Blain and Gate Capital Look to Buy Compuware.

Blain and Gate Capital Look to Buy Compuware. Private equity firms Bain Capital and Golden Gate Capital are reportedly in talks to acquire software provider Compuware (CPWR). The firms have already agreed to acquire BMC Software (BMC) in May.  

Upgrades:

Kraft Foods (KRFT): Morgan Stanley raised their rating from Equal Weight to Overweight placed a target price of $60.00 on the company. Pre-market: 54.59 +1.04 (1.94%)

Mohawk Industries (MHK): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $142.00 to $166.00. Pre-market: 140.00 +1.05 (0.76%)

Valero Energy (VLO): JPMorgan raised their rating from Underweight to Neutral and raised their target price from $34.00 to $44.00. Pre-market: 47.50 +0.92 (1.98%)

Downgrades:

Ingersoll-Rand (IR): MKM Partners lowered their rating from Buy to Neutral and placed a target price of $58.00 on the company. Pre-market: 56.30 -0.39 (-0.69%)

Noble Energy (NBL): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $82.00 to $75.00. Pre-market: 68.80 -0.70 (-1.01%)

Coverage Initiated:

Allscripts Healthcare (MDRX): JPMorgan initiated coverage with an Overweight rating and target price of $18.00.

American Airlines (AAL):CRT Capital initiated coverage with a Buy rating and target price of $31.00.

Archer Daniels Midland (ADM): Credit Suisse initiated coverage with a Neutral rating and target price of $44.00.

Masco (MAS): Credit Suisse initiated coverage with an Outperform rating and target price of $25.00. Pre-market: 21.55 -0.09 (-0.42%)

Masco (MAS): Goldman Sachs initiated coverage with a Sell rating and target price of $29.50. Pre-market: 21.55 -0.09 (-0.42%)

Stanley Black & Decker (SWK): Credit Suisse initiated coverage with a Neutral rating and target price of $71.00.

TJX Cos. (TJX): Atlantic Equities initiated coverage with an Overweight rating and target price of $75.00. Pre-market: 62.73 +0.39 (0.63%)

Markets: 
Futures at 6:20: Dow +0.04%. S&P +0.11%. Nasdaq +0.10%. Crude +0.05% to $97.70. Gold +0.08% to $1230.20. U.S. 10 Year +4/32 2.842%.

Europe: London -0.07%. Paris -0.16%. Frankfurt +0.38%. 

Asia: Japan +2.69% to 15650. Hong Kong +0.29% to 23811. China +0.05% to 2,238. India +1.57% to 21286.

 
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Morning Coffee Pre-Market Wall Street News

U.S. Housing Numbers Miss Estimates. The Commerce Department reported that July’s housing starts rose 5.9% to a seasonally adjusted annual rate of 896,000 units. Wall Street Economists had estimated that housing starts would come in at 900,000 units. June's numbers were revised upward to 846,000-units from the previously reported. Permits to build new homes increased 2.7% in July to a 943,000-unit pace also missing estimates. Economists had expected permits to rise to 945,000. Wall Street analysts are pointing to higher interest rates as the cause of the misses.

Upgrades:

Applied Materials (AMAT): DA Davidson raised their rating from Neutral to Buy and raised their target price from $15.00 to $18.00.

JetBlue Airlines (JBLU): Raymond James raised their rating from Underperform to Market Perform.

Pandora Media (P): Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $27.00 on the company.

Wal-Mart (WMT): S&P raised their rating from 3 Stars to 4 Stars.

Downgrades:

Alcoa (AA): Bank of America Merrill Lynch lowered their rating from Neutral to Underperform and placed a target price of $8.00 on the company.

Colgate-Palmolive (CL): Argus lowered their rating from Buy to Hold.

General Mills (GIS): Jefferies lowered their rating from Hold to Underperform and lowered their target price from $45.00 to $44.00.

Noble Energy (NE): ISI Group lowered their rating from Strong Buy to Buy and placed a target price of $67.00 on the company.

Nordstrom (JWN): Sterne Agee lowered their rating from Buy to Neutral and placed a target price of $62.00 on the company.

Transocean (RIG): Johnson Rice lowered their rating from Overweight to Underweight.

