Market Overview

Financial Breakfast: Morning News Summary for March 12, 2012


Monday, March 12, 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

  • PepsiCo (NYSE: PEP) Appoints Brian Cornell CEO, PepsiCo Americas Foods.
  • Teleflex (NYSE: TFX) Appoints Thomas E. Powell CFO, Reaffirms 2012 Guidance.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade down about 6 points.
  • U.S. Dollar trades about 0.06% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.05%, Germany's DAX gained 0.18% and France's CAC 40 slid 0.11% on the session.
  • Asian stocks ended the session mixed as well. China's Shanghai lost 0.20%, Japan's Nikkei 225 slid 0.40%, and Hong Kong's Hang Seng advanced 0.23%.
To see more overseas news, click here.


  • Morgan Stanley Upgrades Carbo Ceramics (NYSE: CRR) from Underweight to Equal-weight, Raises PT from $105 to $125
  • Bank of America Upgrades Orexigen Therapeutics (NASDAQ: OREX) to Buy
To see more of today's upgrades, click here.

  • Bank of America Downgrades Southwest Airlines (NYSE: LUV) to Neutral
  • Oppenheimer Downgrades China New Borun (NASDAQ: BORN) from Outperform to Perform, Removes PT
To see more of today's downgrades, click here.

On the Economic Calendar

  • Monthly Budget Statement is set to report at 2:00 p.m. ET
To see more economic news, click here


  • AirMedia (NASDAQ: AMCN) Reports Q4 EPS $0.11 vs $0.07 Est; Revs $85M vs $78.2M Est
To see more earnings announcements, click here.

Corporate News

  • PepsiCo (NYSE: PEP) Appoints Brian Cornell CEO, PepsiCo Americas Foods.
  • Teleflex (NYSE: TFX) Appoints Thomas E. Powell CFO, Reaffirms 2012 Guidance.
To see more corporate news, click here.


  • Precious metals are trading lower, with gold posting early losses of about 0.40%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.99%
  • Natural Gas futures are lower by about 2.45% and copper is trading lower by about 0.66%
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 1375 1371 1363 1359 1353
Gold 1741 1727 1701 1688 1662
Crude 109.32 108.37 107.25 106.28 105.18
Natural Gas 2.36 2.34 2.30 2.27 2.23
EUR/USD 1.3321 1.3221 1.3159 1.3069 1.2996
US Dollar Index 80.62 80.32 79.79 79.49 78.97

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Posted-In: Earnings News Bonds Guidance Upgrades Downgrades Futures Technicals Best of Benzinga


Related Articles (AMCN + BORN)

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European morning wrap: Mundane Monday (try saying that quickly)

Benzinga's Top Upgrades