MORNING COFFEE

General Mills and Nestle Look To Buy Yoplait. Reports says that both General Mills (GIS) and Nestle (NSRGY) are among the leading bidders for a 50% stake in Yoplait.  Both companies summated bids valuing the company at €1.6 billion ($2.2 billion). Reports also say that Bright Dairy & Food Co. a Chinese firm, submitted an offer of around €1.7 billion. The final bidder may be selected in the next few weeks.

Coverage Initiated

Regis (RGS): Oppenheimer initiated coverage with an Outperform rating and target price of $23.00.

Allscripts-Misys Healthcare (MDRX): FBR Capital initiated coverage with a Market Perform rating and target price of $22.00.

Coverage Resumed

Cognizant Tech (CTSH): Kaufman Bros resumed coverage with a Buy rating and target price of $91.00.

Coverage Reiterated/Price Target Changed

Public Storage (PSA): Argus reiterated their Buy rating and raised their target price from $112.00 to $122.00.

Waddell & Reed (WDR): Stifel Nicolaus reiterated their Buy rating and raised their target price from $43.00 to $46.00.

Edison (EIX): Wunderlich reiterated their Hold rating and raised their target price from $37.00 to $39.00.

Earning Reports

AutoZone (AZO):  Reported EPS of $3.34 beating estimates by +$0.28.

Domino's Pizza (DPZ): Reported EPS of $0.40 in-line with estimates.

Fortress Investment (FIG): Reported EPS of $0.24 beating estimates by +$0.09.

Fresh Del Monte (FDP): Reported EPS $0.07 missing estimates by -$0.04.

·         Futures at 7:00: Dow +0.4%. S&P +0.4%. Nasdaq +0.6%. Crude +0.1% to $97.08. Gold +0.6% to $1418.70.

·         Europe: London 0.0%. Paris +0.3%. Frankfurt +0.5%.

·         Asia: Japan +1.2% to 10754. Hong Kong +0.3% to 23396. China +0.5% to 2920. India +3.4% to 18447.