Morning Coffee Pre-Market Wall Street News

U.S. Adds 165,000 Jobs. In April the U.S. economy added 165,000 new jobs, above the 155,000 that Wall Street economists had expected. The unemployment rate also fell to 7.5% from 7.6%. The new unemployment rate is still high, but the new rate is a positive sign.  21.9 million Americans are unemployed or underemployed with 835k not actively looking for work.

Upgrades

General Motors (GM): Craig-Hallum raised their rating from Hold to Buy and placed a target price of $38.00 on the company. Pre-market: 31.70 +0.54 (1.73%)

Gilead Sciences (GILD): S&P raised their rating from 4 stars to 5 stars. Pre-market: 53.25 +1.07 (2.05%)

SunPower (SPWR): RW Baird raised their rating from Neural to Outperform and raised their target price to $16.00. Pre-market: 15.10 -0.19 (-1.24%)

Downgrades

Bed Bath & Beyond (BBBY): Oppenheimer lowered their rating from Outperform to Perform and maintained a target price of $71.00. Pre-market: 69.43 -0.29 (-0.42%)

PetSmart (PETM): Oppenheimer lowered their rating from Outperform to Perform and maintained a target price of $70.00.

Sysco (SYY): Cantor Fitzgerald lowered their rating from Hold to Sell and placed a target price of $18.00 on the company.

Tractor Supply (TSCO): Oppenheimer lowered their rating from Outperform to Perform and raised their target price from $100.00 to $125.00.

Yelp! (YELP): First Analysis lowered their rating from Overweight to Equal Weight. Pre-market: 32.00 -0.22 (-0.68%)

Coverage Initiated

Fossil (FOSL): Topeka initiated coverage with a Buy rating and target price of $112.00. Pre-market: 98.05 +1.55 (1.61%)

Coverage Reiterated/Price Target Changed 

Gilead Sciences (GILD): Oppenheimer reiterated their Outperform rating and raised their target price from $59.00 to $61.00. Pre-market: 53.25 +1.07 (2.05%)

Clorox (CLX): B. Riley & Co. reiterated their Neutral rating and raised their target price from $75.00 to $81.00. Pre-market: 85.60 -0.24 (-0.28%)

Earning Reports

American Axle (AXL): Reported EPS of $0.10 missing estimates by -$0.06. Pre-market: 13.90 +0.16 (1.16%)

ADP (ADP): Reported EPS of $0.99 beating estimates by +$0.01. Pre-market: 68.74 +1.35 (2.00%)

American International Group (AIG): Reported EPS of $1.34 beating estimates by +0.46. Pre-market: 42.96 +0.83 (1.97%)

Blue Nile (NILE): Reported EPS of $0.07 beating estimates by +$0.01. Pre-market: 32.00 -0.73 (-2.23%)

Con Edison (ED): Reported EPS of $1.08 beating estimates by +$0.04.

Dole Food (DOLE): Reported EPS of $0.12 missing estimates by -$0.04. After Hours: 10.50 -0.21 (-1.96%)

Flour (FLR): Reported EPS of $1.02 beating estimates by +$0.06.

Gilead Sciences (GILD): Reported EPS of $0.48 missing estimates by -$0.02. Pre-market: 53.25 +1.07 (2.05%)

Kraft Foods (KRFT): Reported EPS of $0.76 beating estimates by +$0.12. After Hours: 51.53 +1.00 (1.98%)

Moody’s (MCO): Reported EPS of $0.97 beating estimates by +$0.12. Pre-market: 60.61 +0.06 (0.10%)

Newell Rubbermaid (NWL): Reported EPS of $0.35 beating estimates by +$0.03. Pre-market: 26.43 +0.04 (0.15%)

SunPower (SPWR): Reported EPS of $0.22 beating estimates by +$0.12. Pre-market: 15.00 -0.29 (-1.90%)

Markets: 
Futures at 7:15: Dow -0.03%. S&P -0.07%. Nasdaq +0.05%. Crude +0.43% to $94.39. Gold +0.80% to $1479.30.

Europe: London +0.24%. Paris +0.02%. Frankfurt +0.18%. 

Asia: Japan Closed. Hong Kong +0.10% to 22690. China +1.44% to 2206. India -0.81% to 19576.