Morning Coffee Pre-Market Wall Street News

Google Wins Judgment Against Microsoft. In a week long trail Google (GOOG) has won a judgment against Microsoft (MSFT) for infringing on the company’s wireless and video patents. Google wants the judge to award damages of $4 billion a year. Microsoft on the other hand says that Google only deserves $1 million. GOOG Pre-market: 671.74 +1.77 (0.26%) MSFT Pre-market: 26.75 +0.04 (0.15%)

Upgrades

Sketchers USA (SKX): Susquehanna raised their rating from Neutral to Positive and raised their target price from $19.00 to $22.00.

Downgrades

Hewlett-Packard (HPQ): Mizuho lowered their rating from Neutral to Underperform. Pre-market: 11.76 +0.05 (0.43%)

Hewlett-Packard (HPQ): RBC Capital lowered their rating from Outperform to Sector Perform and lowered their target price from $18.00 to $14.00. Pre-market: 11.76 +0.05 (0.43%)

Hormel Foods (HRL): CLSA lowered their rating from Outperform to Underperform and placed a target price of $32.00 on the company. Pre-market: 29.50 -0.55 (-1.83%)

St Jude Medical (STJ): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $49.00 - $50.00 to $35.00 - $36.00.

Coverage Initiated

Celgene (CELG): Brean Capital initiated coverage with a Buy rating and target price of $100.00. Pre-market: 77.60 +0.48 (0.62%)

Biogen (BIIB): Brean Capital initiated coverage with a Buy rating and target price of $184.00. Pre-market: 149.00 +0.85 (0.57%)

Yum! Bands (YUM): Macquarie initiated coverage with an Outperform rating and target price of $93.00.

Coverage Reiterated/Price Target Changed 

Dycom (DY): Stifel Nicolaus reiterated their Buy rating and raised their target price from $18.00 to $22.00.

Tilly’s (TLYS): Reported EPS of $0.30 in-line with estimates. Pre-market: 13.37 -2.29 (-14.62%)

Zale (ZLC): Reported EPS of -$0.88 missing estimates by -$0.25. Pre-market: 6.39 -1.05 (-14.11%)

Deere (DE): Reported EPS of $1.75 missing estimates by -$0.13. Pre-market: 83.68 -2.31 (-2.69%)

Markets: 
Futures at 8:07: Dow -0.06%. S&P +0.03%. Nasdaq +0.07%. Crude +1.20% to $87.79. Gold +0.17% to $1726.60.

Europe: London +0.09%. Paris +0.34%. Frankfurt +0.19%. 

Asia: Japan +0.87% to 9223. Hong Kong +1.39% to 21524. China +1.07% to 2030. India +0.72% to 18460.