MORNING COFFEE

Intel Unveils Ultrabook.  At this year Computex in Taiwan, Intel (INTC) unveiled what it is calling an Ultrabook.  The ultra-thin, power efficient device combines the power of a laptop with the features and styling of a tablet computer.  Intel’s goal is to take market share from Apple’s (AAPL) iPad by producing a device that can do more than what current tablet computers can.  The Ultrabook is expected to be released in the 4th quarter and cost under $1,000. 

Upgrades

Big Lots (BIG): ThinkEquity raised their rating from Hold to Buy and raised their target price from $35.00 to $38.00.

Broadcom (BRCM): BMO Capital raised their rating from Market Perform to Outperform and placed a target price of $50.00 o the company.

eBay (EBAY): ThinkEquity raised their rating from Hold to Buy and raised their target price from $36.00 to $38.00.

Goldman Sachs (GS): JPMorgan raised their rating from Neutral to Overweight and placed a target price of $175.00 on the company.

Downgrades

Medtronic (MDT): Argus lowered their rating from Hold to Sell.

Coverage Initiated

Alcoa (AA): First Global initiated coverage with a Market Perform rating.

Coverage Resumed

NVIDIA (NVDA): Auriga resumed coverage with a Buy rating and target price of $24.00.

Coverage Reiterated/Price Target Changed

Medco Health Solutions (MHS): FBR Capital reiterated their Outperform rating and lowered their target price from $75.00 to $71.00.

NetLogic (NETL): Stifel Nicolaus reiterated their Buy rating and raised their target price from $47.00 to $49.00.

·         Futures at 7:00: Dow +0.9%. S&P +0.9%. Nasdaq +1.0%. Crude +1.9% to $102.48. Gold +0.1% to $1538.00.

·         Europe: London +1.0%. Paris +1.5%. Frankfurt +1.9%.

·         Asia: Japan +2.0% to 9694. Hong Kong +2.2% to 23684. China +1.4% to 2744. India +1.5% to 18503.