Financial Breakfast: Morning News Summary for December 28, 2011

• The largest bond (physically) is New York Cable Railway, which measures approximately 2 feet by 3 feet including coupons, $1000 denomination dated 1884.

Benzinga's Top News

• Arctic Cat announces cash buyback of 6.1 million Class B shares from Suzuki Motor.
• Fidelity FNF to sell 85% of personal-lines insurance business for $119 million.
• Medicis MRX raised guidance, now expects earnings of $2.35 to $2.41 per share this year on revenue of $711 million to $724 million, versus its earlier estimates of $2.33 to $2.39 in earnings and $728 million to $741 million in revenue.

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 30 points.
• U.S. Dollar trades about 0.02% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 gained 0.63%, Germany's DAX lost 0.02% and France's CAC 40 gained 0.51% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 0.19%, Japan's Nikkei 225 lost 0.2%, and Hong Kong's Hang Seng fell 0.59%

Upgrades/Downgrades

• Oppenheimer upgrades VMware VWM to Outperform

• CLSA downgrades Paychex PAYX to Sell

On the Economic Calendar

No Major Economic Data

Earnings

No Major Earnings this Morning

Corporate News

• Arctic Cat announces cash buyback of 6.1 million Class B shares from Suzuki Motor.
• Fidelity FNF to sell 85% of personal-lines insurance business for $119 million.
• Medicis MRX raised guidance, now expects earnings of $2.35 to $2.41 per share this year on revenue of $711 million to $724 million, versus its earlier estimates of $2.33 to $2.39 in earnings and $728 million to $741 million in revenue.

Commodities

• Precious metals are trading lower, with gold posting losses of about 0.23%
• Energy futures are trading lower, with crude oil posting losses of about 0.31%
• Natural Gas futures are lower by about 0.57% and copper is trading higher by about 0.88%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12294	12256	12221	12183	12148
E-Mini S&P 500	1268	1264	1260	1256	1252
Gold	1606	1600	1595	1589	1584
Crude	103.20	102.23	100.81	99.84	98.42
Natural Gas	3.22	3.16	3.12	3.06	3.02
EUR/USD	1.3095	1.3082	1.3069	1.3056	1.3043
US Dollar Index	80.33	80.23	80.13	80.04	79.94

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