Financial Breakfast: Morning News Summary for May 10, 2012

Benzinga's Top News

• Arcelor Mittal MT Reports Q1 EPS $0.01 vs $0.22 Est; Revenues $22.70B vs $22.40B Est
• Kohls KSS Reports Q1 EPS $0.63 vs $0.61 Est; Revenues $4.2B vs $4.25B Est
• Avon 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 PPS Upgrades Post Properties from Hold to Buy, Raises PT from $47 to $58
• Goldman Sachs Upgrades Plains All American Pipeline 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 WES from Outperform to Neutral, Announces PT of $48
• ISI Group Downgrades Staples 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 MT Reports Q1 EPS $0.01 vs $0.22 Est; Revenues $22.70B vs $22.40B Est
• Kohls KSS Reports Q1 EPS $0.63 vs $0.61 Est; Revenues $4.2B vs $4.25B Est
• Windstream 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

• Avon AVP Receives Letter from Coty; Coty Prepared To Discuss Increase To $24.75/Share Offer
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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