Analysts rating change: Intel (INTC)

Argus raised their rating from Hold to Buy.

Current Price $22.06 Today's Change -0.23 (-1.01%) 52 Week Range $19.23 - $25.98 Average Volume (10-day) 29.5M EPS (TTM) $1.85 P/E Ratio 11.92x Shares Outstanding 5.0B Market Cap ($) 109.9B Beta 1.0165

Analysts Rating Change: Canadian Imperial Bank of Commerce (CM)

S&P raised their rating from 3 Stars to 4 Stars.

Current Price $78.45 Today's Change +1.64 (2.14%) 52 Week Range $69.92 - $84.38 Average Volume (10-day) 187.1K EPS (TTM) $7.80 P/E Ratio 10.06x Shares Outstanding 400.0M Market Cap ($) 31.4B Beta 1.2068

Morning Coffee Pre-Market Wall Street News

Consumer Spending Misses Estimates. The Commerce Department reported that personal spending for July rose 0.1% missing Wall Street economists’ estimates. Wall Street had expected personal spending to rise 0.3%. June’s numbers where revised higher to 0.6% from 0.5%. Personal income for July rose 0.1% in-line with estimates, but down from the prior months 0.3% reading. Consumer spending accounts for 70% of the economy. Job growth and wage gains are needed as interest rates on mortgages and home prices continue to rise.  If not, this could cause consumers to stop spending and detail to housing recovery.

Upgrades:

Apache Corp (APA): RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $93.00 to $99.00.

Deutsche Bank (DB): JPMorgan raised their rating from Neutral to Overweight.

Intel (INTC): Argus raised their rating from Hold to Buy and placed a target price of $28.00 on the company.

Downgrades:

Joy Global (JOY): BB&T lowered their rating from Buy to Hold.

OmniVision (OVTI): Northland Securities lowered their rating from Outperform to Market Perform.

OmniVision (OVTI): Craig-Hallum lowered their rating from Buy to Hold and lowered their target price from $24.00 to $18.00.

OmniVision (OVTI): Oppenheimer lowered their rating from Outperform to Perform.

Staples (SPLS): JPMorgan lowered their rating from Overweight to Neutral and lowered their target price from $17.00 to $15.00.

Vodafone (VOD): RW Baird lowered their rating from Outperform to Neutral. Pre-market: 32.03 +0.23 (0.72%)

Coverage Initiated:

Baidu (BIDU): JPMorgan initiated coverage with an Overweight rating and raised their target price from $115.00 to $165.00.

Earning Reports:

bebe Stores (BEBE): Reported EPS of -$0.14 missing estimates by -$0.01.

Big Lots (BIG): Reported EPS of $0.31 beating estimates by +$0.07. Pre-market: 35.35 +0.71 (2.05%)

Krispy Kreme (KKD): d EPS of -$0.14 missing estimates by -$0.02. Pre-market: 20.82 -2.41 (-10.37%)

OmniVision (OVTI): Reported EPS of $0.55 beating estimates by +$0.12. Pre-market: 16.17 -2.24 (-12.17%)

Pacific Sunwear (PSUN): Reported EPS of $0.02 beating estimates by +$0.02. Pre-market: 3.69 -0.23 (-5.87%)

Salesforce.com (CRM): Reported EPS of $0.09 beating estimates by +$0.02. Pre-market: 47.50 +3.85 (8.82%)

Yingli Green Energy (YGE): Reported EPS of -$0.33 in-line with estimates. Pre-market: 4.36 +0.16 (3.81%)

Markets: 
Futures at 8:07: Dow +0.11%. S&P +0.18%. Nasdaq +0.26%. Crude -0.87% to $107.83. Gold -1.12% to $1396.90. U.S. 10 Year -1/32 2.766%

Europe: London -0.45%. Paris -0.76%. Frankfurt -0.71%. 

Asia: Japan -0.53% to 13389. Hong Kong +0.12% to 21731. China +0.05% to 2098. India +1.19% to 18612. 

Morning Coffee Pre-Market Wall Street News

Bank of America Pays for Racial Discrimination Against Black Employees. Bank of America (BAC) will pay $160 million after it was sued by black employees. The lawsuit was brought by hundreds of black financial advisers, who accused the bank of not giving them the same opportunities as white advisors in the areas of account distributions and investment teams. Pre-market: 14.09 -0.02 (-0.14%)

Upgrades:

USG Corp (USG): Longbow raised their rating from Neutral to Buy and placed a target price of $28.00 on the company. Pre-market: 23.33 +0.27 (1.17%)

Downgrades:

Taser International (TASR): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $12.00 on the company.

