MORNING COFFEE

Internet Companies Fighting Back.  Many tech giants have voiced their opposed to the Stop Online Piracy Act [SOPA] which they believe will hurt the internet and individuals access to information.  They are so opposed to it they are talking about a "nuclear option" whereby Amazon (AMZN), eBay (EBAY) , Google (GOOG), Yahoo (YHOO) and others would simultaneously go dark to protest the legislation. Senate Majority Leader Harry Reid (D) is pushing for the approval of the act which is scheduled for debate on January 24.  If the companies go dark it’s expected they would do it on January 23 the day before debate is to begin. Other companies that have voiced their opposition include: AOL (AOL), Etsy, Facebook, foursquare, IAC (IACI), LinkedIn (LNKD), Mozilla, OpenDNS, PayPal, Twitter, Wikimedia Foundation, and Zynga Game Network (ZNGA)   

Kodak May Be Delisted. The NYSE has informed Eastman Kodak (EK) that they have six months to fall back into compliance or risk de-listing since the stock has traded below $1 for the last 30 trading days. To be in compliance, Kodak's shares have to trade at $1 on the closing day six months from now, and have a average price of $1 over the 30 days leading up to the close. Pre-market: 0.630 -0.025 (-3.74%)

Upgrades

American Eagle (AEO): Janney Montgomery Scott raised their rating from Neutral to Buy and placed a target price of $20.00 on the company. Pre-market: 15.79 +0.07 (0.45%)

Downgrades

SAP AG (SAP): Ticonderoga lowered their rating from Neutral to Sell and placed a target price of $46.00 on the company. Pre-market: 54.48 +0.05 (0.09%)

Union Pacific (UNP): Stifel Nicolaus lowered their rating from Buy to Hold. Pre-market: 106.93 -1.07 (-0.99%)

Lockheed Martin (LMT): JP Morgan lowered their rating from Overweight to Neutral and lowered their target price from $80.00 to $74.00. Pre-market: 81.12 -0.90 (-1.10%)

Church & Dwight (CHD): BMO Capital lowered their rating from Outperform to Market Perform and lowered their target price from $51.00 to $48.00. Pre-market: 45.00 -0.40 (-0.88%)

Mosaic (MOS): Citigroup lowered their rating from Buy to Neutral and lowered their target price from $60.00 to $57.00. Pre-market: 52.09 -0.50 (-0.95%)

Coverage Initiated

Ford (F): Guggenheim initiated coverage with a Neutral rating and target price of $11.60. Pre-market: 11.11 -0.02 (-0.18%)

General Motors (GM):  Guggenheim initiated coverage with a Neutral rating and target price of $20.06. Pre-market: 21.00 -0.05 (-0.24%)

Intel (INTC): Roth Capital initiated coverage with a Neutral rating and target price of $25.00. Pre-market: 24.45 -0.09 (-0.37%)

Groupon (GRPN): Collins Stewart initiated coverage with a Neutral rating and target price of $19.00. Pre-market: 19.18 -0.09 (-0.47%)

Markets: 
Futures at 8:12: Dow -0.30%. S&P -0.28%. Nasdaq -0.09%. Crude -0.61% to $102.22. Gold +0.03% at $1600.80. 

Europe: London -0.22%. Paris -1.05%. Frankfurt -0.90%. 

Asia: Japan +1.24% to 8560. Hong Kong -0.80% to 18727. China -1.37% to 2169. India -0.36% to 15883.