MORNING COFFEE

Financial Bills Fail. In a vote last night in the Senate, both the Democrats and Republicans blocked each others' fiscal plans. The Democrat bill would have raised taxes on millionaires and protected union public service jobs.  The Republican measure would have repealed a 3% corporate withholding tax.

Upgrades

Synaptics (SYNA): Needham raised their rating from Underperform to Hold. Pre-market: 30.10 +3.08 (11.40%)

Synaptics (SYNA): Craig-Hallum raised their rating from Hold to Buy and placed a target price of $36.00 on the company. Pre-market: 30.10 +3.08 (11.40%)

Seagate Tech (STX): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $13.00 to $17.00. Pre-market: 13.82 +1.76 (14.59%)

Altera (ALTR): Mizuho Baird raised their rating from Neutral to Buy and raised their target price from $36.00 to $40.00. Pre-market: 34.05 +1.02 (3.09%)

Wynn Resorts (WYNN): BMO Capital raised their rating from Market Perform to Outperform and placed a target price of $167.00 on the company. Pre-market: 125.55 +2.18 (1.77%)

Downgrades

Intl Flavors (IFF): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 59.35 -0.31 (-0.52%)

PETsMART (PETM): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $50.00 - $53.00 to $47.00 - $50.00.

BHP Billiton Ltd (BHP): HSBC lowered their rating from Overweight to Neutral. Pre-market: 73.86 +1.22 (1.68%)

BHP Billiton Ltd (BHP): Societe Generale lowered their rating from Buy to Hold. Pre-market: 73.86 +1.22 (1.68%)

Coverage Reiterated/Price Target Changed 

Seagate Tech (STX): Brean Murray reiterated Buy rating and raised their target price from $15.00 to $18.00. . Pre-market: 13.82 +1.76 (14.59%)

Union Pacific (UNP): Dahlman Rose reiterated Buy rating and raised their target price from $118.00 to $120.00.

Markets: 
Futures at 8:21: Dow +0.97%. S&P +1.11%. Nasdaq +1.06%. Crude +1.23% to $87.12. Gold +1.46% to $1636.70 

Europe: London +1.10%. Paris +1.80%. Frankfurt +2.38%. 

Asia: Japan -0.04% at 8679. Hong Kong +0.24% to 18026. China -0.60% to 2317. India -0.89% to 16786.