Financial Breakfast: Morning News Summary for November 15, 2011

Benzinga's Top News

• Wal-Mart Stores WMT Reports Q3 EPS $0.97 vs $0.97 Est; Revenue $110.23B vs $107.87B Est.
• Home Depot HD Reports Q3 EPS $0.60 vs $0.58 Est; Revenues $17.33B vs $17.09B Est
• Italian 10-year bond trades over the dangerous 7% level.
• Dick's Sporting Goods DKS authorized and declared its first ever annual dividend of $0.50 per share on the Company's common stock.

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower with Dow Futures down about 115 points.
• U.S. Dollar trades about 0.4% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 lost 1.4%, Germany's DAX slid 2.3% and France's CAC 40 fell 2.1% on the session.
• Asian stocks ended the session lower. China's Shanghai added 0.01%, Japan's Nikkei 225 lost 0.7% and Hong Kong's Hang Seng Index slid 0.8%.
• Italian 10-year bond trades over the dangerous 7% level.

Upgrades/Downgrades

• Bank of America upgrades Agilent Technologies A to Buy, PO raised to $45.
• Morgan Stanley upgrades ONEOK OKE to Overweight, PT raised to $93.

• Piper Jaffray downgrades Amgen AMGN to Neutral, PT lowered to $65.
• Bank of America downgrades Public Service Enterprise Group PEG to Neutral, PO lowered to $37.

On the Economic Calendar

• The Producer Price Index, Advance Retail Sales, and the Empire Manufacturing Index is due at 8:30 a.m. ET.
• Business Inventories are set to report at 10:00 a.m.

Earnings

• Wal-Mart Stores Reports Q3 EPS $0.97 vs $0.97 Est; Revenue $110.23B vs $107.87B Est.
• Home Depot HD Reports Q3 EPS $0.60 vs $0.58 Est; Revenues $17.33B vs $17.09B Est
• Staples SPLS Reports Q3 EPS $0.47 vs $0.47 Est; Revenues $6.6B vs $6.72B Est
• Dick's Sporting Goods DKS Reports Q3 EPS $0.32 vs $0.26 Est; Revenues $1.18B vs $1.16B Est

Corporate News

• SAP AG SAP announced multi-year spending plans of more than US$2 billion through 2015 to grow its business in China. The company intends to deepen its investment in this key global market in order to further underscore its long-term strategic commitment to the world's second-largest economy.
• Sino-Forest Corporation SNOFF announced the findings of the Independent Committee of the Company's Board of Directors. Sino-Forest also announced that it is deferring the release of its third quarter financial 2011 results. Mr. Judson Martin, Vice-Chair and CEO of the Company stated "This has been an intense and challenging process and I am pleased that the Independent Committee has been able to refute the substance of the allegations made in the Muddy Waters report.
• Dick's Sporting Goods DKS authorized and declared its first ever annual dividend of $0.50 per share on the Company's common stock.

Commodities

• Precious metals are trading lower, with gold posting losses of about 0.4%
• Energy futures are trading lower, with crude oil posting losses of about 0.3%
• Natural Gas futures are lower by about 0.5% and copper is trading lower by about 0.5%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12272	12164	12075	11965	11878
E-Mini S&P500	1280	1266	1254	1242	1229
Gold	1803	1792	1783	1771	1763
Crude	100.21	99.10	98.15	97.04	96.09
Natural Gas	3.58	3.51	3.47	3.40	3.37
EUR/USD	1.3848	1.3740	1.3665	1.3555	1.3483
USD/JPY	77.34	77.20	77.00	76.86	76.66
US Dollar Index	78.33	78.00	77.49	77.15	76.66