MORNING COFFEE

Fed Releases Bailout Details.  The Federal Reserve released details on who got what during the financial crisis in which the Fed handed out $3.3 trillion. Some are stating that the details of more than 21,000 transactions during the crisis, which included foreign firms, might have been more severe that previously thought.

·         Nearly $600 billion in credit went to Foreign central banks

·         Foreign banks UBS (UBS) and Barclays (BCS) tapped the Fed for $122.4 billion.

·         Nine of the ten largest money-market companies received support from the Fed, including BlackRock (BLK).

·         Thousands of companies received cash, including GE (GE)

·         The Fed’s Primary Dealer Credit Facility was accessed almost daily by Citigroup (C), 212 times by Morgan Stanley (MS) and 84 times by Goldman Sachs (GS).

The Wall Street Journal has a full list on their web site. http://graphicsweb.wsj.com/php/Federal-Loan-Data-Disclosure.html

PepsiCo To Buy Wimm-Bill-Dann.  PepsiCo (PEP) announced that they will purchase 66% of Russian company Wimm-Bill-Dann (WBD) for $5.4 billion.   Wimm-Bill-Dann, manufactures baby food, dairy products and juice. 

Upgrades

Suntech Power (STP): Auriga U.S.A raised their rating from Hold to Buy and raised their target price from $9.00 to $11.00.

Downgrades

Aeropostale (ARO): Wedbush lowered their rating from Outperform to Neutral and lowered their target price from $29.00 to $25.00.

Coverage Initiated

ITT Industries (ITT): Wedbush initiated coverage with an Outperform rating and a target price of $58.00.

Calpine (CPN):  Wunderlich initiated coverage with a Buy rating and a target price of $16.00.

Coverage Reiterated/Price Target Changed 

Laboratory Corp (LH): Davenport reiterated their Buy rating and raised their target price from $90.00 to $98.00.

Cognizant Tech (CTSH): Oppenheimer reiterated their Outperform rating and raised their target price from $70.00 to $75.00.

Tractor Supply (TSCO): Wedbush reiterated their Outperform rating and raised their target price from $45.00 to $52.00.

Tractor Supply (TSCO): FBR Capital reiterated their Underperform rating and raised their target price from $31.00 to $35.00.

Aeropostale (ARO): Oppenheimer reiterated their Outperform rating and lowered their target price from $35.00 to $31.00.

Aeropostale (ARO): Brean Murray reiterated their Buy rating and lowered their target price from $45.00 to $32.00.

Zumiez (ZUMZ): Janney Montgomery Scott reiterated their Buy rating and raised their target price from $30.00 to $36.00.

Zumiez (ZUMZ): Oppenheimer reiterated their Outperform rating and raised their target price from $29.00 to $35.00.

Earning Reports

Toll Brothers (TOL): Reported FQ4 EPS of $0.38 beating estimates by +$0.30 on revenue of $402.6 million down -17.3%.

Del Monte (DLM): Reported EPS of $0.41 beating estimates by +$0.06.

Aeropostale (ARO): Reported Q3 EPS of $0.67 beating estimates by +$0.01 on revenue of $603 million up +6.2%. 

Zumiez (ZUMZ): Reported EPS of $0.40 beating estimates by +$0.03.

Collective Brands (PSS): Reported Q3 EPS of $0.75 beating estimates by +$0.24 on revenue of $882 million up +1.7%.

·         Futures at 7:00: Dow +0.2%. S&P +0.3%. Nasdaq +0.4%. Crude -0.05% to $86.71. Gold +0.2% to $1391.

·         Asia: Japan +1.8% to 10169. Hong Kong +0.9% to 23449. China +0.7% to 2844. India +0.7% to 19993.

·         Europe: London +0.5%. Paris +0.7%. Frankfurt 0.0%.