Financial Breakfast: Morning News Summary for June 26, 2012

Benzinga's Top News

• Coca-Cola KO Targeting Additional $3B Investment in India
• Yesterday, Moody's Downgraded 28 Spanish Banks Long-Term Debt and Deposit Ratings

Domestic Pre-Market Trading

• U.S. Equity Markets trade up as Dow futures trade higher about 36 points.
• U.S. Dollar trades about 0.15% lower.

Overseas Trading

• European markets are slightly higher in afternoon trading. Britain's FTSE 100 added 0.18%, Germany's DAX gained 0.13% and France's CAC 40 advanced 0.10% on the session.
• Asian stocks ended the session mixed. China's Shanghai fell 0.10%, Japan's Nikkei 225 lost 0.81%, and Hong Kong's Hang Seng added 0.45%.
• Yesterday, Moody's Downgraded 28 Spanish Banks Long-Term Debt and Deposit Ratings

Upgrades/Downgrades

• Goldman Sachs Upgrades JPMorgan Chase JPM from Buy to CL-Buy

• Goldman Sachs Downgrades Morgan Stanley MS from CL-Buy to Neutral, Lowers PT to $16

On the Economic Calendar

• 08:55 a.m. ET - Redbook (MoM)
• 09:00 - S&P/CS Home Price Indices Composite
• 10:00 - Richmond Manufacturing Index
• 10:00 - CB Consumer Confidence
• 11:30 - 52-Week Bill Auction
• 11:30 - 4-Week Bill Auction
• 13:00 - 2-Year Note Auction

Earnings

• Yesterday, Apollo Group APOL Reports Q3 EPS $1.20 vs $0.97 Est; Revenues $1.13B vs $1.12B Est

Corporate News

• Coca-Cola KO Targeting Additional $3B Investment in India
• SBA Communications SBAC Agrees to Acquire 3,252 Towers From TowerCo for $1.45 billion
• Digital Realty DLR Enters into Share Sale and Purchase Agreement for a Three-Property Data Center Portfolio in London, UK for $1.1B

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.19%
• Energy futures are trading higher, with crude oil posting early gains of about 0.18%
• Natural Gas futures are trading 0.26% higher and copper is trading lower by about 0.02%

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	1331	1319	1310	1299	1291
Gold	1602	1593	1580	1571	1558
Crude	81.51	80.39	79.30	78.09	76.91
Natural Gas	2.75	2.71	2.68	2.64	2.62
EUR/USD	1.2569	1.2536	1.2503	1.2470	1.2437
US Dollar Index	82.96	82.79	82.65	82.48	82.35

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