Xbox One Enjoys Strong Sales.

Xbox One Enjoys Strong Sales. The release of Microsoft’s highly anticipated Xbox One on Friday enjoyed strong sales. Microsoft sold over 1 million Xbox One gaming systems within the first 24 hours. A week ago Sony (SNE) released their new PS4 gaming system to similar fanfare. Analysts estimate that each company will sell over 3 million units by the end of the year. MSFT Pre-market: 37.75 +0.18 (0.48%) SNE Pre-market: 18.46 +0.16 (0.87%)

Upgrades:

Alcoa (AA): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from$8.00 to $11.00. Pre-market: 9.57 +0.33 (3.57%)

Finish Line (FINL): Sterne Agee raised their rating from Underperform to Neutral.

Finish Line (FINL): Susquehanna raised their rating from Neutral to Positive and raised their target price from $22.00 to $31.00.

Stryker Corp (SYK): Bernstein raised their rating from Market Perform to Outperform and raised their target price from $75.00 to $84.00. Pre-market: 75.49 +1.21 (1.63%)

Downgrades:

AOL (AOL): RBC Capital lowered their rating from Outperform to Sector Perform and maintained a target price of $46.00.

Campbell Soup (CPB): Goldman Sachs lowered their rating from Buy to Neutral and placed a target price of $42.00 on the company.

Clorox (CLX): Goldman Sachs lowered their rating from Neutral to Sell and placed a target price of $87.00 on the company.

Deere & Co. (DE): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $95.00 to $84.00.

Sprint (S): Pacific Crest lowered their rating from Outperform to Sector Perform. Pre-market: 7.74 -0.09 (-1.15%)

Time Warner Cable (TWC): Argus lowered their rating from Buy to Hold. Pre-market: 133.88 +0.96 (0.72%)

Coverage Initiated:

Burger King Worldwide (BKW): Goldman Sachs initiated coverage with a Buy rating and target price of $25.00. Pre-market: 20.95 +0.57 (2.80%)

Church & Dwight (CHD): Goldman Sachs initiated coverage with a Buy rating and target price of $73.00.

Praxair (PX): UBS initiated coverage with a Neutral rating and target price of $125.00.

Twitter (TWTR): Wells Fargo initiated coverage with a Market Perform rating and target range of $36.00-$39.00. Pre-market: 41.00 0.00 (0.00%)

Markets: 
Futures at 8:32: Dow +0.41%. S&P +0.33%. Nasdaq +0.37%. Crude -1.29% to $93.61. Gold -1.21% to $1229.20. U.S. 10 Year -6/32 2.767%.

Europe: London +0.33%. Paris +0.59%. Frankfurt +0.94%. 

Asia, Japan +1.54% to 15619. Hong Kong -0.05% to 23684. China -0.47% to 2186. India +1.92% to 20605. 

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Morning Coffee Pre-Market Wall Street News

Celgene’s Arthritis Drug Gets Positive Results. After a year log study Celgene's (CELG) new drug Apremilast saw lasting reductions in the signs and symptoms of psoriatic arthritis. The FDA should make a decision in March on the sale of the drug.  Wall Street estimates for the sales of Apremilast range from $475M-1.5B over the next few years. Pre-market: 156.32 +0.58 (0.37%)

Upgrades:

Bristol Myers Squibb (BMY): Morgan Stanley raised their rating from Equal Weight to Overweight and raised their target price from $45.00 to $60.00. Pre-market: 50.15 +1.38 (2.83%)

T. Rowe Price (TROW): UBS raised their rating from Neutral to Buy and raised their target price from $77.00 to $90.00. Pre-market: 76.43 +0.68 (0.90%)

Downgrades:

Baidu (BIDU): BNP Paribas lowered their rating from Buy to Hold and lowered their target price from $168.00 to $145.00. Pre-market: 157.31 -2.05 (-1.29%)

Boeing (BA): Buckingham lowered their rating from Buy to Neutral and lowered their target price from $142.00 to $136.00. Pre-market: 129.75 -1.44 (-1.10%)

Owens Corning (OC): KeyBanc lowered their rating from Buy to Hold. Pre-market: 36.51 -1.29 (-3.41%)

Transocean (RIG): Goldman Sachs lowered their rating from Neutral to Sell and lowered their target price from $53.00 to $50.00. Pre-market: 49.08 -0.42 (-0.85%)

Coverage Initiated:

Bally Technologies (BYI): Citigroup initiated coverage with a Neutral rating and target price of $77.50.

International Game Technology (IGT): Citigroup initiated coverage with a Buy rating and target price of $23.50. Pre-market: 18.68 0.00 (0.00%)

Earning Reports:

Biogen Idec (BIIB): Reported EPS of $2.35 beating estimates by +$0.25. Pre-market: 259.47 +7.21 (2.86%)

Burger King (BKW): Reported EPS of $0.23 beating estimates by +$0.02. Pre-market: 20.30 +0.54 (2.73%)

Kirby (KEX): Reported EPS of $1.21 beating estimates by +$0.09.

Lowes Corp (L): Reported EPS of $0.73 missing estimates by -$0.05. Pre-market: 50.99 +2.18 (4.47%)

Merck (MRK): Reported EPS of $0.92 beating estimates by +$0.04. Pre-market: 45.47 -1.07 (-2.30%)

Markets: 

Futures at 6:20: Dow +0.2%. S&P +0.25%. Nasdaq +0.4%. Crude +0.05% to $97.90. Gold 0.0% at $1352.70. U.S. 10 Year -1/32 2.518%

Europe: London +0.1%. Paris -0.3%. Frankfurt +0.1%. 

Asia: Japan +2.2% to 14396. Hong Kong +0.5% to 22807. China +0.04% at 2134. India -0.4% at 20595.