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Financial Breakfast: Morning News Summary for May 10, 2012

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Thursday, May 10, 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

  • Arcelor Mittal (NYSE: MT) Reports Q1 EPS $0.01 vs $0.22 Est; Revenues $22.70B vs $22.40B Est
  • Kohls (NYSE: KSS) Reports Q1 EPS $0.63 vs $0.61 Est; Revenues $4.2B vs $4.25B Est
  • Avon (NYSE: AVP) Receives Letter from Coty; Coty Prepared To Discuss Increase To $24.75/Share Offer
  • Domestic Pre-Market Trading

    • U.S. Equity Markets trade lower as Dow futures trade down about 5 points.
    • U.S. Dollar trades about 0.07% higher.
    To see more pre-market news, click here.

    Overseas Trading

    • European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.47%, Germany's DAX fell 0.09% and France's CAC 40 dropped 0.98% on the session.
    • Asian stocks ended the session mixed. China's Shanghai added 0.09%, Japan's Nikkei 225 fell 0.39%, and Hong Kong's Hang Seng dropped 0.51%.
    • Bank of England Maintains Benchmark Interest Rate at 0.50%
    To see more overseas news, click here.

    Upgrades/Downgrades

    • Wunderlich Securities (NYSE: PPS) Upgrades Post Properties from Hold to Buy, Raises PT from $47 to $58
    • Goldman Sachs Upgrades Plains All American Pipeline (NYSE: PAA) from Buy to CL-Buy, Raises PT from $93 to $100
    To see more of today's upgrades, click here.

    • Credit Suisse Downgrades Western Gas Partners (NYSE: WES) from Outperform to Neutral, Announces PT of $48
    • ISI Group Downgrades Staples (NASDAQ: SPLS) from Hold to Sell, Revises PT of $13
    To see more of today's downgrades, click here.

    On the Economic Calendar

    • 08:30 a.m. ET - Initial Jobless Claims
    • 08:30 - Continuing Jobless Claims
    • 08:30 - Trade Balance
    • 08:30 - Import Price Index (MoM)
    • 09:15 - Chicago Fed President Evans Speaks
    • 09:30 - Fed Chairman Bernanke Speaks
    • 10:30 - Natural Gas Storage
    • 13:00 - 30-Year Bond Auction
    • 14:00 - Federal Budget Balance
    To see more economic news, click here

    Earnings

    • Arcelor Mittal (NYSE: MT) Reports Q1 EPS $0.01 vs $0.22 Est; Revenues $22.70B vs $22.40B Est
    • Kohls (NYSE: KSS) Reports Q1 EPS $0.63 vs $0.61 Est; Revenues $4.2B vs $4.25B Est
    • Windstream (NYSE: WIN) Reports Q1 EPS $0.13 vs $0.14 Est; Revenues $1.55B vs $1.56B Est
    To see more earnings announcements, click here.

    Corporate News

    To see more corporate news, click here.

    Commodities

    • Precious metals are trading lower, with gold posting early losses of about 0.24%
    • Energy futures are trading lower, with crude oil posting early losses of about 0.52%
    • Natural Gas futures are trading 0.73% higher and copper is trading higher by about 0.14%
    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 1371 1361 1350 1339 1328
    Gold 1606 1598 1588 1580 1570
    Crude 97.85 97.11 96.14 95.40 94.43
    Natural Gas 2.56 2.50 2.45 2.40 2.34
    EUR/USD 1.3032 1.2980 1.2945 1.2892 1.2858
    US Dollar Index 80.66 80.47 80.25 80.04 79.80


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Posted-In: Bonds Earnings News Upgrades Downgrades Futures Commodities Technicals Forex Events Global Econ #s Economics Markets Analyst Ratings Trading Ideas General Best of Benzinga

 

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