MORNING COFFEE

Sanofi-Aventis Completes Genzyme Deal.  

Drug maker Sanofi-Aventis (SNY) completed its $20.1 billion to purchase Genzyme (GENZ) after 84.6% of the U.S. company's stock was tendered.  Sanofi-Aventis will give Genzyme's remaining shareholders an additional four days to tender their shares.

Downgrades

CSX (CSX): Stifel Nicolaus lowered their rating from Buy to Hold.  

       

Royal Dutch Shell (RDS.A): The Benchmark Company lowered their rating from Hold to Sell.

Coverage Reiterated/Price Target Changed

Rockwell Automation (ROK): Longbow reiterated their Buy rating and raised their target price from $95.00 to $105.00.

Verizon (VZ): RBC Capital Markets reiterated their Outperform rating and raised their target price from $39.00 to $41.00.

Verizon (VZ): Argus reiterated their Buy rating and raised their target price from $39.00 to $44.00.

Apple (AAPL): Canaccord Genuity reiterated their Buy rating and raised their target price from $460.00 to $480.00.

·         Futures at 7:00 AM: S&P +0.23%. 10-yr -0.04%. Crude +0.44% to $108.41. Gold +0.6% to $1437.50.

·         Europe: London +0.1%. Paris 0.0%. Frankfurt 0.0%.

·         Asia: Japan +0.1%. Hong Kong +1.5%. China +1.3%. India +1.4%.