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Financial Breakfast: Morning News Summary for October 28, 2011

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Friday, October 28, 2011

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.

Benzinga's Top News

  • Whirlpool Corp (NYSE: WHR) Reported Q3 EPS $2.35 vs $2.75 Est; Revenues $4.63B vs $4.73B Est
  • Merck & Co (NYSE: MRK) Reported Q3 EPS $0.94 vs $0.91 Est; Revenues $12.02B vs $11.61B Est
  • Yesterday, HP (NYSE: HPQ) announced that it has completed its evaluation of strategic alternatives for its PC business and has decided the unit will remain part of the company.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade slightly lower with Dow Futures down over 60 points.
  • U.S. Dollar trades about 0.3% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are mixed in afternoon trading. Britain's FTSE 100 slid 0.12%, Germany's DAX added 0.35% and France's CAC 40 lost 0.2% on the session.
  • Asian stocks ended the session higher. China's Shanghai gained 1.55%, Japan's Nikkei 225 added 1.4% and Hong Kong's Hang Seng Index jumped 1.7%.
To see more overseas news, click here.

Upgrades/Downgrades

  • First Global upgraded Eli Lilly (NYSE: LLY) to Market Perform
  • Wunderlich upgraded WCA Waste (NASDAQ: WCAA) to Buy
To see more of today's upgrades, click here.

  • Jefferies downgraded Intuit (NASDAQ: INTU) to Hold
  • Morgan Stanley downgraded McDermott (NYSE: MDR) to Underweight
To see more of today's downgrades, click here.

On the Economic Calendar

  • The Employment Cost Index, PCE Deflator, Personal Income and Spending are set to be reported at 8:30 a.m. ET.
  • University of Michigan Confidence Index is due at 9:55 a.m.
To see more economic news, click here

Earnings

  • Whirlpool Corp (NYSE: WHR) Reported Q3 EPS $2.35 vs $2.75 Est; Revenues $4.63B vs $4.73B Est
  • Shire (NASDAQ: SHPGY) Reported Q3 EPS $1.28 vs $1.30; Revenues $1.09B vs $1.07B
  • Biogen Idec (NASDAQ: BIIB) Reported Q3 EPS $1.43 vs $1.53 Est; Revenues $1.31B vs $1.27B Est
  • Merck & Co (NYSE: MRK) Reported Q3 EPS $0.94 vs $0.91 Est; Revenues $12.02B vs $11.61B Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting losses of about 0.5%
  • Energy futures are trading lower, with crude oil posting losses of about 2%
  • Natural Gas futures are higher by about 1.5% and copper is trading lower by about 1.75%
To see more commodities news, click here.

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name Resistance-2 Resistance-1 Mid Pivot Support-1 Support-2
E-Mini Dow 12492 12334 12070 11912 11648
E-Mini S&P500 1321 1302 1270 1250 1218
Gold 1779 1762 1734 1718 1691
Crude 96.50 95.23 92.99 91.72 89.48
Natural Gas 3.99 3.89 3.73 3.62 3.46
EUR/USD 1.4482 1.4335 1.4099 1.3952 1.3716
USD/JPY 76.58 76.26 75.95 75.63 75.33
US Dollar Index 77.06 76.07 75.46 74.47 73.86

Posted-In: Earnings M&A News Upgrades Downgrades Futures Technicals Commodities Best of Benzinga

 

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