MORNING COFFEE

Google Markets First Product. Reports say that Google (GOOG) is working on a home entertainment system that wirelessly streams music.  The device will be the company’s first consumer device marketed under the Google brand.

Upgrades

Sealed Air (SEE): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $19.00 to $26.00.

Downgrades

First Solar (FSLR): Collins Stewart lowered their rating from Buy to Hold and placed a target price of $40.00 on the company.

True Religion (TRLG): Brean Murray lowered their rating from Buy to Hold.

True Religion (TRLG): The Benchmark Company lowered their rating from Buy to Hold and lowered their target price from $43.00 to $38.00.

Sirius XM Radio (SIRI): Gabelli lowered their rating from Buy to Hold.

Electronic Arts (EA): Macquarie lowered their rating from Outperform to Neutral and placed a target price of $18.00 on the company.

Coverage Initiated

Jacobs Engineering (JEC): Citigroup initiated coverage with a Neutral rating and target price of $52.00.

Earning Reports

Expedia (EXPE): Reported EPS of $0.58 beating estimates by +$0.03.

LinkIn (LNKD): Reported EPS of $0.12 beating estimates by +$0.05.

Markets: 
Futures at 7:00: Dow -0.5%. S&P -0.7%. Nasdaq -0.6%. Crude -1.25%to $98.59. Gold -1% to $1723.70. 

Europe: London -0.5%. Paris -1.3%. Frankfurt -1.2%. 

Asia: Japan -0.6% to 8947. Hong Kong -1.1% to 20784. China +0.1% to 2352. India -0.5% to 17749.