MORNING COFFEE

Warren Buffett Releases Shareholder Letter. Warren Buffets’s Berkshire Hathaway's (BRK.A/BRK.B) Q4 earnings rose 43% to $4.38B, and its large matrix of businesses showed increasing improvement.  Growth in the company’s book value, the measure Warren Buffett has used to compare his company's performance against the market, increased 13% for the year, less than the S&P 500's 15.1% return in 2010. Warren Buffett also commented on the company's Burlington Northern acquisition, saying it has gone "even better than I expected," the company has replenished the $22 billion in cash used for the acquisition. In his annual letter to shareholders, Buffett mentioned that he is actively looking for other “major” acquisitions saying "our elephant gun has been reloaded, and my trigger finger is itchy."

Earning Reports

Kenneth Cole (KCP): Reported EPS of -$0.13 per shares, missing estimates by -$0.44.

Almost Family (AFAM): Reported EPS of $0.79 beating estimates by +0.01.

·         Futures at 7:00: Dow +0.1%. S&P 0.0%. Nasdaq +0.1%. Crude -0.05% to $97.83. Gold +0.1% to $1410.80.

·         Europe: London -0.3%. Paris +0.2%. Frankfurt +0.4%.

·         Asia: Japan +0.9% to 10624. Hong Kong +1.4% to 23338. China +0.9% to 2905. India +0.7% to 17823.