Financial Breakfast: Morning News Summary for November 10, 2011

Benzinga's Top News

• Goldman Sachs GS Raised $1.1B From Sale of ICBC Shares
• Lucas Papademos to be Greek Interim Prime Minister
• Bank of England Keeps Interest Rates Steady; 0.50% vs 0.50% estimate.
• Kohl's KSS Reports Q3 EPS $0.80 vs $0.78 Est; Revenues $4.38B vs $4.40B Est
• Viacom VIA Reports Q4 EPS $1.06 vs $1.03; Revenues $4.05B vs $3.75B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher with Dow Futures up about 100 points.
• U.S. Dollar trades about 0.4% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.13%, Germany's DAX added 1.1% and France's CAC 40 gained 0.6% on the session.
• Asian stocks ended the session lower. China's Shanghai lost 1.8%, Japan's Nikkei 225 slid 2.9% and Hong Kong's Hang Seng Index tumbled 5.25%.
• Bank of England Keeps Interest Rates Steady; 0.50% vs 0.50% estimate.

Upgrades/Downgrades

• Morgan Stanley Upgrades Vertex Pharmaceuticals VRTX to Equal-weight, $32 PT.
• Deutsche Bank Upgrades Cisco Systems CSCO to Buy, PT Raised to $22.

• JP Morgan Downgrades Computer Sciences CSC to Underweight, PT Lowered to $27.
• Deutsche Bank Downgrades Kellogg K to Hold, PT Lowered to $50.

On the Economic Calendar

• The Import Price Index, Trade Balance, Initial Jobless and Continuing Claims are due at 8:30 a.m. ET.
• The Monthly Budget Statement is set to release at 2:00 p.m..

Earnings

• Kohl's KSS Reports Q3 EPS $0.80 vs $0.78 Est; Revenues $4.38B vs $4.40B Est
• Viacom VIA Reports Q4 EPS $1.06 vs $1.03; Revenues $4.05B vs $3.75B Est
• AECOM Tech ACM Reports Q4 EPS $0.75 vs $0.73 Est; Revenues $2.12B vs $2.17B Est

Corporate News

• Goldman Sachs GS Raised $1.1B From Sale of ICBC Shares
• Take-Two Interactive Software TTWO announced that, subject to market and other conditions, it intends to offer $200 million of convertible senior notes due 2016.
• Ampio Pharmaceuticals AMPE announced that an IRB approved, randomized, vehicle-controlled, double-blinded study indicates that Ampion provides safe and effective anti-inflammatory relief when administered intranasally to patients with nasal inflammation.
• Smith Electric Vehicles Corp. today filed a registration statement with the Securities and Exchange Commission for an initial public offering of its common stock. Smith Electric Vehicles designs, produces and sells zero-emission commercial electric vehicles to commercial fleet operators..

Commodities

• Precious metals are trading lower, with gold posting losses of about 1.1%
• Energy futures are trading higher, with crude oil posting gains of about 1.8%
• Natural Gas futures are higher by about 0.9% and copper is trading lower by about 1.7%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12290	12013	11858	11573	11410
E-Mini S&P500	1292	1258	1240	1207	1189
Gold	1814	1792	1778	1756	1742
Crude	99.35	97.56	96.05	94.27	92.75
Natural Gas	3.80	3.72	3.68	3.61	3.57
EUR/USD	1.3976	1.3758	1.3640	1.3422	1.3304
USD/JPY	78.08	77.95	77.73	77.59	77.39
US Dollar Index	79.27	78.72	77.70	77.15	76.12