Financial Breakfast: Morning News Summary for April 13, 2012

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Friday, April 13, 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

  • China's Q1 GDP Growth Slows to 8.1% vs 8.3% Est
  • JPMorgan Chase Reports Q1 EPS $1.31 vs $1.17 Est; Revenues $26.71B vs $24.66B Est

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade up about 30 points.
  • U.S. Dollar trades about 0.19% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.29%, Germany's DAX fell 0.53% and France's CAC 40 dropped 0.91% on the session.
  • Asian stocks ended the session higher. China's Shanghai added 0.35%, Japan's Nikkei 225 gained 1.19%, and Hong Kong's Hang Seng advanced 1.84%.
  • China's Q1 GDP Growth Slows to 8.1% vs 8.3% Est
To see more overseas news, click here.

Upgrades/Downgrades

  • Morgan Stanley Upgrades Dover DOV from Underweight to Equal-weight, Raises PT from $64 to $65
  • ABG Sundal Collier Upgrades Pandora P from Hold to Buy
To see more of today's upgrades, click here.

  • Barclays Downgrades Nokia NOK from Overweight to Equal-weight
  • Credit Suisse Downgrades Cohen & Steers CNS from Outperform to Neutral, Lowers PT from $45 to $40
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET - CPI (MoM)
  • 09:55 - Michigan Consumer Sentiment Index
  • 13:00 - Fed Chairman Bernanke Speaks
To see more economic news, click here

Earnings

  • JPMorgan Chase Reports Q1 EPS $1.31 vs $1.17 Est; Revenues $26.71B vs $24.66B Est
  • iGate IGTE Reports Q1 EPS $0.38 vs $0.32 Est; Revenues $263.3M vs $270.27M Est
To see more earnings announcements, click here.

Corporate News

  • JP Morgan JPM Increase Annual Dividend to $1.20/Share; Authorize A New $15 Billion Equity Repurchase Program
  • Regis RGS Announces Agreement to Sell Ownership in Provalliance for EUR 80 Million in Cash
To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting early losses of about 0.33%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.31%
  • Natural Gas futures are higher by about 0.05% and copper is trading lower by about 1.32%
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 1401 1393 1378 1370 1355
Gold 1699 1688 1669 1657 1639
Crude 105.23 104.44 103.45 102.65 101.65
Natural Gas 2.10 2.04 2.00 1.94 1.90
EUR/USD 1.3276 1.3231 1.3162 1.3121 1.3056
US Dollar Index 80.19 79.83 79.60 79.24 79.01

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Posted In: EarningsNewsBondsDividendsUpgradesDowngradesFuturesTechnicalsCommoditiesForexBuybacksEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading IdeasGeneral
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