Morning Coffee Pre-Market Wall Street News

Pentagon To Stop Using BlackBerries Exclusively. 

The Pentagon announced that there are requesting bids for software that can manage and enforce security for Apple (APPL) and Android (GOOG) devices. The agency has for years only used BlackBerries (RIMM) and said that they would continue supporting "large numbers" of BlackBerries.   Pre-market: 7.98 +0.05 (0.69%)

Sharp Gives Warning To Apple. 

Sharp (SHCAY), which is a major supplier to Apple (AAPL), warned that there is "material doubt" about the company’s ability to survive after posting a much larger than expected FQ2 net loss of ¥249.1B ($3.11B).  The company took a special loss of ¥84.4B on restructuring costs and wrote down deferred tax assets by ¥61B. The company also gave FY guidance of a net loss of ¥450B.

Upgrades

Cirrus Logic (CRUS): Needham raised their rating from Buy to Strong Buy and raised their target price from $53.00 to $57.00. Pre-market: 41.97 +1.19 (2.92%)

Total SA ADS (TOT): Societe Generale raised their rating from Hold to Buy.

Downgrades

Netflix (NFLX): Oppenheimer lowered their rating from Outperform to Perform. Pre-market: 77.25 -1.99 (-2.51%)

PriceSmart (PSMT): The Benchmark Company lowered their rating from Buy to Hold.

Zumiez (ZUMZ): DA DAvidson lowered their rating from Buy to Neutral and lowered their target price from $36.00 to $25.00. Pre-market: 21.43 -3.89 (-15.36%)

Western Union (WU): First Analysis lowered their rating from Overweight to Equal Weight. Pre-market: 12.88 +0.15 (1.19%)

Johnson Controls (JCI): Needham lowered their rating from Buy to Hold.

Earning Reports

Cirrus Logic (CRUS): Reported EPS of $0.79 beating estimates by +$0.08. Pre-market: 41.97 +1.19 (2.92%)

Visa (V): Reported EPS of $1.54 beating estimates by +$0.04. Pre-market: 141.21 +2.45 (1.77%)

Automatic Data Processing (ADP): Reported EPS of $0.62 in-line with estimates.

CIGNA (CI): Reported EPS of $1.71 beating estimates by +$0.35. After Hours: 50.53 -0.47 (-0.92%)

Delphi Automotive (DLPH): Reported EPS of $0.84 beating estimates by +$0.13.

Exxon Mobil (XOM): Reported EPS of $2.09 beating estimates by +$0.16. Pre-market: 90.70 -0.47 (-0.52%)

Invesco (IVZ): Reported EPS of $0.42 missing estimates by -$0.02.

L-3 Comms (LLL): Reported EPS of $1.87 beating estimates by +$0.01.

Pfizer (PFE): Reported EPS of $0.53 beating estimates by +$0.01. Pre-market: 24.51 -0.36 (-1.45%)

Teva Pharma (TEVA): Reported EPS of $1.28 beating estimates by +$0.03. Pre-market: 40.75 +0.33 (0.82%)

Watson Pharm (WPI): Reported EPS of $1.30 in-line with estimates. After Hours: 85.67 -0.28 (-0.33%)

Xylem (XYL): Reported EPS of $0.44 beating estimates by +$0.01.

Markets: 
Futures at 8:00: Dow -0.02%. S&P +0.02%. Nasdaq +0.21%. Crude +0.21% to $86.4. Gold +0.37% to $1725.50.

Europe: London +0.67%. Paris +0.70%. Frankfurt +0.71%. 

Asia: Japan +0.21% to 8947. Hong Kong +0.83% to 21822. China +1.72% to 2104. India +0.30% to 18562.