MORNING COFFEE

Apple Overtakes Google As Most Valuable Brand. 

Millward Brown Optimor, a WPP company has completed its sixth annual BrandZ Top 100 Most Valuable Global Brands study.  The study found that Apple’s brand increased in value 84% to overtake Google as the world’s most valuable brand.   Google had held the top position for the last four years in a row. Millward Brown Optimor calculated that Apple’s brand is now worth $153.3 billion versus Google’s $111.5 billion.  The study also found that company brands from the BRIC counties, which include Brazil, Russia, India and China continue to become more valuable.  BRICs now make up 19 of the Top 100 brands, versus only two in 2006.
1) Apple (AAPL)

2) Google (GOOG)

3) IBM (IBM)

4) McDonald’s (MCD)

5) Microsoft (MSFT)

6) Coca-Cola (KO)

7) AT&T (T)

8) Marlboro (PM)

9) China Mobile (CHL)

10) General Electric (GE)

Home Values Continue Fall. 

According to a new report from Zillow.com home prices fell another 3% in the first quarter, making it the largest decline since the fourth quarter 2008.  One out of every 1,000 homes is in foreclosure and 28.4% of homes in the U.S have negative equity.  Negative equity is now at a new high.

Upgrades

Southwest Air (LUV): Dahlman Rose raised their rating from Hold to Buy and placed a target price of $15.00 on the company. Pre-market: 12.17 +0.06 (0.50%)

Coverage Reiterated/Price Target Changed

Medtronic (MDT): Oppenheimer reiterated their Outperform rating and raised their target price from $42.00 to $48.00. Pre-market: 42.70 +0.01 (0.02%)

Aqua America (WTR): Brean Murray reiterated their Buy rating and raised their target price from $26.00 to $29.00.

Earning Reports

AES (AES): Reported Q1 EPS of $0.22 missing estimates by -$0.04 on revenue of $4.26 billion.

Quicksilver Resources (KWK): Reported Q1 EPS of $0.02 beating estimates by +$0.01 on revenue of $212 million, beating estimates by +$18 million.

·           Futures at 7:00: Dow +0.4%. S&P +0.4%. Nasdaq +0.6%. Crude+2.9% to $99.98. Gold +1.1% to $1507.70.

·         Europe: London -0.6%. Paris -0.9%. Frankfurt -1.0%.

·         Asia: Japan -0.7% to 9794. Hong Kong +0.8% to 23336. China +0.3% to 2873. India +0.1% to 18529.