Financial Breakfast: Morning News Summary for May 1, 2012

Benzinga's Top News

• Reserve Bank of Australia Cuts Interest Rate To 3.75% from 4.25%
• UK Manufacturing PMI Drops To 50.5 In April from 51.9
• Louis Dreyfus Commodities LLC Agrees to Acquire Imperial Sugar IPSU for $6.35/Share

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 9 points.
• U.S. Dollar trades about 0.04% lower.

Overseas Trading

• European markets are closed for May 1st Holiday
• Asian stocks are closed for May 1st Holiday.
• Reserve Bank of Australia Cuts Interest Rate To 3.75% from 4.25%
• UK Manufacturing PMI Drops To 50.5 In April from 51.9

Upgrades/Downgrades

• Goldman Sachs Upgrades Community Health Systems CYH from Sell to Neutral, Raises PT from $19 to $27
• Bank of America Upgrades AstraZeneca AZN from Underperform to Neutral, Maintains PO at $49.2

• Deutsche Bank Downgrades VeriFone Systems PAY from Hold to Sell, Lowers PT to $40
• Deutsche Bank Downgrades Costco Wholesale COST from Buy to Hold, Maintains PT at $89

On the Economic Calendar

• 08:55 a.m. ET - Redbook (MoM)
• 10:00 - ISM Manufacturing Index
• 10:00 - ISM Manufacturing Prices
• 10:00 - Construction Spending (MoM)
• 11:30 - 52-Week Bill Auction
• 11:30 - 4-Week Bill Auction
• 11:30 - Chicago Fed President Evans Speaks
• 16:00 - Total Vehicle Sales

Earnings

• Pfizer PFE Reports Q1 EPS $0.58 vs $0.56 Est; Revenues $15.4B vs $15.47B Est
• Archer-Daniels-Midland ADM Reports Q3 EPS $0.78 vs $0.59 Est; Revenues $21.16B vs $21.38B Est
• Harris HRS Reports Q3 EPS $1.39 vs $1.32 Est; Revenues $1.48B vs $1.47B Est
• Biogen Idec BIIB Reports Q1 EPS $1.40 vs $1.48 Est; Revenues $1.3B vs $1.31B Est

Corporate News

• Louis Dreyfus Commodities LLC Agrees to Acquire Imperial Sugar IPSU for $6.35/Share

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.05%
• Energy futures are trading lower, with crude oil posting early losses of about 0.23%
• Natural Gas futures are trading 1.0% higher and copper is trading lower by about 0.04%

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	1408	1401	1396	1388	1382
Gold	1680	1672	1658	1650	1637
Crude	105.92	105.41	104.64	104.13	103.36
Natural Gas	2.42	2.36	2.25	2.19	2.08
EUR/USD	1.3295	1.3266	1.3236	1.3208	1.3178
US Dollar Index	79.10	78.98	78.83	78.70	78.55

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