Financial Breakfast: Morning News Summary for May 18, 2012

Benzinga's Top News

Facebook FB Prices 421M Shares At $38 per Share; Scheduled Open is for 11:00 a.m. ET

Foot Locker FL Reports Q1 EPS $0.83 vs $0.74 Est; Revenues $1.58B vs $1.55B Est

Donaldson DCI Reports Q3 EPS $0.46 vs $0.43 Est; Revenues $647.2M vs $649.88M Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 60 points.
• U.S. Dollar trades about 0.11% higher.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.55%, Germany's DAX added 0.27% and France's CAC 40 advanced 0.43% on the session.
• Asian stocks ended the session lower. China's Shanghai fell 1.41%, Japan's Nikkei 225 tumbled 2.99%, and Hong Kong's Hang Seng slid 1.3%.

Upgrades/Downgrades

• Credit Suisse Upgrades AutoZone AZO from Neutral to Outperform, Raises PT from $350 to $440
• Guggenheim Upgrades Sprint Nextel S from Neutral to Buy, Raises PT from $3 to $3.5

• Cantor Fitzgerald Downgrades Power-One PWER from Buy to Hold, Lowers PT from $7.5 to $5
• Goldman Sachs Downgrades Bankrate RATE from Buy to Neutral, Lowers PT from $27 to $25

On the Economic Calendar

No Major Economic Events

Earnings

• Foot Locker FL Reports Q1 EPS $0.83 vs $0.74 Est; Revenues $1.58B vs $1.55B Est
• Donaldson DCI Reports Q3 EPS $0.46 vs $0.43 Est; Revenues $647.2M vs $649.88M Est
• Brown Shoe BWS Reports Q1 EPS $0.23 vs $0.09 Est; Revenues $626.4M vs $600.70M Est

Corporate News

• Facebook FB Prices 421M Shares At $38 per Share; Scheduled Open is for 11:00 a.m. ET

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.97%
• Energy futures are trading higher, with crude oil posting early gains of about 0.11%
• Natural Gas futures are trading 3.01% higher and copper is trading higher by about 0.92%

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	1341	1321	1310	1291	1280
Gold	1601	1588	1566	1553	1532
Crude	94.75	93.82	92.96	92.03	91.17
Natural Gas	2.77	2.70	2.60	2.53	2.43
EUR/USD	1.2785	1.2741	1.2700	1.2659	1.2622
US Dollar Index	82.04	81.84	81.63	81.43	81.21

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