Tiffany & Co (TIF): CLSA lowered their rating from Outperform to Underperform. Pre-market: 79.50 -1.32 (-1.63%)

Coverage Initiated:

Applied Materials (AMAT): Northland Securities initiated coverage with an Outperform rating and target price of $19.00. Pre-market: 15.04 -0.03 (-0.19%)

Arch Coal (ACI): FBR Capital initiated coverage with an Outperform rating and target price of $6.00. Pre-market: 4.65 +0.03 (0.65%)

Laboratory Corp (LH): Craig-Hallum initiated coverage with a Buy rating and target price of $116.00.

Lam Research (LRCX): Northland Securities initiated coverage with an Outperform rating and target price of $59.00.

Earning Reports:

Chico’s FAS (CHS): Reported EPS of $0.27 missing estimates by -$0.05. Pre-market: 15.67 +0.34 (2.22%)

Express (EXPR): Reported EPS of $0.20 in-line with estimates. Pre-market: 21.75 +1.95 (9.85%)

Joy Global (JOY): Reported EPS of $1.70 beating estimates by +$0.34. Pre-market: 48.80 -2.51 (-4.89%)

Zale (ZLC): Reported EPS of- $0.25 beating estimates by +$0.58. Pre-market: 10.49 +1.53 (17.08%)

Markets: 
Futures at 8:45: Dow +0.09%. S&P +0.04%. Nasdaq +0.09%. Crude +1.28% to $110.38. Gold +0.44% to $1426.40. U.S. 10 Year -15/32 2.767%.

Europe: London -0.60%. Paris -0.49%. Frankfurt -1.54%. 

Asia: Japan -1.51% to 13338. Hong Kong -1.60% to 21525. China -0.11% to 2101. India +0.16% to 17996. 

Morning Coffee Pre-Market Wall Street News

Syria Causes World Markets to Fall. U.S. stock futures, Asia and European markets are all lower on worries that the U.S. will take military action against Syria. This comes after Sec. of State John Kerry said yesterday that Syria did use chemical weapons against its own civilian population. The U.S. military has moved both equipment and personnel into the area and now has four destroyer ships in the Mediterranean along with several nuclear-powered submarines, all within cruise-missile range. The thought of a U.S. military response has also sent the Turkish lira to a record low of 2.0299 to the dollar and oil up+2.36% to $108.38 a barrel.

Upgrades:

Gulfport Energy (GPOR): Capital One raised their rating from Add to Strong Buy and raised their target price from $79.00 to $85.00. Pre-market: 57.72 +0.12 (0.21%)

Monsanto (MON): UBS raised their rating from Neutral to Buy and maintained their target price of $110.00. Pre-market: 98.02 +0.37 (0.38%)

Downgrades:

Apache Corp (APA): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 78.50 -1.23 (-1.54%)

Coverage Initiated:

Athlon Energy (ATHL): Goldman Sachs initiated coverage with a Neutral rating and placed a target price of $33.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): Wells Fargo initiated coverage with an Outperform rating and placed a target range of $33.00-$36.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): UBS initiated coverage with a Neutral rating and placed a target price of $31.00 on the company. Pre-market: 30.00 0.00 (0.00%)

Athlon Energy (ATHL): RBC Capital initiated coverage with an Outperform rating and placed a target price of $37.00 on the company. Pre-market: 30.00 0.00 (0.00%)

DirecTV (DTV): Raymond James initiated coverage with an Outperform rating and placed a target price of $69.00 on the company. Pre-market: 57.34 -0.15 (-0.26%)

DISH Network (DISH): Raymond James initiated coverage with an Underperform rating.

IntercontinentalExchange (ICE): Wells Fargo initiated coverage with an Outperform.

Earning Reports:

Bank of Montreal (BMO): Reported EPS of $1.68 beating estimates by +$0.14.

Brown Shoe (BWS): Reported EPS of $0.33 beating estimates by +$0.11. Pre-market: 24.75 +1.05 (4.43%)

Movado Group (MOV): Reported EPS of $0.44 beating estimates by +$0.12. Pre-market: 39.97 +1.97 (5.18%)

Regis (RGS): Reported EPS of $0.06 missing estimates by -$0.06.

Tiffany & Co (TIF): Reported EPS of $0.83 beating estimates by +$0.11. Pre-market: 82.25 +0.58 (0.71%)

Markets: 
Futures at 8:01: Dow -0.56%. S&P -0.75%. Nasdaq -0.77%. Crude +2.36% to $108.38. Gold +1.76% to $1417.70. U.S. 10 Year +9/32 2.759%

Europe: London -0.75%. Paris -1.83%. Frankfurt -1.89%. 

Asia: Japan -0.69% to 13542. Hong Kong -0.59% to 21875. China +0.34% to 2104. India -3.18% to 17968. 

Morning Coffee Pre-Market Wall Street News

U.S. Durable Goods Miss Estimates. The Commerce Department reported that durable goods orders fell 7.3% marking the largest decline since last August. Durable goods are manufactured products designed to last three years or more. Wall Street economist had estimated that durable goods would fall only 4% in July. Non-defense capital goods orders excluding aircraft fell 3.3%, ending four months of gains. It was the biggest fall since February. Economists had expected capital goods orders to increase 0.5%. The decline in orders for both durable and capital goods suggests manufacturing is slowing and that the economy may not grow in Q3 as much as some expected.  

