Financial Breakfast: Morning News Summary for July 23, 2012

Benzinga's Top News

Halliburton HAL Reported Q2 EPS $0.82 vs $0.75 Est; Revenues $7.2B vs $6.96B Est

Hasbro HAS Reported Q2 EPS $0.18 vs $0.23 Est; Revenues $811.5M vs $830.09M Est

CNOOC Limited CEO Enters Into Definitive Agreement to Acquire Nexen NXY for $27.50/Share

Genesee & Wyoming GWR Enters Into Agreement to Acquire RailAmerica RA for $27.50/Share

Domestic Pre-Market Trading

• U.S. Equity Markets trade down as Dow futures trade lower about 140 points.
• U.S. Dollar trades about 0.28% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 fell 1.78%, Germany's DAX slid 1.67% and France's CAC 40 dropped 2.01% on the session.
• Asian stocks ended the session lower. China's Shanghai slid 1.26%, Japan's Nikkei 225 fell 1.86%, and the Hong Kong's Hang Seng Market dropped 2.99%.

Upgrades/Downgrades

• Piper Jaffray Upgrades Aeropostale ARO from Neutral to Overweight, Raises PT from $20 to $24

• ISI Group Downgrades Athenahealth ATHN from Overweight to Market Weight, Raises PT from $94 to $10

On the Economic Calendar

No Major Economic Events Today

Earnings

• Halliburton HAL Reported Q2 EPS $0.82 vs $0.75 Est; Revenues $7.2B vs $6.96B Est
• Eaton ETN Reported Q2 EPS $1.15 vs $1.09 Est; Revenues $4.1B vs $4.24B Est
• Hasbro HAS Reported Q2 EPS $0.18 vs $0.23 Est; Revenues $811.5M vs $830.09M Est

Corporate News

• CNOOC Limited CEO Enters Into Definitive Agreement to Acquire Nexen NXY for $27.50/Share
• Genesee & Wyoming GWR Enters Into Agreement to Acquire RailAmerica RA for $27.50/Share
• The Wet Seal WTSLA Announces CEO Departure; Lowers Second Quarter EPS Guidance
• DigitalGlobe DGI and GeoEye GEOY Agree to Merge; Trasaction Valued at $900M

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.70%
• Energy futures are trading lower, with crude oil posting early losses of about 2.77%
• Natural Gas futures are trading down about 0.62% and copper is trading down by about 2.7%

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