MORNING COFFEE

Wal-Mart To Sell iPads. Wal-Mart (WMT) will begin selling Apple’s (AAPL) iPad starting Friday.  Wal-Mart plans to have 2,300 stores selling the iPad by mid-November.

Microsoft Releases New Phones. Microsoft (MSFT) announced they were releasing nine new phones based on Windows Phone 7, the operating system.  The company spent two years developing the new software and plans to spend $100 million promoting it.   

 Upgrades

Google (GOOG): Wedbush raised their rating from Underperform to Neutral and raised their target price from %525.00 to $575.00.

Verizon (VZ): Argus raised their rating from Hold to Buy and placed a target price of $39.00 on the company.

Downgrades

Canadian National Rail (CNI): Stifel Nicolaus lowered their rating from Buy to Hold.

Canadian Pacific (CP): Stifel Nicolaus lowered their rating from Buy to Hold.

Synaptics (SYNA): Collins Stewart lowered their rating from Buy to Hold.

Coverage Initiated

Dun & Bradstreet (DNB): The Benchmark Company initiated coverage with a Hold rating and target price of $82.00.

Coverage Reiterated/Price Target Changed

Google (GOOG): Stifel Nicolaus reiterated their Buy rating and raised their target price from $560.00 to $600.00.

eBay (EBAY): RBC Capital Markets reiterated their Outperform rating and raised their target price from $25.00 to $28.00.

Franklin Resources (BEN): Ticonderoga reiterated their Buy rating and raised their target price from $120.00 to $135.00.

Franklin Resources (BEN): FBR Capital reiterated their Outperform rating and raised their target price from $127.00 to $130.00.

Williams-Sonoma (WSM): Oppenheimer reiterated their Outperform rating and raised their target price from $40.00 to $42.00.

Earning Reports

Fastenal (FAST) reported EPS of $0.51 beating estimates by +$0.01.

·         Futures: Dow -0.5%. S&P -0.6%. Nasdaq -0.5%. Crude -1.1% to $81.33. Gold -0.9% to $1342.60.

·          Asia: Japan -2.1% to 9389. Hong Kong -0.4% to 23122. China +1.2% to 2841. India -0.7% to 20203.

·         Europe: London -0.8%. Paris -1.2%. Frankfurt -0.5%.