Google Buys Boston Dynamics. Google (GOOG) has purchased Boston Dynamics, a manufacture of robots and software for the U.S. military and DARPA. Boston Dynamics is best known for their four legged robots on You Tube where Big Dog and Cheetah resemble something straight from a space sci-fi movie. Cheetah can run at speeds over 29 mph. Atlas is a humanoid robot able to traverse difficult terrain and designed to go where humans cannot. Pre-market: 1,063.80 +3.01 (0.28%)

Upgrades:

Blackberry (BBRY): Bernstein raised their rating from Underperform to Market Perform and placed a target price of $5.50 on the company. Pre-market: 6.18 +0.10 (1.64%)

Charles Schwab (SCHW): Evercore raised their rating from Underweight to Equal Weight.

Citigroup (C): Evercore raised their rating from Equal Weight to Overweight. Pre-market: 51.48 +0.51 (1.00%)

Exxon Mobil (XOM): Goldman Sachs raised their rating from Neutral to Buy and raised their target price from $96.00 to $109.00. Pre-market: 96.35 +1.04 (1.09%)

Fifth Third Bank (FITB): Evercore raised their rating from Equal Weight to Overweight.

Monster Beverage (MNST): RBC Capital raised their rating from Outperform to Top Pick and placed a target price of $77.00 on the company. Pre-market: 62.67 +1.21 (1.97%)

St Jude Medical (STJ): BMO Capital raised their rating from Market Perform to Outperform and raised their target price from $59.00 to $66.00.

Taser International (TASR): JPMorgan raised their rating from Neutral to Overweight and raised their target price from $17.00 to $18.50. Pre-market: 16.05 +0.53 (3.41%)

Tiffany & Co. (TIF): Canaccord raised their rating from Sell to Hold and raised their target price from $65.00 to $85.00. Pre-market: 90.20 +0.89 (1.00%)

Verizon Communications (VZ): Maquarie raised their rating from Neutral to Outperform. Pre-market: 48.25 +0.41 (0.86%)

Downgrades:

PNC Financial (PNC): Evercore lowered their rating from Overweight to Equal Weight. Pre-market: 75.22 -0.16 (-0.21%)

Starbucks (SBUX): Stephens lowered their rating from Overweight to Equal Weight and lowered their target price from $95.00 to $85.00. Pre-market: 76.18 -0.17 (-0.22%)

Twitter (TWTR): SunTrust lowered their rating from Buy to Neutral and maintained their target price of $50.00. Pre-market: 57.95 -1.05 (-1.78%)

Twitter (TWTR): Wells Fargo lowered their rating from Market Perform to Underperform and maintained their target range of $36.00-$39.00. Pre-market: 57.95 -1.05 (-1.78%)

Coverage Initiated:

Cintas (CTAS): Credit Suisse initiated coverage with a Neutral rating and target price of $56.00.

Markets: 
Futures at 6:20: Dow +0.4%. S&P +0.4%. Nasdaq +0.5%. Crude +0.5% to $97.11. Gold -0.5% to $1228.50. U.S. 10 Year -3/32 2.856%.

Europe: London +0.5%. Paris +0.8%. Frankfurt +1.4%. 

Asia: Japan -1.6% to 15153. Hong Kong -0.6% to 23115. China -1.6% to 2161. India -0.3% to 20660. 

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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.