Financial Breakfast: Morning News Summary for January 17, 2012
Posted in: News, Earnings, Upgrades, Futures, Guidance, Downgrades, Commodities, Forex, Technicals, FDA, Management, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, General, Best of Benzinga
Tuesday, January 17, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• Irving Fisher, a Yale economist, assured people that their money was safe on Wall Street days before the crash of 1929.
Benzinga's Top News
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Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade up about 94 points.
- U.S. Dollar trades about 0.7% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.56%, Germany's DAX gained 1.75% and France's CAC 40 advanced 1.22% on the session.
- Asian stocks ended the session higher. China's Shanghai jumped 4.1%, Japan's Nikkei 225 added 1.05%, and Hong Kong's Hang Seng gained 3.24%
To see more overseas news, click here.
Upgrades/Downgrades
- Brean Murray upgrades Rovi Corporation (NASDAQ: ROVI) to Buy
- Goldman Sachs upgrades Westlake Chemical (NYSE: WLK) to Buy
To see more of today's upgrades, click here.
- Dahlman Rose downgrades JetBlue Airways (NASDAW: JBLU) to Sell
- JP Morgan downgrades Campbell Soup (NYSE: CPB) to Underweight
To see more of today's downgrades, click here.
On the Economic Calendar
- Empire Manufacturing Index is due at 8:30 a.m. ET
To see more economic news, click here
Earnings
- New Oriental Education (NYSE: EDU) Reports Q2 EPS $0.05 vs $0.02 Est; Revenues $132M vs $129.46M Est
- Check Point Software Technology (NASDAQ: CHKP) Reports Q4 EPS $0.84 vs $0.82 Est; Revenues $356.8M vs $355.63M Est
To see more earnings announcements, click here.
Corporate News
- Blackbaud (NASDAQ: BLKB) announces agreement to acquire Convio (NASDAQ: CNVO) for $16 per share
- Ku6 Media (NASDAQ: KUTV) announces partnership with YouTube
- Akorn (NASDAQ: AKRX) sees 2012 adjusted EPS of $0.42 – 0.45 vs $0.45 Est; revenues $210–220M vs $221.13M Est
- Medivation (NASDAQ: MDVN) and Pfizer (NYSE: PFE) announce results from Phase 3 concert trial of Dimebon in Alzheimer's Disease, did not meet primary efficacy endpoints
To see more corporate news, click here.
Commodities
- Precious metals are trading higher, with gold posting gains of about 2.1%
- Energy futures are trading higher, with crude oil posting gains of about 2.2%
- Natural Gas futures are lower by about 3.5% and copper is trading higher by about 2.9%
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 | 12476 | 12443 | 12387 | 12354 | 12298 |
| E-Mini S&P 500 | 1299 | 1295 | 1288 | 1284 | 1277 |
| Gold | 1652 | 1648 | 1643 | 1638 | 1634 |
| Crude | 100.40 | 100.04 | 99.45 | 99.09 | 98.50 |
| Natural Gas | 2.60 | 2.57 | 2.55 | 2.53 | 2.51 |
| EUR/USD | 1.2715 | 1.2690 | 1.2661 | 1.2636 | 1.2607 |
| US Dollar Index | 82.04 | 81.83 | 81.70 | 81.50 | 81.37 |
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