Financial Breakfast: Morning News Summary for January 20, 2012
Posted in: Earnings, News, Futures, Upgrades, Commodities, Downgrades, Forex, Technicals, Buybacks, M&A, Events, Global, Econ #s, Economics, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, Best of Benzinga
Friday, January 20, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• Wall Street features architecture mostly from the Gilded Age, and some art deco styles.
Benzinga's Top News
- General Electric (NYSE: GE) Reports Q4 EPS $0.39 vs $0.38 Est; Revenues $37.97B vs $40.20B Est
- Schlumberger (NYSE: SLB) Reports Q4 EPS $1.11 vs $1.10 Est; Revenues $10.97B vs $10.79B Est
- China GrenTech (NASDAQ: GRRF) announces amendment to definitive merger agreement for "going private" transaction for $3.15/share
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 8 points.
- U.S. Dollar trades about 0.15% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.05%, Germany's DAX slid 0.14% and France's CAC 40 fell 0.47% on the session.
- Asian stocks ended the session higher. China's Shanghai advanced 1.03%, Japan's Nikkei 225 added 1.47%, and Hong Kong's Hang Seng gained 0.84%
To see more overseas news, click here.
Upgrades/Downgrades
- Bank of America upgrades Raytheon (NYSE RTN) to Buy
- Deutsche Bank upgrades Noble Corporation (NYSE: NE) to Buy
To see more of today's upgrades, click here.
- Morgan Stanley downgrades Procter & Gamble (NYSE: PG) to Equal-weight
- Bank of America downgrades Lockheed Martin (NYSE: LMT) to Underperform
To see more of today's downgrades, click here.
On the Economic Calendar
- Existing Home Sales are set to report at 10:00 a.m. ET
- Philly Fed Index is due at 10:00 a.m.
To see more economic news, click here
Earnings
- General Electric (NYSE: GE) Reports Q4 EPS $0.39 vs $0.38 Est; Revenues $37.97B vs $40.20B Est
- Schlumberger (NYSE: SLB) Reports Q4 EPS $1.11 vs $1.10 Est; Revenues $10.97B vs $10.79B Est
- Comerica (NYSE: CMA) Reports Q4 EPS $0.48 vs $0.48 Est
To see more earnings announcements, click here.
Corporate News
- TreeHouse Foods (NYSE THS) lowers 2011 EPS guidance to $2.70-2.73 vs $2.90-3.00 and $2.94 est
- AZZ (NYSE: AZZ) authorized the repurchase of up to 10% of outstanding common shares, guides 2013 revs $475-510M vs $466.1M est
- China GrenTech (NASDAQ: GRRF) announces amendment to definitive merger agreement for "going private" transaction for $3.15/share
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.5%
- Energy futures are trading lower, with crude oil posting losses of about 0.57%
- Natural Gas futures are higher by about 0.78% and copper is trading lower by about 1%
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 | 12657 | 12622 | 12554 | 12519 | 12451 |
| E-Mini S&P 500 | 1319 | 1314 | 1307 | 1302 | 1294 |
| Gold | 1680 | 1668 | 1658 | 1646 | 1637 |
| Crude | 103.07 | 101.78 | 100.95 | 99.66 | 98.83 |
| Natural Gas | 2.49 | 2.39 | 2.34 | 2.24 | 2.19 |
| EUR/USD | 1.3057 | 1.3012 | 1.2923 | 1.2880 | 1.2793 |
| US Dollar Index | 80.99 | 80.61 | 80.42 | 80.04 | 79.84 |
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