Financial Breakfast: Morning News Summary for February 29, 2012

Benzinga's Top News

• Costco Wholesale COST Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
• SodaStream International SODA Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
• Joy Global JOY Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est
• Conceptus 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.

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%.

Upgrades/Downgrades

• Deutsche Bank Upgrades Chevron CVX from Hold to Buy, Raises PT from $115 to $130

• JP Morgan Downgrades Coinstar CSTR from Overweight to Neutral, Maintains PT at $62
• Mirae Asset Downgrades SINA SINA from Buy to Hold, Lowers PT from $75 to $70

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..

Earnings

• Costco Wholesale COST Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
• SodaStream International SODA Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
• Joy Global JOY Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est

Corporate News

• Joe's Jeans JOEZ Announces Launch of a New Brand Exclusive to Macy's M
• BioLineRx BLRX Announces Receipt of Notice of Allowance from USPTO for Patent Covering BCM
• Conceptus CPTS Receives FDA Approval for Compatible Use of Hologic's NovaSure with Essure Inserts in Place

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%

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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