MORNING COFFEE

Visa & MasterCard Attacked. Yesterday hackers in a revenge attack called “Operation Payback” brought down the websites of Visa (V) and MasterCard (MA) yesterday.  The hackers said that the attack was revenge for breaking ties with WikiLeaks.  The group is also planning an attack against Ebay (EBAY) and their PayPal system.  

Coverage Initiated

Stryker (SYK): Wunderlich initiated coverage with a Hold rating and target price of $54.00.

Zimmer Holdings (ZMH): Wunderlich initiated coverage with a Hold rating and target price of $53.00.

Coverage Reiterated/Price Target Changed

Raymond James (RJF): Ticonderoga reiterated their Buy recommendation and raised their target price from $33.00 to $35.00.

Intl Rectifier (IRF): FBR Capital reiterated their Outperform recommendation and raised their target price from $32.00 to $35.00.

Earning Reports

Diamond Foods (DMND): Reported EPS of $0.64 beating estimates by +$0.04.

Smith & Wesson (SWHC): Reported EPS of $0.05 beating estimates by +$0.05.

SAIC (SAI): Reported Q3 EPS of $0.41 beating estimates by +$0.06 on revenue of $2.9 billion, up +3.8%.

Ciena (CIEN): Reported EPS of -$0.18 missing estimates by -$0.03.

Smithfield Foods (SFD): Reported EPS of $0.80 beating estimates by +$0.24.

·         Futures at 7:00: Dow +0.3%. S&P +0.3%. Nasdaq +0.2%. Crude +0.5% to $88.71. Gold +0.15% to $1385.30.

·         Asia: Japan +0.5% to 10286. Hong Kong +0.3% to 23172. China -1.3% to 2811. India -2.3% to 19242.

·         Europe: London +0.3%. Paris +0.6%. Frankfurt -0.1%.