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Morning Coffee Pre-Market Wall Street News

72 views  2013-09-03 07:37   Tagsbackground  Microsoft  purchase  services  patents 

Microsoft to Buy Nokia. Reports say that Microsoft (MSFT) has agreed to purchase Nokia’s (NOK) handset unit for $5B and license its patents and mapping services for $2.2B. Nokia’s CEO Stephen Elop as well as other senior Nokia executives will be joining Microsoft, along with the company’s 32,000 workers. (MSFT) Pre-market: 31.84 -1.56 (-4.67%)  (NOK)  Pre-market: 5.54 +1.64 (42.05%)

Upgrades:

AT&T (T): Macquarie raised their rating from Underperform to Neutral. Pre-market: 34.05 +0.22 (0.65%)

Constellation Brands (STZ): Goldman Sachs raised their rating from Neutral to Buy and raised their target price for $59.00 to $65.00.

Finish Line (FINL): Janney Capital raised their rating from Neutral to Buy and raised their target price for $24.00 to $26.00.

NASDAX OMX (NDAQ): BMO Capital raised their rating from Market Perform to Outperform.

Nokia (NOK): Credit Suisse raised their rating from Underperform to Neutral. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Oppenheimer raised their rating from Underperform to Perform. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Bernstein raised their rating from Underperform to Market Perform. Pre-market: 5.54 +1.64 (42.05%)

Nokia (NOK): Deutsche Bank raised their rating from Sell to Hold.

Ryder Systems (R): Buckingham raised their rating from Neutral to Buy and maintained their target price of $68.00.

Verizon (VZ): RBC Capital raised their rating from Sector Perform to Outperform. Pre-market: 45.48 -1.90 (-4.33%)

Vodafone (VOD): Bernstein raised their rating from Underperform to Market Perform. Pre-market: 31.79 -0.56 (-1.73%)

Downgrades:

Apple (APPL): ABG Sundal lowered their rating from Hold to Sell and maintained their target price of $400.00. Pre-market: 492.00 +4.78 (0.98%)

Coca-Cola (KO): CLSA lowered their rating from Outperform to Underperform. Pre-market: 38.40 +0.22 (0.58%)

Dean Foods (DF): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $23.00 to $21.00.

Shaw Communications (SJR): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $27.00 to $26.00.

Coverage Initiated:

ING Groep NV (ING): UBS initiated coverage with a Buy rating and target price of $12.75. Pre-market: 11.01 +0.14 (1.29%)

Markets: 
Futures at 6:30: Dow +0.71%. S&P +0.82%. Nasdaq +0.66%. Crude -0.29% to $107.37. Gold -0.25% to $1392.80. U.S. 10 Year -15/32 2.846%.

Europe: London -0.14%. Paris -0.19%. Frankfurt -0.23%. 

Asia: Japan +2.99% to 13978. Hong Kong +0.99% to 22395. China +1.18% to 2123. India -3.45% to 18235. 

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