MORNING COFFEE

Buffett Signs Deal With Bombardier. NetJets which is owned by Warren Buffett’s company Berkshire Hathaway (BRK.A/BRK.B) signed a deal with Bombardier (BDRAF) to purchase as many as 120 aircrafts from the company.  This is Bombardier's largest business aircraft sale to date, and could earn more than $6.7 billion if all the options are exercised.

Upgrades

Chipotle Mexican Grill (CMG): Morgan Keegan raised their rating from Underperform to Market Perform.

BTU International (BTUI): Wunderlich raised their rating from Hold to Buy and raised their target price from $13.00 to $16.00.

Earning Reports

BJ's Wholesale Club (BJ): Reported Q4 EPS of $0.95 beating estimates by +$0.03 on revenue of $2.9 billion, missing estimates by -$0.07 billion.

Costco (COST): Report FQ2 EPS of $0.79 in-line on revenue of $20.88 billion, beating estimates by +$0.34 billion.

Joy Global (JOYG): Reported Q4 EPS of $0.96 missing estimates by -$0.11 on revenue of $870 million, missing estimates by -$11.1 million.

Staples (SPLS): Reported Q4 EPS of $0.39 missing estimates by -$0.01 on revenue of $6.42 billion, missing estimates by -$0.05 billion.

MBIA (MBI): Reported Q4 EPS of $2.24 beating estimates by +$2.51.

TiVo (TIVO): Reported Q4 EPS of -$0.30 missing estimates by -$0.02 on revenue of $41.4 million, in-line.

·         Futures at 7:00: Dow +0.2%. S&P +0.2%. Nasdaq +0.25%. Crude +0.3% to $99.95. Gold +0.2% to $1433.60.

·         Europe: London -0.5%. Paris -0.7%. Frankfurt -0.7%.

·         Asia: Japan -2.4% to 10492. Hong Kong -1.5% to 23049. China -0.2% to 2914. India closed.