Gold Prices Fall.

Gold Prices Fall. Gold has dropped to $1200 an ounce for the first time since June after the Fed's decided to taper its QE program by $10B a month. , Gold prices have fallen over -28% this year and is currently trading at $1.201.50 down -2.74%. Silver was -3.7% at $19.32.

Upgrades:

Sirius XM (SIRI): Wunderlich raised their rating from Hold to Buy and raised their target price from $4.20 to $4.50.

Downgrades:

Ford Motor Co. (F): Craig-Hullum lowered their rating from Buy to Hold and lowered their target price from $21.00 to $16.00.

Comerica (CMA): Macquarie lowered their rating from Neutral to Underperform and placed a target price of $41.00 on the company.

JPMorgan Chase (JPM): SunTrust lowered their rating from Buy to Neutral and lowered their target price from $62.00 to $59.00.

Coverage Initiated:

Edison International (EIX): Tudor Pickering initiated coverage with an Accumulate rating.

Ralph Lauren (RL): Stephens initiated coverage with an Equal Weight rating and target price of $184.00.

Southwest Airlines (LUV): UBS initiated coverage with a Buy rating and target price of $25.00.

Standard Pacific (SPF): Sterne Agee initiated coverage with a Neutral rating and target price of $8.00.

Tiffany & Co (TIF): Stephens initiated coverage with an Equal Weight rating and target price of $95.00.

Xylem (XYL): Sterne Agee initiated coverage with a Neutral rating and target price of $32.00.

Earning Reports:

Accenture (ACN): Reported EPS of $1.15 beating estimates by +$0.05. Pre-market: 78.08 +2.46 (3.25%)

ConAgra (CAG): Reported EPS of $0.62 beating estimates by +$0.06. Pre-market: 33.09 +1.30 (4.09%)

KB Home (KBH): Reported EPS of $0.31 missing estimates by -$0.16. Pre-market: 16.95 -0.60 (-3.42%)

Oracle (ORCL): Reported EPS of $0.69 beating estimates by +$0.02. Pre-market: 35.34 +0.74 (2.14%)

Paychex (PAYX): Reported EPS of $0.43 beating estimates by +$0.01. Pre-market: 44.00 +0.68 (1.57%)

Rite Aid (RAD): Reported EPS of $0.04 in-line with estimates. Pre-market: 5.42 -0.34 (-5.90%)

Winnebago Inds (WGO): Reported EPS of $0.40 beating estimates by +$0.02. Pre-market: 31.65 +0.01 (0.03%)

Markets: 
Futures at 8:59: Dow -0.42%. S&P -0.51%. Nasdaq -0.53%. Crude -0.09% to $97.71. Gold -2.74% to $1201.50. U.S. 10 Year -13/32 to 2.944%.

Europe: London +0.87%. Paris +0.93%. Frankfurt +0.94%. 

Asia: Japan +1.74% to 15859. Hong Kong -1.10% to 22889. China -0.95% to 2128. India -0.73% to 20709. 

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Morning Coffee Pre-Market Wall Street News

Gold & Silver Tarnished. Better than expected U.S. economic data yesterday, has sent gold and silver prices lower. Gold prices have dropped to their lowest since August 2010, and are down -3.55% this morning to $1229.80. Shares of SPDR Gold Trust (GLD) have fallen -23.79% year-to-date, while shares of iShares Silver Trust (SLV) have fallen -35.61% year-to-date. This morning spot prices for silver are off another -5.4% at $18.58. (GLD) Pre-market: 119.21 -4.26 (-3.45%) (SLV) Pre-market: 18.03 -0.88 (-4.65%)

Upgrades:

Adobe Systems (ADBE): Jefferies raised their rating from Hold to Buy and raised their target price from $45.00 to $57.00. Pre-market: 45.35 +0.98 (2.21%)

KeyCorp (KEY): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $10.00 to $13.00. Pre-market: 11.00 +0.28 (2.61%)

Pandora Media (P): Cowen raised their rating from Neutral to Outperform. Pre-market: 17.20 +0.79 (4.81%)

Downgrades:

Barrick Gold (ABX): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $36.00 to $20.00. Pre-market: 15.39 -0.72 (-4.47%)

Mosaic (MOS): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $69.00 to $57.00. After Hours: 55.75 -0.16 (-0.29%)

NETGEAR (NTGR): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $33.00 to $28.00.

Southwest Airlines (LUV): Morgan Stanley lowered their rating from Equal Weight to Underweight and maintained a target price of $13.00. After Hours: 13.38 +0.03 (0.22%)

Coverage Initiated:

Google (GOOG): Janney Capital initiated coverage with a Buy rating and target price of $1050.00. Pre-market: 870.51 +4.31 (0.50%)

Orbitz Worldwide (OWW): Ascendiant initiated coverage with a Buy rating and target price of $10.00.

Earning Reports:

General Mills (GIS): Reported EPS of $0.53 in-line with estimates. Pre-market: 48.00 -0.33 (-0.68%)

Smith & Wesson (SWHC): Reported EPS of $0.44 beating estimates by +$0.01. Pre-market: 10.16 +0.17 (1.70%)

Markets: 
Futures at 7:34: Dow +0.40%. S&P +0.52%. Nasdaq +0.64%. Crude -0.21% to $95.13. Gold -3.55% to $1229.80.

Europe: London +0.97%. Paris +1.91%. Frankfurt +1.70%. 

Asia: Japan -1.04% to 12834. Hong Kong +2.43% to 20339. China -0.41% to 1952. India -0.41% to 18552.