Market Overview

Financial Breakfast: Morning News Summary for August 1, 2012

Wednesday, August 1, 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

Comcast (NASDAQ: CMCSA) Reports Q2 EPS $0.50 vs $0.48 Est; Revenues $15.2B vs $15.20B Est</li> Garmin (NASDAQ: GRMN) Reports Q2 EPS $0.98 vs $0.67 Est; Revenues $718.2M vs $686.45M Est</li> </ul>

Domestic Pre-Market Trading

  • U.S. Equity Markets trade up as Dow futures trade higher about 43 points.
  • U.S. Dollar trades about 0.02% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are mixed in afternoon trading. Britain's FTSE 100 added 0.77%, Germany's DAX slid 0.21% and France's CAC 40 advanced 0.56% on the session.
  • Asian stocks ended the session mixed. China's Shanghai gained 0.94%, Japan's Nikkei 225 slid 0.61%, and the Hong Kong's Hang Seng Market added 0.12%.
  • Spanish and Italian manufacturing PMI's beat expectations while French, German, and British PMI's missed expectations, showing that the global slowdown is now affecting the core European nations.
To see more overseas news, click here.

Upgrades/Downgrades

  • Wells Fargo Upgrades Arkansas Best (NASDAQ: ABFS) from Underperform to Market Perform
To see more of today's upgrades, click here.
  • Jefferies & Company Downgrades Coach (NYSE: COH) from Buy to Hold, Lowers PT from $92 to $55
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:15 ET - ADP Nonfarm Employment Change
  • 09:00 - Manufacturing PMI
  • 10:00 - Construction Spending (MoM)
  • 10:00 - ISM Manufacturing Index
  • 10:30 - Crude Oil Inventories
  • 14:15 - FOMC Statement
  • 14:15 - Interest Rate Decision
To see more economic news, click here

Earnings

  • Comcast (NASDAQ: CMCSA) Reports Q2 EPS $0.50 vs $0.48 Est; Revenues $15.2B vs $15.20B Est
  • Harley-Davidson (NYSE: HOG) Reports Q2 EPS $1.07 vs $1.05 Est; Revenues $1.57B vs $1.63B Est
  • Garmin (NASDAQ: GRMN) Reports Q2 EPS $0.98 vs $0.67 Est; Revenues $718.2M vs $686.45M Est
  • Avon Products (NYSE: AVP) Reports Q2 EPS $0.20 vs $0.21 Est; Revenues $2.59B vs $2.66B Est
  • Time Warner (NYSE: TWX) Reports Q2 EPS $0.59 vs $0.58 Est; Revenues $6.74B vs $6.95B Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.22%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.42%
  • Natural Gas futures are trading down about 1.03% and copper is trading down by about 0.29%
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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