MORNING COFFEE

Apple’s co-founder Steve Jobs passes away. Steve Jobs co-founder of Apple computer has lost his battle with pancreatic cancer and has passed away at age 56.  Jobs had been battling his cancer for years and had recently stepped down as CEO of the company. Pre-market: 375.44 -2.81 (-0.74%)

Earning Reports

Constellation Brands (STZ): Reported EPS of $0.77 beating estimates by +$0.11. Pre-market: 20.00 +1.28 (6.84%)

Helen of Troy (HELE): Reported EPS of $0.74 missing estimates by -$0.12. Pre-market: 25.07 -3.10 (-11.00%)

Intl Speedway (ISCA): Reported EPS of $0.24 missing estimates by -$0.07. Pre-market: 19.13 -4.07 (-17.54%)

Upgrades

Federated Investors (FII): Goldman Sachs raised their rating from Sell to Neutral and raised their target price from $17.00 to $18.00. Pre-market: 18.11 +0.16 (0.89%)

Barrick Gold (ABX): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $17.00 to $18.00. Pre-market: 46.39 +0.12 (0.26%)

Downgrades

Chevron (CVX): JP Morgan lowered their rating from Neutral to Underweight and lowered their target price from $116.00 to $101.00. Pre-market: 93.28 -1.38 (-1.46%)

Exxon Mobile (XOM): JP Morgan lowered their rating from Neutral to Underweight and lowered their target price from $90.00 to $86.00. Pre-market: 73.20 -0.75 (-1.01%)

Costco (COST): William Blair lowered their rating from Outperform to Market Perform. Pre-market: 79.89 -0.36 (-0.45%)

Fastenal (FAST): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $38.00 to $36.00. Pre-market: 33.66 -0.46 (-1.35%)

W.W. Grainger  (GWW): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $175.00 to $159.00.

Coverage Initiated

Nestle S.A. ADS (NSRGY): Societe Generale initiated coverage with a Buy rating.

Unilever N.V. ADS (UN/ UL): Societe Generale initiated coverage with a Buy rating.

Markets
Futures at 9:01: Dow +0.20%. S&P +0.21%. Nasdaq +0.43%. Crude +0.77% to $80.29. Gold +0.33% to $1646.60.

Europe: London +1.61%. Paris +1.27%. Frankfurt +0.55%.

Asia: Japan +1.66%. India -0.46%. Hong Kong +5.67%. China -0.26%.