Financial Breakfast: Morning News Summary for December 6, 2011
Posted in: Earnings, News, Futures, Guidance, Upgrades, Commodities, Downgrades, Forex, Technicals, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Tuesday, December 6, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
The first publicly traded securities in the United States were $80 million in U.S. government bonds, issued in 1790 to refinance Revolutionary War debt.
Benzinga's Top News
- Autozone (NYSE: AZO) reports Q1 EPS $4.68 vs $4.44 Est; Revenues $1.92B vs $1.89B Est
- Toll Brothers (NYSE: TOL) reports Q4 EPS $0.09 vs $0.06 Est; Revenues $427.80M vs $424.10M Est
- 3M Affirms 2011 EPS Expectations; Expects 2012 EPS $6.25-$6.50 vs $6.28 Est
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade about 45 points higher.
- U.S. Dollar trades about 0.03% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are mixed in afternoon trading. Britain's FTSE 100 added 0.26%, Germany's DAX lost 0.58% and France's CAC 40 slid 0.2% on the session.
- Asian stocks ended the session lower. China's Shanghai lost 0.3%, Japan's Nikkei 225 tumbled 1.4% and Hong Kong's Hang Seng Index slid 1.24%.
To see more overseas news, click here.
Upgrades/Downgrades
- JP Morgan upgrades LinkedIn (NASDAQ: LNDK) to Overweight, Lowers PT to $84
- Goldman Sachs upgrades Carter's (NYSE CRI) to Buy, PT Raised to $46
To see more of today's upgrades, click here.
- Goldman Sachs downgrades ADTRAN (NASDAQ: ADTN) to Sell, $29 PT
- Benchmark downgrades Valero Energy (NYSE: VLO) to Hold
To see more of today's downgrades, click here.
On the Economic Calendar
- IBD/TIPP Economic Optimism is set to report at 10:00 a.m. ET
To see more economic news, click here
Earnings
- Autozone (NYSE: AZO) reports Q1 EPS $4.68 vs $4.44 Est; Revenues $1.92B vs $1.89B Est
- Toll Brothers (NYSE: TOL) reports Q4 EPS $0.09 vs $0.06 Est; Revenues $427.80M vs $424.10M Est
- 3M Affirms 2011 EPS Expectations; Expects 2012 EPS $6.25-$6.50 vs $6.28 Est
To see more earnings announcements, click here.
Corporate News
- Darden Restaurants (NYSE: DRI) anticipates 2012 total sales growth of between +6.0% and +7.0% for the year based upon combined U.S. same-restaurant sales growth of approximately +2.0% to +3.0% for Red Lobster, Olive Garden and LongHorn Steakhouse and the opening of 80 to 90 net new restaurants.
- Zealand Pharma A/S announces that its partner Sanofi (NYSE: SNY) has reported positive top-line results from a Phase III study, GetGoal Duo 1, evaluating the efficacy and safety of lixisenatide (Lyxumia) in combination with Lantus.
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.67%
- Energy futures are trading flat, with crude oil posting gains of about 0.01%
- Natural Gas futures are lower by about 1% and copper is trading lower by about 2%
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 | 12256 | 12164 | 12090 | 11998 | 11924 |
| E-Mini S&P 500 | 1274 | 1264 | 1258 | 1247 | 1239 |
| Gold | 1763 | 1745 | 1733 | 1715 | 1702 |
| Crude | 103.28 | 101.91 | 101.15 | 99.71 | 98.88 |
| Natural Gas | 3.62 | 3.54 | 3.49 | 3.41 | 3.36 |
| EUR/USD | 1.3531 | 1.3466 | 1.3420 | 1.3354 | 1.3309 |
| USD/JPY | 78.21 | 78.01 | 77.84 | 77.64 | 77.47 |
| US Dollar Index | 79.08 | 78.87 | 78.57 | 78.36 | 78.05 |
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