Wednesday, February 29, 2012
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
- Costco Wholesale (NASDAQ: COST) Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
- SodaStream International (NASDAQ: SODA) Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
- Joy Global (NYSE: JOY) Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est
- Conceptus (NASDAQ: CPTS) Receives FDA Approval for Compatible Use of Hologic's NovaSure with Essure Inserts in Place
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade up about 22 points.
- U.S. Dollar trades about 0.13% lower.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.03%, Germany's DAX advanced 0.63% and France's CAC 40 advanced 0.61% on the session.
- Asian stocks ended the session mixed. China's Shanghai lost 0.97%, Japan's Nikkei 225 advanced 0.01%, and Hong Kong's Hang Seng gained 0.52%.
Upgrades/Downgrades
- Deutsche Bank Upgrades Chevron (NYSE: CVX) from Hold to Buy, Raises PT from $115 to $130
- JP Morgan Downgrades Coinstar (NASDAQ: CSTR) from Overweight to Neutral, Maintains PT at $62
- Mirae Asset Downgrades SINA (NASDAQ: SINA) from Buy to Hold, Lowers PT from $75 to $70
On the Economic Calendar
- US MBA Mortgage Applications came in at (0.3%) from (4.5%) Prior
- GDP and Personal Consumption are set to report at 8:30 a.m. ET
- Chicago PMI is due at 9:45 a.m.
- Fed's Beige Book is set to release at 2:00 p.m..
Earnings
- Costco Wholesale (NASDAQ: COST) Reports Q2 EPS $0.90 vs $0.87 Est; Revenues $22.97B vs $22.80B Est
- SodaStream International (NASDAQ: SODA) Reports Q4 EPS $0.32 vs $0.21 Est; Revenues $85.7M vs $62.95M Est
- Joy Global (NYSE: JOY) Reports Q1 EPS $1.33 vs $1.35 Est; Revenues $1.14B vs $1.15B Est
Corporate News
- Joe's Jeans (NASDAQ: JOEZ) Announces Launch of a New Brand Exclusive to Macy's (NYSE: M)
- BioLineRx (NASDAQ: BLRX) Announces Receipt of Notice of Allowance from USPTO for Patent Covering BCM
- Conceptus (NASDAQ: CPTS) Receives FDA Approval for Compatible Use of Hologic's NovaSure with Essure Inserts in Place
Commodities
- Precious metals are trading higher, with gold posting early gains of about 0.02%
- Energy futures are trading higher, with crude oil posting early gains of about 0.49%
- Natural Gas futures are lower by about 0.12% 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 | 1379 | 1375 | 1369 | 1366 | 1360 |
| Gold | 1803 | 1794 | 1783 | 1774 | 1763 |
| Crude | 109.69 | 108.09 | 107.30 | 105.60 | 104.71 |
| Natural Gas | 2.67 | 2.60 | 2.55 | 2.48 | 2.44 |
| EUR/USD | 1.3520 | 1.3488 | 1.3438 | 1.3406 | 1.3357 |
| US Dollar Index | 78.79 | 78.53 | 78.37 | 78.11 | 77.95 |
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.