Financial Breakfast: Morning News Summary for March 20, 2012

Benzinga's Top News

• Tiffany & Co TIF Reports Q1 EPS $1.39 vs $1.42 Est; Revenues $1.19B vs $1.19B Est
• DSW DSW Reports Q1 EPS $0.51 vs $0.49 Est; Revenues $513.7M vs $511.18M Est
• Covidien COV Announces FDA 510(k) Clearance of Nellcor Respiration Rate Software

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 64 points.
• U.S. Dollar trades about 0.36% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 slid 1.09%, Germany's DAX lost 1.39% and France's CAC 40 fell 1.37% on the session.
• Asian stocks ended the session mixed. China's Shanghai lost 1.36%, Japan's Nikkei 225 gained 0.12% yesterday (off for holiday), and Hong Kong's Hang Seng slid 1.08%.

Upgrades/Downgrades

• Macquarie Upgrades Diamond Offshore DO to Neutral from Underperform

• JP Morgan Downgrades Dole Foods DOLE to Neutral
• Macquarie Downgrades Noble Energy NE to Neutral from Outperform

On the Economic Calendar

• 08:30 a.m. ET - Building Permits
• 08:30 - Housing Starts
• 11:30 - 4-Week Bill Auction
• 12:45 - Fed Chairman Bernanke Speaks

Earnings

• Tiffany & Co TIF Reports Q1 EPS $1.39 vs $1.42 Est; Revenues $1.19B vs $1.19B Est
• DSW DSW Reports Q1 EPS $0.51 vs $0.49 Est; Revenues $513.7M vs $511.18M Est
• JA Solar Holdings JASO Reports Q4 EPS $-0.39 May Not Compare vs $-0.09 Est; Revenues $309.1M May Not Compare vs $243.09M Est

Corporate News

• Covidien COV Announces FDA 510(k) Clearance of Nellcor Respiration Rate Software
• Acacia Subsidiary ACTG Enters into License Agreement with CompUSA.com, New CompUSA Corporation, Systemax and Tiger Direct

Commodities

• Precious metals are trading lower, with gold posting early losses of about 1.01%
• Energy futures are trading lower, with crude oil posting early losses of about 0.58%
• Natural Gas futures are lower by about 0.25% and copper is trading lower by about 1.66%

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	1416	1410	1401	1395	1387
Gold	1679	1671	1661	1653	1644
Crude	109.67	108.99	107.98	107.33	106.35
Natural Gas	2.44	2.39	2.33	2.28	2.23
EUR/USD	1.3337	1.3287	1.3214	1.3164	1.3091
US Dollar Index	80.41	80.06	79.83	79.48	79.25

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