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Morning Coffee Pre-Market Wall Street News

82 views  2013-08-09 07:34

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. 

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