MORNING COFFEE

Bank of America to Pay Another Large Settlement. Troubled bank BofA (BAC) will have to pay out yet another settlement, this time for excessive overdraft fees. The amount to be paid will be $410 million.  Some tried to challenge the ridiculous plaintiffs' lawyer fees of roughly 30% or $123 million saying they were excessive. Pre-market: 6.56 +0.11 (1.71%)

Upgrades

Honeywell (HON): Citigroup raised their rating from Neutral to Buy and raised their target price from $55.00 to $65.00. Pre-market: 54.84 +0.88 (1.63%)

Emerson Electric (EMR): Citigroup raised their rating from Neutral to Buy and raised their target price from $50.00 to $60.00. Pre-market: 51.40 +0.51 (1.00%)

Dean Foods (DF): Stephens raised their rating from Equal Weight to Overweight and raised their target price from $11.00 to $13.00.

Cisco Systems (CSCO): Mizuho raised their rating from Neutral to Buy. Pre-market: 18.17 +0.16 (0.89%)

Downgrades

Sanofi-Aventis (SNY): Collins Stewart lowered their rating from Hold to Sell. Pre-market: 34.36 +0.47 (1.39%)

Coverage Initiated

Groupon (GRPN): Hudson Square initiated coverage with a Buy rating and target price of $35.00. Pre-market: 26.15 +0.18 (0.69%)

Fifth Third Bank (FITB): UBS initiated coverage with a Buy rating and target price of $15.00. Pre-market: 12.45 +0.20 (1.63%)

Teva Pharmacuticals (TEVA): Credit Suisse initiated coverage with an Outperform rating and target price of $53.00. Pre-market: 42.00 +0.28 (0.67%)

Earning Reports

Fossil (FOSL): Reported EPS of $1.09 beating estimates by +$0.06. Pre-market: 90.94 -6.26 (-6.44%)

International Flavors (IFF): Reported EPS of $1.00 missing estimates by -$0.04.

Priceline.com (PCLN): Reported EPS of $9.95 beating estimates by +$0.66. Pre-market: 520.00 +11.00 (2.16%)

Markets: 
Futures at 7:45: Dow +0.65%. S&P +0.62%. Nasdaq +0.64%. Crude +0.70% to $96.20. Gold -0.20% at $1787.50. 

Europe: London +1.64%. Paris +2.20%. Frankfurt +2.16%. 

Asia: Japan -1.27% to 8855. Hong Kong 0.0% to 19678. China -0.24% to 2503. India +0.04% to 17569.