Market Overview

Financial Breakfast: Morning News Summary for April 5, 2012

Thursday, April 5, 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

  • Polycom (NASDAQ: PLCM) Announces Preliminary Q1 EPS $0.21-0.23 vs $0.30 Est. Revs $364-$370M vs $400M Est
  • Spectrum Pharmaceuticals (NASDAQ: SPPI) Announces Results of Apaziquone Phase 3 Clinical Trials; Did Not Meet Primary Endpoint
  • Bank Of England Leaves Rates Unchanged At 0.5%

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade down about 45 points.
  • U.S. Dollar trades about 0.31% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.43%, Germany's DAX fell 0.98% and France's CAC 40 dropped 0.55% on the session.
  • Asian stocks ended the session mixed. China's Shanghai added 1.76%, Japan's Nikkei 225 fell 0.53%, and Hong Kong's Hang Seng slid 0.95%.
  • Bank Of England Leaves Rates Unchanged At 0.5%
To see more overseas news, click here.

Upgrades/Downgrades

  • The Benchmark Company Upgrades Liquidity Services (NASDAQ: LQDT) from Hold to Buy, Raises PT from $41 to $57
  • Citigroup Upgrades KeyCorp (NYSE: KEY) from Neutral to Buy, Raises PT from $8 to $10
To see more of today's upgrades, click here.

  • Citigroup Downgrades Comerica (NYSE: CMA) from Neutral to Sell, Maintains PT at $29
  • JP Morgan Downgrades MDC Holdings (NYSE: MDC) from Neutral to Underweight, Lowers PT from $22 to $20
To see more of today's downgrades, click here.

On the Economic Calendar

  • 07:30 a.m. ET - Challenger Job Cuts (YoY)
  • 08:30 - Initial Jobless Claims
  • 08:30 - Continuing Jobless Claims
  • 10:00 - CAD Ivey PMI
  • 10:30 - Natural Gas Storage
To see more economic news, click here

Earnings

  • Polycom (NASDAQ: PLCM) Announces Preliminary Q1 EPS $0.21-0.23 vs $0.30 Est. Revs $364-$370M vs $400M Est
  • PTC (NASDAQ: PMTC) Provides Preliminary Q2 Revs $300M vs $314M Est; EPS $0.26-0.28 vs $0.34 Est
  • Pier 1 Imports (NYSE: PIR) Reports Q4 EPS $0.48 vs $0.48 Est; Revenues $476.8M vs $474.72M Est
To see more earnings announcements, click here.

Corporate News

  • Spectrum Pharmaceuticals (NASDAQ: SPPI) Announces Results of Apaziquone Phase 3 Clinical Trials; Did Not Meet Primary Endpoint
  • Spectrum Pharmaceuticals (NASDAQ: SPPI) to Acquire Allos Therapeutics (NASDAQ: ALTH) for $1.82 per Share plus One Contingent Value Right
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.56%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.27%
  • Natural Gas futures are higher by about 0.28% and copper is trading lower by about 0.28%
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 1411 1402 1395 1386 1379
Gold 1660 1641 1627 1607 1593
Crude 104.91 103.47 102.28 100.84 99.65
Natural Gas 2.22 2.18 2.15 2.11 2.08
EUR/USD 1.3257 1.3199 1.3153 1.3094 1.3048
US Dollar Index 80.35 80.14 79.88 79.67 79.40


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