Market Overview

Financial Breakfast: Morning News Summary for July 13, 2012

Friday, July 13, 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

  • JPMorgan (NYSE: JPM) Restates Q1, Restatement Will Reduce Firm's Reported Net Income for 2012 Q1 by $459M; $4.4B Pretax Loss, Or $0.69/Shr From CIO Trading Losses
  • Last Night, Moody's Downgraded Italy's Government Bond Rating To Baa2 From A3, Maintains Negative Outlook

Domestic Pre-Market Trading

  • U.S. Equity Markets trade up as Dow futures trade higher about 47 points.
  • U.S. Dollar trades about 0.04% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.62%, Germany's DAX advanced 1.05% and France's CAC 40 gained 0.53% on the session.
  • Asian stocks ended the session higher as well. China's Shanghai added 0.01%, Japan's Nikkei 225 advanced 0.05%, and the Hong Kong's Hang Seng Market gained 0.35%.
  • Last Night, Moody's Downgraded Italy's Government Bond Rating To Baa2 From A3, Maintains Negative Outlook
To see more overseas news, click here.

Upgrades/Downgrades

  • ISI Group Upgrades Marriott International (NYSE: MAR) from Hold to Buy, Lowers PT from $43 to $41
To see more of today's upgrades, click here.

  • Barclays Downgrades Total System Services (NYSE: TSS) from Overweight to Equal-weight
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 ET - PPI (MoM)
  • 09:55 - Michigan Consumer Sentiment
To see more economic news, click here

Earnings

  • JPMorgan (NYSE: JPM) Reports Q2 EPS $1.21 vs $0.72 Est; Revenues $22.9B vs $21.93B Est
  • iGate (NASDAQ: IGTE) Reports Q2 EPS $0.28 vs $0.29 Est; Revenues $268M vs $268.64M Est
To see more earnings announcements, click here.

Corporate News

  • JPMorgan (NYSE: JPM) Restates Q1, Restatement Will Reduce Firm's Reported Net Income for 2012 Q1 by $459M; $4.4B Pretax Loss, Or $0.69/Shr From CIO Trading Losses
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 1.15%
  • Energy futures are trading higher, with crude oil posting early gains of about 1.10%
  • Natural Gas futures are trading 0.49% lower and copper is trading up by about 1.76%
To see more commodities news, click here.



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

 

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