Market Overview

Financial Breakfast: Morning News Summary for February 29, 2012

Wednesday, February 29, 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

  • Costco Wholesale (NASDAQ: COST) Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
  • SodaStream International (NASDAQ: SODA) Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
  • Joy Global (NYSE: JOY) Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est
  • Conceptus (NASDAQ: CPTS) Receives FDA Approval for Compatible Use of Hologic's NovaSure with Essure Inserts in Place

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 22 points.
  • U.S. Dollar trades about 0.13% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.03%, Germany's DAX advanced 0.63% and France's CAC 40 advanced 0.61% on the session.
  • Asian stocks ended the session mixed. China's Shanghai lost 0.97%, Japan's Nikkei 225 advanced 0.01%, and Hong Kong's Hang Seng gained 0.52%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Deutsche Bank Upgrades Chevron (NYSE: CVX) from Hold to Buy, Raises PT from $115 to $130
To see more of today's upgrades, click here.

  • JP Morgan Downgrades Coinstar (NASDAQ: CSTR) from Overweight to Neutral, Maintains PT at $62
  • Mirae Asset Downgrades SINA (NASDAQ: SINA) from Buy to Hold, Lowers PT from $75 to $70
To see more of today's downgrades, click here.

On the Economic Calendar

  • US MBA Mortgage Applications came in at (0.3%) from (4.5%) Prior
  • GDP and Personal Consumption are set to report at 8:30 a.m. ET
  • Chicago PMI is due at 9:45 a.m.
  • Fed's Beige Book is set to release at 2:00 p.m..
To see more economic news, click here

Earnings

  • Costco Wholesale (NASDAQ: COST) Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
  • SodaStream International (NASDAQ: SODA) Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
  • Joy Global (NYSE: JOY) Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.02%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.49%
  • Natural Gas futures are lower by about 0.12% and copper is trading higher by about 0.52%
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 1379 1375 1369 1366 1360
Gold 1803 1794 1783 1774 1763
Crude 109.69 108.09 107.30 105.60 104.71
Natural Gas 2.67 2.60 2.55 2.48 2.44
EUR/USD 1.3520 1.3488 1.3438 1.3406 1.3357
US Dollar Index 78.79 78.53 78.37 78.11 77.95


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

 

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