Coverage Initiated:

Xcel Energy (XEL): UBS initiated coverage with a Neutral rating and target price of $30.00.

Earning Reports:

Applied Materials (AMAT): Reported EPS of $0.18 missing estimates by -$0.01.

Dell (DELL): Reported EPS of $0.25 beating estimates by +$0.01.

Nordstrom (JWN): Reported EPS of $0.93 beating estimates by +$0.05.

Markets: 
Futures at 9:01: Dow 0.00%. S&P +0.10%. Nasdaq +0.27%. Crude +0.08% to $107.44. Gold +0.34% at $1365.40. U.S. 10 Year -1/32 2.778%

Europe: London 0.00%. Paris +0.06%. Frankfurt -0.36%. 

Asia: Japan -0.75% to 13650. Hong Kong -0.10% to 22518. China -0.65% to 2068. India -3.97% to 18618. 

Morning Coffee Pre-Market Wall Street News

Muni Bond Funds Experience Exodus. Through Wednesday Municipal bond funds experienced outflows of over $1.2B since Detroit declared bankruptcy. This marks the ninth week in a row of net outflows that began after the Fed hinted at changing their current stimulus plan.  Yesterday in court Bankruptcy Judge Steven Rhodes suspended the lawsuits by the unions calling the Bankruptcy unconstitutional according to Michigan law. The spike in net outflows is due to the concern that there are many other large cities like Chicago and Los Angeles that are in the same financial position as Detroit.

Upgrades:

Advance Auto Parts (AAP): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $82.00 to $92.00.

Campbell Soup (CPB): Credit Suisse raised their rating from Underperform to Neutral and raised their target price from $44.00 to $48.00.

L-3 Communications (LLL): Bank of America Merrill Lynch raised their rating from Underperform to Neutral and raised their target price from $73.00 to $97.00.

Tesla Motors (TSLA): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $50.00 to $160.00.

Downgrades:

Bed Bath & Beyond (BBBY): BB&T lowered their rating from Buy to Hold.

Diamond Offshore (DO): Williams Capital lowered their rating from Buy to Hold and lowered their target price from $86.00 to $77.00.

Dolby Labs (DBL): Dougherty lowered their rating from Buy to Neutral.

Expedia (EXPE): Raymond James lowered their rating from Outperform to Market Perform.

Facebook (FB): Argus lowered their rating from Buy to Hold.

Noble Energy (NBL): Johnson Rice lowered their rating from Focus List to Overweight.

Viacom (VIAB): Stifel lowered their rating from Buy to Hold.

Southwest Airlines (LUV): Raymond James lowered their rating from Outperform to Market Perform.

Teradyne (TER): Pacific Crest lowered their rating from Outperform to Sector Perform.

Zanga (ZNGA): Needham lowered their rating from Buy to Hold.

Earning Reports:

Amazon.com (AMZN): Reported EPS of -0.02 missing estimates by -$0.07. Pre-market: 300.28 -3.12 (-1.03%)

Chubb (CB): Reported EPS of $1.77 beating estimates by +$0.20.

Dolby Labs (DLB): Reported EPS of $0.47 beating estimates by +$0.05.

Dole Food (DOLE): Reported EPS of $0.28 beating estimates by +$0.17.

Expedia (EXPE): Reported EPS of $0.64 missing estimates by -$0.20. Pre-market: 50.19 -14.81 (-22.78%)

NETGEAR (NTGR): Reported EPS of $0.62 beating estimates by +$0.06.

Republic Services (RSG): Reported EPS of $0.43 missing estimates by -$0.06.

Starbucks (SBUX): Reported EPS of $0.55 beating estimates by +$0.02.

Zynga (ZNGA): Reported EPS of -$0.01 beating estimates by +$0.03.

Markets: 
Futures at 8:41: Dow -0.41%. S&P -0.54%. Nasdaq -0.18%. Crude -0.89% to $104.56. Gold -0.39% to $1323.70.  U.S.10 Year +6/32 2.549%

Europe: London -0.38%. Paris +0.23%. Frankfurt -0.70%. 

Asia: Japan -2.97% to 14130. Hong Kong +0.31% to 21969. China -0.51% to 2011. India -0.29% to 19,750.