Financial Breakfast: Morning News Summary for May 14, 2012

Monday, May 14, 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

  • 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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Posted In: EarningsNewsBondsUpgradesDowngradesFuturesTechnicalsCommoditiesMovers & ShakersForexM&AEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading IdeasGeneral
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