Financial Breakfast: Morning News Summary for December 13, 2011
Posted in: Earnings, News, Futures, Guidance, Upgrades, Commodities, Downgrades, Forex, Technicals, M&A, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Tuesday, December 13, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• The first form of the stock market in New York started in 1792 with just 24 stock brokers meeting in the Tontine Coffee House on the corner of Wall and Water Streets.
Benzinga's Top News
- The Pantry (NASDAQ PTRY) reports Q4 EPS $0.37 vs $0.55 Est; Revenues $2.18B vs $2.27B Est
- Alexza Pharmaceuticals (Nasdaq: ALXA) announced that the FDA voted to recommend that ADASUVE be approved for use as a single dose in 24 hours when used with the FDA recommended Risk Evaluation and Mitigation Strategy.
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade up about 60 points.
- U.S. Dollar trades about 0.11% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.66%, Germany's DAX gained 0.73% and France's CAC 40 added 0.18% on the session.
- Asian stocks ended the session lower. China's Shanghai lost 1.9%, Japan's Nikkei 225 slid 1.2% and Hong Kong's Hang Seng Index fell 0.7%.
To see more overseas news, click here.
Upgrades/Downgrades
- Jefferies upgrades Panera Bread (NASDAQ: PNRA) to Buy, PT $165
- Goldman Sachs upgrades Masco (NYSE: MAS) to Neutral
To see more of today's upgrades, click here.
- Citigroup downgrades Legg Mason (NYSE: LM) to Neutral, Cuts PT to $27
- Jefferies downgrades St. Jude Medical (NYSE: STJ) to Hold/li>
To see more of today's downgrades, click here.
On the Economic Calendar
- Advanced Retail Sales are set to report at 8:30 a.m. ET.
- Business Inventories are due at 10:00 a.m.
- FOMC Rate Decision is to report at 2:15 p.m.
To see more economic news, click here
Earnings
- FactSet Research (NYSE: FDS) reports Q1 EPS $1.10 vs $0.99 Est; Revenues $196.40M vs $197.15M Est
- The Pantry (NASDAQ PTRY) reports Q4 EPS $0.37 vs $0.55 Est; Revenues $2.18B vs $2.27B Est
To see more earnings announcements, click here.
Corporate News
- Penn Virginia (NYSE: PVA) provides guidance; expects Q4 production at 10.7-11.0 Bcfe vs 12.2-12.7 Bcfe prior
- Alexza Pharmaceuticals (Nasdaq: ALXA) announced that the FDA voted to recommend that ADASUVE be approved for use as a single dose in 24 hours when used with the FDA recommended Risk Evaluation and Mitigation Strategy.
- Hecla Mining (NYSE: HL) announced that is has acquired the remaining 30% interest in the San Juan Silver project at Creede.
To see more corporate news, click here.
Commodities
- Precious metals are trading flat, with gold posting gains of about 0.02%
- Energy futures are trading higher, with crude oil posting gains of about 0.54%
- Natural Gas futures are higher by about 0.5% and copper is trading lower by about 1%
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 | 12230 | 12087 | 11975 | 11833 | 11722 |
| E-Mini S&P 500 | 1264 | 1246 | 1233 | 1216 | 1202 |
| Gold | 1710 | 1689 | 1675 | 1654 | 1639 |
| Crude | 99.91 | 98.89 | 98.23 | 97.20 | 96.53 |
| Natural Gas | 3.30 | 3.27 | 3.24 | 3.21 | 3.19 |
| EUR/USD | 1.3429 | 1.3307 | 1.3234 | 1.3113 | 1.3040 |
| USD/JPY | 78.25 | 78.08 | 77.84 | 77.66 | 77.41 |
| US Dollar Index | 81.00 | 80.62 | 79.98 | 79.60 | 78.96 |
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