MORNING COFFEE

Berkshire To Buy Lubrizol. Warren Buffett’s Berkshire Hathaway (BRKA/BRKB) announced it would buy Lubrizol (LZ), for $135 per share which is a 28% premium to Lubrizol's close.  The $9 billion deal also includes around $700M in net debt.

AT&T To Limit Internet Usage. AT&T (T) Announced over the weekend that it will begin to cap data usage for its internet customers, charge people for going over the limit.  Customers who use more than a monthly limit of 150 gigabytes of data in three separate months will be charged $10 for every extra 50 gigabytes of data they use.  The new data limits are scheduled to go into effect on May 2.

Upgrades

Amer States Water (AWR): Brean Murray raised their rating from Hold to Buy and a target price of $39.00.

Cerner (CERN): Auriga U.S.A raised their rating from Hold to Buy and raised their target price from $105.00 to $121.00.

Cintas (CTAS): Robert W. Baird raised their rating from Neutral to Outperform and raised their target price from $105.00 to $121.00.

Downgrades

Noble Corp (NE): FBR Capital lowered their rating from Outperform to Market Perform and placed a target price of $48.00 on the company.

Coverage Reiterated/Price Target Changed

Cephalon (CEPH): Collins Stewart their Hold rating and lowered their target price from $70.00 to $60.00.

Earning Reports

Gulfport Energy (GPOR): Reported EPS of $0.32 beating estimates by +$0.03.

·         Futures at 7:00: Dow -0.4%. S&P -0.4%. Nasdaq -0.7%. Crude -2.1% to $99.03. Gold +0.1% to $1423.30.

·         Europe: London -0.1%. Paris -0.3%. Frankfurt -0.7%.

·         In Asia, Japan -6.2% to 9620. Hong Kong +0.4% to 23346. China+0.2% to 2939. India +1.5% to 18439.