Morning Coffee Pre-Market Wall Street News

Pfizer Misses Earnings Estimates. Drug manufacturer Pfizer (PFE) reported Q1 earnings of $0.54 per share on revenue of $13.5B. Wall Street analysts had expected the company to report EPS of $0.55 on revenue of $14.1B. Ian Read, Chairman and CEO said “We are clearly seeing the benefits of the investments we’ve been making in our innovative core, as evidenced by recent key product launches, including Eliquis, Xeljanz and various oncology products.” Pre-market: 29.36 -1.07 (-3.52%)

Upgrades

Best Buy (BBY): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $17.00 to $28.00.

Chart Industries (GTLS): Morgan Stanley raised their rating from Equal Weight to Overweight and placed a target price of $110.00 on the company.

Deutsche Bank (DB): Santander raised their rating from Underweight to Hold. Pre-market: 45.63 +1.78 (4.06%)

Deutsche Bank (DB): RBC Capital raised their rating from Sector Perform to Outperform. Pre-market: 45.63 +1.78 (4.06%)

Deutsche Bank (DB): Normura raised their rating from Reduce to Neutral. Pre-market: 45.63 +1.78 (4.06%)

Deutsche Bank (DB): JPMorgan raised their rating from Neutral to Overweight. Pre-market: 45.63 +1.78 (4.06%)

Deutsche Bank (DB): Credit Suisse raised their rating from Underperform to Neutral. Pre-market: 45.63 +1.78 (4.06%)

Occidental Petroleum (OXY): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $90.00 to $112.00. Pre-market: 88.40 +0.54 (0.61%)

Downgrades

Buffalo Wild Wings (BWLD): Sterne Agee lowered their rating from Buy to Neutral. Pre-market: 92.00 -2.33 (-2.47%)

Buffalo Wild Wings (BWLD): KeyBanc lowered their rating from Buy to Hold. Pre-market: 92.00 -2.33 (-2.47%)

Plum Creek (PCL): DA Davidson lowered their rating from Neutral to Underperform and maintained their target price of $47.00. Pre-market: 53.19 -0.11 (-0.21%)

Coverage Initiated

Akamai (AKAM): MKM Partners initiated coverage with a Buy rating and target price of $60.00. After Hours: 42.95 -0.08 (-0.19%)

Pandora Media (P): RBC Capital initiated coverage with a Sector Perform rating and target price of $16.00. Pre-market: 13.90 +0.08 (0.58%)

Earning Reports

Aetna (AET): Reported EPS of $1.50 beating estimates by +$0.12.

BP (BP): Reported EPS of $1.32 beating estimates by +$0.22. Pre-market: 43.92 +1.29 (3.03%)

Buffalo Wild Wings (BWLD): Reported EPS of $0.87 missing estimates by -$0.16. Pre-market: 92.00 -2.33 (-2.47%)

Domino's Pizza (DPZ): Reported EPS of $0.59 beating estimates by +$0.04. Pre-market: 53.95 +1.00 (1.89%)

Express Scripts (ESRX): Reported EPS of $0.99 beating estimates by +$0.02. Pre-market: 59.90 +1.46 (2.50%)

Herbalife (HLF): Reported EPS of $1.27 beating estimates by +$0.21. Pre-market: 39.40 +0.65 (1.68%)

Invesco (IVZ): Reported EPS of $0.52 beating estimates by +$0.05.

Office Depot (ODP): Reported EPS of $0.00 missing estimates by -$0.05. Pre-market: 3.75 +0.05 (1.35%)

Pfizer (PFE): Reported EPS of $0.54 missing estimates by -$0.01. Pre-market: 29.36 -1.07 (-3.52%)

Plum Creek (PCL): Reported EPS of $0.35 beating estimates by +$0.03. Pre-market: 53.19 -0.11 (-0.21%)

Starwood Hotels (HOT): Reported EPS of $0.76 beating estimates by +$0.23. Pre-market: 63.80 +1.34 (2.15%)

United States Steel (X): Reported EPS of -$0.35 missing estimates by -$0.15. Pre-market: 17.25 -0.29 (-1.65%)

Vishay (VSH): Reported EPS of $0.18 beating estimates by +$0.07. Pre-market: 13.25 +0.46 (3.60%)

Markets: 
Futures at 7:06: Dow -0.01%. S&P -0.11%. Nasdaq -0.01%. Crude -0.15% to $94.35. Gold +0.34% to $1472.30.

Europe: London -0.14%. Paris -0.10%. Frankfurt +0.58%. 

Asia: Japan -0.17% to 13860. Hong Kong +0.69% to 22737. China: Closed. India +0.60% to 19504.