Morning Coffee Pre-Market Wall Street News

Hostess Bids Due Today. Today is the deadline for companies to submit bids for Hostess Brands. Analysts estimate the company’s brands could fetch $1 - $1.5 billion. Flowers Foods (FLO) is expected to be one of the companies interested in Hostess after the company expanded its credit facility last week.  Reports are that some of the major supermarket chains are also interested in Hostess.

Upgrades

Swift Transportation (SWFT): Dahlman Rose raised her rating from Hold to Buy and placed a target price of $12.00 on the company.

Swift Transportation (SWFT): Wunderlich raised her rating from Hold to Buy.

Noble Energy (NBL): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $112.00 to $120.00.

Noble Energy (NBL): Global Hunter raised their rating from Accumulate to Buy and raised their target price from $106.00 to $115.00.

Anadarko Petro (APC): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $103.00 to $105.00.

Forest Labs (FRX): Cowen raised their rating from Neutral to Outperform.

Abercrombie & Fitch (ANF): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $48.00 to $55.00.

Downgrades

Noble Energy (NBL): Sterne Agee lowered their rating from Buy to Neutral.

United States Steel (X): Longbow lowered their rating from Neutral to Underperform and placed a target price of $17.00 on the company. Pre-market: 21.48 -0.29 (-1.33%)

Coverage Initiated

Teradyne (TER): Needham initiated coverage with a Buy rating and target price of $20.00.

Markets: 
Futures at 8:04: Dow -0.07%. S&P -0.13%. Nasdaq -0.22%. Crude +0.81% to $86.63. Gold +0.50% to $1714.10.

Europe: London -0.08%. Paris -0.19%. Frankfurt -0.31%. 

Asia: Japan +0.07% to 9534. Hong Kong +0.39% to 22277. China +1.07% to 2084. India -0.07% to 19410.