MORNING COFFEE

PC’s Could Be A Think Of The Past. 

According to the research firm Gartner Consulting the huge growth of tablets is eroding PC sales, which makes Apple’s CEO Steve Jobs claim of a “post-PC” device era more likely.  PC shipments are expected to grow 10.5% this year to 387.8 million units, down from earlier estimates for 15.9% growth. The largest declines will occur in consumer laptops. Shipments are expected to increase 14.6% in 2011 instead of prior projected 25.1% increase.  Analysts now project that Tablet sales could reach 40 million this year.  According to Gartner Tablets are “obviously one of the biggest challenges the PC has ever faced."

Upgrades

Intel (INTC): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $25.00 to $27.00.

Altera (ALTR): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $38.00 to $53.00.

Coverage Reiterated/Price Target Changed

Viacom (VIA.B): The Benchmark Company reiterated their Hold rating and raised their target price from $43.00 to $50.00.

Marvell (MRVL): FBR Capital reiterated their Outperform rating and lowered their target price from $25.00 to $23.00.

Earning Reports

Marvell Technology Group (MRVL): Reported Q4 EPS of $0.40 missing estimates by -$0.02 on revenue of $901 million, missing estimates by -$24 million.

Novell (NOVL): Reported FQ1 EPS of $0.07 in-line on revenue of $191 million, missing estimates by -$8 million.

·         Futures at 7:00: Dow +0.2%. S&P 0.0%. Nasdaq 0.0%. Crude +0.6% to $102.54. Gold +0.1% to $1418.20.

·         Europe: London +0.5%. Paris +0.2%. Frankfurt +0.6%.

·         Asia: Japan +1.0% to 10694. Hong Kong +1.2% to 23409. China +1.4% to 2942. India 0.0% at 18486.