Financial Breakfast: Morning News Summary for March 15, 2012

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Thursday, March 15, 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

  • Avaya To Acquire Radvision RVSN For $230M or $11.85/Share.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 13 points.
  • U.S. Dollar trades about 0.10% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.13%, Germany's DAX gained 0.25% and France's CAC 40 advanced 0.01% on the session.
  • Asian stocks ended the session mixed. China's Shanghai lost 0.71%, Japan's Nikkei 225 gained 0.71%, and Hong Kong's Hang Seng added 0.21%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Credit Suisse Upgrades Public Storage PSA to Outperform
  • Citigroup Upgrades FXCM FXCM from Neutral to Buy
To see more of today's upgrades, click here.

  • Credit Suisse Downgrades eBay EBAY to Neutral
  • Jefferies & Company Downgrades EXCO Resources XCO from Hold to Underperform
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET - NY Empire State Manufacturing Index
  • 08:30 - Continuing Jobless Claims
  • 08:30 - Initial Jobless Claims
  • 08:30 - PPI (MoM)
  • 08:30 - Core PPI (MoM)
  • 09:00 - TIC Net Long-Term Transactions
  • 09:45 - Bloomberg Consumer Confidence
  • 10:00 - Philadelphia Fed Manufacturing Index
  • 10:30 - Natural Gas Storage
To see more economic news, click here

Earnings

  • Cato CATO Reports Q1 EPS $0.35 vs $0.32 Est; Revenues $224.30M vs $229.90M Est
  • Harvest Natural Resources HNR Reports Q4 EPS $0.33 vs $0.25 Est; Revenues $206.2M
To see more earnings announcements, click here.

Corporate News

  • Avaya To Acquire Radvision RVSN For $230M or $11.85/Share.
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.14%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.08%
  • Natural Gas futures are lower by about 1.36% and copper is trading higher by about 0.04%
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 1399 1393 1389 1383 1379
Gold 1699 1671 1653 1625 1607
Crude 107.80 106.68 105.90 104.78 104.00
Natural Gas 2.38 2.33 2.29 2.23 2.19
EUR/USD 1.3122 1.3076 1.3043 1.2997 1.2964
US Dollar Index 81.32 81.13 80.90 80.68 80.41

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Posted In: EarningsNewsBondsGuidanceUpgradesDowngradesFuturesTechnicalsCommoditiesForexM&AEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading Ideas
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