Morning Coffee Pre-Market Wall Street News

Economic Confidence Falls in Europe. For the second straight month economic confidence fell in the EU. Across the EU, sectors ranging from industry to retail trade showed falling confidence. The Economic Sentiment Indicator for the 17-country euro zone fell 1.5 percentage points to 88.6. Economist had estimated that the report would come in at 89.3. The new reading is the lowest in five months. Wall Street traders are now looking for the European Central Bank to lower the refi rate from 0.75% to 0.70%, a record low.

Upgrades

Abercrombie & Fitch (ANF): Macquarie raised their rating from Neutral to Outperform and raised their target price from $50.00 to $63.00.

Flir Systems (FLIR): JPMorgan raised their rating from Underweight to Neutral and maintained their target price of $26.50. Pre-market: 24.06 +0.31 (1.33%)

Republic Services (RSG): S&P raised their rating from 3 stars to 4 stars.

SunTrust Banks (STI): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $30.00 to $37.00.

Tenet Healthcare (THC): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $41.00 to $51.00. Pre-market: 41.56 +0.40 (0.97%)

Walt Disney (DIS): UBS raised their rating from Neutral to Buy and raised their target price from $55.00 to $72.00. Pre-market: 62.55 +0.68 (1.10%)

Downgrades

AB InBev (BUD): Bernstein lowered their rating from Outperform to Market Perform. Pre-market: 95.39 +1.26 (1.34%)

BASF (BASFY): Credit Suisse lowered their rating from Outperform to Neutral.

Ecolab (ECL): Robert W. Baird lowered their rating from Outperform to Neutral. Pre-market: 82.90 -0.04 (-0.05%)

Eastman Chemical (EMN): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $79.00 to $70.00.

Republic Services (RSG): Credit Suisse lowered their rating from Outperform to Neutral.

Union Pacific (UNP): TD Securities lowered their rating from Buy to Hold. Pre-market: 147.00 -0.52 (-0.35%)

WPP Group plc (WPPGY): HSBC Securities lowered their rating from Overweight to Neutral. Pre-market: 81.04 -1.30 (-1.58%)

Earning Reports

Eaton (ETN): Reported EPS of $0.84 beating estimates by +$0.05. Pre-market: 58.65 0.00 (0.00%)

Loews (L): Reported EPS of $0.62 missing estimates by -$0.28.

Penske Auto (PAG): Reported EPS of $.063 beating estimates by +$0.01. Pre-market: 30.00 +0.20 (0.67%)

Markets: 
Futures at 7:32: Dow +0.35%. S&P +0.35%. Nasdaq +0.41%. Crude +0.30% to $93.27. Gold +1.36% to $1473.20.

Europe: London +0.01%. Paris +0.82%. Frankfurt +0.34%. 

Asia: Japan: Closed. Hong Kong +0.15% to 22580. China: Closed. India +0.52% to 19387.