Financial Breakfast: Morning News Summary for November 29, 2011
Posted in: Earnings, News, Futures, Upgrades, Commodities, Downgrades, Financing, Forex, Technicals, Offerings, FDA, Legal, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General
Tuesday, November 29, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
The Wellington Fund, created in 1928, was the first mutual fund to include stocks and bonds.
Benzinga's Top News
- Cyber Monday sales in the United States is expected to jump 20% from last year to $1.2B.
- AMR Corporation (NYSE: AMR) filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court in New York.
- Tiffany & Co (NYSE: TIF) reports Q3 EPS $0.70 vs $0.61 Est; Revenues $821.8M vs $802.14M Est
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher with Dow Futures up about 55 points.
- U.S. Dollar trades about 0.4% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.22%, Germany's DAX gained 0.16% and France's CAC 40 added 0.4% on the session.
- Asian stocks ended the session higher as well. China's Shanghai added 1.26%, Japan's Nikkei 225 gained 2.3% and Hong Kong's Hang Seng Index added 1.2%.
To see more overseas news, click here.
Upgrades/Downgrades
- Jefferies upgrades United Natural Foods (NASDAQ: UNFI) to Buy
- Sterne Agee upgrades Susquehanna Bancshares (NASDAQ: SUSQ) to Buy, $9.50 PT
To see more of today's upgrades, click here.
- Sterne Agee downgrades Dillard's (NYSE: DDS) to Neutral, PT lowered to $47
- Jefferies downgrades Patterson-UTI Energy (NASDAQ: PTEN) to Hold, PT lowered to $22
To see more of today's downgrades, click here.
On the Economic Calendar
- S&P/Case Shiller Home Price Index is due at 9:00 a.m. ET
- Consumer Confidence and House Price Index is set to report at 10:00 a.m.
To see more economic news, click here
Earnings
- Tiffany & Co (NYSE: TIF) reports Q3 EPS $0.70 vs $0.61 Est; Revenues $821.8M vs $802.14M Est
To see more earnings announcements, click here.
Corporate News
- Cyber Monday sales in the United States is expected to jump 20% from last year to $1.2B.
- AMR Corporation (NYSE: AMR) filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court in New York.
- AT&T (NYSE: T) in discussions with Leap Wireless (NASDAQ: LEAP) in order to save T-Mobile Deal.
- Horizon Pharma (NASDAQ: HZNP) announced that the FDA has accepted for filing and review its New Drug Application for LODOTRA.
- Transocean (NYSE: RIG) announced that it has commenced a public offering of 26,000,000 of its shares to be newly issued utilizing Transocean's authorized share capital, subject to market and other conditions.
To see more corporate news, click here.
Commodities
- Precious metals are trading higher, with gold posting gains of about 0.1%
- Energy futures are trading flat, with crude oil posting gains of about 0.03%
- Natural Gas futures are higher by about 1% and copper is trading higher by about 0.5%
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 | 11662 | 11581 | 11460 | 11379 | 11258 |
| E-Mini S&P500 | 1210 | 1200 | 1186 | 1177 | 1163 |
| Gold | 1733 | 1723 | 1715 | 1706 | 1697 |
| Crude | 102.15 | 99.95 | 98.54 | 96.34 | 94.93 |
| Natural Gas | 3.79 | 3.67 | 3.59 | 3.47 | 3.39 |
| EUR/USD | 1.3455 | 1.3387 | 1.3329 | 1.3261 | 1.3203 |
| USD/JPY | 78.56 | 78.26 | 77.93 | 77.63 | 77.30 |
| US Dollar Index | 79.92 | 79.64 | 79.29 | 79.01 | 78.66 |
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