Market Overview

Financial Breakfast: Morning News Summary for February 28, 2012


Tuesday, February 28, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

  • AutoZone (NYSE: AZO) Reports Q2 EPS $4.15 vs $4.04 Est; Revenues $1.80B vs $1.78B Est
  • Tech Data (NASDAQ: TECD) Reports Q4 EPS $1.75 vs $1.66 Est; Revenues $7.11B vs $7.16B Est
  • Steelworkers Ratify Agreement with Cooper Tire (NYSE: CTB), Ending Lockout

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 41 points.
  • U.S. Dollar trades about 0.27% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.12%, Germany's DAX advanced 0.33% and France's CAC 40 advanced 0.35% on the session.
  • Asian stocks ended the session higher as well. China's Shanghai added 0.21%, Japan's Nikkei 225 advanced 0.92%, and Hong Kong's Hang Seng gained 1.65%.
To see more overseas news, click here.


  • JP Morgan Upgrades USG (NYSE: USG) from Neutral to Overweight, Raises PT from $12.5 to $18.5
  • Auriga Upgrades Salix Pharmaceuticals (NASDAQ: SLXP) from Hold to Buy, Announces PT of $54
To see more of today's upgrades, click here.

  • Oppenheimer Downgrades Nokia (NYSE: NOK) from Outperform to Perform
  • Jefferies & Company Downgrades Finisar (NASDAQ: FNSR) from Buy to Hold, Lowers PT from $24 to $22
To see more of today's downgrades, click here.

On the Economic Calendar

  • Durable Goods Orders are set to report at 8:30 a.m. ET
  • Case-Shiller Home Price Index is due at 9:00 a.m.
  • Consumer Confidence and Richmond Fed Manufacturing Index are set to report at 10:00 a.m.
To see more economic news, click here


  • AutoZone (NYSE: AZO) Reports Q2 EPS $4.15 vs $4.04 Est; Revenues $1.80B vs $1.78B Est
  • Tech Data (NASDAQ: TECD) Reports Q4 EPS $1.75 vs $1.66 Est; Revenues $7.11B vs $7.16B Est
  • Impax Laboratories (NASDAQ: IPXL) Reports Q4 EPS $0.33 vs $0.22 Est; Revenues $158.56M vs $128.51M Est
To see more earnings announcements, click here.

Corporate News

  • Steelworkers Ratify Agreement with Cooper Tire (NYSE: CTB), Ending Lockout
  • Chart (NASDAQ: GTLS) Receives $110M Order for Wheatstone Liquefied Natural Gas Project in Australia
  • Alimera Sciences (NASDAQ: ALIM) Announces Positive Outcome to the European Decentralized Procedure for Approval of ILUVIEN for the Treatment of Chronic Diabetic Macular Edema
To see more corporate news, click here.


  • Precious metals are trading higher, with gold posting early gains of about 0.29%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.29%
  • Natural Gas futures are lower by about 0.35% and copper is trading higher by about 0.94%
To see more commodities news, click here.

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini S&P 500 1381 1374 1363 1356 1346
Gold 1789 1779 1771 1761 1752
Crude 110.33 109.10 108.19 106.96 106.05
Natural Gas 2.79 2.69 2.64 2.55 2.50
EUR/USD 1.3506 1.3450 1.3408 1.3353 1.3310
US Dollar Index 78.89 78.75 78.58 78.44 78.27

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Posted-In: Earnings News Bonds Guidance Upgrades Downgrades Futures Technicals Best of Benzinga


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