MORNING COFFEE

Disney Reports Great Quarter. After the close yesterday Walt Disney's (DIS) reported that their full-year net profit climbed 21% to a record $4.8 billion. Disney beat FQ4 estimates as EPS grew 34% to $0.58 and revenue rose 7% to $10.4 billion. Additionally on the conference call CEO Rober Iger said the company’s investment in Russia, China and India would position the company for further growth. Pre-market: 36.08 +1.44 (4.16%)

Downgrades

Zimmer Holdings (ZMH): Argus lowered their rating from Buy to Hold.

PepsiCo (PEP): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $64.00 on the company. Pre-market: 63.05 +0.09 (0.14%)

Abercrombie & Fitch (ANF): Nomura Capital lowered their rating from Buy to Neutral and placed a target price of $60.00 on the company. Pre-market: 55.40 -0.06 (-0.11%)

ConAgra Foods (CAG): UBS lowered their rating from Buy to Neutral and lowered their target price from $28.00 to $26.00. Pre-market: 25.14 -0.19 (-0.75%)

Coverage Initiated

eBay (EBAY): Nomura initiated coverage with a Neutral rating and target price of $31.00. Pre-market: 31.00 +0.25 (0.81%)

Amazon.com (AMZN): Nomura initiated coverage with a Neutral rating and target price of $220.00. Pre-market: 212.17 +1.38 (0.65%)

International Game Tech. (IGT): Nomura initiated coverage with a Neutral rating and target price of $20.00.

Coverage Resumed

ITT Industries (ITT): Needham resumed coverage with a Buy rating and target price of $24.00. Pre-market: 19.44 +0.07 (0.36%)

Earning Reports

Molycorp (MCP): Reported EPS of $0.67 missing estimates by -$0.01. Pre-market: 36.14 -2.56 (-6.61%)

NVIDIA (NVDA): Reported EPS of $0.29 beating estimates by +0.03. Pre-market: 14.75 +0.28 (1.94%)

Walt Disney (DIS): Reported EPS of $0.59 beating estimates by +$0.05. Pre-market: 36.08 +1.44 (4.16%)

Dillards (DDS): Reported EPS of $0.50 beating estimates by +0.18. Pre-market: 52.30 -2.87 (-5.20%)

DR Horton (DHI): Reported EPS of $0.11 missing estimates by -$0.03. Pre-market: 11.54 -0.12 (-1.03%)

Markets: 
Futures at 8:15: Dow +0.85%. S&P +0.97%. Nasdaq +1.07%. Crude +0.64% to $98.42. Gold +0.78% to $1773.30. 

Europe: London +0.94%. Paris +1.29%. Frankfurt +1.84%. 

Asia: Japan +0.16% to 8514.47. Hong Kong +0.91% to 19137.28. China +0.06% to 2481.08. India -0.97% to 17192.82.