Financial Breakfast: Morning News Summary for June 20, 2012

Benzinga's Top News

Quest Software QSFT Has Received Increased Bid to $25.75/Share from $23 Previously

Yesterday, Adobe Systems ADBE Reports Q2 EPS $$0.60 vs $0.59 Est; Revenues $1.12B vs $1.11B Est; Guides Q3 EPS $0.56-0.61 vs $0.61 Est, Guides Q3 Revenue $1.075-1.125B vs $1.13B Est

Procter & Gamble PG Lowers Quarterly EPS Guidance from $0.79-0.85 to $0.75-0.79

Domestic Pre-Market Trading

• U.S. Equity Markets trade up as Dow futures trade higher about 6 points.
• U.S. Dollar trades about 0.03% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 gained 0.47%, Germany's DAX advanced 0.14% and France's CAC 40 slid 0.16% on the session.
• Asian stocks ended the session mixed as well. China's Shanghai fell 0.27%, Japan's Nikkei 225 added 1.11%, and Hong Kong's Hang Seng gained 0.53%.

Upgrades/Downgrades

• Goldman Sachs Upgrades Marathon Petroleum MPC from Neutral to Buy, $58 PT

• Goldman Sachs Downgrades ConocoPhillips COP from Neutral to Sell, Maintains $58 PT

On the Economic Calendar

• 10:00 a.m. ET - Mass Layoffs
• 10:30 - Gasoline Inventories
• 10:30 - Crude Oil Inventories
• 12:30 - FOMC Statement
• 12:30 - US Fed Interest Rate Decision
• 14:15 - Fed Chairman Bernanke Speaks

Earnings

• Yesterday, Adobe Systems ADBE Reports Q2 EPS $$0.60 vs $0.59 Est; Revenues $1.12B vs $1.11B Est; Guides Q3 EPS $0.56-0.61 vs $0.61 Est, Guides Q3 Revenue $1.075-1.125B vs $1.13B Est
• Yesterday, Jabil Circuit JBL Reports Q3 EPS $0.64 vs $0.64 Est, Revenue $4.25B vs $4.29B Est

Corporate News

• Quest Software QSFT Has Received Increased Bid to $25.75/Share from $23 Previously
• Procter & Gamble PG Lowers Quarterly EPS Guidance from $0.79-0.85 to $0.75-0.79

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.59%
• Energy futures are trading higher, with crude oil posting early gains of about 0.02%
• Natural Gas futures are trading 3.54% higher and copper is trading lower by about 0.48%

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	1368	1359	1347	1338	1327
Gold	1639	1629	1623	1613	1607
Crude	86.04	85.17	83.89	83.02	81.74
Natural Gas	2.74	2.65	2.58	2.49	2.41
EUR/USD	1.2822	1.2753	1.2660	1.2591	1.2498
US Dollar Index	82.64	82.12	81.75	81.23	80.86

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