Financial Breakfast: Morning News Summary for January 27, 2012

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Benzinga's Top News

• Eastman EMN to acquire Solutia SOA for $22/share; raises 2013 EPS outlook to $6+ vs $4.97 est
• Ford Motor F Reports Q4 Ops EPS $0.20 vs $0.25 Est; Revenues $34.6B vs $32.35B Est
• Procter & Gamble PG Reports Q2 EPS $1.10 vs $1.08 Est; Revenues $22.10B vs $22.19B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 8 points.
• U.S. Dollar trades about 0.23% lower.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.43%, Germany's DAX slid 0.01% and France's CAC 40 fell 0.41% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 1.03%, Japan's Nikkei 225 fell 0.09%, and Hong Kong's Hang Seng added 0.31%.

Upgrades/Downgrades

• Piper Jaffray upgrades JC Penney JCP to Overweight
• Bank of America upgrades AutoNation AN to Neutral

• Benchmark downgrades Travelzoo TZOO to Hold
• Morgan Keegan downgrades Juniper Networks JNPR to Market Perform

On the Economic Calendar

• Q4 GDP and Personal Consumption are due at 8:30 a.m. ET
• U of Michigan Confidence Index is set to report at 9:55 a.m.

Earnings

• Ford Motor F Reports Q4 Ops EPS $0.20 vs $0.25 Est; Revenues $34.6B vs $32.35B Est
• Procter & Gamble PG Reports Q2 EPS $1.10 vs $1.08 Est; Revenues $22.10B vs $22.19B Est
• Altria Group MO Reports Q4 EPS $0.50 vs $0.49 Est; Revenues $6.13B May Not Compare to $4.23B Est
• Newell Rubbermaid NWL Reports Q4 EPS $0.40 vs $0.38 Est; Revenues $1.5B vs $1.49B Est

Corporate News

• Eastman EMN to acquire Solutia SOA for $22/share; raises 2013 EPS outlook to $6+ vs $4.97 est
• US Airways LCC and Association of Flight Attendants reach tentative agreement

Commodities

• Precious metals are trading lower, with gold posting losses of about 0.25%
• Energy futures are trading higher, with crude oil posting gains of about 0.47%
• Natural Gas futures are higher by about 0.68% and copper is trading higher by about 0.53%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini S&P 500	1338	1326	1318	1306	1297
Gold	1746	1733	1718	1705	1689
Crude	102.33	101.10	100.16	98.94	98.01
Natural Gas	2.89	2.74	2.64	2.49	2.39
EUR/USD	1.3217	1.3162	1.3128	1.3073	1.3040
US Dollar Index	79.83	79.67	79.43	79.27	79.03

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