Financial Breakfast: Morning News Summary for December 23, 2011

• • • The oldest stock certificate was found in the Netherlands by a graduate student working on his thesis.

Benzinga's Top News

• Qualcomm QCOM Announces FCC Approval of Sale of 700 MHz Spectrum Licenses to AT&T T; Originally Announced for $1.925B, Now Subject to Conditions.
• Shutterfly SFLY Provides Preliminary Q4 Revs of $259-$264M from $270.5-$275.5M Prior and vs $267.7M Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 50 points.
• U.S. Dollar trades about 0.16% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 gained 1%, Germany's DAX added 0.44% and France's CAC 40 gained 1.25% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 0.85%, Japan's Nikkei 225 was closed and Hong Kong's Hang Seng Index gained 1.37%.

Upgrades/Downgrades

• Barrington Research upgrades Walgreen WAG to Outperform

• CLSA downgrades Paychex PAYX to Sell

On the Economic Calendar

• Durable Goods Orders, Personal Income and Personal Spending are set to report at 8:30 a.m. ET
• New Home Sales are due at 10:00 a.m.

Earnings

No Major Earnings this Morning

Corporate News

• Qualcomm QCOM Announces FCC Approval of Sale of 700 MHz Spectrum Licenses to AT&T T; Originally Announced for $1.925B, Now Subject to Conditions.
• Shutterfly SFLY Provides Preliminary Q4 Revs of $259-$264M from $270.5-$275.5M Prior and vs $267.7M Est

Commodities

• Precious metals are trading flat, with gold posting losses of about 0.02%
• Energy futures are trading higher, with crude oil posting gains of about 0.33%
• Natural Gas futures are lower by about 1.2% and copper is trading higher by about 1.5%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12193	12150	12074	12030	11955
E-Mini S&P 500	1262	1255	1244	1237	1226
Gold	1627	1617	1608	1597	1588
Crude	100.89	100.18	99.35	98.64	97.81
Natural Gas	3.25	3.20	3.15	3.10	3.05
EUR/USD	1.3260	1.3153	1.3088	1.2981	1.2916
US Dollar Index	80.78	80.52	80.23	79.97	79.68

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