MORNING COFFEE

J&J Announces Recall. Johnson & Johnson (JNJ) announced a recall on its Rolaids antacid products due to possible metal and wood particle contamination.

S&P 500 Index Updated. Standard & Poor’s announced that it will be adding Cablevision Systems (CVC), Netflix (NFLX), F5 Networks (FFIV) and Newfield Exploration (NFX) to the S&P 500 Index.  To make room for the companies they will be removing Eastman Kodak (EK), King Pharmaceuticals (KG), New York Times Co. (NYT), and Office Depot (ODP).

Upgrades

Capital One (COF): FBR Capital raised their rating from Market Perform to Outperform and raised their target price from $45.00 to $53.00.

Airgas (ARG): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $72.00 to $74.00.

Coverage Initiated

Telefonica S.A. (TEF): Jefferies initiated coverage with a Buy rating.

Calpine (CPN): Oppenheimer initiated coverage with an Outperform rating and target price of $16.00.

Coverage Reiterated/Price Target Changed

Intel (INTC): Auriga U.S.A reiterated their Buy rating and raised their target price from $22.00 to $26.00.

Akamai Tech (AKAM): FBR Capital reiterated their Market Perform rating and raised their target price from $46.00 to $48.00.

Research In Motion (RIMM): Wunderlich reiterated their Buy rating and raised their target price from $67.00 to $76.00.

Earning Reports

Green Mountain Coffee Roasters (GMCR): Reported FQ4 EPS of $0.22 beating estimates by +$0.02 on revenue of $373 million.

National Semiconductor (NSM): Reported FQ2 EPS of $0.34 beating estimates by +$0.02 on revenue of $391 million.

·         Futures at 7:00: Dow +0.2%. S&P +0.2%. Nasdaq +0.15%. Crude +0.5% to $88.81. Gold -0.2% to $1389.80.

·         Asia: Japan -0.7% to 10212. Hong Kong 0.0% at 23163. China +1.1% to 2841. India +1.4% to 19509.

·         Europe: London -0.2%. Paris 0.0%. Frankfurt +0.5%.