Financial Breakfast: Morning News Summary for December 7, 2011
Posted in: Earnings, News, Futures, Upgrades, Commodities, Downgrades, Financing, Forex, Technicals, Offerings, M&A, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Wednesday, December 7, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• The first stock tickers and ticker tapes were used in 1867.
Benzinga's Top News
- JC Penney (NYSE: JCP) is planning to announce that it is going to acquire a 16.6% stake in Martha Stewart Living Omnimedia (NYSE: MSO) for approximately $38.5M.
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade about 47 points higher.
- U.S. Dollar trades about 0.16% higher.
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 0.43% and France's CAC 40 added 0.78% on the session.
- Asian stocks ended the session higher. China's Shanghai added 0.38%, Japan's Nikkei 225 jumped 1.7% and Hong Kong's Hang Seng Index gained 1.58%.
To see more overseas news, click here.
Upgrades/Downgrades
- Deutsche Bank upgrades Dollar General (NYSE: DG) to Buy, Adjusts PT to $48
- Goldman Sachs upgrades Duke Energy (NYSE: DUK) to Buy
To see more of today's upgrades, click here.
- Goldman Sachs downgrades Public Service Enterprise Group (NYSE: PEG) to Neutral
- Sterne Agee downgrades Resolute Energy (NYSE: REN) to Underperform
To see more of today's downgrades, click here.
On the Economic Calendar
- MBA Mortgage Applications came in at 12.8% from a -11.7% prior reading.
To see more economic news, click here
Earnings
- China BAK (NASDAQ: CBAK) reports Q4 EPS $(0.15); Revenues $61.58M vs $56.11M Est
To see more earnings announcements, click here.
Corporate News
- The Scotts Miracle-Gro Company (NYSE: SMG) reiterated its outlook for fiscal 2012, although it expects results for its Q1 to be materially below the comparable period from fiscal 2011.
- According to the Dealreporter article, JC Penney (NYSE: JCP) is planning to announce that it is going to acquire a 16.6% stake in Martha Stewart Living Omnimedia (NYSE: MSO) for approximately $38.5M.
- Gilead Sciences (Nasdaq: GILD) announced the pricing of senior unsecured notes in an aggregate principal amount of $3.7 billion in a registered public offering, consisting of four tranches.
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.24%
- Energy futures are trading lower, with crude oil posting loses of about 0.21%
- Natural Gas futures are lower by about 0.5% and copper is trading lower by about 0.2%
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 | 12308 | 12209 | 12108 | 12009 | 11908 |
| E-Mini S&P 500 | 1274 | 1264 | 1255 | 1245 | 1236 |
| Gold | 1756 | 1744 | 1725 | 1713 | 1694 |
| Crude | 102.16 | 101.67 | 100.94 | 100.45 | 99.72 |
| Natural Gas | 3.57 | 3.53 | 3.47 | 3.43 | 3.36 |
| EUR/USD | 1.3481 | 1.3441 | 1.3386 | 1.3346 | 1.3292 |
| USD/JPY | 77.92 | 77.82 | 77.72 | 77.62 | 77.52 |
| US Dollar Index | 79.16 | 78.89 | 78.69 | 78.43 | 78.25 |
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