MORNING COFFEE

VF Corp to Buy Timberland. VF Corp. (VF) has offered to buy apparel company Timberland (TBL) for $43.00 per share.  The offer is a premium of 43% over the company’s Friday closing price of $29.99. VF Pre-market: 101.85 +10.05 (10.95%) TBL Pre-market: 42.76 +12.77 (42.58%)

Upgrades

Transocean (RIG): Argus raised their rating from Hold to Buy and placed a target price of $85.00. Pre-market: 63.55 +0.70 (1.11%)

MGM Reports (MGM): Bernstein raised their rating from Market Perform to Outperform and placed a target price of $12.50 on the company. Pre-market: 12.91 +0.36 (2.87%)

Ryder Systems (R): KeyBanc raised their rating from Hold to Buy and placed a target price of $63.00 on the company.

Downgrades

Molson Coors Brewing (TAP): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 43.91 -0.31 (-0.70%)

Nokia (NOK): Wunderlich lowered their rating from Buy to Hold. Pre-market: 6.26 -0.03 (-0.48%)

Coverage Reiterated/Price Target Changed

Texas Instruments (TXN): Robert W. Baird reiterated their Hold rating and lowered their target price from $35.00 to $34.00.

Broadcom (BRCM): Robert W. Baird reiterated their Hold rating and lowered their target price from $43.00 to $35.00. Pre-market: 33.15 +0.05 (0.15%)

·         Futures at 8:38: Dow +0.36%. S&P +0.37%. Nasdaq +0.17%. Crude -0.77% to $98.53. Gold +0.05% to $1529.90.

·         Europe: London -1.2%. Paris +0.3%. Frankfurt +0.1%.

·         Asia: Japan -0.7% to 9448. Hong Kong +0.39% to 22508. China -0.18% to 2701. India -0.01% to 18266.