Financial Breakfast: Morning News Summary for June 28, 2012

Benzinga's Top News

Family Dollar Stores FDO Reports Q3 EPS $1.06 vs $1.07 Est; Revenues $2.36B vs $2.37B Est

Vertex VRTX Announces Final Data from Phase 2 Combination Study of VX-809 and KALYDECO Showed Statistically Significant Improvements

Domestic Pre-Market Trading

• U.S. Equity Markets trade down as Dow futures trade lower about 70 points.
• U.S. Dollar trades about 0.08% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 dropped 0.90%, Germany's DAX slid 0.83% and France's CAC 40 fell 0.84% on the session.
• Asian stocks ended the session mixed. China's Shanghai fell 0.95%, Japan's Nikkei 225 advanced 1.65%, and Hong Kong's Hang Seng slid 0.79%.

Upgrades/Downgrades

• JP Morgan Upgrades Orexigen Therapeutics OREX from Neutral to Overweight, Maintains PT at $10

• Citigroup Downgrades Actuant ATU from Buy to Neutral, Lowers PT from $33 to $29

On the Economic Calendar

• 08:30 a.m. ET - GDP (QoQ)
• 08:30 - Initial, Continuing Jobless Claims
• 10:30 - Natural Gas Storage
• 11:00 - KC Fed Manufacturing
• 12:00 - FOMC Member Fisher Speaks
• 13:00 - 7-Year Note Auction

Earnings

• Family Dollar Stores FDO Reports Q3 EPS $1.06 vs $1.07 Est; Revenues $2.36B vs $2.37B Est
• Greenbriers GBX Reports Q3 EPS $0.61 vs $0.60 Est; Revenues $507.8M vs $519.39M Est

Corporate News

• Vertex VRTX Announces Final Data from Phase 2 Combination Study of VX-809 and KALYDECO Showed Statistically Significant Improvements
• Shire's SHPGY VPRIV Shows Significant Improvement in Gaucher-Related Bone Disease
• Lawson Products LAWS Announces Strategic Restructuring

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.49%
• Energy futures are trading higher, with crude oil posting early gains of about 0.25%
• Natural Gas futures are trading 0.64% higher and copper is trading lower by about 0.18%

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	1336	1331	1322	1317	1307
Gold	1596	1586	1574	1564	1553
Crude	82.26	81.35	80.02	79.11	77.78
Natural Gas	3.04	2.90	2.83	2.69	2.62
EUR/USD	1.2532	1.2499	1.2472	1.2439	1.2412
US Dollar Index	83.13	82.95	82.72	82.54	82.32

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