If you are trying to cut up it's important to incorporate some cardio-vascular exercise into your regimen. The best time to do this is on another day or at a different time of day to when you train with weights, so many choose to hop on the bike or treadmill first thing in the morning. But what about optimal nutrition around this time?
It is rightly said that, in order to maximise fat loss, CV should be done on an empty stomach. But we are bodybuilders so we want to maintain/build muscle at the same time as losing fat. Remember that insulin levels are naturally highest first thing in the morning and this hormone helps put protein into muscles - an ideal opportunity to get some protein in. Also exercise is catabolic, and as you burn fat for fuel you also utilise protein, so cardio exercise on an empty stomach means that you may burning muscle as well as fat and are missing out on an anabolic opportunity. My recommendation is to have 20-25g of rapidly absorbed protein (eg whey in water) when you awake prior to exercise.
When you've finished your morning CV exercise there is another opportunity to have protein and you'll need some complex carbs to give you the energy. Have a healthy breakfast like high fibre cereal and skimmed milk with fruit and you may also want to supplement this with more protein from food or powder sources.
I hope this helps you early morning exercisers!