MORNING COFFEE

Bank of America to Charge More Fees Again. It looks like Bank of America (BAC) is at it again, trying to stick it customers with more fees.  Reports are that the bank is working on plans to charge customers with monthly charges unless they agree to bank online, buy more products or maintain higher balances. Pre-market: 8.08 +0.12 (1.44%)

Dallas Fed Says Break Up Banks. After a speech about Mexico’s economic reforms Dallas Fed President Richard Fisher said that five biggest U.S. banks are too powerful and should be broken up.  Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JP Morgan (JPM) and Morgan Stanley (MS) have "a higher concentration of deposits than they did before the crisis... perversely, these banks are now even bigger, they are too 'bigger' to fail than before."

Downgrades

Wendy’s (WEN): Janney Capital lowered their rating from Buy to Neutral and placed a target price of $5.50 on the company. Pre-market: 5.12 +0.05 (0.99%)

Aqua America (WTR): Hilliard Lyons lowered their rating from Lon-Term Buy to Buy.

Coverage Initiated

BlackRock (BLK): Bernstein initiated coverage with a Market Perform rating and target price of $205.00. Pre-market: 199.00 0.00 (0.00%)

Liz Claiborne (LIZ): Wedbush initiated coverage with an Outperform rating and target price of $12.00. Pre-market: 10.22 +0.44 (4.50%)

T. Rowe Price Group (TROW): Bernstein initiated coverage with a Market Perform rating and target price of $64.00. Pre-market: 61.59 0.00 (0.00%)

Earning Reports

James River Coal (JRCC): Reported EPS of -$0.05 missing estimates by -$0.09. Pre-market: 6.26 +0.53 (9.25%)

Kenneth Cole (KCP): Reported EPS of $0.43 beating estimates by +$0.15. Pre-market: 16.45 +0.76 (4.84%)

Kroger (KR): Reported EPS of $0.50 beating estimates by +$0.01. Pre-market: 24.62 +0.83 (3.49%)

Toronto-Dominion Bank (TD): Reported EPS of $1.86 beating estimates by +$0.09. Pre-market: 82.99 +1.47 (1.80%)

Wendy’s (WEN): Reported EPS of $0.04 beating estimates by +$0.02. Pre-market: 5.12 +0.05 (0.99%)

Markets: 
Futures at 8:42: Dow +0.27%. S&P +0.26%. Nasdaq +0.38%. Crude +0.25% to $107.33. Gold -0.27% to $1706.70. 

Europe: London +0.76%. Paris +0.99%. Frankfurt +0.86%. 

Asia: Japan -0.16% to 9707. Hong Kong -1.35% to 21388. China -0.10% to 2426. India -0.95% to 17584.