Financial Breakfast: Morning News Summary for March 23, 2012

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Friday, March 23, 2012

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

Benzinga's Top News

  • Darden Restaurants DRI Reports Q1 EPS $1.25 vs $1.24 Est; Revenues $2.16B vs $2.14B Est
  • Zynga's ZNGA CEO to Sell 15% of His Stake in Secondary Offering

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade down about 7 points.
  • U.S. Dollar trades about 0.43% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.11%, Germany's DAX slid 0.14% and France's CAC 40 fell 0.43% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai fell 1.03%, Japan's Nikkei 225 lost 1.14%, and Hong Kong's Hang Seng slid 1.11%.
To see more overseas news, click here.

Upgrades/Downgrades

  • JP Morgan Upgrades The Mosaic MOS from Neutral to Overweight, Raises PT from $57 to $68
  • Citigroup Upgrades DuPont Fabros Technology DFT from Neutral to Buy, Raises PT from $20.5 to $27
To see more of today's upgrades, click here.

  • Citigroup Downgrades CoreSite Realty COR from Buy to Neutral, Raises PT from $19.5 to $23.5
  • Piper Jaffray Downgrades The Wet Seal WTSLA from Overweight to Neutral, Lowers PT from $4 to $3.5
To see more of today's downgrades, click here.

On the Economic Calendar

  • 10:00 a.m. ET - New Home Sales
To see more economic news, click here

Earnings

  • Darden Restaurants DRI Reports Q1 EPS $1.25 vs $1.24 Est; Revenues $2.16B vs $2.14B Est
To see more earnings announcements, click here.

Corporate News

  • Zynga's ZNGA CEO to Sell 15% of His Stake in Secondary Offering
  • Vipshop VIPS Announces Pricing of 11M Share Initial Public Offering at $6.50 per ADS
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.43%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.34%
  • Natural Gas futures are higher by about 0.35% and copper is trading higher by about 1.12%
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 S&P 500 1405 1397 1389 1391 1374
Gold 1666 1655 1641 1630 1616
Crude 107.89 106.73 105.62 104.46 103.35
Natural Gas 2.42 2.34 2.29 2.21 2.16
EUR/USD 1.3316 1.3257 1.3195 1.3137 1.3075
US Dollar Index 80.46 80.18 79.91 79.63 79.37

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Posted In: EarningsNewsBondsGuidanceUpgradesDowngradesFuturesTechnicalsCommoditiesForexEventsGlobalEcon #sEconomicsPre-Market OutlookMarketsAnalyst RatingsTrading Ideas
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