Morning Coffee Pre-Market Wall Street News

Qualcomm Announces Smartwatch. Qualcomm (QCOM) announced the launch of its own smartwatch at the company's annual Uplinq developer conference. The Toq smartwatch use of the company's low-power Mirasol display, features WiPower LE wireless charging, text-message viewing, Bluetooth connectivity, and 3rd-party app support. Other companies that have wearable devices include Samsung’s Galaxy Gear and Google Glass.

Upgrades:

InterContinental Hotel Group (IHG): UBS raised their rating from Neutral to Buy and placed a target price of $32.24 on the company.

Louisiana Pacific (LPX): DA Davidson raised their rating from Neutral to Buy.

Louisiana Pacific (LPX): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $20.00 to $21.00.

Sherwin Williams (SHW): Longbow raised their rating from Neutral to Buy and placed a target price of $215.00 on the company.

Transocean (RIG): Credit Suisse raised their rating from Neutral to Outperform and placed a target price of $60.00 on the company.

Downgrades:

Lockheed Martin (LMT): RBC Capital lowered their rating from Outperform to Sector Perform and placed a target price of $126.00 on the company.

Viacom (VIAB): B. Riley lowered their rating from Buy to Neutral and placed a target price of $85.00 on the company.

Earning Reports:

Jos A. Bank (JOSB): Reported EPS of $0.51 missing estimates by -$0.01.

Markets: 
Futures at 6:20: Dow -0.15%. S&P -0.14%. Nasdaq -0.04%. Crude +0.69% to $107.81. Gold +0.24% to $1393.40. -11/32 2.944%.

Europe: London -0.04%. Paris -0.05%. Frankfurt -0.16%. 

Asia: Japan +0.08% to 14064. Hong Kong +1.22% to 22597. China -0.24% to 2122. India +2.22% to 18969.