MORNING COFFEE

Debt Deal Ready For Vote. Over the weekend both Republicans and Democrats leaders reached a deal on how to address the debt ceil and cut spending.  Congress will vote today on a bill to raise the debt ceiling by $2.4 trillion in two stages and cut spending.  The deal would cut the debt by $917 billion over 10 years, while another bipartisan committee will be formed to find another $1.5 trillion in cuts. The committee will have until December 23 to come up with at least $1.2 trillion in reductions, or automatic cuts will kick in.

Upgrades

EMC (EMC): Oppenheimer raised their rating from perform to Outperform and placed a target price of $32.00. Pre-market: 26.60 +0.52 (1.99%)

Eili Lilly (LLY): Leerink raised their rating from Underperform to Market Perform. Pre-market: 39.00 +0.70 (1.83%)

Raytheon (RTN): Bernstein raised their rating from Market Perform to Outperform and placed a target price of $60.00 on the company. Pre-market: 45.85 +1.12 (2.50%)

Radio Shack (RSH): Goldman Sachs raised their rating from Neutral to Conviction Buy and placed a target price of $18.00 on the company. Pre-market: 14.79 +0.87 (6.25%)

Downgrades

Oceaneering Intl (OII): Credit Suisse lowered their rating from Outperform to Neutral and placed a target price of $48.00 on the company. Pre-market: 43.30 +0.10 (0.23%)

Arch Coal (ACI): CLSA lowered their rating from Outperform to Buy and lowered their target price from $39.00 to $34.00. Pre-market: 26.61 +1.01 (3.95%)

Earning Reports

Humana (HUM): Reported EPS of $2.50 beating estimates by +$0.45. Pre-market: 78.62 +4.04 (5.42%)

Loews Corp (L): Reported EPS of $0.62 missing estimates by -$0.22. Pre-market: 39.74 -0.13 (-0.33%)

Futures at 7:41: Dow +1.39%. S&P +1.24%. Nasdaq +1.17%. Crude +1.21% to $96.86. Gold -0.58% to $1621.60. 

Europe: London +1.31%. Paris +0.66%. Frankfurt +0.60%. 

Asia: Japan +1.34% to 9965. Hong Kong +0.99% to 22663. China +0.08% to 2704. India +0.64% to 18314.