MORNING COFFEE

Oracle Sues Google. 

Oracle (ORCL) has filed a lawsuit against Google (GOOG) for patent and copyright infringement.  The suit claims that Google's Android operating system violates seven Java patents and related copyrights. The suit seeks unspecified damages and an injunction against "continued acts of infringement."

India To Block BlackBerry. 

India said it will begin blocking BlackBerry services unless Research In Motion (RIMM) addresses its security concerns by August 31.  India wants the company to make encrypted BlackBerry communications available to Indian intelligence and law enforcement agencies. Currently RIM said it won't give any country "special deals" and would not compromise BlackBerry's encryption. Additionally, The Financial Times is reporting that India has made a decision to raise similar concerns with Google (GOOG), Skype and other communications services.

Coverage Reiterated/Price Target Changed

ITT Educational (ESI): RBC Capital Markets reiterated their Sector Perform rating and lowered their target price from $100.00 to $78.00.

Estee Lauder (EL): RBC Capital Markets reiterated their Sector Perform rating and lowered their target price from $69.00 to $65.00.

DeVry (DV): RBC Capital Markets reiterated their Outperform rating and lowered their target price from $80.00 to $52.00.

DeVry (DV): FBR Capital reiterated their Outperform rating and lowered their target price from $72.00 to $60.00.

Apollo Group (APOL): RBC Capital Markets reiterated their Sector Perform rating and lowered their target price from $75.00 to $45.00.

Advance Auto (AAP): Wedbush reiterated their Outperform rating and raised their target price from $60.00 to $61.00.

Wendy's (WEN): Oppenheimer reiterated their Outperform rating and lowered their target price from $5.90 to $5.30.

Earning Reports

Autodesk (ADSK): Reported Q2 EPS of $0.36 beating estimates by +0.09 on revenue of $473 million.

DeVry (DV): Reported FQ4 EPS of $0.99 beating estimates by +0.17 on revenue of $507 million.

Nordstrom (JWN): Reported Q2 EPS of $0.66 in-line on revenue of $2.4 billion.

·         Futures: Dow -0.2%. S&P -0.3%. Nasdaq -0.3%. Crude +0.2% to $75.86. Gold +0.1% to $1217.60.

·         Asia: Japan +0.4% to 9253. Hong Kong -0.2% to 21072. China +1.2% to 2607. India +0.5% to 18167.

·         Europe: London -0.4%. Paris -0.8%. Frankfurt -0.7%.