Morning Coffee Pre-Market Wall Street News

Alcoa Set To Kick Off Q4 Earnings Season. Alcoa (AA) is set to kick off Q4 earnings season after the market close today. Analysts’ consensus is for the company to report EPS of $0.06 versus a loss of -$0.03 a year ago. 

Eurozone Unemployment Hits Record High. Eurozone unemployment hit a record high rising to 11.8% in November, with over 18.8 million people unemployed. Unemployment for youth rose to 24.4%. The country with the worst unemployment was Spain at 26.6%.

Upgrades

Kennamental (KMT): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $52.00 on the company.

Downgrades

EMC (EMC): William Blair lowered their rating from Outperform to Market Perform. Pre-market: 23.80 -0.33 (-1.37%)

Boeing (BA): BB&T Capital Markets lowered their rating from Buy to Hold. Pre-market: 75.10 -1.03 (-1.35%)

Decker Outdoors (DECK): Robert W. Baird lowered their rating from Outperform to Neutral and placed a target price of $45.00 on the company. Pre-market: 38.25 -0.73 (-1.87%)

Ball Corp (BLL): Robert W. Baird lowered their rating from Outperform to Neutral and placed a target price of $48.00 on the company.

Noble Corp (NE): Raymond James lowered their rating from Outperform to Market Perform.

Illinois Tool Works (ITW): JPMorgam lowered their rating from Neutral to Underweight and placed a target price of $60.00 on the company. Pre-market: 61.61 -0.65 (-1.04%)

Halliburton (HAL): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $44.00 to $42.00. Pre-market: 36.10 -0.55 (-1.50%)

National Oilwell (NOV): RBC Capital lowered their rating from Outperform to Sector Perform and lowered their rating from $88.00 to $80.00. Pre-market: 70.50 -0.85 (-1.19%)

Coverage Initiated

ADT (ADT): Stifel Nicolaus initiated coverage with a Buy rating and target price of $56.00. Pre-market: 47.00 +0.34 (0.73%)

Molson Coors Brewing (TAP): ISI Group initiated coverage with a Neutral rating and target price of $45.00.

AB InBev (BUD): ISI Group initiated coverage with a Buy rating and target price of $100.00. Pre-market: 86.64 -0.96 (-1.10%)

Delphi Automotive (DLPH): CLSA initiated coverage with an Outperform rating and target price of $44.00.

Earning Reports

Acuity Brands (AYI): Reported EPS of $0.69 missing estimates by -0.11. Pre-market: 66.81 -2.16 (-3.13%)

Monsanto (MON): Reported EPS of $0.62 beating estimates by +$0.20. Pre-market: 99.75 +3.81 (3.97%)

Markets: 
Futures at 7:46: Dow -0.02%. S&P -0.12%. Nasdaq -0.10%. Crude +0.29% to $93.46. Gold +0.31% to $1651.40.

Europe: London +0.14%. Paris +0.57%. Frankfurt +0.04%. 

Asia: Japan -0.86% to 10508. Hong Kong -0.94% to 23111. China -0.41% to 2276. India +0.26% to 19743.