MORNING COFFEE

Money Flows Out of EU and China. Money is continuing to flow out of the eurozone and seem to be accelerating, as investors move their money to stocks, bonds, forex, and real estate overseas in an attempt to protect themselves from a eurozone break-up or a series of bank failures. The outflow of funds is most pronounced in Greece, Portugal and Italy. Additionally China saw a capital outflow in November, which was the second month in a row. This was the first back-to-back outflow in over a decade. One economist is saying it’s just the beginning.

Upgrades

DTE Energy (DTE): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from %56.00 to $59.00.

Downgrades

Telefonica S.A. (TEF): HSBC Securities lowered their rating from Overweight to Neutral. Pre-market: 16.92 +0.29 (1.74%)

Coverage Initiated

Abbott Labs (ABT): Cowen initiated coverage with a Neutral rating. Pre-market: 55.01 +0.12 (0.22%)

Groupon (GRPN): Barrington initiated coverage with an Outperform rating and target price of $30.00.

Vail Resorts (MTN): Credit Suisse initiated coverage with an Outperform rating and target price of $56.00.

Nestle(NSRGY): Credit Suisse initiated coverage with a Neutral. After Hours: 54.40 -0.02 (-0.04%)

Markets: 
Futures at 7:05: Dow +0.53%. S&P +0.69%. Nasdaq +0.58%. Crude +0.56% to $94.04. Gold -0.13% to $1595.90. 

Europe: London +0.35%. Paris +1.06%. Frankfurt +1.16%. 

Asia: Japan -1.26% to 8402. Hong Kong -1.18% to 18285. China -0.30% to 2225. India -0.72% to 15491.