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Financial Breakfast: Morning News Summary for November 22, 2011

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Tuesday, November 22, 2011

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

The first exchange traded fund, or ETF, was SPDR. It was cretaed in 1993 by State Street Global Advisors and tracks the S&P 500 stock index.

Benzinga's Top News

  • KKR (NYSE: KKR), Samson near $7B-plus deal for on-shore assets
  • Hormel Foods (NYSE: HRL) reports Q4 EPS $0.43 vs $0.42 Est; Revenues $2.1B vs $2.11B Est
  • Medtronic (NYSE: MDT) reports Q2 EPS $0.84 vs $0.82 Est; Revenues $4.13B vs $4.07B Est
  • Campbell Soup (NYSE: CBP) reports Q1 EPS $0.82 vs $0.79 Est; Revenues $2.16B vs $2.21B Est

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher with Dow Futures up about 30 points.
  • U.S. Dollar trades about 0.25% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are higher in afternoon trading. Britain's FTSE 100 added 0.75%, Germany's DAX gained 0.76% and France's CAC 40 added 0.78% on the session.
  • Asian stocks ended the session mixed. China's Shanghai fell 0.05%, Japan's Nikkei 225 lost 0.4% and Hong Kong's Hang Seng Index added 0.14%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Auriga upgrades Collective Brands (NYSE: PSS) to Buy, $20 PT
  • Goldman Sachs upgrades AutoNation (NYSE: AN) to Neutral
To see more of today's upgrades, click here.

  • Auriga downgrades Trina Solar (NYSE TSL) to Sell, PT lowered to $3.50
  • Bank of America downgrades Dole Foods (NASDAQ: DOLE) to Underperform, PO lowered to $9
To see more of today's downgrades, click here.

On the Economic Calendar

  • GDP and Personal Consumption is to be reported at 8:30 a.m. ET.
  • Richmond Fed Manufacturing Index is set to report at 10:00 a.m.
To see more economic news, click here

Earnings

  • Hormel Foods (NYSE: HRL) reports Q4 EPS $0.43 vs $0.42 Est; Revenues $2.1B vs $2.11B Est
  • Medtronic (NYSE: MDT) reports Q2 EPS $0.84 vs $0.82 Est; Revenues $4.13B vs $4.07B Est
  • Campbell Soup (NYSE: CBP) reports Q1 EPS $0.82 vs $0.79 Est; Revenues $2.16B vs $2.21B Est
  • Chicos Fas (NYSE: CHS) reports Q3 EPS $0.18 vs $0.20 Est; Revenues $538.50M vs $548.89M Est
  • Patterson (NASDAQ: PDCO) reports Q2 EPS $0.45 vs $0.46 Est; Revenues $856.90M vs $887.84M Est
  • Cracker Barrel (NASDAQ: CBRL) reports Q1 EPS $1.03 vs $1.05 Est; Revenues $598.40M vs $602.20M Est
To see more earnings announcements, click here.

Corporate News

  • The recent struggles of A123 Systems (NASDAQ: AONE) has investors and market participants asking a very important, and very valid question – Can the company survive?
  • KKR, Samson near $7B-plus deal for on-shore assets
  • Pfizer (NYSE: PFE) will acquire Excaliard, a privately owned biopharmaceutical company. Specific financial terms are confidential.
  • BioLineRx (NASDAQ: BLRX) announced that it has received approval from the Indian regulatory authorities and the Indian local ethics committees to commence the Phase II/III CLARITY clinical trial of BL-1020.
  • Shanda Interactive Entertainment (Nasdaq: SNDA) announced the Parent Company will acquire Shanda for $20.675 per ordinary share or $41.35 per American Depositary Share, each representing two ordinary shares.
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 1.2%
  • Natural Gas futures are higher by about 1% and copper is trading higher by about 1.5%
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 11863 11695 11550 11390 11253
E-Mini S&P500 1221 1206 1193 1178 1165
Gold 1751 1714 1690 1654 1630
Crude 98.90 98.05 96.61 95.70 94.32
Natural Gas 3.53 3.47 3.37 3.31 3.22
EUR/USD 1.3595 1.3540 1.3485 1.3431 1.3375
USD/JPY 77.09 76.98 76.87 76.76 76.65
US Dollar Index 78.97 78.72 78.46 78.21 77.94

Posted-In: Earnings Long Ideas M&A News Short Ideas Upgrades Downgrades Futures Best of Benzinga

 

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