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

Japan’s Debt Tops ¥1 quadrillion. Think the U.S. has a debt problem? Japan's national debt has passed ¥1 quadrillion mark first time. The country’s debt increased +1.7% in Q2 to ¥1,008.6T ($10.46T). Japans debt is now more than combined economies of Germany, France and the U.K. and more than twice the country’s GDP.   

Upgrades:

Baidu (BIDU): Citigroup raised their rating from Neutral to Buy and raised their target price from $113.00 to $167.00. Pre-market: 139.00 +3.26 (2.40%)

Cisco Systems (CSCO): JPMorgan raised their rating from Underweight to Neutral and raised their target price from $18.00 to $26.00. Pre-market: 26.40 +0.14 (0.53%)

J.C. Penney (JCP): Northcoast raised their rating from Sell to Neutral. Pre-market: 13.30 -0.36 (-2.64%)

Mosaic (MOS): BGC Financial raised their rating from Hold to Buy and placed a target price of $50.00 on the company. Pre-market: 43.95 +0.47 (1.08%)

St Jude Medical (STJ): Wells Fargo raised their rating from Market Perform to Outperform and raised their target range from $52.00 - $53.00 to $$61.00 - $62.00.

Tim Hortons (THI): BMO Capital raised their rating from Underperform to Market Perform and raised their target price from $57.00 to $60.00. Pre-market: 58.04 0.00 (0.00%)

Downgrades:

Gap Inc (GPS): Susquehanna lowered their rating from Positive to Neutral and raised their target price from $46.00 to $49.00. Pre-market: 44.53 -0.99 (-2.17%)

Foot Locker (FL): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $41.00 to $37.00. Pre-market: 34.58 -1.09 (-3.06%)

Coverage Initiated:

EOG Resources (EOG): Iberia initiated coverage with an Outperform rating and target price of $200.00.

Earning Reports:

DeVry (DV): Reported EPS of $0.54 beating estimates by +$0.13.

Lions Gate Entertainment (LGF): Reported EPS of $0.18 beating estimates by +$0.10. Pre-market: 35.54 +1.31 (3.83%)

Magna (MGA): Reported EPS of $1.78 beating estimates by +$0.14. Pre-market: 78.96 +2.00 (2.60%)

NRG Energy (NRG): Reported EPS of $0.39 beating estimates by +$0.33. Pre-market: 26.73 -0.17 (-0.63%)

Priceline.com (PCLN): Reported EPS of $9.70 beating estimates by +$0.28. Pre-market: 992.50 +58.75 (6.29%)

Markets: 
Futures at 8:30: Dow -0.26%. S&P -0.24%. Nasdaq -0.06%. Crude +0.54% to $103.97. Gold -0.11% to $1308.10. US 10 Year 0/32 2.591%.

Europe: London +0.49%. Paris +0.05%. Frankfurt +0.11%. 

 Asia: Japan +0.07% to 13615. Hong Kong +0.70% to 21808. China +0.36% to 2052. India +0.67% to 18,789. 

Morning Coffee Pre-Market Wall Street News

EU Unemployment Hits Record High. Unemployment in the eurozone rose in April to a new high of 12.2% from 12.1% in March. The new number means that over 19.4 million people are unemployed. Inflation in the zone rose to an annual 1.4% in May up from 1.2% in April. The core CPI, which excluded food and energy rose more than economist had expected to 1.2% from 1%.

Netflix Added to Nasdaq 100. On June 6^th Netflix (NFLX) will be added to the Nasdaq 100 replacing Perrigo (PRGO). Shares of Netflix may rise as portfolio managers at the company to their index funds. NFLX Pre-market: 224.70 +2.04 (0.92%)

Upgrades

Canadian National Railway (CNI): JPMorgan raised their rating from Underweight to Neutral and raised their target price from $96.00 to $110.00.

Downgrades

Golar LNG Partners (GMLP): BMO Capital lowered their rating from Outperform to Sector Perform and placed a target price of $34.00 on the company.

Panera Bread (PNRA): Lazard Capital lowered their rating from Buy to Neutral. Pre-market: 191.74 -2.08 (-1.07%)

Scotts Miracle-Gro (SMG): BMO Capital lowered their rating from Market Perform to Underperform and placed a target price of $43.00 on the company.

Coverage Initiated

Boston Scientific (BSX): Wedbush initiated coverage with a Neutral rating and target price of $10.00.

Chesapeake Energy (CHK): Goldman Sachs initiated coverage with a Neutral rating and target price of $26.00. Pre-market: 22.76 +0.23 (1.02%)

CVS Caremark (CVS): Wells Fargo initiated coverage with an Outperform rating and target range of $68.00 - $72.00.

Express Scripts (ESRX): Wells Fargo initiated coverage with a Market Perform rating and target range of $64.00 - $69.00.

Jazz Pharma (JAZZ): Stifel initiated coverage with a Buy rating and target price of $80.00.

Medtronic (MDT): Wedbush initiated coverage with a Neutral rating and target price of $54.00.

St Jude Medical (STJ): Wedbush initiated coverage with an Outperform rating and target price of $57.00.

Tiffany & Co (TIF): Credit Suisse initiated coverage with an Outperform rating and target price of $89.00.

Coverage Reiterated/Price Target Changed

Guess? (GES): B. Riley & Co. reiterated their Neutral rating and raised their target price from $26.00 to $36.00. Pre-market: 31.53 +2.18 (7.43%)

Earning Reports

Guess? (GES): Reported EPS of $0.14 beating estimates by +$0.06. Pre-market: 31.53 +2.18 (7.43%)

Krispy  Kreme (KKD): Reported EPS of $0.20 beating estimates by +$0.04. Pre-market: 15.77 +1.51 (10.59%)

Lions Gate Entertainment (LGF): Reported EPS of $0.66 beating estimates by +$0.21. Pre-market: 29.10 +1.07 (3.82%)

OmniVision (OVTI): Reported EPS of $0.31 beating estimates by +$0.10. Pre-market: 18.60 +3.11 (20.08%)

Pall (PLL): Reported EPS of $0.74 beating estimates by +$0.01.

Markets: 

Futures at 7:33: Dow -0.50%. S&P -0.50%. Nasdaq -0.50%. Crude -0.78% to $92.89. Gold +0.13% to $1413.30.

Europe: London -0.91%. Paris -0.60%. Frankfurt -0.54%. 

Asia: Japan +1.37% to 13775. Hong Kong -0.41% to 22392. China -0.74% to 2301. India -2.25% to 19760.