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Morning Coffee Pre-Market Wall Street News

223 views  2013-03-13 07:43   Tagsgiant  head  background  internet  Google 

Google Doubles Cloud Effort. Reports say the internet giant Google (GOOG) is doubling the its office space near Seattle and that they are actively hiring cloud-technology engineers. The company will go head to head with Amazons’ (AMZN) Web Services and Microsoft's (MSFT) Azure.

Upgrades

Boeing (BA): BB&T raised their rating from Underweight to Neutral. Pre-market: 84.60 +0.44 (0.52%)

Coach (COH): Citigroup raised their rating from Neutral to Buy and placed a target price of $56.00 on the company. Pre-market: 50.04 +1.23 (2.52%)

Dicks Sporting Goods (DKS): Monness Crespi raised their rating from Neutral to Buy and placed a target price of $62.00 on the company. Pre-market: 47.70 +0.38 (0.80%)

Diamond Foods (DMND): Jefferies raised their rating from Underweight to Neutral and raised their target price from $11.00 to $15.00. Pre-market: 16.00 +0.11 (0.69%)

Discover Financial Services (DFS): FBR Capital raised their rating from Market Perform to Outperform and raised their target price of $42.00 to $48.00. Pre-market: 42.61 +0.48 (1.14%)

Dreamworks Animation (DWA): Stifel Nicholaus raised their rating from Sell to Hold.

Oracle (ORCL): Canaccord raised their rating from Hold to Buy and placed a target price of $42.00 on the company. Pre-market: 35.90 +0.47 (1.33%)

Republic Services (RSG): BB&T raised their rating from Hold to Buy and placed a target price of $39.00 on the company.

Walgreen (WAG): UBS raised their rating from Neutral to Buy and raised their target price from $48.00 to $41.00. Pre-market: 41.75 +0.71 (1.73%)

Downgrades

Spectrum Pharma (SPPI): Wunderlich lowered their rating from Buy to Sell and lowered their target price from $20.00 to $5.50. Pre-market: 7.94 -4.49 (-36.12%)

Synergetics (SURG): Wunderlich lowered their rating from Buy to Hold and lowered their target price from $8.00 to $5.50.

Target Corp. (TGT): Buckingham lowered their rating from Buy to Neutral and placed a target price of $69.00 on the company. Pre-market: 66.60 -0.51 (-0.76%)

Texas Instruments (TXN): Berstein lowered their rating from Outperform to Market Perform and placed a target price of $38.00 on the company. Pre-market: 35.36 -0.26 (-0.73%)

Valero Energy (VLO): Macquarie lowered their rating from Outperform to Neutral. Pre-market: 44.30 -1.25 (-2.74%)

W.W. Grainger (GWW): BB&T lowered their rating from Buy to Hold.

Coverage Initiated

Flagstar Bancorp (FBC): Compass Point initiated coverage with a Sell rating and target price of $12.00.

Micron Technology (MU): Sun Trust initiated coverage with a Neutral rating and target price of $37.00. Pre-market: 9.34 +0.02 (0.21%)

Coverage Reiterated/Price Target Changed

Chevron (CVX): Cowen reiterated their Buy rating and raised their target price from $129.00 to $133.00. Pre-market: 118.25 0.00 (0.00%)

Earning Reports

Dole Food (DOLE): Reported EPS of -$0.59 missing estimates by -$0.57. Pre-market: 11.05 -0.68 (-5.80%)

Markets: 
Futures at 8:13: Dow -0.18%. S&P -0.16%. Nasdaq -0.16%. Crude +0.19% to $92.71. Gold +0.21% to $1595.10.

Europe: London -0.98%. Paris -0.47%. Frankfurt -0.16%. 

Asia: Japan -0.61% to 12240. Hong Kong -1.46% to 22557. China -0.99% to 2264. India -1.03% to 19363. 

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