MORNING COFFEE

Ford Post Great Earnings. Ford (F) is on a roll as the company posted a great earnings report. In fact it was the best Q1 report in 13 years.  Ford reported Q1 earnings of $0.62 up 24% from year ago earnings of only $0.50.   Revenues at the company rose 18% to $33.1 billion.  The company also reported that they had decreased their debt levels by $2.5 billion brining their debt to $16.6 billion. Pre-market: 15.94 +0.40 (2.57%)

Upgrades

Netflix (NFLX): Maxim Group raised their rating from Sell to Hold.

Downgrades

Altria (MO): Argus lowered their rating from Buy to Hold.

Peet's Coffee (PEET): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $53.00 to $48.00.

Coverage Initiated

Allscripts-Misys Healthcare (MDRX): Oppenheimer initiated coverage with a Outperform rating and placed a target price of $25.00 on the company.

Coverage Reiterated/Price Target Changed

Netflix (NFLX): Oppenheimer reiterated their Outperform rating and raised their target price from $230.00 to$280.00.

Viacom (VIA.B): Wunderlich reiterated their Buy rating and raised their target price from $52.00 to$56.00.

Earning Reports

Coach (COH): Reported FQ3 EPS of $0.62 beating estimates by +$0.02 on revenue of $951 million, beating estimates by $4 million. Pre-market: 56.50 -0.58 (-1.02%)

Express Scripts (ESRX): Reported Q1 EPS of $0.66 missing estimates by -$0.03 on revenue of $11.09 billion, missing estimates by -$0.46 billion. Pre-market: 53.70 -1.67 (-3.02%)

Ford (F): Reported Q1 EPS of $0.62 beating estimates by +$0.12 on revenue of $33.1 billion, beating estimates by +$3.41 billion. Pre-market: 15.94 +0.40 (2.57%)

Masco (MAS): Reported Q1 EPS of -$0.05 missing estimates by -$0.08 on revenue of $1.77 billion, beating estimates by +$0.02 billion. Pre-market: 13.00 -0.38 (-2.84%)

Netflix (NFLX): Reported Q1 EPS of $1.11 beating estimates by +$0.03 on revenue of $719 million, beating estimates by +$16 million. Pre-market: 239.81 -11.86 (-4.71%)

Office Depot (ODP): Reported Q1 EPS of -$0.05 missing estimates by -$0.07 on revenue of $2.97 billion, in-line with estimates. Pre-market: 4.06 -0.08 (-1.93%)

Plum Creek Timber (PCL): Reported Q1 EPS of $0.23 missing estimates by -$0.01 on revenue of $275 million, beating estimates by +$20 million. Pre-market: 42.89 0.00 (0.00%)

·         Futures at 7:00: Dow +0.2%. S&P +0.4%. Nasdaq +0.3%. Crude -0.3% to $111.99. Gold -0.3% to $1504.50.

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

·         Asia: Japan -1.2% to 9559. Hong Kong -0.5% to 24007. China -0.9% to 2939. India -0.2% to 19545.