Morning Coffee Pre-Market Wall Street News

JCPenney Shares Drive on Earnings. J.C. Penney's (JCP) shares are lower in the premarket after the retailer announced Q4 results. JCP's net losses grew almost six-fold to $552 million, losses per share were $0.24 and revenue fell 28.4% to $3.8 billion.  Additionally, the company gave no future guidance. CEO Ron Johnson said he made "big mistakes" in his attempts to turn JCP around. Pre-market: 17.42 -3.74 (-17.67%)

Groupon Shares Under Heavy Pressure. Groupon's (GRPN) reported Q4 earnings yesterday after the market close and the shares are under heavy pressure in the pre-market. The company reported losses per share of $0.12 missing estimates by $0.15. Revenues at the company rose 30% to $638.3 million coming in with estimates.  The company's net loss widened 24% to $81.1 million and the company gave Q1 future guidance below estimates. Pre-market: 4.34 -1.64 (-27.46%)

Upgrades

AB InBev (BUD): Credit Suisse raised their rating from Neutral to Outperform.

Deutsche Bank (DB): Keefe Bruyette raised their rating from Market Perform to Outperform. Pre-market: 45.83 -0.15 (-0.33%)

Edison International (EIX): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $47.00 to $56.00.

Joy Global (JOY): CLSA raised their rating from Underperform to Perform.

Downgrades

Boston Beer Co (SAM): Williams Capital Group lowered their rating from Outperform to Perform.

Groupon (GRPN): Raymond James lowered their rating from Market Perform to Underperform. Pre-market: 4.34 -1.64 (-27.46%)

Groupon (GRPN): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target range from $6.00-$7.00 to $5.00-$6.00. Pre-market: 4.34 -1.64 (-27.46%)

Saks (SKS): Morgan Stanley lowered their rating from Equal Weight to Underweight and placed a target price of $10.00 on the company.

UBS (UBS): Keefe Bruyette lowered their rating from Outperform to Market Perform.

Coverage Initiated

eBay (EBAY): BMO Capital initiated coverage with an Outperform rating and target price of $64.00. Pre-market: 54.48 +0.33 (0.61%)

VMware (VMW): Stifel Nicolaus initiated coverage with a Hold rating. Pre-market: 73.00 +0.18 (0.25%)

Earning Reports

Chico's FAS (CHS): Reported EPS of $0.20 in-line with estimates. Pre-market: 15.99 -0.42 (-2.56%)

JC Penny (JCP): Reported EPS of $1.95 missing estimates by -$1.78. Pre-market: 17.42 -3.74 (-17.67%)

Kohl's (KSS): Reported EPS of $1.66 beating estimates by +$0.03. Pre-market: 45.00 -1.61 (-3.45%)

Sears Holdings (SHLD): Reported EPS of $1.12 in-line with estimates. Pre-market: 48.50 +1.03 (2.17%)

Sturm Ruger (RGR): Reported EPS of $1.00 beating estimates by +$0.18. re-market: 54.25 +0.74 (1.38%)

Toronto-Dominion Bank (TD): Reported EPS of $2.00 beating estimates by +$0.07.

Visteon (VC): Reported EPS of $0.74 missing estimates by -$0.14.

Markets: 
Futures at 7:38: Dow +0.07%. S&P +0.11%. Nasdaq +0.17%. Crude -0.08% to $92.69. Gold -0.374% to $1589.80.

Europe: London +0.30%. Paris +0.13%. Frankfurt +0.62%. 

Asia: Japan +2.71% to 11559. Hong Kong +1.96% to 23020. China +2.26% to 2366. India -1.52% to 18862.