MORNING COFFEE

Google Gets Big Enterprise Deal. Google’s (GOOG) deal with Spain's BBVA will be the company’s largest enterprise contract ever.  BBVA will begin to use Google Apps for its 110,000 employees spread across the globe. Analysts are calling the deal an "important" first step in helping Google acquire more large contracts. After Hours: 623.10 -0.04 (-0.01%)

Sanofi Goes Shopping. CEO Chris Viehbacher  announced that Sanofi (SNY) is planning "bolt-on" acquisitions of up to €2B ($2.6B) this year. In a statement Mr. Viehbacher has said "All we want to do is continue to look for opportunities, particularly in emerging markets." Pre-market: 35.97 -0.29 (-0.80%)

Upgrades

DirecTV (DTV): Bernstein raised their rating from Market Perform to Outperform and raised their target price from $48.00 to $52.00.

General Motors (GM): Piper Jaffray raised their rating from Neutral to Overweight and raised their target price from $24.50 to $31.00. Pre-market: 23.37 +0.13 (0.56%)

Downgrades

T. Rowe Price (TROW): Ticonderoga lowered their rating from Buy to Neutral.

Urban Outfitters (UBRN): Robert W. Baird lowered their rating from Outperform to Neutral and lowered their target price from $34.00 to $28.00. Pre-market: 24.50 -4.91 (-16.70%)

MasterCard (MA): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $400.00 to $380.00. Pre-market: 342.00 -6.83 (-1.96%)

Accenture (ACN): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $62.00 to $57.00. Pre-market: 52.50 -0.13 (-0.25%)

Coca-Cola (KO): UBS lowered their rating from Buy to Neutral and lowered their target price from $73.00 to $70.00. Pre-market: 68.70 -0.64 (-0.92%)

PepsiCo (PEP): UBS lowered their rating from Buy to Neutral and lowered their target price from $72.00 to $64.00. Pre-market: 65.01 -0.65 (-0.99%)

Emerson Electric (EMR): Goldman Sachs lowered their rating from Buy to Neutral and lowered their target price from $54.00 to $51.00. Pre-market: 48.00 -0.70 (-1.44%)

Coverage Initiated

Noble Energy (NBL): Stifel Nicolaus initiated coverage with a Hold rating. After Hours: 98.58 -0.15 (-0.15%)

Earning Reports

Lennar (LEN): Reported EPS of $0.16 missing estimates by -$0.01. Pre-market: 20.40 -0.36 (-1.73%)

Markets: 
Futures at 7:07: Dow -0.41%. S&P -0.35%. Nasdaq -0.29%. Crude -0.68% to $101.54. Gold +0.44 to $1638.60. 

Europe: London -0.71%. Paris -0.57%. Frankfurt -0.63%. 

Asia: Japan +0.30% to 8448. Hong Kong +0.78% to 19152. China -0.42% to 2276. India +0.07% to 16176.