MORNING COFFEE Pre-market Wall Street News

Wall Street Waits For Microsoft and Google’s Earnings. Tech giants Microsoft (MSFT) and Google (GOOG) are due to report earnings today after the market close.  Analysts are expecting that Microsoft will continue to just tread water while Google will show continued growth.  Microsoft's EPS consensus is for the company to report EPS of $0.59 down from $0.068 a year-ago.  Revenues are expected to drop 5.5% to $16.42 billion. In contrast Google's EPS are expected to increase to $10.66 from $9.72. Revenues at Google are expected to raise a whopping 58% to $11.87 billion. (MSFT) Pre-market: 29.57 -0.02 (-0.07%) (GOOG) Pre-market: 754.00 -1.49 (-0.20%)

Upgrades

Comerica (CMA): Stifel Nicolaus raised their rating from Sell to Hold.

ConocoPhillips (COP): Goldman Sachs raised their rating from Sell to Neutral and maintained their target price of $55.00. Pre-market: 58.27 +0.15 (0.26%)

Harley-Davidson (HOG): Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $54.00 on the company. Pre-market: 44.61 +0.61 (1.39%)

Downgrades

Xylem (XYL): Ladenburg Thalmann lowered their rating from Buy to Hold.

Stryker (SYK): Oppenheimer lowered their rating from Outperform to Perform and lowered their target price from $59.00 to $56.00. Pre-market: 51.90 -0.92 (-1.74%)

Abbott Labs (ABT): Raymond James lowered their rating from Outperform to Market Perform. Pre-market: 66.80 -2.24 (-3.24%)

Coverage Initiated

Fossil (FOSL): Caris & Company initiated coverage with an Above Average rating and target price of $104.00. Pre-market: 89.25 -0.29 (-0.32%)

Stryker (SYK): Northland Securities initiated coverage with a Market Perform rating and target price of $52.00. Pre-market: 51.90 -0.92 (-1.74%)

Coverage Reiterated/Price Target Changed 

Halliburton (HAL): Dahlman Rose reiterated their Buy rating and lowered their target price from $49.00 to $47.00. Pre-market: 34.99 -0.33 (-0.93%)

Earning Reports

Baxter (BAX): Reported EPS of $1.14 in-line with estimates. Pre-market: 61.90 -0.02 (-0.03%)

BB&T (BBT): Reported EPS of $0.66 missing estimates by -$0.06. Pre-market: 31.04 -1.23 (-3.81%)

Diamond Offshore (DO): Reported EPS of $1.28 beating estimates by +0.26. Pre-market: 71.25 +1.48 (2.12%)

Fifth Third (FITB): Reported EPS of $0.38 in-line with estimates. Pre-market: 15.25 +0.12 (0.79%)

Morgan Stanley (MS): Reported EPS of $0.28 beating estimates by +0.03. Pre-market: 18.68 +0.19 (1.03%)

Nokia (NOK): Reported EPS of -$0.07 beating estimates by +0.03. Pre-market: 2.91 -0.03 (-1.02%)

Polaris Inds (PII): Reported EPS of $1.33 beating estimates by +0.13. Pre-market: 86.27 +0.99 (1.16%)

Snap-On (SNA): Reported EPS of $1.26 beating estimates by +0.03. Pre-market: 76.00 +1.75 (2.36%)

Verizon (VZ): Reported EPS of $0.64 in-line with estimates. Pre-market: 45.25 +0.53 (1.19%)

Markets: 
Futures at 8:19: Dow +0.06%. S&P -0.23%. Nasdaq -0.27%. Crude -0.31% to $91.83. Gold -0.69% to $1740.0.

Europe: London -0.17%. Paris -0.34%. Frankfurt +0.28%. 

Asia: Japan +2.00% to 8983. Hong Kong +0.48% to 21519. China +1.24% to 2132. India +0.97% to 18792.