MORNING COFFEE

Buffett Has Cancer. Warren Buffett the famous investor and CEO of Berkshire Hathaway, announced that he has been diagnosed with Stage I prostate cancer. In a statement he said he will continue to run Berkshire Hathaway (BRK.A/BRK.B) adding that it is "not remotely life-threatening or even debilitating in any meaningful way." BRK.B Pre-market: 79.91 -0.85 (-1.05%)

Upgrades

Deckers Outdoor (DECK): Sterne Agee raised their rating from Underperform to Neutral. Pre-market: 66.51 +1.51 (2.32%)

ING Group (ING): Citigroup raised their rating from Neutral to Buy. Pre-market: 7.24 -0.09 (-1.23%)

American International Group (AIG): William Blair raised their rating from Market Perform to Outperform. Pre-market: 33.25 +0.53 (1.62%)

Downgrades

IBM (IBM): Macquarie lowered their rating from Buy to Neutral. Pre-market: 202.77 -4.68 (-2.26%)

First Solar (FSLR): Wunderlich lowered their rating from Hold to Sell and lowered their target price from $38.00 to $14.00. Pre-market: 22.50 -0.46 (-2.00%)

Cree (CREE): ThinkEquity lowered their rating from Buy to Hold and placed a target price of $30.00 on the company. Pre-market: 29.40 -2.50 (-7.84%)

Earning Reports

Cree (CREE): Reported EPS of $0.20 missing estimates by -$0.01. Pre-market: 29.40 -2.50 (-7.84%)

CSX (CSX): Reported EPS of $0.43 beating estimates by +$0.05. Pre-market: 23.16 +0.72 (3.21%)

IBM (IBM): Reported EPS of $2.78 beating estimates by +$0.15. Pre-market: 202.55 -4.90 (-2.36%)

Intel (INTC): Reported EPS of $0.56 beating estimates by +$0.03. Pre-market: 27.57 -0.90 (-3.16%)

Yahoo! (YHOO): Reported EPS of $0.23 beating estimates by +$0.06. Pre-market: 15.59 +0.58 (3.86%)

BlackRock (BLK): Reported EPS of $3.16 beating estimates by +$0.14.

Halliburton (HAL): Reported EPS of $0.89 beating estimates by +$0.03. Pre-market: 33.24 +0.58 (1.78%)

Polaris Inds (PII): Reported EPS of $0.85 beating estimates by +$0.08. Pre-market: 76.95 +3.82 (5.22%)

Markets: 
Futures at 7:36: Dow -0.28%. S&P -0.36%. Nasdaq -0.33%. Crude -0.13% at $104.06. Gold -0.45% to $1643.60. 

Europe: London -0.40%. Paris -1.66%. Frankfurt -0.96%. 

Asia: Japan +2.14%. Hong Kong +1.06%. China +1.96%. India +0.20%.