Market Overview

Financial Breakfast: Morning News Summary for May 30, 2012

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Wednesday, May 30, 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

  • EU Weighs Direct Aid For Banks
  • Booz Allen Hamilton Reports Q4 EPS $0.44 vs $0.41 Est; Revenues $1.54B vs $1.55B Est
  • Tim Cook Says Apple's (NASDAQ: AAPL) Relationship with Facebook (NASDAQ: FB) is 'Very Solid', Stay Tuned
  • Yesterday, Research in Motion (NASDAQ: RIMM) Hires Bankers, Looks to Pursue "Strategic Options"; Expected to Report Operating Losses for Q1

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade down about 85 points.
  • U.S. Dollar trades about 0.16% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 lost 1.29%, Germany's DAX slid 0.71% and France's CAC 40 declined 0.99% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai slid 0.26%, Japan's Nikkei 225 declined 0.28%, and Hong Kong's Hang Seng fell 1.92%.
  • Economic Sentiment For The Euro-Zone Declined To 90.6, Versus 92.9 In April
  • EU Weighs Direct Aid For Banks
To see more overseas news, click here.

Upgrades/Downgrades

  • Goldman Sachs Upgrades Wynn Resorts (NASDAQ: WYNN) from Neutral to Buy, Maintains PT at $136
  • Oppenheimer Upgrades Jack in the Box (NASDAQ: JACK) from Perform to Outperform, Announces $32 PT
To see more of today's upgrades, click here.

  • Deutsche Bank Downgrades Frontline (NYSE: FRO) from Hold to Sell, Lowers PT from $6 to $2
  • Dahlman Rose Downgrades Agnico-Eagle Mines (NYSE: AEM) from Buy to Hold
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:55 a.m. ET - Redbook (MoM)
  • 10:00 - Pending Home Sales (MoM)
  • 11:30 - 52-Week Bill Auction
  • 11:30 - 4-Week Bill Auction
  • 11:30 - ECB President Draghi Speaks
  • 12:20 - FOMC Member Fisher Speaks
To see more economic news, click here

Earnings

  • Booz Allen Hamilton Reports Q4 EPS $0.44 vs $0.41 Est; Revenues $1.54B vs $1.55B Est
  • The Fresh Market (NYSE: TFM) Reports Q1 EPS $0.4 vs $0.36 Est; Revenues $324.8M vs $310.48M Est
  • JOS A Bank Clothiers (NASDAQ: JOSB) Reports Q1 EPS $0.53 vs $0.62 Est; Revenues $201.4M vs $208.9M Est
To see more earnings announcements, click here.

Corporate News

  • Tim Cook Says Apple's (NASDAQ: AAPL) Relationship with Facebook (NASDAQ: FB) is 'Very Solid', Stay Tuned
  • Finish Line (NASDAQ: FINL) Outlines Long-Term Operating Targets; Updates Fiscal First Quarter Outlook; Expects Q1 EPS $0.22-0.23 from $0.21 Prior and vs $0.22 Est
  • Yesterday, Research in Motion (NASDAQ: RIMM) Hires Bankers, Looks to Pursue "Strategic Options"; Expected to Report Operating Losses for Q1
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.26%
  • Energy futures are trading lower, with crude oil posting early losses of about 1.45%
  • Natural Gas futures are trading 2.6% lower and copper is trading lower by about 1.46%
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 1343 1338 1329 1324 1315
Gold 1600 1578 1563 1541 1526
Crude 93.09 92.00 91.13 90.04 89.17
Natural Gas 2.66 2.58 2.52 2.43 2.37
EUR/USD 1.2625 1.2563 1.2512 1.2450 1.2398
US Dollar Index 83.02 82.75 82.44 82.17 81.86


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