MORNING COFFEE

Netflix Abandons Plans For Qwikster. Netflix (NFLX) in a surprise move announced they were abandoning a plan they announced just one month ago that would have split the company into two. The original plan would have had Netflix keeping the online service and Quikster taking the DVD-by-mail model.  Now the company will keep its DVD-by-mail and online streaming services together under one name and one Web site. Netflix customers had been upset with the plan to split the company into two at a time when they were already upset with the announcement that the company would start charging $16 a month for both its streaming service and its DVD service. Previously, DVDs-by-mail were an additional $2 charge to the $8 streaming service. 

Upgrades

Celgene (CELG):RBC Capital raised their rating from Sector Perform to Outperform and raised their target price from $66.00 to $75.00.

Potash (POT): Ticonderoga raised their rating from Neutral to Buy and placed a target price of $62.00 on the company.

Downgrades

Quest Diagnostics (DGX): Maxim Group lowered their rating from Buy to Hold.

Accenture (ACN): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $64.00 to $62.00.

Coverage Reiterated/Price Target Changed

Wells Fargo (WFC): Oppenheimer reiterated their Outperform rating and lowered their target price from $32.00 to $31.00.

JP Morgan Chase (JPM): Oppenheimer reiterated their Outperform rating and lowered their target price from $50.00 to $48.00.

Citigroup (C): Oppenheimer reiterated their Outperform rating and lowered their target price from $45.00 to $43.00.

Markets: 
Futures at 7:00: Dow +1.1%. S&P 0.0%. Nasdaq +1.2%. Crude +2.0% to $84.65. Gold +1.9% to $1666.60.

Europe: London +0.9%. Paris +0.9%. Frankfurt +0.3%. 

Asia: Japan closed. Hong Kong 0.0%. China -0.6%. India +2.0%.