Tuesday, May 1, 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
- Reserve Bank of Australia Cuts Interest Rate To 3.75% from 4.25%
- UK Manufacturing PMI Drops To 50.5 In April from 51.9
- Louis Dreyfus Commodities LLC Agrees to Acquire Imperial Sugar IPSU for $6.35/Share
Domestic Pre-Market Trading
- U.S. Equity Markets trade higher as Dow futures trade up about 9 points.
- U.S. Dollar trades about 0.04% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are closed for May 1st Holiday
- Asian stocks are closed for May 1st Holiday.
- Reserve Bank of Australia Cuts Interest Rate To 3.75% from 4.25%
- UK Manufacturing PMI Drops To 50.5 In April from 51.9
To see more overseas news, click here.
Upgrades/Downgrades
- Goldman Sachs Upgrades Community Health Systems CYH from Sell to Neutral, Raises PT from $19 to $27
- Bank of America Upgrades AstraZeneca AZN from Underperform to Neutral, Maintains PO at $49.2
To see more of today's upgrades, click here.
- Deutsche Bank Downgrades VeriFone Systems PAY from Hold to Sell, Lowers PT to $40
- Deutsche Bank Downgrades Costco Wholesale COST from Buy to Hold, Maintains PT at $89
To see more of today's downgrades, click here.
On the Economic Calendar
- 08:55 a.m. ET - Redbook (MoM)
- 10:00 - ISM Manufacturing Index
- 10:00 - ISM Manufacturing Prices
- 10:00 - Construction Spending (MoM)
- 11:30 - 52-Week Bill Auction
- 11:30 - 4-Week Bill Auction
- 11:30 - Chicago Fed President Evans Speaks
- 16:00 - Total Vehicle Sales
To see more economic news, click here
Earnings
- Pfizer PFE Reports Q1 EPS $0.58 vs $0.56 Est; Revenues $15.4B vs $15.47B Est
- Archer-Daniels-Midland ADM Reports Q3 EPS $0.78 vs $0.59 Est; Revenues $21.16B vs $21.38B Est
- Harris HRS Reports Q3 EPS $1.39 vs $1.32 Est; Revenues $1.48B vs $1.47B Est
- Biogen Idec BIIB Reports Q1 EPS $1.40 vs $1.48 Est; Revenues $1.3B vs $1.31B Est
To see more earnings announcements, click here.
Corporate News
- Louis Dreyfus Commodities LLC Agrees to Acquire Imperial Sugar IPSU for $6.35/Share
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting early losses of about 0.05%
- Energy futures are trading lower, with crude oil posting early losses of about 0.23%
- Natural Gas futures are trading 1.0% higher and copper is trading lower by about 0.04%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and ForexName | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
E-Mini S&P 500 | 1408 | 1401 | 1396 | 1388 | 1382 |
Gold | 1680 | 1672 | 1658 | 1650 | 1637 |
Crude | 105.92 | 105.41 | 104.64 | 104.13 | 103.36 |
Natural Gas | 2.42 | 2.36 | 2.25 | 2.19 | 2.08 |
EUR/USD | 1.3295 | 1.3266 | 1.3236 | 1.3208 | 1.3178 |
US Dollar Index | 79.10 | 78.98 | 78.83 | 78.70 | 78.55 |
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