Morning Coffee Pre-Market Wall Street News

S&P 500 Forecasts raised by Goldman. Goldman Sachs announced that they have raised their forecast S&P 500.  The firm now expects the index to rise 5% by year-end to 1,750. Analysts expectations for 2014 is now an increase of 9% to 1,900 and for 2015 a return of 10% to 2,100. The reason for the increase is expectations of an improving GDP with P/E’s increasing to 16x. Additionally, the firm said dividends should rise 30% over the next two years. Pre-market: 167.03 +0.06 (0.04%)

Upgrades

Blackrock (BLK): Macquarie raised their rating from Neutral to Outperform and raised their target price from $253.00 to $315.00.

Con-way (CNW): Wunderlich raised their rating from Hold to Buy and raised their target price from $37.00 to $45.00.

Downgrades

Breazer Homes (BZH): Sterne Agee lowered their rating from Buy to Neutral. Pre-market: 22.50 -0.23 (-1.01%)

Carnival Corp (CCL): Wells Fargo lowered their rating from Outperform to Market Perform and lowered their target price range from $39.00 - $41.00 to $34.00 - $36.00. Pre-market: 32.55 -2.77 (-7.84%)

Carnival Corp (CCL): William Blair lowered their rating from Outperform to Market Perform. Pre-market: 32.55 -2.77 (-7.84%)

Carnival Corp (CCL): UBS lowered their rating from Buy to Neutral and lowered their target price from $38.00 to $36.00. Pre-market: 32.55 -2.77 (-7.84%)

Coverage Initiated

Aetna (AET): Goldman Sachs initiated coverage with a Buy rating and target price of $68.00.

Sony Corp (SNE): Jefferies initiated coverage with a Buy rating.

Earning Reports

AutoZone (AZO): Reported EPS of $0.32 beating estimates by +$0.06.

Best Buy (BBY): Reported EPS of $0.32 beating estimates by +$0.06. Pre-market: 26.53 -0.28 (-1.04%)

Dick’s Sporting Goods (DKS): Reported EPS of $0.48 in-line with estimates. Pre-market: 52.00 -0.21 (-0.40%)

Home Depot (HD): Reported EPS of $0.83 beating estimates by +$0.07. Pre-market: 79.50 +2.74 (3.57%)

Medtronic (MDT): Reported EPS of $1.10 beating estimates by +$0.08. Pre-market: 52.00 +2.11 (4.23%)

Urban Outfitters (URBN): Reported EPS of $7.27 beating estimates by +$0.03. Pre-market: 43.35 -1.14 (-2.56%)

Markets: 
Futures at 7:00: Dow +0.02%. S&P -0.09%. Nasdaq -0.05%. Crude -0.27% to $96.45. Gold -0.32% to $1380.00.

Europe: London +0.17%. Paris -0.36%. Frankfurt -0.32%. 

Asia: Japan +0.13% to 15381. Hong Kong -0.54% to 23366. China +0.22% to 2305. India -0.56% to 20111.