MORNING COFFEE

Apple to Unveil iPhone 5. Apple (AAPL) is expected to unveil it highly anticipated iPhone 5 today at 1:00 PM ET.  The new phone is reported to be 4G, have a larger screen and run on Apple’s new iOS operating system.  The iPhone 5 is also reported to be thinner than the iPhone 4S 6.  Pre-market: 665.75 +5.16 (0.78%)

Upgrades

SkyWest (SKYW): Dahlman Rose raised their rating from Sell to Hold. Pre-market: 9.80 +0.40 (4.31%)

J.B. Hunt (JBHT): Bank of America / Merrill Lynch raised their rating from Neutral to Buy and placed a target price of $60.00 on the company.

Downgrades

Amgen (AMGN): Robert W. Baird lowered their rating from Outperform to Neutral and placed a target price of $84.00 on the company.

Synaptics (SYNA): Needham lowered their rating from Buy to Hold and placed a target price of $31.00 on the company.

Nabors Industries (NBR): Macquarie lowered their rating from Outperform to Neutral and lowered their target price from $16.50 to $15.00. Pre-market: 15.63 -0.02 (-0.13%)

Automatic Data Processing (ADP): Jefferies lowered their rating from Hold to Underperform and maintained its target price of $55.00.

Coverage Initiated

Visa (V): Pacific Crest initiated coverage with an Outperform rating and target price of $150.00.

MasterCard (MA): Pacific Crest initiated coverage with an Outperform rating and target price of $500.00.

Markets: 
Futures at 8:23: Dow +0.35%. S&P +0.40%. Nasdaq +0.54%. Crude +0.27% to $97.44. Gold +0.60% to $1745.50.

Europe: London -0.02%. Paris +0.42%. Frankfurt +0.61%. 

Asia: Japan +1.73%. Hong Kong +1.10%. China +0.28%. India +0.82%.