Morning Coffee - Pre-Market Wall Street News

Gun Sales Propel Smith & Wesson. Smith & Wesson's (SWHC) reported FQ2 earnings of $0.28 beating estimates by a wide margin.  The company also issued higher-than-expected FQ3 guidance. Revenue for the weapons manufacture rose 2% to $139.3M, while income from continuing operations increased to $17.1M. Sales of handguns at the company continue to climb, up a whopping +27% as people rush to purchase weapons for self protects and amid a fresh push for gun control. Pre-market: 12.76 +0.64 (5.28%)

Upgrades:

3M Co. (MMM): Nomura raised their rating from Neutral to Buy and placed a target price of $150.00 on the company. Pre-market: 128.15 +0.60 (0.47%)

Cardinal Health (CAH): Leerink raised their rating from Market Perform to Outperform and raised their target price from $64.00 to $75.00.

General Dynamics (GD): CRT Capital raised their rating from Sell to Fair Value and placed a target price of $89.00 on the company.

Downgrades:

Scripps Networks (SNI): Citigroup lowered their rating from Neutral to Sell. Pre-market: 81.02 +5.77 (7.67%)

Coverage Initiated:

Cisco Systems (CSCO): Mizuho initiated coverage with a Neutral rating and placed a target price of $23.00 on the company.

Cisco Systems (CSCO): Citigroup initiated coverage with a Sell rating and placed a target price of $18.00 on the company.

Ericsson (ERIC): Mizuho initiated coverage with a Buy rating and placed a target price of $15.00 on the company. Pre-market: 11.88 -0.06 (-0.50%)

Motorola Solutions (MSI): Mizuho initiated coverage with a Neutral rating and placed a target price of $63.00 on the company. Pre-market: 21.05 -0.16 (-0.75%)

Nokia (NOK): Mizuho initiated coverage with a Neutral rating and placed a target price of $8.00 on the company. Pre-market: 7.94 +0.02 (0.25%)

Twitter (TWTR): Macquarie initiated coverage with a Neutral rating. Pre-market: 52.90 +0.91 (1.75%)

Earning Reports:

Costco (COST): Reported EPS of $0.96 missing estimates by -$0.06. Pre-market: 118.50 -1.54 (-1.28%)

H&R Block (HRB): Reported EPS of -0.42 missing estimates by -$0.05. Pre-market: 28.55 -0.25 (-0.87%)

Joy Global (JOY): Reported EPS of $1.11 missing estimates by -$0.01. Pre-market: 53.30 -2.94 (-5.23%)

Smith & Wesson (SWHC): Reported EPS of 0.28 beating estimates by +$0.07. Pre-market: 12.76 +0.64 (5.28%)

Markets: 
Futures at 8:10: Dow +0.08%. S&P -0.28%. Nasdaq +0.01%. Crude -0.15% at $98.38. Gold -0.52% to $1254.60. U.S. 10 Year -3/32 to 2.819%.

Europe: London +0.37%. Paris +0.76%. Frankfurt +0.29%. 

Asia: Japan -0.62% to 15515. Hong Kong -1.71% to 23338. China -1.49% at 2204. India -0.39% at 21171. 

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