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Financial Breakfast: Morning News Summary for March 27, 2012

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Tuesday, March 27, 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

  • McCormick (NYSE: MKC) Reports Q1 EPS $0.55 vs $0.53 Est; Revenues $906.7M vs $869.81M Est
  • MAP Pharmaceuticals (NASDAQ: MAPP) Falls 35% Pre-Market on FDA Complete Response Letter for LEVADEX
  • OTI (NASDAQ: OTIV) Files Patent Infringement Suit Against T-Mobile

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 3 points.
  • U.S. Dollar trades about 0.09% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.01%, Germany's DAX gained 0.64% and France's CAC 40 advanced 0.2% on the session.
  • Asian stocks ended the session mixed. China's Shanghai slid 0.12%, Japan's Nikkei 225 advanced 2.36%, and Hong Kong's Hang Seng gained 1.83%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Morgan Stanley Upgrades Vale (NASDAQ: VALE) from Equal-weight to Overweight, Raises PT from $29.2 to $29.6
  • Sterne Agee Upgrades Hatteras Financial (NYSE: HTS) from Neutral to Buy, Announces PT of $29
To see more of today's upgrades, click here.

  • Deutsche Bank Downgrades Buffalo Wild Wings (NASDAQ: BWLD) from Buy to Hold, Raises PT from $85 to $100
  • Credit Suisse Downgrades Apollo Group (NASDAQ: APOL) from Outperform to Neutral, Lowers PT from $60 to $40
To see more of today's downgrades, click here.

On the Economic Calendar

  • 09:00 a.m. ET - S&P/CS Home Price Indices Composite
  • 10:00 - Richmond Manufacturing Index
  • 10:00 - CB Consumer Confidence
  • 12:30 - 4-Week Bill Auction
  • 12:45 - Fed Chairman Bernanke Speaks
  • 13:20 - FOMC Member Fisher Speaks
  • 14:00 - 2-Year Note Auction
To see more economic news, click here

Earnings

  • McCormick (NYSE: MKC) Reports Q1 EPS $0.55 vs $0.53 Est; Revenues $906.7M vs $869.81M Est
  • Charming Shoppes (NASDAQ: CHRS) Reports Q1 EPS $-0.06 vs $-0.02 Est; Revenues $559.1M vs $542.27M Es
To see more earnings announcements, click here.

Corporate News

  • MAP Pharmaceuticals (NASDAQ: MAPP) Falls 35% Pre-Market on FDA Complete Response Letter for LEVADEX
  • OTI (NASDAQ: OTIV) Files Patent Infringement Suit Against T-Mobile
  • Wabash National (NYSE: WNC) Will Buy Walker Group for $360M
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.3%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.17%
  • Natural Gas futures are lower by about 0.04% and copper is trading lower by about 0.42%
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 1430 1423 1407 1400 1384
Gold 1717 1703 1679 1665 1640
Crude 108.00 107.54 106.87 106.41 105.74
Natural Gas 2.35 2.28 2.25 2.18 2.14
EUR/USD 1.3476 1.3416 1.3307 1.3247 1.3138
US Dollar Index 80.24 79.66 79.36 78.78 78.48


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

 

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