Financial Breakfast: Morning News Summary for December 28, 2011
Posted in: Earnings, News, Futures, Guidance, Upgrades, Commodities, Downgrades, Forex, Technicals, Buybacks, Asset Sales, M&A, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Wednesday, December 28, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• 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 (NYSE: FNF) to sell 85% of personal-lines insurance business for $119 million.
- Medicis (NYSE: 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.
To see more pre-market news, click here.
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%
To see more overseas news, click here.
Upgrades/Downgrades
- Oppenheimer upgrades VMware (NYSE: VWM) to Outperform
To see more of today's upgrades, click here.
- CLSA downgrades Paychex (NASDAQ: PAYX) to Sell
To see more of today's downgrades, click here.
On the Economic Calendar
-
No Major Economic Data
To see more economic news, click here
Earnings
-
No Major Earnings this Morning
To see more earnings announcements, click here.
Corporate News
- Arctic Cat announces cash buyback of 6.1 million Class B shares from Suzuki Motor.
- Fidelity (NYSE: FNF) to sell 85% of personal-lines insurance business for $119 million.
- Medicis (NYSE: 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.
To see more corporate news, click here.
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%
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 | 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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