Market Overview

Financial Breakfast: Morning News Summary for May 22, 2012

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Tuesday, May 22, 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

  • Fitch Downgrades Japan to 'A+' From 'AA'; Outlook Negative
  • AutoZone (NYSE: AZO) Reports Q3 EPS $6.28 vs $6.25 Est; Revenues $2.11B vs $2.13B Est
  • Medtronic (NYSE: MDT) Reports Q4 EPS $0.99 vs $0.98 Est; Revenues $4.3B vs $4.23B Est
  • Domestic Pre-Market Trading

    • U.S. Equity Markets trade lower as Dow futures trade down about 11 points.
    • U.S. Dollar trades about 0.26% higher.
    To see more pre-market news, click here.

    Overseas Trading

    • European markets are higher in afternoon trading. Britain's FTSE 100 jumped 1.01%, Germany's DAX added 0.73% and France's CAC 40 advanced 0.88% on the session.
    • Asian stocks ended the session higher as well. China's Shanghai added 1.09%, Japan's Nikkei 225 advanced 1.10%, and Hong Kong's Hang Seng gained 0.62%.
    • Fitch Downgrades Japan to 'A+' From 'AA'; Outlook Negative
    To see more overseas news, click here.

    Upgrades/Downgrades

    • Needham Upgrades EnerNOC (NASDAQ: ENOC) from Hold to Buy, Announces PT of $7.5
    • Goldman Sachs Upgrades Manitowoc (NYSE: MTW) from Neutral to Buy, Lowers PT from $17 to $15
    To see more of today's upgrades, click here.

    • Piper Jaffray Downgrades Lowes (NYSE: LOW) from Overweight to Neutral, Lowers PT from $41 to $28
    To see more of today's downgrades, click here.

    On the Economic Calendar

    • 08:55 a.m. ET - Redbook (MoM)
    • 10:00 - Richmond Manufacturing Index
    • 10:00 - Existing Home Sales
    • 11:30 - 4-Week Bill Auction
    • 13:00 - 2-Year Note Auction
    To see more economic news, click here

    Earnings

    • AutoZone (NYSE: AZO) Reports Q3 EPS $6.28 vs $6.25 Est; Revenues $2.11B vs $2.13B Est
    • Medtronic (NYSE: MDT) Reports Q4 EPS $0.99 vs $0.98 Est; Revenues $4.3B vs $4.23B Est
    • DSW (NYSE: DSW) Reports Q1 EPS $0.98 vs $0.90 Est; Revenues $558.6M vs $548.09M Est
    • Williams-Sonoma (NYSE: WSM) Reports Q1 EPS $0.34 vs $0.32 Est; Revenues $817.6M vs $811.73M 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 0.65%
    • Energy futures are trading lower, with crude oil posting early losses of about 0.32%
    • Natural Gas futures are trading 0.46% higher and copper is trading lower by about 0.34%
    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 1330 1323 1308 1301 1286
    Gold 1606 1599 1591 1584 1577
    Crude 94.25 93.57 92.97 91.99 91.09
    Natural Gas 2.80 2.72 2.65 2.58 2.51
    EUR/USD 1.2887 1.2851 1.2788 1.2751 1.2688
    US Dollar Index 81.75 81.41 81.22 80.88 80.68


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

 

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