Morning Coffee Pre-Market Wall Street News

OPEC Expects 2013 Oil Demand will rise. OPEC announced that they still expect overall oil demand to inch higher in 2013.  This was despite the weaker than expected demand in the first quarter.  The weaker demand was due to concerns about the slower growth in China and ongoing economic concerns in the EU. The demand forecast remained unchanged with total average oil demand of 89.7 million barrels per day, up 0.8 mbpd from 2012. Crude -2.07% to $94.41.

Upgrades

Advisory Board (ABCO): Northern raised their rating from Market Perform to Outperform.

American Water Works (AWR): Citigroup raised their rating from Neutral to Buy and raised their target price from $42.00 to $48.00.

Becton Dickinson (BDX): Macquarie raised their rating from Neutral to Outperform and raised their target price from $98.00 to $110.00. Pre-market: 98.50 +0.75 (0.77%)

Boston Scientific (BSX): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $7.00 - $8.00 to $9.00 - $10.00. Pre-market: 8.50 +0.20 (2.41%)

Edison International (EIX): Citigroup raised their rating from Neutral to Buy and raised their target price from $49.00 to $61.00.

Downgrades

Dean Foods (DF): Stephens lowered their rating from Overweight to Equal Weight and placed a target price of $20.00 on the company.

JC Penney (JCP): Northcoast lowered their rating from Neutral to Sell. Pre-market: 17.32 -0.04 (-0.23%)

McDermott (MDR): Howard Weil lowered their rating from Sector Outperform to Sector Perform. Pre-market: 9.60 +0.01 (0.10%)

McDermott (MDR): Capital One lowered their rating from Add to Neutral and placed a target price of $12.00 on the company. Pre-market: 9.60 +0.01 (0.10%)

McDermott (MDR): Stephens lowered their rating from Overweight to Equal Weight and placed a target price of $10.00 on the company. Pre-market: 9.60 +0.01 (0.10%)

McDermott (MDR): Johnson Rice lowered their rating from Focus List to Equal Weight. Pre-market: 9.60 +0.01 (0.10%)

Micron Tech (MU): JMP Securities lowered their rating from Outperform to Market Perform. Pre-market: 10.60 -0.11 (-1.04%)

Coverage Initiated

J2 Global (JCOM): Wedbush initiated coverage with an Outperform rating and target price of $49.00.

Earning Reports

Allscripts-Misys Healthcare (MDRX): Reported EPS of $0.09 missing estimates by -$0.05. Pre-market: 13.00 -0.85 (-6.14%)

American Water Works (AWR): Reported EPS of $0.69 beating estimates by +$0.18.

bebe stores (BEBE): Reported EPS of -$0.14 beating estimates by +$0.01.

Magna (MGA): Reported EPS of $1.57 beating estimates by +$0.13. Pre-market: 64.00 +1.29 (2.06%)

MBIA (MBI): Reported EPS of $0.84 beating estimates by +$0.61. Pre-market: 16.00 +0.33 (2.11%)

Molycorp (MCP): Reported EPS of -$0.15 beating estimates by +$0.14. Pre-market: 6.15 +0.56 

(10.02%)

NVIDIA (NVDA): Reported EPS of $0.13 beating estimates by +$0.03. Pre-market: 14.39 +0.48 (3.45%)

Priceline.com (PCLN): Reported EPS of $5.76 beating estimates by +$0.67. Pre-market: 736.05 -1.45 (-0.20%)

Markets: 
Futures at 8:22: Dow +0.13%. S&P +0.04%. Nasdaq +0.08%. Crude -2.07% to $94.41. Gold -2.59% to $1430.80.

Europe: London +0.22%. Paris +0.32%. Frankfurt +0.28%. 

Asia: Japan +2.93% to 14607. Hong Kong +0.47% to 23321. China +0.62% to 2246. India +0.72% to 20082.