Upgrades:

Adobe Systems (ADBE): Pacific Crest raised their rating from Sector Perform to Outperform and placed a target price of $60.00 on the company.

Aeropostale (AEO): Brean Capital raised their rating from Sell to Hold.

Altera (ALTR): Citigroup raised their rating from Neutral to Buy and raised their target price from $39.00 to $41.00.

Amgen (AMGN): Piper Jaffray raised their rating from Neutral to Overweight and raised their target price from $120.00 to $140.00.

Big Lots (BIG): JPMorgan raised their rating from Underweight to Neutral and placed a target price of $32.25 on the company. Pre-market: 33.00 +0.75 (2.33%)

Dollar Tree (DLTR): Deutsche Bank raised their rating from Hold to Buy and placed a target price of $60.00 on the company. Pre-market: 53.97 +0.68 (1.28%)

Hasbro (HAS): Citigroup raised their rating from Sell to Buy and raised their target price from $40.00 to $53.00.

Downgrades:

Family Dollar Store (FDO): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $74.00 on the company. Pre-market: 71.88 -0.40 (-0.55%)

Tyson Foods (TSN): BofA Merrill Lynch lowered their rating from Buy to Neutral and placed a target price of $32.00 on the company. Pre-market: 30.76 -0.72 (-2.29%)

Markets: 
Futures at 8:31: Dow -0.14%. S&P -0.07%. Nasdaq +0.06%. Crude -0.15% at $106.24. Gold +0.06% to $1396.70. U.S. 10 Year +4/32 2.799%.

Europe: London closed. Paris -0.32%. Frankfurt -0.01%. 

Asia: Japan -0.18% to 13636. Hong Kong +0.65% to 22005. China +1.90% to 2096. India +0.21% to 18558. 

Morning Coffee Pre-Market Wall Street News

Moody’s Warns of Possible Bank Downgrades. The rating agency Moody's (MCO) said that it has put several major U.S. Banks on review for possible downgrades. Banks that could receive credit downgrades include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS) and Wells Fargo (WFC).

Upgrades:

First Solar (FSLR): Raymond James raised their rating from Underperform to Market Perform.

Toronto-Domino Bank (TD): Scotia Capital raised their rating from Sector Perform to Outperform.

Trina Solar (TSL): Raymond James raised their rating from Underperform to Market Perform.

VMware (VMW): Jefferies raised their rating from Hold to Buy and raised their target price from $86.00 to $105.00.

Downgrades:

Abercrombie & Fitch (ANF): RW Baird lowered their rating from Outperform to Neutral and lowered their target price from $59.00 to $42.00.

Aeropostale (AEO): Topeka lowered their rating from Buy to Hold.

Dick’s Sporting Goods (DKS): Oppenheimer lowered their rating from Outperform to Perform and lowered their target price from $56.00 to $44.00.

Guess? Inc (GES): Piper Jaffray lowered their rating from Overweight to Neutral and lowered their target price from $35.00 to $31.00.

Pandora Media (P): Stifel lowered their rating from Buy to Hold.

Pandora Media (P): Raymond James lowered their rating from Outperform to Market Perform.

Staples (SPLS): Credit Suisse lowered their rating from Outperform to Neutral and lowered their target price to $15.00 on the company.

Coverage Initiated:

Ball Corp (BLL): Northcoast initiated coverage with a Neutral rating.

Chipotle Mexican Grill (CMG): Northcoast initiated coverage with a Sell rating and target price of $400.00.

Dean Foods (DF): Northcoast initiated coverage with a Neutral rating.

Dunkin Brands Group (DNKN): Northcoast initiated coverage with a Neutral rating.

Panera Bread Co (PNRA): Northcoast initiated coverage with a Buy rating and target price of $205.00.

Tim Hortons (THI): Northcoast initiated coverage with a Buy rating and target price of $72.00.

Earning Reports:

Aeropostale (AEO): Reported EPS of -$0.34 missing estimates by -$0.09.

Autodesk (ADSK): Reported EPS of $0.45 beating estimates by +$0.03.

Foot Locker (FL): Reported EPS of $0.46 missing estimates by -$0.01.

Gap (GPS): Reported EPS of $0.64 in-line with estimates.

Pandora Media (P): Reported EPS of $0.04 beating estimates by +$0.02.

Ross Stores (ROST): Reported EPS of $0.98 beating estimates by +$0.05.

Markets: 
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq 0.0%. Crude +0.2% to $105.22. Gold +0.3% to $1374.90.

Europe: London +0.2%. Paris -0.5%. Frankfurt 0.0%. 

Asia: Japan +2.2% to 13661. Hong Kong -0.1% to 21864. China -0.5% to 2057. India +1.1% to 18519.