Financial Breakfast: Morning News Summary for November 23, 2011

Wednesday, November 23, 2011

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Bruker (NASDAQ: BRKR) and Symphony Environmental Sign Agreement on X-Ray Fluorescence Technology Enabling Identification of the Components of Plastic ReneSola (NYSE: SOL) Reports 3Q EPS per ADS $(0.09) vs $(0.11) Est; Revenues $189.12M vs $221.76M Est Deere & Co (NYSE: DE) Reports Q4 EPS $1.62 vs $1.43 Est; Revenues $7.90B vs $7.87B Est Level 3 (NYSE: LVLT) Completes Sale of Coal Mining Operations

</ul>

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower with Dow Futures down about 73 points.
• U.S. Dollar trades about 0.64% higher.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.52%, Germany's DAX gained 0.6% and France's CAC 40 declined by 0.03% on the session.
• Asian stocks ended the session lower. China's Shanghai fell 0.73%, Japan's Nikkei 225 lost 0.4% and Hong Kong's Hang Seng Index lost 2.12 %.

Upgrades/Downgrades

• Bank of America upgrades Medtronic (NYSE: MDT) to Buy, $42 PT
• Wells Fargo upgrades JA Solar (NASDAQ: JASO) to Market Perform

• JP Morgan downgrades Valspar (NYSE: VAL) to Neutral, PT lowered to $37
• Bank of America downgrades WGL Holdings (NYSE: WGL) to Underperform, PO lowered to $9

On the Economic Calendar

• MBA Mortgage Applications came in at -1.2%.
• Personal Income, Personal Spending, Initial Jobless Claims, Continuing Claims are set to come in at 8:30am.

Earnings

• ReneSola (NYSE: SOL) Reports 3Q EPS per ADS $(0.09) vs $(0.11) Est; Revenues $189.12M vs $221.76M Est
• Deere & Co (NYSE: DE) Reports Q4 EPS $1.62 vs $1.43 Est; Revenues $7.90B vs $7.87B Est

Corporate News

• Nokia Siemens Networks (NYSE: NOK) (NYSE: SI) announced that it has initiated restructuring plans, planning a global workforce reduction of about 17,000.
• Aeterna Zentaris (NASDAQ: AEZS) and Hikma Pharmaceuticals announced that they have signed an agreement for the registration and marketing of an anti-cancer compound.
• Bruker Corp (NASDAQ: BRKR) and Symphonay Environmental announced that signed an agreement to develop plastic additives in an attempt to increase the material's efficacy.
• Level 3 Communications (NYSE: LVLT) announced that it has completed the sale of its coal mining operations in an attempt to focus more on core operations.
• Jefferies reiterated its buy rating on Diamond Foods (NASDAQ: DMND), depite one of its own former committee members at Diamond Foods committed suicide.

Commodities

• Precious metals are trading lower, with gold posting losses of about 0.6%
• Energy futures are trading lower, with crude oil posting losses of about 1.6%
• Natural Gas futures are lower by about 1% and copper is trading lower by about 2.5%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	11656	11551	11478	11364	11300
E-Mini S&P500	1206	1194	1186	1173	1167
Gold	1720	1710	1696	1686	1672
Crude	99.76	98.75	97.70	95.64	96.69
Natural Gas	3.50	3.46	3.41	3.37	3.32
EUR/USD	1.3467	1.3434	1.3400	1.3389	1.3356
USD/JPY	77.59	77.40	77.21	76.99	76.79
US Dollar Index	78.84	78.63	78.40	78.19	77.96

Subscribe here to receive it daily to your inbox!

Received this from a friend? Subscribe to receive it daily!

</div>