Morning Coffee Pre-Market Wall Street News

Eurozone Economy In Double Dip Recession. The Eurozone’s GDP fell by an expected 0.1% in Q3 after falling in Q2 by 0.2% sending the region into its second recession since 2009. Germany the zone largest economy continued to contract falling to 0.2% from 0.3%, Economist feel that Q4 will show continued contraction.

Upgrades

Halliburton (HAL): CLSA raised their rating from Underperform to Buy and placed a target price of $38.00 on the company. Pre-market: 30.30 +0.35 (1.17%)

Express Scripts (ESRX): Citigroup raised their rating from Neutral to Buy and placed a target price of $62.00 on the company. Pre-market: 50.57 +0.52 (1.04%)

Baker Hughes (BHI): CLSA raised their rating from Outperform to Buy and placed a target price of $38.00 on the company. Pre-market: 40.09 +0.45 (1.14%)

Abercrombie & Fitch (ANF): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $54.00 on the company. Pre-market: 41.93 +0.01 (0.02%)

Downgrades

Paychex (PAYX): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price from $36.00 to $35.00. Pre-market: 31.17 -0.38 (-1.19%)

Coverage Initiated

Exelis (XLS): Stifel Nicolaus initiated coverage with a Hold rating.

Earning Reports

Children's Place (PLCE): Reported EPS of $1.60 in-line with estimates. Pre-market: 51.99 -5.01 (-8.79%)

Dollar Tree (DLTR): Reported EPS of $0.51 beating estimates by +$0.02. Pre-market: 40.35 +2.59 (6.86%)

Perry Ellis (PERY): Reported EPS of $0.25 beating estimates by +$0.01.

Sally Beauty (SBH): Reported EPS of $0.39 beating estimates by +$0.03. Pre-market: 24.00 -0.75 (-3.03%)

Target (TGT): Reported EPS of $0.81 in-line with estimates. Pre-market: 61.85 +0.47 (0.77%)

Wal-Mart (WMT): Reported EPS of $1.08 beating estimates by +$0.01. Pre-market: 68.99 -2.32 (-3.25%)

Markets: 
Futures at 7:30: Dow -0.20%. S&P +0.07%. Nasdaq +0.09%. Crude +0.18% to $86.46. Gold -0.66% to $1718.50.

Europe: London -0.43%. Paris -0.44%. Frankfurt -0.91%. 

Asia: Japan +1.90% to 8830. Hong Kong -1.55% to 21109. China -1.22% to 2030. India -0.79% to 18471.