MORNING COFFEE

Apple Misses Wall Street Estimates. Apple (AAPL) reported FQ3 EPS of $9.32 missing Wall Street estimates by -$1.06. Revenues at the company came in at $35 billion. Apple also issued FQ4 guidance of $7.65 and $38 billion which was also below consensus estimates. Sales of iPads rose 44% to 17 million, but iPhone sales fell to 26 million from 35 million. Pre-market: 572.50 -28.42 (-4.73%)

Upgrades

Amgen (AMGN): Credit Suisse raised their rating from Neutral to Outperform and placed a target price of $85.00 on the company. Pre-market: 77.55 +1.18 (1.54%)

Chipotle Mexican Grill (CMG): Miller Tabak raised their rating from Hold to Buy and placed a target price of $350.00 on the company. Pre-market: 298.00 +3.69 (1.25%)

Buffalo Wild Wings (BWLD): B. Riley raised their rating from Neutral to Buy and raised their target price from $72.00 to $83.80. Pre-market: 70.10 -8.80 (-11.15%)

Dole Foods (DOLE): Bank of America / Merrill Lynch raised their rating from Underperform to Buy and raised their target price from $9.00 to $12.00. Pre-market: 9.94 +0.23 (2.37%)

Downgrades

Apple (AAPL): Raymond James lowered their rating from Strong Buy to Outperform and lowered their target price to $730.00. Pre-market: 572.50 -28.42 (-4.73%)

Netflix (NFLX): SunTrust lowered their rating from Strong Buy to Neutral. Pre-market: 64.44 -15.95 (-19.85%)

RF Micro Device (RFMD): Northland Securities lowered their rating from Outperform to Market Perform and lowered their target price from $10.00 to $4.50. Pre-market: 3.85 -0.43 (-10.15%)

Coverage Initiated

BlackRock (BLK): RBC Capital Markets initiated coverage with an Outperform rating and target price of $221.00.

ConAgra (CAG): KeyBanc Capital Markets initiated coverage with a Buy rating and target price of $30.00. Pre-market: 23.85 +0.04 (0.17%)

Coverage Reiterated/Price Target Changed 

Apple (APPL): ISI Group reiterated their Buy rating and lowered their target price from $750.00 to $710.00. Pre-market: 572.50 -28.42 (-4.73%)

Earning Reports

AFLAC (AFL): Reported EPS of $1.61 missing estimates by -$0.01.

Apple (AAPL): Reported EPS of $9.32 missing estimates by -$1.06. Pre-market: 572.50 -28.42 (-4.73%)

Compuware (CPWR): Reported EPS of $0.05 in-line with estimates.

International Game Tech (IGT): Reported EPS of $0.23 missing estimates by -$0.05.

Netflix (NFLX): Reported EPS of $0.11 beating estimates by +$0.06. Pre-market: 64.44 -15.95 (-19.85%)

Panera Bread (PNRA): Reported EPS of $1.50 beating estimates by +$0.07.

AOL (AOL): Reported EPS of $10.17 beating estimates by +$9.94.

Boeing (BA): Reported EPS of $1.27 beating estimates by +$0.16.

Bristol-Myers (BMY): Reported EPS of $0.48 in-line with estimates.

Caterpillar (CAT): Reported EPS of $2.54 beating estimates by +$0.24.

ConocoPhillips (COP): Reported EPS of $1.22 missing estimates by -$0.06.

Eli Lilly (LLY): Reported EPS of $0.83 beating estimates by +$0.07.

Ford Motor (F): Reported EPS of $0.30 beating estimates by +$0.01.

General Dynamics (GD): Reported EPS of $1.77 beating estimates by +$0.03.   

Northrop Grumman (NOC): Reported EPS of $1.88 beating estimates by +$0.27.   

      

PepsiCo (PEP): Reported EPS of $1.12 beating estimates by +$0.03.

Markets: 
Futures at 9:06: Dow +0.85%. S&P +0.66%. Nasdaq -0.15%. Crude +0.19% to $88.67. Gold +1.03% to $1592.50.

Europe: London +0.39%. Paris +0.97%. Frankfurt +0.97%. 

Asia: Japan -1.44%. Hong Kong -0.14%. China -0.49%. India -0.43%.