Morning Coffee Pre-Market Wall Street News

Disney Beats Earnings Forecast Disney (DIS) reported Q1 EPS that beat Wall Street estimates.  EPS at the company came in at $0.79 and revenue rose 5% to $11.34 billion. The company also forecast improved income over the next few quarters. CEO Bob Iger also announced that the company plans to develop films using the Star Wars characters scheduled for release between 2015 and 2021. Pre-market: 56.10 +1.81 (3.33%)

Upgrades

Church Dwight (CHD): CLSA raised their rating from Underperform to Outperform and raised their target price from $56.00 to $65.00.

Electronic Arts (EA): Sterne Agee raised their rating from Neutral to Buy and placed a target price of $22.00 on the company. Pre-market: 16.95 +0.06 (0.36%)

Downgrades

Dell (DELL): Argus lowered their rating from Hold to Sell. Pre-market: 13.40 -0.02 (-0.15%)

Dell (DELL): CLSA lowered their rating from Outperform to Underperform. Pre-market: 13.40 -0.02 (-0.15%)

DreamWorks Animation (DWA): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $25.00 to $18.00. Pre-market: 16.92 -0.50 (-2.87%)

Expedia (EXPE): RBC Capital lowered their rating from Outperform to Sector Perform and lowered their target price from $73.00 to $70.00.

Morgan Stanley (MS): SunTrust lowered their rating from Neutral to Reduce. Pre-market: 23.18 -0.22 (-0.94%)

PNC Financial (PNC): SunTrust lowered their rating from Buy to Neutral.

Coverage Initiated

Footlocker (FL): Robert W. Baird initiated coverage with an Outperform rating and target price of $45.00.

Finish Line (FINL): Robert W. Baird initiated coverage with a Neutral rating and target price of $21.00.

US Bancorp (USB): Nomura initiated coverage with a Buy rating and target price of $38.00. Pre-market: 33.03 -0.10 (-0.30%)

Wells Fargo (WFC): Nomura initiated coverage with a Buy rating and target price of $42.00. Pre-market: 34.78 -0.07 (-0.20%)

Earning Reports

AFLAC (AFL): Reported EPS of $1.48 in-line with estimates. Pre-market: 52.99 -0.50 (-0.93%)

Walt Disney (DIS): Reported EPS of $0.79 beating estimates by +$0.02. Pre-market: 56.10 +1.81 (3.33%)

CVS Caremark (CVS): Reported EPS of $1.14 beating estimates by +$0.04. Pre-market: 52.50 +0.78 (1.51%)

Marathon Oil (MRO): Reported EPS of $0.55 missing estimates by +$0.12. Pre-market: 33.75 -0.97 (-2.79%)

Time Warner (TWX): Reported EPS of $1.17 beating estimates by +$0.07. Pre-market: 51.28 +1.32 (2.64%)

Markets: 
Futures at 7:00: Dow -0.11%. S&P -0.19%. Nasdaq -0.34%. Crude -1.23% to $95.47. Gold +0.07% to $1674.70.

Europe: London +0.26%. Paris -0.96%. Frankfurt -0.90%. 

Asia: Japan +3.77% to 11464. Hong Kong +0.47% to 23257. China +0.06% to 2434. India -0.10% to 19640.