MORNING COFFEE

Oracle Surprises Market. Oracle (ORCL) announced earnings that beat expectations.  The company saw quarterly profits jump 28% on a 47% increase in revenue.  The company also said it sees sales in the current quarter increasing 32-36%. Many traders saw this as further evidence that tech spending is rebounding. In the premarket ORCL shares are 4.1% higher.

Upgrades

Oracle (ORCL): Oppenheimer raised their rating from Perform to Outperform and placed a target price of $38.00 on the company.

Downgrades

Comerica (CMA): Robert W. Baird lowered their rating from Outperform to Neutral.

NASDAQ (NDAQ): FBR Capital lowered their rating from Outperform to Market Perform.

Coverage Initiated

Visa (V): Wedbush initiated coverage with a Neutral rating and a target price of $72.00.

Check Point Software (CHKP): Wunderlich initiated coverage with a Hold rating and a target price of $46.00.

Symantec (SYMC): Wunderlich initiated coverage with a Hold rating and a target price of $18.00.

MetroPCS (PCS): FBR Capital initiated coverage with a Market Perform rating and a target price of $14.00.

Coverage Reiterated/Price Target Changed

Halliburton (HAL): Oppenheimer reiterated their Outperform rating and raised their target price from $42.00 to $49.00.

Oracle (ORCL): RBC Capital Markets reiterated their Outperform rating and raised their target price from $32.00 to $36.00.

Oracle (ORCL): Stifel Nicolaus reiterated their Buy rating and raised their target price from $29.00 to $34.00.

Oracle (ORCL): FBR Capital reiterated their Outperform rating and raised their target price from $32.00 to $36.00.

Oracle (ORCL): ISI Group reiterated their Buy rating and raised their target price from $32.00 to $39.00.

FedEx (FDX): RBC Capital Markets reiterated their Outperform rating and raised their target price from $98.00 to $105.00.

Research In Motion (RIMM): Wedbush reiterated their Neutral rating and raised their target price from $58.00 to $60.00.

Research In Motion (RIMM):  Canaccord Genuity reiterated their Hold rating and raised their target price from $57.00 to $60.00.

Research In Motion (RIMM):  ISI Group reiterated their Hold rating and raised their target price from $60.00 to $65.00.

  

Earning Reports

Accenture (ACN): Reported FQ1 EPS of $0.81 beating estimates by +$0.06 on revenue of $6.1 billion. 

Oracle (ORCL): Reported FQ2 EPS of $0.51 beating estimates by +$0.05 on revenue of $8.6 billion.

Research In Motion (RIMM): Reported Q3 EPS of $1.74 beating estimates by +$0.09 on revenue of $5.5 billion. 

Take-Two Interactive Software (TTWO): Reported FQ4 EPS of $0.67 beating estimates by +$0.36 on revenue of $374 million. 

·         Futures at 7:00: Dow 0.0%. S&P -0.1%. Nasdaq -0.15%. Crude -0.25% to $87.48. Gold +0.1% to $1372.20.

·         Asia, Japan -0.1% to 10304. Hong Kong +0.2% to 22715. China -0.1% to 2894. India +1.1% to 19865.

·         Europe: London -0.2%. Paris -0.1%. Frankfurt -0.1%.