Morning Coffee Pre-Market Wall Street News

EU Manufacturing Continues to Decline. Manufacturing in the Eurozone continues to decline despite attempts to stabilize the economy. The flash manufacturing PMI fell to 45.3 in October from 46.1 in September. Even more worrisome was the fact that activity in Germany declined sharply. Any number below 50 indicates a contracting economy. Economists now believe that stepper declines may occur in Q4 and future sentiment is the lowest since the Lehman Brothers crisis during early-2009

Upgrades

Facebook (FB): Stifel Nicolaus raised their rating from Hold to Buy and placed a target price of $26.00 on the company. Pre-market: 24.37 +4.87 (24.97%)

Facebook (FB): Citigroup raised their rating from Neutral to Buy and lowered their target price from $35.00 to $30.00. Pre-market: 24.37 +4.87 (24.97%)

RF Micro Device (RFMD): Northland Securities raised their rating from Market Perform to Outperform and placed a target price of $26.00 on the company. Pre-Market: 4.47 +0.54 (13.74%)

Molycorp (MCP): Dahlman Rose raised their rating from Hold to Buy and placed a target price of $14.07 on the company. Pre-market: 11.27 +0.47 (4.35%)

Whirlpool Corp (WHR): Raymond James raised their rating from Outperform to Strong Buy and placed a target price of $115.00 on the company. Pre-market: 95.68 +1.87 (1.99%)

Downgrades

Air Products (APD): KeyBanc Capital Markets lowered their rating from Buy to Hold. Pre-market: 77.13 -0.15 (-0.19%)

AB InBev (BUD): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $62.50 on the company. Pre-market: 86.20 +0.11 (0.13%)

Coverage Reiterated/Price Target Changed 

Apple (AAPL): Canaccord Genuity reiterated their Buy rating and raised their target price from $797.00 to $800.00. Pre-market: 618.48 +5.12 (0.84%)

Facebook (FB): Cantor Fitzgerald reiterated their Buy rating and raised their target price from $26.00 to $28.00. Pre-market: 24.37 +4.87 (24.97%)

Netflix (NFLX): Oppenheimer reiterated their Outperform rating and lowered their target price from $100.00 to $80.00. Pre-market: 56.01 -12.21 (-17.90%)

Earning Reports

AT&T (T): Reported EPS of $0.62 beating estimates by +$0.02. Pre-market: 35.00 0.00 (0.00%)

Boeing (BA): Reported EPS of $1.35 beating estimates by +$0.23. Pre-market: 74.70 +1.88 (2.58%)

Bristol-Myers (BMY): Reported EPS of $0.41 missing estimates by -$0.01. Pre-market: 32.35 -0.89 (-2.68%)

Eli Lilly (LLY): Reported EPS of $0.79 missing estimates by -$0.03. Pre-market: 50.45 -1.46 (-2.81%)

Facebook (FB): Reported EPS of $0.12 beating estimates by +$0.01. Pre-market: 24.37 +4.87 (24.97%)

General Dynamics (GD): Reported EPS of $1.70 missing estimates by -$0.08. Pre-market: 66.57 +0.36 (0.54%)

Kimberly-Clark (KMB): Reported EPS of $1.34 beating estimates by +$0.02. Pre-market: 86.41 +0.47 (0.55%)

Lockheed Martin (LMT): Reported EPS of $2.21 beating estimates by +$0.36. Pre-market: 92.45 +0.50 (0.54%)

Northrop Grumman (NOC): Reported EPS of $1.82 beating estimates by +$0.13.

Netflix (NFLX): Reported EPS of $0.13 beating estimates by +$0.09. Pre-market: 56.01 -12.21 (-17.90%)

Norfolk Southern (NSC): Reported EPS of Reported EPS of $1.24 beating estimates by +$0.01. Pre-market: 63.00 -3.01 (-4.56%)

Markets: 
Futures at 7:20: Dow +0.28%. S&P +0.45%. Nasdaq +0.41%. Crude +0.10% at $86.76. Gold +0.04% to $1709.0.

Europe: London +0.23%. Paris +0.40%. Frankfurt +0.28%. 

Asia: Japan -0.67% to 8954.3. Hong Kong +0.31% to 21764. China +0.07% to 2116. India -0.44% to 18710.