AZO): Reported EPS of $0.32 beating estimates by +$0.06.

Best Buy (BBY): Reported EPS of $0.32 beating estimates by +$0.06. Pre-market: 26.53 -0.28 (-1.04%)

Dick’s Sporting Goods (DKS): Reported EPS of $0.48 in-line with estimates. Pre-market: 52.00 -0.21 (-0.40%)

Home Depot (HD): Reported EPS of $0.83 beating estimates by +$0.07. Pre-market: 79.50 +2.74 (3.57%)

Medtronic (MDT): Reported EPS of $1.10 beating estimates by +$0.08. Pre-market: 52.00 +2.11 (4.23%)

Urban Outfitters (URBN): Reported EPS of $7.27 beating estimates by +$0.03. Pre-market: 43.35 -1.14 (-2.56%)

Markets: 
Futures at 7:00: Dow +0.02%. S&P -0.09%. Nasdaq -0.05%. Crude -0.27% to $96.45. Gold -0.32% to $1380.00.

Europe: London +0.17%. Paris -0.36%. Frankfurt -0.32%. 

Asia: Japan +0.13% to 15381. Hong Kong -0.54% to 23366. China +0.22% to 2305. India -0.56% to 20111.