Morning Coffee Pre-Market Wall Street News

U.S. Govt. Shutdown, Who Cares? Markets worldwide were mostly higher despite the U.S. government’s partial shutdown.  The last partial shutdown was over 17 years ago and lasted almost a month. The closure comes after the House and Senate could not agree upon a budget to fund what many consider a blotted government. Most services will remain open despite the shutdown leading many to say who cares? The IRS, postal service, and military will remain open. Additionally, social security and welfare checks will also go out as scheduled. Government agencies that are considered non-essential, which are very few, will be closed and the employees furloughed. A full list can be found at http://www.cnn.com/interactive/2013/09/politics/government-shutdown-impact/

Upgrades:

AFLAC (AFL): FBR Capitol raised their rating from Market Perform to Outperform and raised their target price from $60.00 to $71.00. Pre-market: 61.99 0.00 (0.00%)

Airgas (ARG): Global Hunter raised their rating from Neutral to Buy and raised their target price from $107.00 to $130.00.

Cree (CREE): Canaccord raised their rating from Hold to Buy. Pre-market: 62.48 +2.29 (3.80%)

Nike (NKE): Argus raised their rating from Hold to Buy and placed a target price of $84.00 on the company. Pre-market: 73.25 +0.61 (0.84%)

T-Mobile (TMUS): Oppenheimer raised their rating from Perform to Outperform. Pre-market: 26.25 +0.28 (1.08%)

Under Armour (UA): JPMorgan raised their rating from Underweight to Buy. Pre-market: 79.45 0.00 (0.00%)

Downgrades:

Agilent Technologies(A): Stifel lowered their rating from Buy to Hold and placed a target price of $52.00 on the company.

EOG Resources (EOG): Societe Generale lowered their rating from Hold to Sell and placed a target price of $160.00 on the company. Pre-market: 168.52 -0.76 (-0.45%)

Hess Corp (HES): Societe Generale lowered their rating from Buy to Hold and placed a target price of $86.00 on the company. Pre-market: 76.83 -0.51 (-0.66%)

JC Penney (JCP): Argus lowered their rating from Buy to Hold. Pre-market: 8.83 +0.02 (0.28%)

Coverage Initiated:

Advisory Board (ABCO): Keybanc initiated coverage with a Buy rating and target price of $72.00.

News Corp (NWSA): Evercore initiated coverage with an Equal Weight rating and target price of $18.00. Pre-market: 16.06 0.00 (0.00%)

Earning Reports:

Diamond Foods (DMND): Reported EPS of $0.09 beating estimates by +$0.12. Pre-market: 21.95 -1.60 (-6.79%)

Paychex (PAYX): Reported EPS of $0.44 beating estimates by +$0.01. Pre-market: 40.64 0.00 (0.00%)

Walgreens (WAG): Reported EPS of $0.73 in-line with estimates. Pre-market: 53.34 -0.46 (-0.86%)

Markets: 
Futures at 8:22: Dow +0.26%. S&P +0.27%. Nasdaq +0.26%. Crude -0.01% to $102.34. Gold -0.79% to $1317.20. U.S. 10 Year -10/32 2.646%.

Europe: London -0.45%. Paris +0.59%. Frankfurt +0.43%. 

Asia: Japan +0.20% to 14485. Hong Kong -1.50% to 22860, China closed. India +0.71% to 19517