Market Overview

Financial Breakfast: Morning News Summary for May 16, 2012

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Wednesday, May 16, 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

  • Deere & Company (NYSE: DE) Reports Q2 EPS $2.61 vs $2.53 Est; Revenues $9.4B vs $9.70B Es
  • Abercrombie & Fitch (NYSE: ANF) Reports Q1 EPS $0.03 vs $0.02 Est; Revenues $921.2M vs $951.33M Est
  • Facebook (NASDAQ: FB) Boosts Number of Shares for Sale in IPO to 421.2M from 337.4M
  • Domestic Pre-Market Trading

    • U.S. Equity Markets trade lower as Dow futures trade up about 4 points.
    • U.S. Dollar trades about 0.23% higher.
    To see more pre-market news, click here.

    Overseas Trading

    • European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.88%, Germany's DAX fell 0.78% and France's CAC 40 advanced 0.33% on the session.
    • Asian stocks ended the session lower. China's Shanghai slid 1.20%, Japan's Nikkei 225 fell 1,12%, and Hong Kong's Hang Seng tumbled 3.19%.
    To see more overseas news, click here.

    Upgrades/Downgrades

    • JP Morgan Upgrades Weatherford International (NYSE: WFT) from Neutral to Overweight, Maintains PT at $19
    • Citigroup Upgrades Akamai Technologies (NASDAQ: AKAM) from Sell to Neutral, Maintains PT at $32
    To see more of today's upgrades, click here.

    • JP Morgan Downgrades Baker Hughes (NYSE: BHI) from Overweight to Neutral, Lowers PT from $53 to $50
    • Imperial Capital Downgrades Summer Infant (NASDAQ: SUMR) from Outperform to In-Line, Lowers PT from $9 to $5
    To see more of today's downgrades, click here.

    On the Economic Calendar

    • 08:30 a.m. ET - Housing Starts
    • 08:30 - Building Permits
    • 09:15 - Capacity Utilization Rate
    • 09:15 - Industrial Production (MoM)
    • 10:30 - Crude Oil Inventories
    • 10:30 - Gasoline Inventories
    • 14:00 - FOMC Meeting Minutes
    To see more economic news, click here

    Earnings

    • Deere & Company (NYSE: DE) Reports Q2 EPS $2.61 vs $2.53 Est; Revenues $9.4B vs $9.70B Es
    • Abercrombie & Fitch (NYSE: ANF) Reports Q1 EPS $0.03 vs $0.02 Est; Revenues $921.2M vs $951.33M 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 1.46%
    • Energy futures are trading lower, with crude oil posting early losses of about 1.54%
    • Natural Gas futures are trading 0.20% higher and copper is trading lower by about 1.52%
    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 1355 1341 1333 1320 1312
    Gold 1573 1558 1549 1535 1526
    Crude 96.32 94.70 93.86 92.24 91.40
    Natural Gas 2.60 2.55 2.48 2.44 2.37
    EUR/USD 1.2919 1.2824 1.2772 1.2676 1.2625
    US Dollar Index 81.98 81.70 81.16 80.88 80.34


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Latest Ratings for DE

DateFirmActionFromTo
Aug 2014MacquarieDowngradesNeutralUnderperform
Aug 2014Credit SuisseMaintainsOutperform
Aug 2014BarclaysMaintainsOverweight

View More Analyst Ratings for DE
View the Latest Analyst Ratings

Posted-In: Earnings News Bonds Guidance Upgrades Downgrades Futures Technicals Best of Benzinga

 

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