Morning Coffee Pre-Market Wall Street News

Government Wants Bank of America to Pay $6 Billion. Reports say that the Federal Housing Finance Agency reportedly wants Bank of America (BAC) to pay a minimum of at least $6B in fines to settle accusations that it sold faulty mortgage bonds to Fannie Mae (FNMA) and Freddie Mac (FMCC). The fin if agreed to would be much larger then JPMorgan’s (JPM) agreement to pay $4B and UBS’s fine of $885M. (BAC) Pre-market: 14.54 -0.09 (-0.62%)

Upgrades:

Abbott (ABT): ResearchTeam raised their rating from Reduce to Hold.

Apple ( AAPL): Societe Generale raised their rating from Hold to Buy and raised their target price from $500.00 to $575.00.

Archer Daniels Midland (ADM): BofA Merrill Lynch raised their rating from Underperform to Buy and raised their target price from $36.00 to $44.00. Pre-market: 38.27 +0.25 (0.66%)

Celgene (CELG): ResearchTeam raised their rating from Hold to Accumulate.

CVS Caremark (CVS): ResearchTeam raised their rating from Reduce to Accumulate.

Barrick Gold (ABX): HSBC raised their rating from Neutral to Overweight and placed a target price of $21.00 on the company.

Ensco PLC (ESV): ResearchTeam raised their rating from Reduce to Hold.

Expeditors Intl (EXPD): ResearchTeam raised their rating from Hold to Accumulate.

Intel (INTC): ResearchTeam raised their rating from Hold to Accumulate.

Ryder Systems (R): ResearchTeam raised their rating from Reduce to Hold.

Sonoco (SON): ResearchTeam raised their rating from Reduce to Hold.

Downgrades:

Abercrombie & Fitch (ANF): Macquarie lowered their rating from Outperform to Neutral and placed a target price of $36.00 on the company.

Apache (APA): ISI Group lowered their rating from Buy to Neutral and lowered their target price from $112.00 to $111.00.

Chipotle Mexican Grill (CMG): Miller Tabak lowered their rating from Buy to Hold and maintained their target price of $490.00.

General Mills (GIS): BofA Merrill Lynch lowered their rating from Buy to Neutral and lowered their target price from $54.00 to $51.00. Pre-market: 48.70 -0.49 (-1.00%)

Goodyear Tire (GT): Deutsche Bank lowered their rating from Buy to Hold and lowered their target price from $29.00 to $26.00.

Kaiser Aluminum (KALU): Sterne Agee lowered their rating from Buy to Neutral.

Kaiser Aluminum (KALU): KeyBanc lowered their rating from Buy to Hold.

Kellogg (K): BofA Merrill Lynch lowered their rating from Buy to Underperform and lowered their target price from $69.00 to $62.00. Pre-market:60.37 -1.05 (-1.71%)

Marathon Oil (MRO): ISI Group lowered their rating from Buy to Neutral and maintained their target price of $42.00.

Tesco (TESO): Capital One lowered their rating from Add to Neutral and placed a target price of $18.00 on the company.

Earning Reports:

Check Point Software (CHKP): Reported EPS of $0.85 beating estimates by +$0.01. Pre-market: 60.00 +1.59 (2.72%)

Halliburton (HAL): Reported EPS of $0.83 beating estimates by +$0.01. Pre-market: 51.01 -1.46 (-2.78%)

Hasbro (HAS): Reported EPS of $1.31 beating estimates by +$0.02. Pre-market: 48.49 +1.25 (2.65%)

McDonald’s (MCD): Reported EPS of $1.52 beating estimates by +$0.01. Pre-market: 93.50 -1.70 (-1.79%)

Philips Electronics (PHG): Reported EPS of $0.31 missing estimates by -$0.02. Pre-market: 35.43 +1.88 (5.60%)

SAP AG (SAP): Reported EPS of $0.78 missing estimates by -$0.01. Pre-market: 77.26 +3.51 (4.76%)

V.F. Corp (VFC): Reported EPS of $3.91 beating estimates by +$0.13. Pre-market: 211.25 +6.95 (3.40%)

Markets: 
Futures at 7:14: Dow +0.02%. S&P +0.12%. Nasdaq +0.28%. Crude -1.20% to $99.60. Gold +0.05% to $1315.20. U.S. 10 Year -4/32 2.597%.

Europe: London +0.85%. Paris -0.28%. Frankfurt -0.06%. 

Asia: Japan +0.91% to 14694. Hong Kong +0.42% to 23438. China +1.62% to 2229. India +0.05% to 20894. 

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