Morning Coffee Pre-Market Wall Street News

Microsoft’s Windows 8 is here. Microsoft's (MSFT) new operating system along with their new Surface tablet both are officially available to purchase. The new OS is the company’s attempt to bring similar consumer experiences across computers, smartphones, tablets and their Xbox gaming machine.  It’s the biggest change Microsoft has made to its operating system and unfortunately reviews have been mixed at best.

Upgrades

NetSuite (N): Northland Securities raised their rating from Market Perform to Outperform and placed a target price of $70.00 on the company.

Expedia (EXPE): The Benchmark Company raised their rating from Hold to Buy and placed a target price of $67.00 on the company. Pre-market: 59.55 +8.30 (16.20%)

Expedia (EXPE): Lazard Capital raised their rating from Neutral to Buy. Pre-market: 59.55 +8.30 (16.20%)

Expedia (EXPE): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $70.00 on the company. Pre-market: 59.55 +8.30 (16.20%)

Coinstar (CSTR): Compass Point raised their rating from Neutral to Buy.

Target Corp (TGT): Buckingham raised their rating from Neutral to Buy and placed a target price of $73.00 on the company. Pre-market: 63.45 +0.33 (0.52%)

Phillips 66 (PSX): Credit Suisse raised their rating from Neutral to Outperform and raised their target price from $53.00 to $60.00. Pre-market: 45.70 +0.67 (1.49%)

Downgrades

Caterpillar (CAT): Goldman Sachs lowered their rating from Conviction Buy to Buy and placed a target price of $103.00 on the company.

Deckers Outdoor (DECK): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 28.82 -6.67 (-18.79%)

Dean Foods (DF): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 18.79 0.00 (0.00%)

Electronic Arts (EA): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 12.02 -0.19 (-1.56%)

Coverage Initiated

Dicks Sporting Goods (DKS): BMO Capital Markets initiated coverage with a Market Perform rating.

Coverage Reiterated/Price Target Changed

Coinstar (CSTR): Northland Securities reiterated their Market Perform rating and lowered their target price from $52.00 to $48.00. Pre-market: 40.50 -2.73 (-6.32%)

Procter & Gamble (PG): Caris & Company their Average rating and raised their target price from $22.00 to $72.00. Pre-market: 69.90 -0.17 (-0.24%)

Earning Reports

Apple (AAPL): Reported EPS of $8.67 missing estimates by -$0.08. Pre-market: 611.33 +1.79 (0.29%)

Chubb (CB): Reported EPS of $1.98 beating estimates by +$0.51. Pre-market: 79.65 +0.26 (0.33%)

Coinstar (CSTR): Reported EPS of $1.14 missing estimates by -$0.03. Pre-market: 40.50 -2.73 (-6.32%)

Deckers Outdoor (DECK): Reported EPS of $1.18 beating estimates by +$0.13. Pre-market: 28.82 -6.67 (-18.79%)

Eastman (EMN): Reported EPS of $1.57 beating estimates by +$0.15. Pre-market: 55.93 +2.28 (4.25%)

Expedia (EXPE): Reported EPS of $1.32 beating estimates by +$0.15. Pre-market: 59.55 +8.30 (16.20%)

Markets: 
Futures at 8:18: Dow -0.47%. S&P -0.48%. Nasdaq -0.11%. Crude -0.22% to $85.86. Gold -0.39% to $1706.30.

Europe: London -0.28%. Paris +0.24%. Frankfurt +0.19%. 

Asia: Japan -1.35% to 8933. Hong Kong -1.21% to 21546. China -1.68% to 2066. India +0.26% to 18758.