Financial Breakfast: Morning News Summary for February 07, 2012

In 1990 the $50 and $100 bills had security strips and microprinting added to them.

Benzinga's Top News

• GlaxoSmithKline GSK Reports Q4 EPS 28.4 Pence vs 28.3 Pence Est
• Toyota Motor TM Oct-Dec Net Profit Y80.9B; Lifts FY Net Profit Outlook To Y200B From Y180B
• Emerson Electric EMR Reports Q1 EPS $0.50 vs $0.51 Est; Revenues $5.31B vs $5.29B Est
• BP BP Reports Q4 EPS $2.41 May Not Compare vs $1.59 Est; Revenues $96.34B vs $86.23B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 32 points.
• U.S. Dollar trades about 0.13% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.5%, Germany's DAX lost 1.02% and France's CAC 40 fell 0.61% on the session.
• Asian stocks ended the session lower as well. China's Shanghai lost 1.64%, Japan's Nikkei 225 fell 0.13%, and Hong Kong's Hang Seng slid 0.05%.

Upgrades/Downgrades

• Brean Murray Carret & Co. Upgrades Urban Outfitters URBN from Sell to Hold
• Piper Jaffray Upgrades Corning GLW to Overweight Rating; Increases PT

• Bank of America Downgrades Achillion Pharmaceuticals ACHN from Buy to Underperform, Lowers PO from $11 to $10
• Citigroup Downgrades Aon AON from Buy to Neutral, Lowers PT from $53 to $51

On the Economic Calendar

• IBD/TIPP Economic Optimism and JOLT Job Openings are set to report at 10:00 a.m. ET
• US Consumer Credit is due at 3:00 p.m.

Earnings

• GlaxoSmithKline GSK Reports Q4 EPS 28.4 Pence vs 28.3 Pence Est
• Toyota Motor TM Oct-Dec Net Profit Y80.9B; Lifts FY Net Profit Outlook To Y200B From Y180B
• Emerson Electric EMR Reports Q1 EPS $0.50 vs $0.51 Est; Revenues $5.31B vs $5.29B Est
• BP BP Reports Q4 EPS $2.41 May Not Compare vs $1.59 Est; Revenues $96.34B vs $86.23B Est

Corporate News

• Bank of Commerce BOCH Holdings Authorizes Stock Repurchase Program of up to 6% of Outstanding Shares
• Wright Medical Group WMGI Announces 510(k) Clearance and Limited U.S. Launch of the PROPHECY INBONE Pre-Operative Navigation Alignment Guides

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 0.80%
• Natural Gas futures are higher by about 0.55% and copper is trading lower by about 1.62%

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	1346	1342	1336	1332	1326
Gold	1747	1735	1724	1711	1701
Crude	98.34	97.70	97.04	96.40	95.75
Natural Gas	2.67	2.63	2.53	2.49	2.39
EUR/USD	1.3212	1.3170	1.3100	1.3056	1.2985
US Dollar Index	79.84	79.49	79.30	78.94	78.75

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