MORNING COFFEE

Thermo Fisher Acquires One Lambda. Thermo Fisher Scientific (TMO) the health-care equipment company will acquire One Lambda.  One Lambda is a provider of testing equipment and software which will add to Thermo’s line of offerings. The deal worth $925 million is expected to be completed in Q4, and add $0.09-$0.11 to adjusted EPS in 2013.

Upgrades

Qualcomm (QCOM): Societe Generale raised their rating from Sell to Hold and placed a target price of $57.00 on the company. Pre-market: 55.15 +0.17 (0.31%)

Starwood Hotels (HOT): MKM Partners raised their rating from Neutral to Buy and raised their target price from $60.00 to $65.00.

Anadarko Petroleum (APC): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $60.00 to $65.00.

Wells Fargo (WFC): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $38.00. Pre-market: 33.95 +0.04 (0.12%)

Downgrades

SanDisk (SNDK): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $48.00 to $32.00.

Texas Instruments (TXN): FBR Capital lowered their rating from Market Perform to Underperform and placed a target price of $24.50. Pre-market: 26.26 -0.76 (-2.81%)

Anheuser Budweiser InBev (BUD): Bernstein lowered their rating from Outperform to Market Perform. Pre-market: 75.55 -1.92 (-2.48%)

Coverage Initiated

Phillips 66 (PSX): Oppenheimer initiated coverage with an Outperform rating and target price of $42.00.

Dana Holdings (DAN): Lazard Capital initiated coverage with a Neutral rating.

Earning Reports

Citigroup (C): Reported EPS of $0.95 beating estimates by +$0.05. Pre-market: 26.71 +0.06 (0.23%)

Markets: 
Futures at 7:04: Dow -0.23%. S&P -0.27%. Nasdaq -0.28%. Crude -0.39% to $86.76. Gold -0.50% to $1584.00.

Europe: London -0.01%. Paris -0.24%. Frankfurt -0.11%. 

Asia: Japan +0.05%. Hong Kong +0.15%. China -1.74%. India -0.64%.