Market Overview

Financial Breakfast: Morning News Summary for May 31, 2012

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Thursday, May 31, 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

  • Joy Global (NYSE: JOY) Reports Q2 EPS $1.98 vs $1.95 Est; Revenues $1.54B vs $1.43B Est
  • Joy Global (NYSE: JOY) Cuts FY Guidance, Sees EPS to $7.15-7.45 from $7.40-7.80; Revs to $5.5-5.7B from $5.6-5.8B

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 48 points.
  • U.S. Dollar trades about 0.16% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.84%, Germany's DAX gained 0.35% and France's CAC 40 advanced 0.80% on the session.
  • Asian stocks ended the session lower. China's Shanghai slid 0.49%, Japan's Nikkei 225 declined 1.05%, and Hong Kong's Hang Seng fell 0.32%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Morgan Stanley Upgrades Altera (NASDAQ: ALTR) from Equal-weight to Overweight, Announces PT of $40
  • Canaccord Upgrades Coinstar (NASDAQ: CSTR) from Hold to Buy, Raises PT from $70 to $71
To see more of today's upgrades, click here.

  • Bank of America Downgrades Cliffs Natural Resources (NYSE: CLF) from Buy to Neutral, Lowers PO from $84 to $60
  • Sterne Agee Downgrades Finish Line (NASDAQ: FINL) from Buy to Neutral, Announces PT of $25
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:15 a.m. ET - ADP Nonfarm Employment Change
  • 08:30 - GDP (QoQ)
  • 08:30 - Continuing Jobless Claims
  • 08:30 - Initial Jobless Claims
  • 08:30 - GDP Price Index (QoQ)
  • 09:45 - Chicago PMI
  • 10:30 - Natural Gas Storage
  • 11:00 - Gasoline Inventories
  • 11:00 - Crude Oil Inventories
To see more economic news, click here

Earnings

  • Joy Global (NYSE: JOY) Reports Q2 EPS $1.98 vs $1.95 Est; Revenues $1.54B vs $1.43B Est
  • Joy Global (NYSE: JOY) Cuts FY Guidance, Sees EPS to $7.15-7.45 from $7.40-7.80; Revs to $5.5-5.7B from $5.6-5.8B
  • Ciena (NASDAQ: CIEN) Reports Q2 EPS $0.04 vs $-0.02 Est; Revenues $477.6M vs $447.37M 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 0.02%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.23%
  • Natural Gas futures are trading 1.16% lower and copper is trading lower by about 0.06%
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 1338 1323 1315 1300 1292
Gold 1594 1579 1555 1540 1516
Crude 91.51 89.48 88.38 86.35 85.25
Natural Gas 2.56 2.50 2.44 2.39 2.33
EUR/USD 1.2521 1.2443 1.2400 1.2324 1.2283
US Dollar Index 83.55 83.36 82.95 82.78 82.40


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Latest Ratings for JOY

DateFirmActionFromTo
Nov 2014Brean CapitalInitiates Coverage onHold
Oct 2014BarclaysMaintainsEqual-weight
Oct 2014Bank of America

View More Analyst Ratings for JOY
View the Latest Analyst Ratings

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

 

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