MORNING COFFEE

Blackberry Unveils PlayBook. Research in Motion (RIMM) the maker of Blackberry phones unveiled a computer called the PlayBook.  The PlayBook runs on a new operating system and has a seven-inch screen and will not connect to a mobile phone networks. The tablet will compete against Apple's (AAPL) iPad and a host of other tablet computers rolling out for the holiday season running Google’s (GOOG) popular Android operating system. The company expects the PlayBook tablet to be available in the U.S. early next year.

S&P Warns On Ireland’s Debt. Standard & Poor's issued a warning that it may cut Ireland's credit rating again.  The possible cut is due to the cost of recapitalizing nationalized Anglo Irish Bank (AGCPF). The news comes a day after Moody's cut their rating.  The S&P warning sent Irish credit spreads and the cost of insuring Irish debt from default to new highs.

Upgrades

Las Vegas Sands (LVS): KeyBanc Capital Markets raised their rating from Underweight to Hold.

Downgrades

Alberto-Culver (ACV): Caris & Company lowered their rating from Above Average to Average.

Newmont Mining (NEM): Stifel Nicolaus lowered their rating from Buy to Hold.

Coverage Reiterated/Price Target Changed

Apple (AAPL): JMP Securities reiterated their Market Outperform rating and raised their target price from $290.00 to $335.00.

Southwest Air (LUV): Hudson Securities reiterated their Buy rating and raised their target price from $15.00 to $17.00.

New York Times (NYT): The Benchmark Company reiterated their Buy rating and lowered their target price from $11.00 to $9.00.

Seagate Tech (STX): RBC Capital Markets reiterated their Sector Perform rating and lowered their target price from $16.00 to $13.00.

Intuit (INTU): reiterated their Outperform rating and raised their target price from $45.00 to $52.00.

Electronic Arts (ERTS): Kaufman Bros reiterated their Buy rating and lowered their target price from $23.00 to $21.00.

Earning Reports

Jabil Circuit (JBL): Reported FQ4 EPS of $0.52 beating estimates by +$0.03 on revenue of $3.9 billion.

Paychex (PAYX): Reported FQ1 EPS of $0.36 Beating estimates by +$0.02 on revenue of $518 million.

·         Futures: Dow +0.19%. S&P +0.13%. Nasdaq +0.40%. Crude -0.68% to $76.00. Gold -0.59% to $1290.90.

·         Asia: Japan -1.12% to 9496. Hong Kong -1.03% to 22110. China -0.63% to 2611. India -0.06% to 20105.

·         Europe: London -0.35%. Paris -0.09%. Frankfurt +0.25%.