Morning Coffee Pre-Market Wall Street News

Nike Beats EPS Estimates. Nike (NKE) shares are 7% higher premarket after the company reported EPS that beat Wall Street estimates. The company reported FQ1 EPS of $0.86 beat estimates of $0.78. Profits at the company jumped 38% to $780M and revenue rose 8% to an expected $6.97B. Nike saw high demand in the U.S. and many international markets for its athletic products, except for China.  Global futures orders, a leading indicator for top line growth, rose 8%. Pre-market: 75.36 +5.02 (7.14%)

Upgrades:

Nike (NKE): Sterne Agee raised their rating from Neutral to Buy. Pre-market: 75.36 +5.02 (7.14%)

Occidental Petroleum (OXY): Susquehanna raised their rating from Neutral to Positive and placed a target price of $114.00 on the company. Pre-market: 93.57 -0.01 (-0.01%)

Downgrades:

Bank of America (BAC): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 13.99 -0.09 (-0.64%)

Goldman Sachs (GS): Guggenheim lowered their rating from Buy to Neutral. Pre-market: 161.50 -0.79 (-0.49%)

International Game Technology (IGT): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $22.00 on the company. After Hours: 20.60 -0.07 (-0.34%)

International Paper (IP): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $54.00 to $51.00. Pre-market: 46.50 -0.79 (-1.67%)

Marathon Oil (MRO): Stifel lowered their rating from Buy to Hold. Pre-market: 35.00 -0.28 (-0.79%)

Coverage Initiated:

Masco Corp (MAS): FBR Capital initiated coverage with a Market Perform rating and target price of $24.00.

Owens Corning (OC): FBR Capital initiated coverage with an Outperform rating and target price of $50.00.

Earning Reports:

Accenture (ACN): Reported EPS of $1.01 missing estimates by -$0.01. After Hours: 72.90 -2.97 (-3.91%)

BlackBerry (BBRY): Reported EPS of -$0.47 in-line with estimates. Pre-market: 8.00 +0.05 (0.63%)

Finish Line (FINL): Reported EPS of $0.54 beating estimates by +$0.08. Pre-market: 25.00 +2.61 (11.66%)

Nike (NKE): Reported EPS of $0.86 beating estimates by +$0.08. Pre-market: 75.36 +5.02 (7.14%)

Thor Industries (THO): Reported EPS of $1.04 beating estimates by +$0.09.

Markets:

Futures at 6:20: Dow -0.31%. S&P -0.43%. Nasdaq -0.34%. Crude -0.57% to $102.49. Gold +0.14% at $1325.90. U.S. 10 Year +6/32 2.630%.

Europe:  London -0.82%. Paris -0.18%. Frankfurt -0.27%. 

Asia: Japan -0.26% to 14760. Hong Kong +0.35% to 23207. China +0.20% to 2160. India -0.84% to 19727.