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Financial Breakfast: Morning News Summary for February 16, 2012

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Thursday, February 16, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

  • Rumors that Moody's is looking to cut its credit ratings on UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Morgan Stanley (NYSE: MS) was met with a drop in European markets.
  • Elektra to Acquire Advance America (NYSE: AEA) For $10.50/Share
  • JM Smucker (NYSE: SJM) Reports Q3 EPS $1.22 vs $1.41 Est; Revenues $1.47B vs $1.54B Est
  • TRW Automotive Holdings (NYSE: TRW) Reports Q4 EPS $1.84 vs $1.55 Est; Revenues $3.99B vs $3.96B Est
  • Barrick Gold (NYSE: ABX) Reports Q4 EPS $1.17 vs $1.28 Est; Revenues $3.79B vs $3.73B Est

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade down about 37 points.
  • U.S. Dollar trades about 0.49% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.75%, Germany's DAX slid 1.08% and France's CAC 40 fell 0.66% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai slid 0.39%, Japan's Nikkei 225 fell 0.24%, and Hong Kong's Hang Seng lost 0.41%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Jefferies Upgrades MEMC Electronic Materials (NYSE: WFR) from Underperform to Hold, Raises PT from $3.5 to $4.5
  • Citigroup Upgrades Grand Canyon Education (NASDAQ: LOPE) from Neutral to Buy, Raises PT from $18 to $22
To see more of today's upgrades, click here.

  • Morgan Stanley Downgrades Amazon (NASDAQ: AMZN) from Overweight to Equal-weight, Removes PT
  • Bank of America Downgrades Ancestry.com (NASDAQ: ACOM) from Buy to Neutral, Lowers PO from $37 to $31
To see more of today's downgrades, click here.

On the Economic Calendar

  • Producer Price Index, Housing Starts, Building Permits, Initial & Continuing Jobless Claims are due at 8:30 a.m. ET
  • Phili Fed Index, Mortgage Delinquencies are set to report at 10:00 a.m.
To see more economic news, click here

Earnings

  • JM Smucker (NYSE: SJM) Reports Q3 EPS $1.22 vs $1.41 Est; Revenues $1.47B vs $1.54B Est
  • TRW Automotive Holdings (NYSE: TRW) Reports Q4 EPS $1.84 vs $1.55 Est; Revenues $3.99B vs $3.96B Est
  • Barrick Gold (NYSE: ABX) Reports Q4 EPS $1.17 vs $1.28 Est; Revenues $3.79B vs $3.73B Est
To see more earnings announcements, click here.

Corporate News

  • Rumors that Moody's is looking to cut its credit ratings on UBS (NYSE: UBS), Credit Suisse (NYSE: CS), and Morgan Stanley (NYSE: MS) was met with a drop in European markets.
  • Elektra to Acquire Advance America (NYSE: AEA) For $10.50/Share
  • Jingwei International (NASDAQ: JNGW) Announces Intent to Go Private for $2.20 per Share
To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting early losses of about 0.49%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.51%
  • Natural Gas futures are higher by about 0.25% and copper is trading lower by about 1.47%
To see more commodities news, click here.


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 1366 1354 1345 1334 1328
Gold 1747 1738 1730 1721 1713
Crude 103.21 102.54 101.88 101.21 100.55
Natural Gas 2.63 2.53 2.46 2.37 2.30
EUR/USD 1.3245 1.3155 1.3099 1.3009 1.2952
US Dollar Index 80.27 80.02 79.61 79.36 78.95


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Posted-In: Earnings M&A News Bonds Guidance Upgrades Downgrades Futures Best of Benzinga

 

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