MORNING COFFEE

Google Tops Estimates and Announces Split. 
Google (GOOG) reported EPS of $10.08 topping Wall Street estimates by +$0.44. Excluding revenue passed on to partner sites, sales rose to $8.14 billion, matching estimates. The average cost per click declined 12%, while the number of paid clicks rose about 39%. Including mobile and desktop-computer searches, Google had 76% of spending on query-based marketing. Google+ continues to grow and now has more than 170 million users. The company also announced plans for a 2-for1 stock split. Shareholders will receive new nonvoting Class C shares that will trade under a different ticker symbol. Pre-market: 654.44 +3.43 (0.53%)

Coinstar Share Soar In Pre-Market. 

Shares of Coinstar are rocketing higher in pre-market trading after the company raised guidance for the first quarter and full-year 2012.  In a statement the company said the guidance reflects "stronger than anticipated" demand at Redbox movie-rental kiosks. The new EPS guidance from the company is $1.36 to $1.40 per share.  Previously the street was looking for earnings of $.90. Coinstar also lifted its revenue guidance for the first quarter to a range of $567.0 million to $569.2 million, Wall Street’s prior estimate was $537.66 million. Pre-market: 69.00 +7.69 (12.54%)

Upgrades

Altria (MO): Davenport raised their rating from Neutral to Buy and placed a target price of $34.00 on the company.

Downgrades

Celgene (CELG): Auriga lowered their rating from Buy to Hold and placed a target price of $82.00 on the company. Pre-market: 79.39 +0.81 (1.03%)

Coverage Initiated

Nike (NKE): Janney Capital initiated coverage with a Buy rating and target price of $127.00.

Under Armour (UA): Janney Capital initiated coverage with a Neutral rating and target price of $102.00.

Footlocker (FL): Janney Capital initiated coverage with a Buy rating and target price of $37.00.

Finish Line (FINL): Janney Capital initiated coverage with a Buy rating and target price of $25.00.

Quicksilver (ZQK): Janney Capital initiated coverage with a Neutral rating and target price of $4.00.

VMware (VMW): Piper Jaffray initiated coverage with an Overweight rating and target price of $125.00.

Coverage Reiterated/Price Target Changed

Coinstar (CSTR): The Benchmark Company reiterated their Buy rating and raised their target price from $75.00 to $85.00. Pre-market: 69.00 +7.69 (12.54%)

Coinstar (CSTR): Northland Securities reiterated their Outperform rating and raised their target price from $75.00 to $90.00. Pre-market: 69.00 +7.69 (12.54%)

Google (GOOG): Oppenheimer reiterated their Outperform rating and raised their target price from $725.00 to $733.00. Pre-market: 654.44 +3.43 (0.53%)

Earning Reports

Google (GOOG): Reported EPS of $10.08 beating estimates by +$0.44. Pre-market: 654.44 +3.43 (0.53%)

JB Hunt Trans (JBHT): Reported EPS of $0.57 beating estimates by +$0.06. Pre-market: 55.94 +0.10 (0.18%)

Infosys (INFY): Reported EPS of $40.54 missing estimates by -$0.72. Pre-market: 49.00 -7.77 (-13.69%)

JP Morgan Chase (JPM): Reported EPS of $1.31 beating estimates by +$0.16. Pre-market: 44.38 -0.46 (-1.03%)

Markets: 
Futures at 8:14: Dow -0.49%. S&P -0.44%. Nasdaq -0.36%. Crude -0.37% to $103.26. Gold -0.50% to $1672.00. 

Europe: London -0.66%. Paris -1.69%. Frankfurt -1.16%. 

Asia: Japan +1.19%. Hong Kong +1.84%. China +0.35%. India -1.37%.