MORNING COFFEE

Will Greece Default? The deadline for Greece’s debt-swap is tomorrow and it appears that it could go either way for the country.  Currently some Greek pension funds and foreign investors have rejected the offer, and the government has threatened default. But some of the largest private holders of Greek debt have said they will accept the debt-swap.  Reports say that SocGen, Assicurazioni Generali and UniCredit, as well as Greece's six largest banks will accept the deal.

Upgrades

Dicks Sporting Goods (DKS): Sterne Agee raised their rating from Underperform to Neutral. Pre-market: 47.06 +0.17 (0.36%)

Nestle (NSRGY): Exane BNP Paribas raised their rating from Neutral to Outperform.

Downgrades

Unilever (UN/UL): Exane BNP Paribas lowered their rating from Outperform to Neutral. UN Pre-market: 32.83 +0.19 (0.58%) UL Pre-market: 32.06 +0.15 (0.47%)

Kraft Foods (KFT): Jefferies lowered their rating from Buy to Hold and raised their target price from $40.00 to $41.00. Pre-market: 38.11 -0.16 (-0.42%)

Coverage Initiated

Xilinx (XLNX): Nomura initiated coverage with a Neutral rating and target price of $38.00.

Marathon Oil (MRO): Global Hunter initiated coverage with a Neutral rating and target price of $37.00. After Hours: 32.27 -0.15 (-0.46%)

Noble Energy (NBL): Global Hunter initiated coverage with an Accumulate and target price of $115.00. After Hours: 94.75 0.00 (0.00%)

Marathon Petroleum (MPC): The benchmark Company initiated coverage with a Hold rating and target price of $39.00. After Hours: 42.03 +0.04 (0.08%)

Moody’s (MCO): UBS initiated coverage with a Neutral rating and target price of $41.00.

Earning Reports

Brown Shoe (BWS): Reported EPS of $0.10 missing estimates by -$0.10. Pre-market: 10.05 -0.38 (-3.64%)

Ciena (CIEN): Reported EPS of -$0.17 missing estimates by -$0.13. Pre-market: 14.35 +0.91 (6.77%)

Children’s Place (PLCE): Reported EPS of $0.87 missing estimates by -$0.02. Pre-market: 48.42 -4.01 (-7.65%)

Markets: 
Futures at 6:35: Dow +0.43%. S&P +0.35%. Nasdaq +0.41%. Crude +0.43% to $105.16. Gold +0.59% to $1682.00. 

Europe: London +0.32%. Paris +0.59%. Frankfurt +0.12%. 

Asia: Japan -0.64% to 9576. Hong Kong -0.86% to 20628. China -0.65% to 2395. India -0.16% to 17146.