Market Overview

Financial Breakfast: Morning News Summary for May 18, 2012

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Friday, May 18, 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

Facebook (NASDAQ: FB) Prices 421M Shares At $38 per Share; Scheduled Open is for 11:00 a.m. ET </li> Foot Locker (NYSE: FL) Reports Q1 EPS $0.83 vs $0.74 Est; Revenues $1.58B vs $1.55B Est</li> Donaldson (NYSE: DCI) Reports Q3 EPS $0.46 vs $0.43 Est; Revenues $647.2M vs $649.88M Est</li>

Domestic Pre-Market Trading

U.S. Equity Markets trade higher as Dow futures trade up about 60 points.</li> U.S. Dollar trades about 0.11% higher.</li> </ul>
To see more pre-market news, click here.

Overseas Trading

European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.55%, Germany's DAX added 0.27% and France's CAC 40 advanced 0.43% on the session.</li> Asian stocks ended the session lower. China's Shanghai fell 1.41%, Japan's Nikkei 225 tumbled 2.99%, and Hong Kong's Hang Seng slid 1.3%.</li> </ul>
To see more overseas news, click here.

Upgrades/Downgrades

Credit Suisse Upgrades AutoZone (NYSE: AZO) from Neutral to Outperform, Raises PT from $350 to $440</li> Guggenheim Upgrades Sprint Nextel (NYSE: S) from Neutral to Buy, Raises PT from $3 to $3.5</li> </ul>
To see more of today's upgrades, click here.

Cantor Fitzgerald Downgrades Power-One (NASDAQ: PWER) from Buy to Hold, Lowers PT from $7.5 to $5</li> Goldman Sachs Downgrades Bankrate (NASDAQ: RATE) from Buy to Neutral, Lowers PT from $27 to $25</li> </ul>
To see more of today's downgrades, click here.

On the Economic Calendar

No Major Economic Events </ul>
To see more economic news, click here

Earnings

Foot Locker (NYSE: FL) Reports Q1 EPS $0.83 vs $0.74 Est; Revenues $1.58B vs $1.55B Est</li> Donaldson (NYSE: DCI) Reports Q3 EPS $0.46 vs $0.43 Est; Revenues $647.2M vs $649.88M Est</li> Brown Shoe (NYSE: BWS) Reports Q1 EPS $0.23 vs $0.09 Est; Revenues $626.4M vs $600.70M Est</li> </ul>
To see more earnings announcements, click here.

Corporate News

Facebook (NASDAQ: FB) Prices 421M Shares At $38 per Share; Scheduled Open is for 11:00 a.m. ET </li> </ul>
To see more corporate news, click here.

Commodities

Precious metals are trading higher, with gold posting early gains of about 0.97%</li> Energy futures are trading higher, with crude oil posting early gains of about 0.11%</li> Natural Gas futures are trading 3.01% higher and copper is trading higher by about 0.92%</li> </ul>
To see more commodities news, click here.


Benzinga's Morning Radar

Technical Levels for Futures and Forex
Name </td> Resistance-2 </td> Resistance-1 </td> Mid Pivot </td> Support-1 </td> Support-2 </td> </tr>E-Mini S&P 500</td> 1341</td> 1321</td> 1310</td> 1291</td> 1280</td> </tr>Gold</td> 1601</td> 1588</td> 1566</td> 1553</td> 1532</td> </tr>Crude</td> 94.75</td> 93.82</td> 92.96</td> 92.03</td> 91.17</td> </tr>Natural Gas</td> 2.77</td> 2.70</td> 2.60</td> 2.53</td> 2.43</td> </tr>EUR/USD</td> 1.2785</td> 1.2741</td> 1.2700</td> 1.2659</td> 1.2622</td> </tr>US Dollar Index</td> 82.04</td> 81.84</td> 81.63</td> 81.43</td> 81.21</td> </tr></table>
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Posted-In: Bonds Earnings News Upgrades Downgrades Futures Commodities Technicals Forex IPOs Events Global Econ #s Economics Pre-Market Outlook Markets Analyst Ratings Trading Ideas General Best of Benzinga

 

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