MORNING COFFEE

Upgrades

Google (GOOG): Evercore Partners raised their rating from Equal Weight to Overweight.

Downgrades

KB Homes (KBH): Keefe Bruyette lowered their rating from Market Perform to Underperform and lowered their target price from $13.00 to $9.00.

General Mills (GIS): Credit Suisse  lowered their rating from Outperform to Neutral and placed a target price of $40.00 on the company.

Telefonica (TEF): Nomura lowered their rating from Neutral to Reduce.

Coverage Reiterated/Price Target Changed

Darden Restaurants (DRI): RBC Capital Markets reiterated their Outperform rating and raised their target price from $57.00 to $59.00.

Nike (NKE): FBR Capital reiterated their Outperform rating and raised their target price from $91.00 to $97.00.

Goldman Sachs (GS): FBR Capital reiterated their Outperform rating and lowered their target price from $190.00 to $170.00.

Qualcomm (QCOM): Sterne Agee reiterated their Buy rating and raised their target price from $62.00 to $65.00.

Check Point Software (CHKP): reiterated their Outperform rating and raised their target price from $60.00 to $63.00.

·         Futures at 7:00: Dow +0.25%. S&P +0.1%. Nasdaq +0.4%. Crude+0.7% to $95.58. Gold +1.3% to $1502.40.

·         Europe: London +0.2%. Paris -0.3%. Frankfurt +0.3%

·         Asia: Japan +0.1% to 9972. Hong Kong -0.1% to 22748. China+0.1% to 2816. India -0.4% to 18745.