Financial Breakfast: Morning News Summary for June 12, 2012

Benzinga's Top News

Michael Kors KORS Reports Q4 EPS $0.21 vs $0.16 Est; Revenues $380M vs $360.62M Est

FactSet Research Systems FDS Reports Q3 EPS $1.15 vs $1.04 Est; Revenues $202.3M vs $202.95M Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 64 points.
• U.S. Dollar trades about 0.06% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.38%, Germany's DAX gained 0.51% and France's CAC 40 advanced 0.28% on the session.
• Asian stocks ended the session lower. China's Shanghai lost 0.66%, Japan's Nikkei 225 slid 1.02%, and Hong Kong's Hang Seng declined 0.43%.

Upgrades/Downgrades

• Bank of America Upgrades Bio-Reference Laboratories BRLI from Neutral to Buy, Raises PO from $24 to $26

• Piper Jaffray Downgrades IntegraMed America INMD from Overweight to Neutral, PT Raised from $14 to $14.05

On the Economic Calendar

• 08:30 a.m. ET - Import Price Index (MoM)
• 08:55 - Redbook (MoM)
• 10:00 - IBD/TIPP Economic Optimism
• 11:30 - 4-Week Bill Auction
• 13:00 - 3-Year Note Auction
• 14:00 - Federal Budget Balance

Earnings

• Michael Kors KORS Reports Q4 EPS $0.21 vs $0.16 Est; Revenues $380M vs $360.62M Est
• FactSet Research Systems FDS Reports Q3 EPS $1.15 vs $1.04 Est; Revenues $202.3M vs $202.95M Est

Corporate News

• Kratos KTOS Receives $11.7 Million in Specialty Product Orders for a National Security Related Program

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.28%
• Energy futures are trading lower, with crude oil posting early losses of about 0.19%
• Natural Gas futures are trading 0.09% lower and copper is trading lower by about 0.01%

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	1340	1327	1313	1287	1273
Gold	1612	1604	1593	1585	1573
Crude	88.02	84.57	82.53	79.39	77.66
Natural Gas	2.31	2.26	2.23	2.17	2.14
EUR/USD	1.2702	1.2591	1.2537	1.2425	1.2369
US Dollar Index	83.20	82.88	82.37	82.09	81.54

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