Financial Breakfast: Morning News Summary for February 13, 2012

Benzinga's Top News

• Greek policymakers have finally agreed on an austerity package that will help it avoid a default on €14.5 billion euros of outstanding debt. An agreement means that the EU and IMF will give the beleagured and indebted Mediterranean state €130 billion in bailout funds.

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 71 points.
• U.S. Dollar trades about 0.46% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 1.00%, Germany's DAX gained 0.8% and France's CAC 40 advanced 0.54% on the session.
• Asian stocks ended the session higher as well. China's Shanghai added 0.01%, Japan's Nikkei 225 advanced 0.58%, and Hong Kong's Hang Seng gained 0.5%.

Upgrades/Downgrades

• Goldman Sachs Upgrades Noble (NYSE: NE) from Neutral to Buy, Raises PT from $37 to $46
• Goldman Sachs Upgrades Oceaneering International (NYSE: OII) from Neutral to Buy, Raises PT from $57 to $66

• BMO Capital Markets Downgrades Silvercorp Metals (NYSE: SVM) from Outperform to Market Perform
• Goldman Sachs Downgrades Baker Hughes (NYSE: BHI) from Buy to Neutral, Lowers PT from $70 to $59

On the Economic Calendar

No Major Economic Events Today

Earnings

• Regeneron (NASDAQ: REGN) Reports Q4 EPS $(0.37) vs$(0.60) Est; Revenues $123.00M vs $131.50M Est

Corporate News

• Greek policymakers have finally agreed on an austerity package that will help it avoid a default on €14.5 billion euros of outstanding debt. An agreement means that the EU and IMF will give the beleagured and indebted Mediterranean state €130 billion in bailout funds.
• Columbia Laboratories (NASDAQ: CBRX) Transfers NDA for Progesterone Vaginal Gel 8% to Watson Pharmaceuticals (NYSE: WPI)
• SeraCare (NASDAQ: SRLS) Announces Definitive Agreement to be Acquired by Linden Capital Partners for $4.00 per Share

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.33%
• Energy futures are trading higher, with crude oil posting early gains of about 0.93%
• Natural Gas futures are lower by about 1.94% and copper is trading higher by about 0.52%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini S&P 500	1348	1344	1339	1335	1329
Gold	1751	1738	1733	1709	1693
Crude	101.04	100.05	98.68	97.69	96.32
Natural Gas	2.56	2.52	2.48	2.44	2.40
EUR/USD	1.3340	1.3268	1.3211	1.3138	1.3082
US Dollar Index	79.66	79.39	79.04	78.77	78.41

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