Morning Coffee Pre-Market Wall Street News

Retail Sales Unexpectedly Rise. The Commerce Department announced today that retail sales rose +0.1% after a revised -0.5% decline in March. Economist had expected retail sales to fall -0.3%. Retail Sales Ex-Auto fell -0.1%, but also beat economists’ estimates of -0.2%. Core sales which excludes automobiles, gasoline and building materials increased +0.5% after rising +0.1% in March. Core Sales is watched since it corresponds more closely with the consumer spending component of the GDP.

ADVANCE MONTHLY SALES FOR RETAIL AND FOOD SERVICES APRIL 2013

Upgrades

Cisco Systems (CSCO): FBR Capital raised their rating from Underperform to Market Perform and raised their target price form $17.00 to $19.00. Pre-market: 21.07 -0.03 (-0.14%)

Express Scripts (ESRX): Jefferies raised their rating from Hold to Buy and raised their target price from $56.00 to $74.00. Pre-market: 61.50 +0.10 (0.16%)

Johnson Controls (JCI): Lazard Capital raised their rating from Neutral to Buy.

Owens Corning (OC): KeyBanc raised their rating from Hold to Buy and placed a target price of $51.00 on the company. Pre-market: 44.05 +0.43 (0.99%)

T-Moble (TMUS): UBS raised their rating from Neutral to Buy and raised their target price from $18.00 to $24.00.

Downgrades

Aeropostale (ARO): Cowen lowered their rating from Outperform to Neutral.

AutoZone (AZO): Deutsche Bank lowered their rating from Buy to Hold and maintained their target price of $410.00 on the company. Pre-market: 61.50 +0.10 (0.16%)

Carlyle Group (CG): UBS lowered their rating from Buy to Neutral and lowered their target price from $34.00 to $32.00. Pre-market: 29.90 -0.30 (-0.99%)

True Religion (TRLG): B. Riley & Co. lowered their rating from Buy to Neutral and lowered their target price from $38.00 to $32.00.

True Religion (TRLG): The Benchmark Company lowered their rating from Buy to Hold.

Markets: 
Futures at 7:26: Dow -0.29%. S&P -0.24%. Nasdaq -0.35%. Crude -0.41% to $95.64. Gold -0.34% to $1431.60.

Europe: London -0.14%. Paris -0.14%. Frankfurt -0.30%. 

Asia: Japan +1.20% to 14782. Hong Kong -1.42% to 22989. China -0.22% to 2241. India -1.95% to 19691.