MORNING COFFEE

Auto Sales Jump. Sales of autos in the U.S. jumped another +11% in January to a four-year high of 14.18 million vehicles per year. Chrysler (FIATY) +44%, GM's (GM) -6.1%, Ford (F) +7.3%, Honda (HMC) +8.8%, Toyota (TM) +7.5%,

Google’s Mobile Search Doubles. Google's (GOOG) announced that their mobile search ads more than doubled in Dec. 2011 from the year-ago period.  Google dominants the mobile ad market, which estimates say could reach $5.8 billion in sales this year, and $17.4 billion by 2015.

Upgrades

Big Lots (BIG): MKM Partners raised their rating from Neutral to Buy.

Dell (DELL): JP Morgan raised their rating from Underweight to Overweight and raised their target price from $17.50 to $21.00.

Downgrades

Northrop Grumman (NOC): Bank of America lowered their rating from Neutral to Underperform and lowered their target price from $65.00 to $56.00.

Coverage Initiated

Marvell (MRVL): Canaccord Genuity initiated coverage with a Buy rating and target price of $20.00.

Broadcom (BRCM): Canaccord Genuity initiated coverage with a Buy rating and target price of $45.00.

Coverage Reiterated/Price Target Changed

Coinstar (CSTR): Canaccord Genuity reiterated their Hold rating and raised their target price from $52.00 to $54.00.

Earning Reports

Dow Chemical (DOW): Reported EPS of $0.25 missing estimates by -$0.05.

Kellogg (K): Reported EPS of $0.64 beating estimates by +$0.01.

MasterCard (MA): Reported EPS of $4.03 beating estimates by +$0.10.

National Oilwell (NOV): Reported EPS of $1.37 beating estimates by +$0.07.

Old Dominion (ODFL): Reported EPS of $0.69 beating estimates by +$0.12.

Ryder Systems (R): Reported EPS of $0.97 in-line with estimates.

Markets:

Futures at 8:15: Dow -0.04% Nasdaq -0.04% S&P -0.04%. Crude -0.78% to $96.85. Gold +0.03% to $1750.05

 Europe: London -0.1%. Paris +0.04%. Frankfurt +0.2%.

Asia: Japan +0.8%. Hong Kong +2%. China +2%. India +0.8%.