Market Overview

Financial Breakfast: Morning News Summary for March 8, 2012

Thursday, March 8, 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

  • BOE Announces Leaves Interest Rates Unchanged at 0.50%
  • Smithfield Foods (NYSE: SFD) Reports Q1 EPS $0.69 vs $0.66 Est; Revenues $3.48B vs $3.50B Est
  • Williams-Sonoma (NYSE: WSM)Reports Q4 EPS $1.17 vs $1.13 Est; Revenues $1.27B vs $1.25B Est
  • Kohl's (NYSE: KSS) Opens Eight New Stores Creating Approximately 1,000 Jobs.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 100 points.
  • U.S. Dollar trades about 0.47% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 1.35%, Germany's DAX gained 2.19% and France's CAC 40 advanced 2.11% on the session.
  • Asian stocks ended the session higher as well. China's Shanghai added 1.05%, Japan's Nikkei 225 gained 2.01%, and Hong Kong's Hang Seng advanced 1.32%.
To see more overseas news, click here.

Upgrades/Downgrades

  • JP Morgan Upgrades Cintas (NASDAQ: CTAS) from Neutral to Overweight, Raises PT from $34 to $45
  • Deutsche Bank Upgrades Axis Capital Holdings (NYSE: AXS) from Hold to Buy, Raises PT from $33 to $38
To see more of today's upgrades, click here.

  • Collins Stewart Downgrades Total(NYSE: TOT) from Hold to Sell
  • Wunderlich Securities Downgrades Kopin (NASDAQ: KOPN) from Buy to Hold, Lowers PT from $5 to $3.5
To see more of today's downgrades, click here.

On the Economic Calendar

  • BOE Announces Leaves Interest Rates Unchanged at 0.50%
  • Challenger Job Cuts is set to report at 7:30 a.m. ET
  • Initial and Continuing Jobless Claims are due at 8:30 a.m.
To see more economic news, click here

Earnings

  • Smithfield Foods (NYSE: SFD) Reports Q1 EPS $0.69 vs $0.66 Est; Revenues $3.48B vs $3.50B Est
  • Williams-Sonoma (NYSE: WSM)Reports Q4 EPS $1.17 vs $1.13 Est; Revenues $1.27B vs $1.25B Est
  • Buckle Reports (NYSE: BKE) Q1 EPS $1.18 vs $1.14 Est; Revenues $337.10M vs $335.11M 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 1.09%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.75%
  • Natural Gas futures are higher by about 0.39% and copper is trading higher by about 1.23%
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 1360 1356 1350 1346 1340
Gold 1698 1691 1681 1674 1664
Crude 107.89 107.00 105.69 104.82 103.49
Natural Gas 2.36 2.33 2.30 2.27 2.24
EUR/USD 1.3203 1.3175 1.3135 1.3108 1.3068
US Dollar Index 80.12 79.93 79.78 79.59 79.45


Subscribe Click here to subscribe to this newsletter. Receive it daily to your inbox!

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

 

Related Articles (AXS + BKE)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters