Financial Breakfast: Morning News Summary for December 20, 2011
Posted in: Earnings, News, Futures, Guidance, Upgrades, Commodities, Downgrades, Forex, Technicals, Contracts, FDA, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Tuesday, December 20, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• 500% - The amount the stock market grew between 1982 and 1993 in terms of capitalization.
Benzinga's Top News
- General Mills (NYSE: GIS) reports Q2 EPS $0.76 vs $0.79 Est; Revenues $4.62B vs $4.60B Est
- ImmunoGen (NASDAQ: IMGN) Announces Antibody-Drug Conjugate Collaboration With Lilly (NYSE: LLY)
- Salix (NASDAQ: SLXP) and Progenics (NASDAQ: PGNX) Announce Positive Highly Statistically Significant Results of Oral Methylnaltrexone for Phase 3 Trial in Chronic.
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade up about 70 points.
- U.S. Dollar trades about 0.37% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.25%, Germany's DAX added 0.8% and France's CAC 40 gained 0.9% on the session.
- Asian stocks ended the session mixed as well. China's Shanghai lost 0.12%, Japan's Nikkei 225 added 0.49% and Hong Kong's Hang Seng Index gained 0.06%.
To see more overseas news, click here.
Upgrades/Downgrades
- Oppenheimer upgrades F5 Networks (NASDAQ: FFIV) to Outperform
- Jefferies upgrades OGE (NYSE: OGE) Energy to Buy
To see more of today's upgrades, click here.
- Piper Jaffray resumes coverage on AT&T (NYSE: T), Downgrades to Neutral
- Bank of America has downgraded ManpowerGroup (NYSE: MAN) to Neutral
To see more of today's downgrades, click here.
On the Economic Calendar
- Housing Starts and Building Permits are set to report at 8:30 a.m. ET
To see more economic news, click here
Earnings
- General Mills (NYSE: GIS) reports Q2 EPS $0.76 vs $0.79 Est; Revenues $4.62B vs $4.60B Est
- Navistar International (NYSE: NAV) reports Q4 EPS $3.37 vs $3.08 Est; Revenues $4.32B vs $4.45B Est
To see more earnings announcements, click here.
Corporate News
- ImmunoGen (NASDAQ: IMGN) Announces Antibody-Drug Conjugate Collaboration With Lilly (NYSE: LLY)
- Salix (NASDAQ: SLXP) and Progenics (NASDAQ: PGNX) Announce Positive Highly Statistically Significant Results of Oral Methylnaltrexone for Phase 3 Trial in Chronic.
To see more corporate news, click here.
Commodities
- Precious metals are trading higher, with gold posting gains of about 0.58%
- Energy futures are trading higher, with crude oil posting gains of about 1%
- Natural Gas futures are higher by about 0.45% and copper is trading higher by about 0.57%
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 | 11935 | 11818 | 11739 | 11622 | 11543 |
| E-Mini S&P 500 | 1228 | 1213 | 1204 | 1189 | 1180 |
| Gold | 1621 | 1608 | 1598 | 1586 | 1576 |
| Crude | 95.74 | 94.97 | 93.88 | 93.13 | 92.02 |
| Natural Gas | 3.17 | 3.14 | 3.09 | 3.07 | 3.02 |
| EUR/USD | 1.3070 | 1.3030 | 1.3009 | 1.2976 | 1.2954 |
| USD/JPY | 78.19 | 78.11 | 77.97 | 77.89 | 77.75 |
| US Dollar Index | 81.14 | 81.03 | 80.85 | 80.74 | 80.57 |
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