Foster Wheeler to Be Acquired. Foster Wheeler (FWLT) will be acquired by U.K. engineering company Amec (AMCBF) for £1.9B ($3.13B) in cash and stock. Foster shareholders will receive 23% in Amec which will seek a U.S. listing. The company said in a statement that the transaction will position Amec "to serve across the whole oil and gas value chain," and that, "adding mid and downstream capabilities to Amec's existing upstream focus and bringing new customer relationships."

Upgrades:

Broadcom (BRCM): B. Riley raised their rating from Neutral to Buy and raised their target price from $29.00 to $37.00. Pre-market: 29.05 +0.14 (0.48%)

Carnival (CCL): SunTrust raised their rating from Reduce to Neutral.

Jacobs Engineering (JEC): UBS raised their rating from Neutral to Buy and raised their target price from $60.00 to $75.00.

Macys’ (M): Macquarie raised their rating from Neutral to Outperform.

Visa (V): Citigroup raised their rating from Neutral to Buy and raised their target price from $212.00 to $265.00.

Downgrades:

Berkshire Hathaway (BRK.A/BRK.B): ResearchTeam lowered their rating from Hold to Reduce. Pre-market: 114.80 -0.17 (-0.15%)

Canadian Imperial Bank (CM): ResearchTeam lowered their rating from Hold to Reduce.

Charles Schwab (SCHW): CLSA lowered their rating from Outperform to Underperform.

Mattel (MAT): ResearchTeam lowered their rating from Accumulate to Hold.

Oceaneering Intl (OII): ISI Group lowered their rating from Strong Buy to Neutral.

Ryder Systems (R): ResearchTeam lowered their rating from Accumulate to Hold.

SAP AG (SAP): Pacific Crest lowered their rating from Outperform to Market Perform. Pre-market: 83.07 -0.47 (-0.56%)

Symantec (SYMC): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $21.00 on the company. Pre-market: 22.95 -0.52 (-2.22%)

Transocean (RIG): ISI Group lowered their rating from Neutral to Cautious. Pre-market: 48.48 -0.05 (-0.10%)

Coverage Initiated:

Ford Motor Co (F): ISI Group initiated coverage with a Strong Buy rating and target price of $22.00. Pre-market: 16.34 +0.27 (1.68%)

General Motors (GM): ISI Group initiated coverage with a Neutral rating and target price of $45.00. Pre-market: 40.30 +0.27 (0.67%)

Hewlett-Packard (HPQ): Atlantic Equities initiated coverage with an Overweight rating and target price of $36.00.

IBM (IBM): Atlantic Equities initiated coverage with a Neutral rating and target price of $195.00.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.3%. Nasdaq -0.3%. Crude -0.7%to $92.11. Gold -0.1% to $1245.60. 

Europe: London 0.0%. Paris +0.1%. Frankfurt +0.2%. 

Asia: Japan +0.2% to 15912. Hong Kong +0.2% to 22889. China -0.2% to 2010. India +1.8% to 21134. 

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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.