News Summary for June 29, 2011

This is your Benzinga news summary and traders' outlook for Wednesday, June 29, 2011, covering headlines from overnight and Wednesday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading higher as traders anticipate a positive vote to the Greek debt crisis later today. The U.S. dollar is also lower today after the European developments. Overseas, European and Asian equity markets rose after renewed optimism that Greek ministers would vote to pass domestic austerity measures. Most equity markets rose over 1%, with the most notable mover being the EURO STOXX 50 Index (Europe's blue-chip index for the Eurozone) which is trading over 2% higher on the session. On the economic calendar today, pending home sales for the period of May are set to be reported at 10:00 a.m. ET. On the commodity front, gold and silver futures are down trading higher, with silver posting early gains of 2%. Energy futures are also trading higher with crude oil futures trading over 1% higher, nearing $94 per barrel. On the earnings front, General Mills

EPS and revenues in-line to what The Street was expecting. Shares of General Mills were lower in pre-market trading after the company expects input costs for 2012 to rise by 10%-11%. Family Dollar

missed third quarter earnings estimates while reaffirming guidance for the fourth quarter and fiscal year. Shares of Family Dollar moved lower after these disappointing results. In corporate news, Leonard Green & Partners and CVC announced they would

BJ's Wholesale

for $51.25 per share in cash, a 7% premium to yesterday's close. The total consideration for the acquisition is $2.8 billion. This concludes your news summary for June 29, 2011.