Financial Breakfast: Morning News Summary for November 7, 2011

Monday, November 7, 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

  • BP BP plans to sell its stake in Argentina's Pan American Energy to China's Cnooc CEO for $7.1 billion collapsed this weekend.
  • Rumors circulate that Italy's Prime Minister Berlusconi may resign.
  • Dish Network DISH Reported Q3 EPS $0.71 vs $0.73 Est; Revenues $3.60B vs $3.65B Est
  • American Dental Partners ADPI agreed to be bought by private-equity firm JLL Partners Inc for $19 per share in cash.

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower with Dow Futures down over 65 points.
  • U.S. Dollar trades about 0.16% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.6%, Germany's DAX slid 0.5% and France's CAC 40 lost 0.7% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai lost 0.7%, Japan's Nikkei 225 slid 0.4% and Hong Kong's Hang Seng Index lost 0.8%.
  • Rumors circulate that Italy's Prime Minister Berlusconi may resign.
To see more overseas news, click here.

Upgrades/Downgrades

  • Jefferies upgraded Dragonwave DRWI to Buy, PT raised to $10.
  • Goldman Sachs upgraded Lumber Liquidators LL to Buy, $19 PT.
To see more of today's upgrades, click here.

  • Deutsche Bank downgraded Frontline FRO to Hold, PT lowered to $5.
  • Jefferies downgraded NextEra Energy NEE to Hold, PT lowered to $57.
To see more of today's downgrades, click here.

On the Economic Calendar

  • September Consumer Credit is set to report at 3:00 p.m. ET; Survey is for $5.2B.
To see more economic news, click here

Earnings

  • Dish Network DISH Reported Q3 EPS $0.71 vs $0.73 Est; Revenues $3.60B vs $3.65B Est
  • Houston Wire & Company HWCC Reported Q3 EPS $0.28 vs $0.31 Est; Revenues $105.80M vs $107.53M Est.
  • EnerNOC ENOC Reported Q3 EPS $1.96 vs $1.73 Est; Revenues $169.2M vs $161.46M Est.
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting gains of about 1%
  • Energy futures are trading higher, with crude oil posting gains of about 0.4%
  • Natural Gas futures are lower by about 1.2% and copper is trading lower by about 0.5%
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 12132 12039 11914 11821 11696
E-Mini S&P500 1272 1261 1248 1237 1223
Gold 1772 1764 1756 1748 1741
Crude 96.13 95.28 94.07 93.22 92.01
Natural Gas 3.88 3.84 3.80 3.76 3.72
EUR/USD 1.3945 1.3867 1.3788 1.3710 1.3631
USD/JPY 78.42 78.32 78.15 78.05 77.89
US Dollar Index 77.85 77.48 77.12 76.75 76.39

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Posted In: EarningsLong IdeasNewsGuidanceShort IdeasUpgradesDowngradesFuturesTechnicalsCommoditiesContractsForexM&AEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading IdeasGeneral
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