Morning Coffee Pre-Market Wall Street News

Tesla’s Earnings Beat Estimates. Tesla's (TSLA) reported EPS of shares $0.05 vs consensus for a loss of $0.17, while revenues surged to $405.1M from $26.6M last year and the gross margin hit 22%. Helping the numbers is the very popular all electric Model S. Shares of the company rose 12.5% in the pre-market.

Upgrades:

Groupon (GRPN): Raymond James raised their rating from Underperform to Market Perform.

Microsoft (MSFT): Evercore raised their rating from Equal Weight to Overweight.

Lowe’s Cos (LOW): Cleveland Research raised their rating from Neutral to Buy.

Lowe’s Cos (LOW): JPMorgan raised their rating from Neutral to Overweight.

Tata Motors (TTM): Nomura raised their rating from Neutral to Buy.

Downgrades:

Ralph Lauren (RL): ISI Group lowered their rating from Strong Buy to Buy.

Target Corp (TGT): JPMorgan lowered their rating from Overweight to Neutral.

Whole Food Markets (WFM): Northcoast lowered their rating from Buy to Neutral.

Coverage Initiated:

Netflix (NFLX): RW Baird initiated coverage with a Neutral rating and target price of $263.00.

Nike (NKE): Wells Fargo initiated coverage with an Outperform rating and target range of $73.00 - $76.00.

Stryker (SYK): Needham initiated coverage with a Hold rating.

Under Armour (UA): Wells Fargo initiated coverage with a Market Perform rating and target range of $73.00 - $75.00.

Zimmer Holdings (ZMH): Needham initiated coverage with a Buy rating and target price of $98.00.

Earning Reports:

Advance Auto (AAP): Reported EPS of $1.59 beating estimates by +$0.10.

Chiquita Brands (CQB): Reported EPS of $0.66 beating estimates by +$0.20.

Cooper Tire (CTB): Reported EPS of $0.55 missing estimates by -$0.38.

Foster Wheeler (FWTL): Reported EPS of $0.54 beating estimates by +$0.21.

MAXIMUS (MMS): Reported EPS of $0.41 in-line with estimates.

Orbitz (OWW): Reported EPS of $0.00 missing estimates by -$0.10.

Tesla Motors (TSLA): Reported EPS of $0.05 beating estimates by +$0.22.

TreeHouse Foods (THS): Reported EPS of $0.65 beating estimates by +$0.02.

Transocean (RIG): Reported EPS of $1.08 in-line with estimates.

Markets: 

Futures at 9:10: Dow +0.42%. S&P +0.41%. Nasdaq +0.44%. Crude -0.89% to $103.50. Gold +0.59% to $1292.90. U.S. 10 Year 5/32 2.594

Europe: London +0.59%. Paris +0.70%. Frankfurt +0.90%. 

Asia: Japan -1.59% to 13606. Hong Kong +0.31% to 21656. China -0.09% to 2045. India +0.67% to 18,789. 

Morning Coffee Pre-Market Wall Street News

Fed Fears Rock World Markets. World markets are lower after two Fed policy makers, including Charles Evans, said the U.S. central bank could start tapering as early as next month. The remarks sent the dollar lower against the yen, which in turn caused the Nikkei to fall -4%. This comes much sooner than Wall Street had expected and many feel that the economy which is still on shaky ground could start to lose steam.

Upgrades:

Louisiana Pacific (LPX): TD Securities raised their rating from Reduce to Hold.

Maximus (MMS): First Analysis raised their rating from Equal Weight to Overweight and placed a target price of $45.00 on the company.

Yum! Brands (YUM): BofA Merrill Lynch raised their rating from Underperform to Neutral and raised their target price from $60.00 to $75.00.

Downgrades:

CVS Caremark (CVS): Cantor lowered their rating from Buy to Hold and lowered their target price from $65.00 to $62.00.

Fossil Group (FOSL): Citigroup lowered their rating from Buy to Neutral.

McDermott Intl (MDR): Stifel lowered their rating from Buy to Hold.

Coverage Initiated:

Baxter Intl (BAX): Goldman Sachs initiated coverage with a Conviction Buy rating and target price of $86.00.

Earning Reports:

AOL (AOL): Reported EPS of $0.35 beating estimates by +$0.02.

Carlyle (CG): Reported EPS of $0.39 missing estimates by -$0.17.

Clean Harbors (CLH): Reported EPS of $0.38 missing estimates by -$0.19.

Duke Energy (DUK): Reported EPS of $0.87 missing estimates by -$0.07.

Huntington Ingalls (HII): Reported EPS of $1.12 beating estimates by +$0.17.

Kelly Services (KELYA): Reported EPS of $0.33 beating estimates by +$0.08.

Walt Disney (DIS): Reported EPS of $1.03 beating estimates by +$0.02.

Markets: 
Futures at 8:20: Dow -0.45%. S&P -0.45%. Nasdaq -0.31%. Crude +0.15% to $105.46. Gold -0.5% to $1275.40. U.S. 10 Year 3/32 2.634%.

Europe: London -0.89%. Paris +0.05%. Frankfurt -0.39%. 

Asia: Japan -4.00% to 13825. Hong Kong -1.53% to 21589. China -0.67% to 2047. India -0.36% to 18665.