MORNING COFFEE

UAW to Approve Ford Deal. After several setbacks with the UAW, Ford’s (F) latest contract offer appears to be on track for approval.  Two major locals of the UAW cast their votes and with two thirds of the vote in 62% of the members approved the agreement.

Earning Reports

Charles Schwab (SCHW): Reported EPS of $0.18 missing estimates by -$0.01.

Citigroup (C): Reported EPS of $0.84 beating estimates by +$0.03.

Halliburton (HAL): Reported EPS of $0.94 beating estimates by +$0.02.

Wells Fargo (WFC): Reported EPS of $0.72 missing estimates by -$0.01.

Upgrades

Xilinix (XLNX): Auriga raised their rating from Hold to Buy and raised their target price from $34.00 to $36.00.

Proctor & Gamble (PG): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $71.00 to $75.00.  

Downgrades

Fifth Third (FITB): Compass Point lowered their rating from Buy to Neutral and lowered their target price from $17.50 to $13.00.

Apple (AAPL): BGC Financial lowered their rating from Buy to Hold and maintained their target price of $450.00 on the company.

Coverage Initiated

Archer-Daniels (ADM): Argus initiated coverage with a Hold rating.

Markets: 

Futures at 8:51: Dow -0.23%. S&P -0.17%. Nasdaq -0.36%. Crude +0.12% to $87.87. Gold +0.27% to $1687.50. 

Europe: London -0.12%. Paris -0.42%. Frankfurt -0.92%. 

Asia: Japan +1.50% to 8879.6. Hong Kong +2.01% to 18874. China+0.37% to 2440. India -0.34% to 17025.