MORNING COFFEE

Banks To Go Bust Again.  According to the Wall Street Journal nearly 100 banks that received a Federal bailout are in danger of failing again.  98 of the banks had received a total of $4.2 billion from the Treasury Department from the Troubled Asset Relief Program, better known as TARP.  The warning comes after analyzing the third-quarter financial results and number of troubled banks appears to be increasing. 

Downgrades

RC2 (RCRC): Caris & Company lowered their rating from Above Average to Average and lowered their target price from $27.00 to $26.00.

Coverage Initiated

HiSoft Tech (HSFT): BMO Capital Markets initiated coverage with an Outperform rating and target price of $39.00.

Coverage Reiterated/Price Target Changed

Valmont (VMI): Stifel Nicolaus reiterated their Buy rating and raised their target price from $87.00 to $102.00.

ZAGG (ZAGG): Northland Securities reiterated their Outperform rating and raised their target price from $87.00 to $102.00.

Terremark Worldwide (TMRK): Kaufman Bros reiterated their Buy rating and raised their target price from $11.00 to $15.00.

·         Futures at 7:00: Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude +0.3% to $91.27. Gold +1.1% to $1397.80.

·         Europe: London closed. Paris +0.4%. Frankfurt +0.1%.

·         Asia: Japan -0.6% to 10293. Hong Kong -0.9% to 22622. China -1.7% to 2733. India 0.0% at 20025.