Financial Breakfast: Morning News Summary for July 20, 2012

Benzinga's Top News

DIRECTV DTV and Viacom VIA Reach Agreement for Return of Viacom's 17 Channels

General Electric GE Reported Q2 EPS $0.38 vs $0.37 Est; Revenues $36.5B vs $36.80B Est

Yesterday, Google GOOG Reported Q2 EPS $10.12 vs $10.04 Est; Revenues $8.42B vs $8.41B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade down as Dow futures trade lower about 39 points.
• U.S. Dollar trades about 0.28% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 fell 0.55%, Germany's DAX slid 0.27% and France's CAC 40 dropped 0.76% on the session.
• Asian stocks ended the session mixed. China's Shanghai slid 0.74%, Japan's Nikkei 225 fell 1.43%, and the Hong Kong's Hang Seng Market advanced 0.42%.

Upgrades/Downgrades

• JP Morgan Upgrades eBay EBAY from Neutral to Overweight, Raises PT from $39 to $50

• Canaccord Downgrades Advanced Micro Devices AMD from Buy to Hold, Lowers PT from $7 to $5

On the Economic Calendar

No Major Economic Events Today

Earnings

• General Electric GE Reported Q2 EPS $0.38 vs $0.37 Est; Revenues $36.5B vs $36.80B Est
• Xerox XRX Reported Q2 EPS $0.26 vs $0.26 Est; Revenues $5.5B vs $5.59B Est
• American Electric Power AEP Reported Q2 EPS $0.77 vs $0.71 Est; Revenues $3.6B vs $3.58B Est
• Yesterday, Google GOOG Reported Q2 EPS $10.12 vs $10.04 Est; Revenues $8.42B vs $8.41B Est

Corporate News

• DIRECTV DTV and Viacom VIA Reach Agreement for Return of Viacom's 17 Channels
• Chevron CVX Awards Long-Term Service Agreement for Gorgon Project in Australia to GE GE
• Sanofi SNY and Regeneron REGN Launch Comprehensive Phase 3 Clinical Program With LDL Cholesterol-Lowering PCSK9 Antibody

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.11%
• Energy futures are trading lower, with crude oil posting early losses of about 1.27%
• Natural Gas futures are trading flat and copper is trading down by about 1.64%

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