Financial Breakfast: Morning News Summary for May 3, 2012

Benzinga's Top News

• Viacom VIA Reports Q2 EPS $0.98 vs $0.89 Est; Revenues $3.33B vs $3.3B Est
• Lear LEA Reports Q1 EPS $1.32 vs $1.22 Est; Revenues $3.6B vs $3.60B Est
• Kensey Nash KNSY Agrees to Be Acquired by DSM for $38.50 per Share in Cash

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 26 points.
• U.S. Dollar trades about 0.14% higher.
To see more pre-market news, click here.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.56%, Germany's DAX gained 1.07% and France's CAC 40 jumped 1.29% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 0.07%, Japan's Nikkei 225 gained 0.31%, and Hong Kong's Hang Seng slid 0.28%.
• German Unemployment Rises In April
To see more overseas news, click here.

Upgrades/Downgrades

• Credit Suisse Upgrades Salesforce CRM from Neutral to Outperform, Raises PT from $146 to $185
• Oppenheimer Upgrades TW telecom TWTC from Perform to Outperform, Announces PT of $30
To see more of today's upgrades, click here.
• Bank of America Downgrades Visteon VC from Buy to Neutral, Lowers PO from $60 to $50
• Piper Downgrades Green Mountain Coffee Roasters GMCR from Overweight to Neutral, Lowers PT from $65 to $40
To see more of today's downgrades, click here.

On the Economic Calendar

• 07:30 a.m. ET - Challenger Job Cuts (YoY)
• 07:45 - EUR Interest Rate Decision
• 08:30 - Initial Jobless Claims
• 08:30 - Chicago Fed President Evans Speaks
• 08:30 - Continuing Jobless Claims
• 10:00 - ISM Non-Manufacturing Index
• 10:30 - Natural Gas Storage
To see more economic news, click here

Earnings

• Quanta Services PWR Reports Q1 EPS $0.22 vs $0.15 Est; Revenues $1.43B vs $1.26B Est
• Viacom VIA Reports Q2 EPS $0.98 vs $0.89 Est; Revenues $3.33B vs $3.3B Est
• Lear LEA Reports Q1 EPS $1.32 vs $1.22 Est; Revenues $3.6B vs $3.60B Est
• Steven Madden SHOO Reports Q1 EPS $0.50 vs $0.50 Est; Revenues $266M vs $249.93M Est
To see more earnings announcements, click here.

Corporate News

• Kensey Nash KNSY Agrees to Be Acquired by DSM for $38.50 per Share in Cash
To see more corporate news, click here.

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.54%
• Energy futures are trading lower, with crude oil posting early losses of about 0.45%
• Natural Gas futures are trading 1.0% higher and copper is trading lower by about 0.58%
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	1412	1405	1397	1389	1381
Gold	1668	1660	1653	1646	1638
Crude	106.59	105.99	105.45	104.85	104.31
Natural Gas	2.44	2.35	2.29	2.20	2.14
EUR/USD	1.3277	1.3217	1.3169	1.3109	1.3062
US Dollar Index	79.63	79.41	79.18	78.96	78.73



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