Twitter Share Lock-Up Expiring

Twitter Share Lock-Up Expiring. The first lock-up period after Twitter's (TWTR) successful IPO is due to expire tomorrow. This will allow non-executive employees, which hold 9.87M shares to sell their stock. The expiration of the lock-up period will increase the number of outstanding tradable shares by 12% to 90M. A second lock-up period will expire in May allowing another 474.7M shares to be eligible for sale. Pre-market: 57.03 +0.56 (0.99%)

Upgrades:

Exxon Mobil (XOM): ISI Group raised their rating from Neutral to Buy. Pre-market: 92.00 +0.57 (0.62%)

Starwood Hotels & Resorts (HOT): UBS raised their rating from Neutral to Buy and raised their target price from $75.00 to $85.00.

TreeHouse Foods (THS): Credit Suisse raised their rating from Underperform to Neutral and raised their target price from $67.00 to $70.00.

Downgrades:

Foster Wheeler (FWLT): Macquarie lowered their rating from Outperform to Neutral.

Foster Wheeler (FWLT): BB&T lowered their rating from Buy to Hold.

Mattel (MAT): Argus lowered their rating from Buy to Hold.

Snap-On Inc. (SNA): S&P lowered their rating from 4 Stars to 3 Stars.

Coverage Initiated:

Allscripts Healthcare (MDRX): RBC Capital initiated coverage with an Outperform rating and target price of $20.00.

WebMD Health (WBMD): RBC Capital initiated coverage with a Top Pick rating and target price of $70.00.

Earning Reports:

Campbell Soup (CPB): Reported EPS of $0.76 beating estimates by +$0.05. Pre-market: 42.50 +1.53 (3.73%)

DTE Energy (DTE): Reported EPS of $0.70 missing estimates by -$0.15.

Equifax (EFX): Reported EPS of $0.91 in-line with estimates.

Hyatt Hotels (H): Reported EPS of $0.32 beating estimates by +$0.12.

J.M. Smucker (SJM): Reported EPS of $1.66 missing estimates by -$0.02. Pre-market: 90.75 -4.39 (-4.61%)

Kraft Foods (KRFT): Reported EPS of $1.54 beating estimates by +$0.92. Pre-market: 54.00 +0.40 (0.74%)

TWR Automotive (TRW): Reported EPS of $1.84 beating estimates by +$0.18.

V.F. Corp (VFC): Reported EPS of $0.82 missing estimates by -$0.02. Pre-market: 55.70 -4.19 (-7.00%)

Markets: 
Futures at 8:09: Dow +0.03%. S&P 0.00%. Nasdaq +0.10%. Crude -0.24% to $100.11. Gold +1.28% to $1316.90. U.S. 10 Year 0/32 to 2.736%.

Europe: London +0.11%. Paris +0.46%. Frankfurt +0.58%. 

Asia: Japan -1.53% to 14313. Hong Kong +0.60% to 22298. China +0.83% to 2116. India +0.86% to 20367. 

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Morning Coffee Pre-Market Wall Street News

Muni Bond Funds Experience Exodus. Through Wednesday Municipal bond funds experienced outflows of over $1.2B since Detroit declared bankruptcy. This marks the ninth week in a row of net outflows that began after the Fed hinted at changing their current stimulus plan.  Yesterday in court Bankruptcy Judge Steven Rhodes suspended the lawsuits by the unions calling the Bankruptcy unconstitutional according to Michigan law. The spike in net outflows is due to the concern that there are many other large cities like Chicago and Los Angeles that are in the same financial position as Detroit.

Upgrades:

Advance Auto Parts (AAP): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $82.00 to $92.00.

Campbell Soup (CPB): Credit Suisse raised their rating from Underperform to Neutral and raised their target price from $44.00 to $48.00.

L-3 Communications (LLL): Bank of America Merrill Lynch raised their rating from Underperform to Neutral and raised their target price from $73.00 to $97.00.

Tesla Motors (TSLA): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $50.00 to $160.00.

Downgrades:

Bed Bath & Beyond (BBBY): BB&T lowered their rating from Buy to Hold.

Diamond Offshore (DO): Williams Capital lowered their rating from Buy to Hold and lowered their target price from $86.00 to $77.00.

Dolby Labs (DBL): Dougherty lowered their rating from Buy to Neutral.

Expedia (EXPE): Raymond James lowered their rating from Outperform to Market Perform.

Facebook (FB): Argus lowered their rating from Buy to Hold.

Noble Energy (NBL): Johnson Rice lowered their rating from Focus List to Overweight.

Viacom (VIAB): Stifel lowered their rating from Buy to Hold.

Southwest Airlines (LUV): Raymond James lowered their rating from Outperform to Market Perform.

Teradyne (TER): Pacific Crest lowered their rating from Outperform to Sector Perform.

Zanga (ZNGA): Needham lowered their rating from Buy to Hold.

Earning Reports:

Amazon.com (AMZN): Reported EPS of -0.02 missing estimates by -$0.07. Pre-market: 300.28 -3.12 (-1.03%)

Chubb (CB): Reported EPS of $1.77 beating estimates by +$0.20.

Dolby Labs (DLB): Reported EPS of $0.47 beating estimates by +$0.05.

Dole Food (DOLE): Reported EPS of $0.28 beating estimates by +$0.17.

Expedia (EXPE): Reported EPS of $0.64 missing estimates by -$0.20. Pre-market: 50.19 -14.81 (-22.78%)

NETGEAR (NTGR): Reported EPS of $0.62 beating estimates by +$0.06.

Republic Services (RSG): Reported EPS of $0.43 missing estimates by -$0.06.

Starbucks (SBUX): Reported EPS of $0.55 beating estimates by +$0.02.

Zynga (ZNGA): Reported EPS of -$0.01 beating estimates by +$0.03.

Markets: 
Futures at 8:41: Dow -0.41%. S&P -0.54%. Nasdaq -0.18%. Crude -0.89% to $104.56. Gold -0.39% to $1323.70.  U.S.10 Year +6/32 2.549%

Europe: London -0.38%. Paris +0.23%. Frankfurt -0.70%. 

Asia: Japan -2.97% to 14130. Hong Kong +0.31% to 21969. China -0.51% to 2011. India -0.29% to 19,750.