Market Overview

End-of-Day Market Summary for January 13, 2012


This is your Benzinga news summary for Friday, January 13, 2012, covering headlines from Friday's daytime trading session.

Today at market close, the Dow Jones Index traded down about 48.96 points 0.39%, the S&P 500 traded 0.49% lower, the Nasdaq Composite Index traded down 0.51%, and the U.S. dollar trades slightly higher near the $81.70 level.

Earlier today, Oppenheimer upgraded Titan International (NYSE: TWI) to Outperform and KeyBanc upgraded PolyOne (NYSE: POL) to Buy. View all of today's upgrades here.

Bank of America downgraded Exelon (NYSE: EXC) to Neutral and McNicoll Lewis downgraded Inhibitex (NADAQ: INHX) to Hold. View all of today's downgrades here.

Overseas, European markets ended their trading session lower. Britain's FTSE 100 lost 0.46%, Germany's DAX decreased by 0.58% and France's CAC 40 slid by 0.11% on the session. Asian stocks ended their session mixed. China's Shanghai Index tumbled by 1.35%, Japan's Nikkei 225 increased by 1.36%, and the Hang Seng index gained 0.57%.

On the economic calendar, the US Trade Balance came in at -$47.8B versus an estimate of -$45B; Michigan Confidence came in at 74 versus an estimate of 71.5. On the commodity front, gold and silver futures traded higher today, with gold trading about 0.5% higher today. Energy futures are mixed, with crude oil down over 0.2% near the $99.30 level and gasoline futures are trading higher by about 0.9%. Natural Gas futures are lower by about 2.4% and copper futures are trading over 0.4% higher.

Today's afternoon earnings announcements included JDA Software Reports Prelim Q4 Revs $173M vs $180M Est, 2011 Revs $670M vs $678M Est.

In corporate news, Lionsgate (NYSE" LGF) announced that it will buy Summit Entertainment of $412.5M in cash and stock.

Morgan Stanley (NYSE: MS) announced that it has closed its tactical research idea on PVH Corp (NYSE: PVH).

Public Storage (NYSE: PSA) announced that it has redeemed all outstanding Series E preferred shares.

This concludes your news summary for January 13, 2012.

Posted-In: News Broad U.S. Equity ETFs Upgrades Downgrades Events Global Econ #s Economics Best of Benzinga


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