Financial Breakfast: Morning News Summary for October 28, 2011
Posted in: Earnings, News, Futures, Upgrades, Commodities, Downgrades, Forex, Technicals, M&A, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Tech, Trading Ideas, General, Best of Benzinga
Friday, October 28, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
- Whirlpool Corp (NYSE: WHR) Reported Q3 EPS $2.35 vs $2.75 Est; Revenues $4.63B vs $4.73B Est
- Merck & Co (NYSE: MRK) Reported Q3 EPS $0.94 vs $0.91 Est; Revenues $12.02B vs $11.61B Est
- Yesterday, HP (NYSE: HPQ) announced that it has completed its evaluation of strategic alternatives for its PC business and has decided the unit will remain part of the company.
Domestic Pre-Market Trading
- U.S. Equity Markets trade slightly lower with Dow Futures down over 60 points.
- U.S. Dollar trades about 0.3% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.12%, Germany's DAX added 0.35% and France's CAC 40 lost 0.2% on the session.
- Asian stocks ended the session higher. China's Shanghai gained 1.55%, Japan's Nikkei 225 added 1.4% and Hong Kong's Hang Seng Index jumped 1.7%.
To see more overseas news, click here.
Upgrades/Downgrades
- First Global upgraded Eli Lilly (NYSE: LLY) to Market Perform
- Wunderlich upgraded WCA Waste (NASDAQ: WCAA) to Buy
To see more of today's upgrades, click here.
- Jefferies downgraded Intuit (NASDAQ: INTU) to Hold
- Morgan Stanley downgraded McDermott (NYSE: MDR) to Underweight
To see more of today's downgrades, click here.
On the Economic Calendar
- The Employment Cost Index, PCE Deflator, Personal Income and Spending are set to be reported at 8:30 a.m. ET.
- University of Michigan Confidence Index is due at 9:55 a.m.
To see more economic news, click here
Earnings
- Whirlpool Corp (NYSE: WHR) Reported Q3 EPS $2.35 vs $2.75 Est; Revenues $4.63B vs $4.73B Est
- Shire (NASDAQ: SHPGY) Reported Q3 EPS $1.28 vs $1.30; Revenues $1.09B vs $1.07B
- Biogen Idec (NASDAQ: BIIB) Reported Q3 EPS $1.43 vs $1.53 Est; Revenues $1.31B vs $1.27B Est
- Merck & Co (NYSE: MRK) Reported Q3 EPS $0.94 vs $0.91 Est; Revenues $12.02B vs $11.61B Est
To see more earnings announcements, click here.
Corporate News
- E-House (NYSE: EJ) submits non-binding proposal to acquire all outstanding shares of China Real Estate Information (NASDAQ: CRIC) for $1.60 per share plus stock.
- Dawson Geophysical (NASDAQ: DWSN) announced that TGC Industries (NASDAQ: TGE) has terminated the definitive merger agreement pursuant to which Dawson would have acquired TGC in a tax-free stock-for-stock transaction.
- Yesterday, HP (NYSE: HPQ) announced that it has completed its evaluation of strategic alternatives for its PC business and has decided the unit will remain part of the company.
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.5%
- Energy futures are trading lower, with crude oil posting losses of about 2%
- Natural Gas futures are higher by about 1.5% and copper is trading lower by about 1.75%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and Forex
| Name | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
| E-Mini Dow | 12492 | 12334 | 12070 | 11912 | 11648 |
| E-Mini S&P500 | 1321 | 1302 | 1270 | 1250 | 1218 |
| Gold | 1779 | 1762 | 1734 | 1718 | 1691 |
| Crude | 96.50 | 95.23 | 92.99 | 91.72 | 89.48 |
| Natural Gas | 3.99 | 3.89 | 3.73 | 3.62 | 3.46 |
| EUR/USD | 1.4482 | 1.4335 | 1.4099 | 1.3952 | 1.3716 |
| USD/JPY | 76.58 | 76.26 | 75.95 | 75.63 | 75.33 |
| US Dollar Index | 77.06 | 76.07 | 75.46 | 74.47 | 73.86 |
(c) 2012 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We're Loving
