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

Chrysler Post Nice Sales Gains.

Chrysler’s Group LLC's, which is owned by Fiat S.p.A (FIATY) reported that their May sales in the U.S. rose 11% beating estimates from Edmunds.com.

For May, Chrysler said it sold 166,596 vehicles, up from 150,041 a year ago, and +0.6% above April's total of 156,698. Truck sales at the company grew +8.8% while car sales increased +16%.

Sales of the Chrysler line of vehicles fell -2%, while Jeep rose +0.5%. Big sales increased were seen at Dodge led by the Dodge Avenger and Dodge Challenger.  Dodge saw their sales increase +23%.

General Motors Co. (GM), and Ford Motor Co. (F) along with other manufactures are expected to report May sales later today.

Overall, U.S. new auto sales for May are expected to rise +6.5% from a year earlier.

Upgrades

Best Buy (BBY): SunTrust raised their rating from Neutral to Buy and placed a target price of $35.00 on the company. Pre-market: 28.46 +0.91 (3.30%)

 Host Hotels & Resorts (HST): ISI Group raised their rating from Neutral to Buy.

Intel (INTC): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $23.00 to $28.00. Pre-market: 24.67 +0.39 (1.61%)

MetLife (MET): Deutsche Bank raised their rating from Hold to Buy and raised their target price from $46.00 to $51.00. Pre-market: 44.99 +0.78 (1.76%)

Orbitz Worldwide (OWW): Lazard Capital raised their rating from Neutral to Buy and placed a target price of $9.50 on the company.

Plum Creek Timber (PCL): Bank of America Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $55.00 on the company.

Starwood Hotels & Resorts (HOT): ISI Group raised their rating from Neutral to Buy.

Downgrades

Torchmark Corp (TMK): Janney Capital lowered their rating from Buy to Neutral.

Coverage Initiated

Applied Micro (AMCC): FBR Capital initiated coverage with an Outperform rating and target price of $11.00.

Guess? (GES): Topeka initiated coverage with a Hold rating and target price of $34.00.

Coverage Reiterated/Price Target Changed 

Google (GOOG): Cantor Fitzgerald reiterated their Buy rating and raised their target price from $900.00 to $1030.00. Pre-market: 874.77 +3.55 (0.41%)

Earning Reports

Cracker Barrel (CBRL): Reported EPS of $1.02 beating estimates by +$0.08. Pre-market: 93.01 +3.55 (3.97%)

Markets: 
Futures at 8:31: Dow +0.50%. S&P +0.29%. Nasdaq +0.33%. Crude +0.91% to $92.81. Gold +0.23% to $1396.70.

Europe: London -0.39%. Paris +0.16%. Frankfurt +0.13%. 

Asia: Japan -3.72% to 13262. Hong Kong -0.49% to 22282. China -0.06% to 2299. India -0.76% to 19610.