Chrysler IPO to Début in December

Chrysler IPO to Début in December. Reports say that Chrysler could reportedly carry out its IPO this December. The lead underwriters Bank of America (BAC) and JPMorgan (JPM) will be joined by Barclays (BCS), Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS).

Upgrades:

Green Mountain Coffee Roasters (GMCR): Janney Capital raised their rating from Neutral to Buy and raised their target price from $75.00 to $80.00.

Hillshire Bands (HSH): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $31.00 to $41.00.

Downgrades:

American Railcar Industries (ARII): Raymond James lowered their rating from Outperform to Underperform.

J.M. Smucker (SJM): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $110.00 on the company.

Qualcomm (QCOM): Raymond James lowered their rating from Strong Buy to Outperform and placed a target price of $79.00 on the company.

Republic Services (RSG): Goldman Sachs lowered their rating from Buy to Neutral and placed a target price of $36.00 on the company.

Coverage Initiated:

Baltic Trading (BALT): Longbow initiated coverage with a Buy rating and target price of $7.00.

Diana Shipping (DSX): Maxim initiated coverage with a Buy rating and target price of $14.00.

Facebook (FB): FBR Capital initiated coverage with an Outperform rating and target price of $60.00.

Genco Shipping & Trading (GNK): Maxim initiated coverage with a Hold rating.

LinkedIn (LNKD): FBR Capital initiated coverage with an Market Perform rating and target price of $214.00.

Navastar Intl (NAV): Longbow initiated coverage with a Neutral rating.

Star Bulk Containers (SBLK): Maxim initiated coverage with a Buy rating and target price of $12.00.

Earning Reports:

Abercrombie & Fitch (ANF): Reported EPS of $0.52 beating estimates by +$0.08. Pre-market: 34.00 -0.99 (-2.83%)

Dollar Tree (DLTR): Reported EPS of $0.58 missing estimates by -$0.02. Pre-market: 55.55 -3.37 (-5.72%)

Gamestop (GME): Reported EPS of $0.58 beating estimates by +$0.01.

Sears Hldg (SHLD): Reported EPS of -$5.03 missing estimates by -$1.64.

Target (TGT): Reported EPS of $0.54 missing estimates by -$0.10.

Markets: 
Futures at 6:20: Dow +0.25%. S&P +0.2%. Nasdaq +0.3%. Crude 0.0% at $93.35. Gold -0.9% to $1246.60. U.S. 10 Year -5/32 2.823%.

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

Asia, Japan +1.9% to 15365.6. Hong Kong -0.5% to 23580. China 0.0% at 2206. India -2% to 20229.

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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. 

Morning Coffee Pre-Market Wall Street News

Japan Market Sells Off Again. For the second time in two weeks the Japanese market sold off.  In late trading the Nikkei (EWJ) fell -5.15%, bring the two week decline to over -14%. Traders point to fears that the Fed will end its QE program as well as the falling dollar-yen (FXY) as the cause of the volatility. (FXY) Pre-market: 96.79 +0.01 (0.01%)

Upgrades

Diamond Offshore (DO): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $82.00 on the company.

Noble Corp (NE): Raymond James raised their rating from Market Perform to Outperform and placed a target price of $52.00 on the company.

Northrop Grumman (NOC): Goldman Sachs raised their rating from Neutral to Buy.

Republic Services (RSG): Wedbush raised their rating from Neutral to Outperform and raised their target price from $33.00 to $40.00.

SunPower (SPWR): Goldman Sachs raised their rating from Sell to Neutral and raised their target price from $13.00 to $18.00. Pre-market: 20.33 +0.69 (3.51%)

First Solar (FSLR): Goldman Sachs raised their rating from Neutral to Buy and placed a target price of $64.00 on the company.

Downgrades

Noble Corp (NE): JPMorgan lowered their rating from Overweight to Neutral and placed a target price of $43.00 on the company.

Stanley Black & Decker (SWK): Argus lowered their rating from Buy to Hold and placed a target price of $78.00 on the company.

Coverage Initiated

AT&T (T): BMO Capital initiated coverage with a Market Perform rating and placed a target price of $34.00 on the company.

Leap Wireless (LEAP): BMO Capital initiated coverage with an Underperform rating and placed a target price of $3.00 on the company.

Pfizer (PFE): Sun Trust initiated coverage with a Reduce rating.

Sprint Nextel (S): BMO Capital initiated coverage with an Outperform rating and placed a target price of $9.00 on the company.

Verizon Communications (VZ): BMO Capital initiated coverage with an Outperform rating and placed a target price of $55.00 on the company.

Coverage Reiterated/Price Target Changed

SEI Investments (SEIC): Stifel reiterated their Buy rating and raised their target price from $31.00 to $33.00.

Earning Reports

Big Lots (BIG): Reported EPS of $0.61 in-line with estimates. Pre-market: 34.90 -3.48 (-9.07%)

Costco (COST): Reported EPS of $1.04 beating estimates by +$0.01. Pre-market: 113.92 +0.97 (0.86%)

Joy Global (JOY): Reported EPS of $1.73 beating estimates by +$0.16. Pre-market: 54.82 -0.26 (-0.47%)

Tilly's (TLYS): Reported EPS of $0.08 beating estimates by +$0.01.

Markets: 
Futures at 8:31: Dow +0.24%. S&P +0.19%. Nasdaq +0.06%. Crude -0.58% to $92.60. Gold +1.02% to $1405.50.

Europe: London +0.17%. Paris +0.72%. Frankfurt +0.54%. 

Asia: Japan -5.15% to 13589. Hong Kong -0.31% to 22484. China -0.27% to 2318. India +0.34% to 20215.