Financial Breakfast: Morning News Summary for January 20, 2012

• Wall Street features architecture mostly from the Gilded Age, and some art deco styles.

Benzinga's Top News

• General Electric GE Reports Q4 EPS $0.39 vs $0.38 Est; Revenues $37.97B vs $40.20B Est
• Schlumberger SLB Reports Q4 EPS $1.11 vs $1.10 Est; Revenues $10.97B vs $10.79B Est
• China GrenTech GRRF announces amendment to definitive merger agreement for "going private" transaction for $3.15/share

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 8 points.
• U.S. Dollar trades about 0.15% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.05%, Germany's DAX slid 0.14% and France's CAC 40 fell 0.47% on the session.
• Asian stocks ended the session higher. China's Shanghai advanced 1.03%, Japan's Nikkei 225 added 1.47%, and Hong Kong's Hang Seng gained 0.84%

Upgrades/Downgrades

• Bank of America upgrades Raytheon (NYSE RTN) to Buy
• Deutsche Bank upgrades Noble Corporation NE to Buy

• Morgan Stanley downgrades Procter & Gamble PG to Equal-weight
• Bank of America downgrades Lockheed Martin LMT to Underperform

On the Economic Calendar

• Existing Home Sales are set to report at 10:00 a.m. ET
• Philly Fed Index is due at 10:00 a.m.

Earnings

• General Electric GE Reports Q4 EPS $0.39 vs $0.38 Est; Revenues $37.97B vs $40.20B Est
• Schlumberger SLB Reports Q4 EPS $1.11 vs $1.10 Est; Revenues $10.97B vs $10.79B Est
• Comerica CMA Reports Q4 EPS $0.48 vs $0.48 Est

Corporate News

• TreeHouse Foods (NYSE THS) lowers 2011 EPS guidance to $2.70-2.73 vs $2.90-3.00 and $2.94 est
• AZZ AZZ authorized the repurchase of up to 10% of outstanding common shares, guides 2013 revs $475-510M vs $466.1M est
• China GrenTech GRRF announces amendment to definitive merger agreement for "going private" transaction for $3.15/share

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 0.57%
• Natural Gas futures are higher by about 0.78% and copper is trading lower by about 1%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12657	12622	12554	12519	12451
E-Mini S&P 500	1319	1314	1307	1302	1294
Gold	1680	1668	1658	1646	1637
Crude	103.07	101.78	100.95	99.66	98.83
Natural Gas	2.49	2.39	2.34	2.24	2.19
EUR/USD	1.3057	1.3012	1.2923	1.2880	1.2793
US Dollar Index	80.99	80.61	80.42	80.04	79.84

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