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Morning Coffee Pre-Market Wall Street News

265 views  2013-02-14 07:26   Tagsbackground  amended  terms  white  style 

AB InBev amends Terms of Modelo Deal. AB InBev (BUD) has amended the terms to acquire the remaining 50% stake in Mexican brewer Modelo. The $20.1 billion deal had some U.S. antitrust concerns. To alleviate these concerns AB InBev said it will  sell the Mexican company's Piedras Negras brewery to Constellation Brands (STZ) and give it the rights to sell Corona and other Modelo brands in the U.S. in a deal worth $2.9 billion. BUD Pre-market: 92.17 +3.91 (4.43%) STZ Pre-market: 39.90 +8.02 (25.16%)

U.S. Stock Futures Fall on Eurozone News. U.S. Stock futures are lower on news the eurozone recession deepened in Q4. Eurozone GDP fell more than economists had expected coming in at -0.6% vs -0.4% in Q3. Germany’s economy the largest in the eurozone contracted of 0.6% with France’s also shrinking.


AB InBev (BUD): Societe Generale raised their rating from Hold to Buy. Pre-market: 92.17 +3.91 (4.43%)

Ingram Micro (IM): Needham raised their rating from Hold to Buy and placed a target price of $22.00 on the company. After Hours: 19.00 +0.53 (2.87%)

Verizon (VZ): Raymond James raised their rating from Market Perform to Outperform. Pre-market: 44.75 +0.23 (0.52%)


Dell (DELL): Brean Capital lowered their rating from Buy to Hold. Pre-market: 13.80 +0.03 (0.22%)

Dell (DELL): Raymond James lowered their rating from Strong Buy to Market Perform. Pre-market: 13.80 +0.03 (0.22%)

Hyatt Hotels (H): FBR Capital lowered their rating from Outperform to Market Perform.

Lockheed Martin (LMT): Cowen lowered their rating from Outperform to Neutral.

NVIDIA (NVDA): Needham lowered their rating from Buy to Hold. Pre-market: 12.20 -0.17 (-1.37%)

Oceaneering Intl (OII): Goldman Sachs lowered their rating from Conviction Buy to Neutral.

Earning Reports

Cisco Systems (CSCO): Reported EPS of $0.51 beating estimates by +$0.03. Pre-market: 20.80 -0.34 (-1.61%)

DIRECTV (DTV): Reported EPS of $1.55 beating estimates by +$0.42. Pre-market: 52.00 +0.33 (0.64%)

Molson Coors Brewing (TAP): Reported EPS of $0.69 beating estimates by +$0.03. After Hours: 44.44 -0.18 (-0.40%)

PepsiCo (PEP): Reported EPS of $1.09 beating estimates by +$0.04. Pre-market: 72.86 +1.36 (1.90%)

Waste Management (WM): Reported EPS of $0.57 missing estimates by +$0.03. After Hours: 36.89 +0.25 (0.68%)

Futures at 7:05: Dow -0.44%. S&P -0.38%. Nasdaq -0.41%. Crude -0.16% to $96.85. Gold +0.16% to $1647.70.

Europe: London -0.66%. Paris -0.73%. Frankfurt -1.01%. 

Asia: Japan +0.50% to 11307. Hong Kong +0.85% to 23413. China closed. India -0.57% to 19497. 

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