MORNING COFFEE

Berkshire Hathaway’s Q2 Trades. Warren Buffett’s Berkshire Hathaway released their latest 13-F filing which showed that the world’s most famous investor placed several trades last quarter. Berkshire Hathaway added two new companies to their investment portfolio, Verisk Analytics (VRSK) and Dollar General (DG).  Buffett also increased his holdings in Mastercard (MA) and Wells Fargo (WFC), but reduced his position in Kraft (KFT). DG Pre-market: 32.99 +0.80 (2.49%) MA Pre-market: 333.00 -2.00 (-0.60%) WFC Pre-market: 24.76 -0.26 (-1.04%) KFT Pre-market: 34.54 -0.14 (-0.40%)

EU Economy Stalls. The Eurozones latest quarterly GDP growth fell more than expected to 0.2%. This was the slowest growth reported since the end of the recession in 2009. Economist are particularly concerned about German economy which stalled at +0.1%, down from 1.3% in Q1. This comes just after Frances Q2 GDP also missed estimates and showed a stalling economy.

Upgrades

Toll Brothers (TOL): Stifel Nicolaus raised their rating from Sell to Hold. Pre-market: 16.82 -0.01 (-0.06%)   

Sprint Nextel (S): Collins Stewart raised their rating from Neutral to Buy and placed a target price of $5.00 on the company. Pre-market: 3.43 -0.05 (-1.44%)

Unilever (UN/UL): Exane BNP raised their rating from Underperform to Outperform.UN Pre-market: 33.06 -0.10 (-0.30%) UL Pre-market: 33.38 -0.23 (-0.68%)

Downgrades

Albemarle (ALB): Oppenheimer lowered their rating from Perform to Underperform. Pre-market: 58.50 -0.95 (-1.60%)

Nestle SA (NSRGY): BNP Paribas lowered their rating from Outperform to Underperform. Pre-market: 63.33 +0.51 (0.82%)

Research In Motion (RIMM): Societe Generale lowered their rating from Hold to Sell and placed a target price of $20.00 on the company. Pre-market: 26.56 -0.55 (-2.03%)

Coverage Initiated

SAP AG (SAP): Morgan Keegan initiated coverage with a Market Perform rating and target price of $50.00. Pre-market: 53.11 -0.65 (-1.21%)

Coverage Resumed

Oracle (ORCL): Morgan Keegan resumed coverage with an Outperform rating and target price of $33.00. Pre-market: 27.35 -0.29 (-1.05%)

Salesforce.com (CRM): Morgan Keegan resumed coverage with an Outperform rating and target price of $165.00. Pre-market: 136.20 -1.17 (-0.85%)

Coverage Reiterated/Price Target Changed

National Oilwell Varco (NOV): Morgan Keegan reiterated their Outperform rating and lowered their target price from $100.00 to $84.00. Pre-market: 69.20 -1.09 (-1.55%)

ENSCO (ESV): Morgan Keegan reiterated their Outperform rating and lowered their target price from $64.00 to $59.00. Pre-market: 46.70 -0.82 (-1.73%)

Teleflex (TFX): Morgan Keegan reiterated their Market Perform rating and lowered their target price from $65.00 to $58.00. Pre-market: 52.45 -0.29 (-0.55%)

Becton Dickinson (BDX): Morgan Keegan reiterated their Market Perform rating and lowered their target price from $90.00 to $86.00.

Earning Reports

Dick's Sporting Goods (DKS): Reported EPS of $0.52 beating estimates by +$0.02. Pre-market: 30.50 -2.42 (-7.35%)

Home Depot (HD): Reported EPS of $0.86 beating estimates by +$0.04. Pre-market: 32.83 +1.37 (4.35%)

Wal-Mart (WMT): Reported EPS of $1.09 beating estimates by +$0.01. Pre-market: 51.12 +1.14 (2.28%)

Markets

Futures at 9:09: Dow -0.87%. S&P -1.16%. Nasdaq -1.03%. Crude -2.54% to $86.67. Gold +1.25% to $1780.40.

Europe: London -0.70%. Paris -1.56%. Frankfurt -2.20%.

Asia: Japan +0.23% to 9107. Hong Kong -0.24% to 20212. China -0.71% to 2608. India -0.65% to 16731.