Financial Breakfast: Morning News Summary for June 4, 2012

Benzinga's Top News

Conn's CONN Reports Q1 EPS $0.35 vs $0.33 Est; Revs $200.9M vs $202.1M Est; Raises FY2013 EPS View

Salesforce.com CRM Signs Definitive Agreement to Acquire Buddy Media for $689M

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade lower about 5 points.
• U.S. Dollar trades about 0.14% lower.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 closed, Germany's DAX declined 0.75% and France's CAC 40 added 0.71% on the session.
• Asian stocks ended the session lower as well. China's Shanghai slid 2.69%, Japan's Nikkei 225 declined 1.71%, and Hong Kong's Hang Seng fell 2.01%.

Upgrades/Downgrades

• Piper Jaffray Upgrades Inphi Corporation IPHI from Neutral to Overweight, Maintains $12 PT
• Societe Generale Upgrades Pioneer Natural Resources PNR from Sell to Hold, Maintains $92 PT

• Citigroup Downgrades Charles Schwab SCHW from Buy to Neutral, PT Lowered from $20 to $13
• Citigroup Downgrades TD Ameritrade AMTD from Buy to Neutral, PT Lowered from $22 to $18

On the Economic Calendar

• 09:45 a.m. ET - New York NAPM
• 10:00 - CB Employment Trends Index
• 10:00 - Factory Orders (MoM)
• 11:30 - 6-Month Bill Auction
• 11:30 - 3-Month Bill Auction

Earnings

• Conn's CONN Reports Q1 EPS $0.35 vs $0.33 Est; Revs $200.9M vs $202.1M Est; Raises FY2013 EPS View

Corporate News

• Salesforce.com CRM Signs Definitive Agreement to Acquire Buddy Media for $689M
• Entertainment Gaming Asia EDT Announces 1-for-4 Reverse Stock Split Effective June 12, 2012

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.10%
• Energy futures are trading lower, with crude oil posting early losses of about 1.2%
• Natural Gas futures are trading 2.32% higher and copper is trading lower by about 0.71%

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	1315	1294	1284	1263	1252
Gold	1688	1657	1601	1571	1515
Crude	88.28	85.77	84.03	81.52	79.78
Natural Gas	2.41	2.37	2.34	2.30	2.27
EUR/USD	1.2563	1.2497	1.2392	1.2327	1.2222
US Dollar Index	84.06	83.48	83.09	82.51	82.12

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