Financial Breakfast: Morning News Summary for May 14, 2012

Benzinga's Top News

• Carl Icahn Expectd To Disclose Significant Stake In Chesapeake Energy CHK -WSJ
• Scott Thompson Out as Yahoo YHOO CEO; Ross Levinsohn to Be Named Interim CEO; Thompson Told Board, Colleagues He Has Thyroid Cancer
• On Saturday, the People's Bank of China cut its Reserve Ratio by 50 Basis Points

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 101 points.
• U.S. Dollar trades about 0.35% higher.
To see more pre-market news, click here.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 slid 2.17%, Germany's DAX fell 2.14% and France's CAC 40 dropped 2.5% on the session.
• Asian stocks ended the session mixed. China's Shanghai slid 0.55%, Japan's Nikkei 225 added 0.23%, and Hong Kong's Hang Seng dropped 1.15%.
• On Saturday, the People's Bank of China cut its Reserve Ratio by 50 Basis Points
To see more overseas news, click here.

Upgrades/Downgrades

• Goldman Sachs Upgrades St Jude Medical STJ from Neutral to Buy, Raises PT from $45 to $50
• JP Morgan Upgrades McDermott International MDR from Neutral to Overweight, Raises PT from $14.5 to $16
To see more of today's upgrades, click here.
• Goldman Sachs Downgrades Symantec SYMC from Neutral to Sell, Lowers PT from $16 to $14
• Goldman Sachs Downgrades Synchronoss Technologies SNCR from CL-Buy to Buy, Lowers PT from $37 to $28
To see more of today's downgrades, click here.

On the Economic Calendar

• 11:30 a.m. ET - 6-Month Bill Auction
• 11:30 - 3-Month Bill Auction
To see more economic news, click here

Earnings

• InterOil IOC Reports Q1 EPS $0.19 vs $0.05 Est; Revenues $338.1M vs $310.8M Est
• Silver Wheaton SLW Reports Q1 EPS $0.41 vs $0.44 Est; Revenues $199.6M vs $210M Est
To see more earnings announcements, click here.

Corporate News

• Francesca's Holdings FRAN Terminates Employment of CFO; Raises Q1 EPS Guidance to $0.17-0.18 vs $0.14-0.15 Prior Guidance
• Carl Icahn Expectd To Disclose Significant Stake In Chesapeake Energy CHK -WSJ
• Scott Thompson Out as Yahoo YHOO CEO; Ross Levinsohn to Be Named Interim CEO; Thompson Told Board, Colleagues He Has Thyroid Cancer
• Tii Network Technologies TIII To Be Acquired By Kelta For $2.15 Per Share
To see more corporate news, click here.

Commodities

• Precious metals are trading lower, with gold posting early losses of about 1.4%
• Energy futures are trading lower, with crude oil posting early losses of about 1.8%
• Natural Gas futures are trading 0.04% lower and copper is trading lower by about 2.06%
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	1370	1360	1352	1342	1334
Gold	1599	1589	1580	1571	1562
Crude	97.75	96.66	96.11	95.02	94.45
Natural Gas	2.56	2.53	2.49	2.45	2.41
EUR/USD	1.2977	1.2946	1.2925	1.2894	1.2873
US Dollar Index	80.60	80.54	80.37	80.27	80.10



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