MORNING COFFEE

Google vs. Skype. Google (GOOG) announced that they are now offering VOIP calling through Gmail.  The service will compete with Skype and allow users to call landlines and cell phones in North America via the email service. Google will offer the service internationally and to businesses in the future.

Coverage Initiated

FedEx (FDX): Dahlman Rose initiated coverage with a Buy rating and target price of $97.00.

UPS (UPS): Dahlman Rose initiated coverage with a Hold rating.

Coverage Reiterated/Price Target Changed

Jo-Ann Stores (JAS): Wedbush reiterated their Outperform rating and raised their target price from $51.00 to $56.00.

Guess? (GES): Brean Murray reiterated their Buy rating and lowered their target price from $56.00 to $50.00.

Accenture (ACN): Kaufman Bros reiterated their Sell rating and lowered their target price from $37.00 to $34.00.

Earning Reports

Guess? (GES): Reported Q2 EPS of $0.72 beating estimates by +$0.04 on revenue of $577 million.

JDS Uniphase (JDSU): Reported FQ4 EPS of $0.15 beating estimates by +$0.01 on revenue of $398 million. 

·         Futures: Dow +0.2%. S&P +0.3%. Nasdaq +0.25%. Crude +1.25% to $73.43. Gold +0.2% to $1243.80.

·         Asia: Japan +0.7% to 8906. Hong Kong -0.1% to 20612. China +0.3% to 2603. India +0.3% to 18226.

·         Europe: London +0.8%. Paris +0.5%. Frankfurt +0.5%.