Financial Breakfast: Morning News Summary for May 2, 2012
Wednesday, May 2, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
- U.S. Equity Markets trade lower as Dow futures trade down about 25 points.
- U.S. Dollar trades about 0.49% higher.
- European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.64%, Germany's DAX gained 0.15% and France's CAC 40 added 0.58% on the session.
- Asian stocks ended the session higher. China's Shanghai added 1.75%, Japan's Nikkei 225 gained 0.31%, and Hong Kong's Hang Seng jumped 1.02%.
- German Unemployment Rises In April
- Bank of America Upgrades Genworth Financial (NYSE: GNW) from Underperform to Neutral, Maintains PO at $8
- Bank of America Upgrades Flextronics (NASDAQ: FLEX) from Underperform to Neutral, Raises PO from $6.5 to $7.5
- Brean Murray Carret & Co. Downgrades EQT (NYSE: EQT) from Buy to Hold, Removes PT of $77
- Cantor Fitzgerald Downgrades Endo Pharmaceuticals (NASDAQ: ENDP) from Buy to Hold, Lowers PT from $50 to $39
- 08:15 a.m. ET - ADP Nonfarm Employment Change
- 09:45 - New York NAPM
- 10:00 - Factory Orders (MoM)
- 10:30 - Gasoline Inventories
- 10:30 - Crude Oil Inventories
- CVS Caremark (NYSE: CVS) Reports Q1 EPS $0.65 vs $0.63 Est; Revenues $30.8B vs $30.31B Est
- Comcast (NASDAQ: CMCSA) Reports Q1 EPS $0.45 vs $0.42 Est; Revenues $14.88B vs $14.43B Est
- Time Warner (NYSE: TWX) Reports Q1 EPS $0.67 vs $0.64 Est; Revenues $7B vs $6.81B Est
- Barrick Gold (NYSE: ABX) Reports Q1 EPS $1.09 vs $1.11 Est; Revenues $3.64B vs $3.76B Est
- Garmin (NASDAQ: GRMN) Reports Q1 EPS $0.45 vs $0.41 Est; Revenues $557M vs $520.18M Est
- Ascena Retail Group (NASDAQ: ASNA) Reaches Agreement to Acquire Charming Shoppes (NASDAQ: CHRS) for $890M or $7.35/Share
- Microchip Technology (NASDAQ: MCHP) to Acquire Standard Microsystems (NASDAQ: SMSC) for $37 per Share Totaling $939M
- Precious metals are trading lower, with gold posting early losses of about 0.62%
- Energy futures are trading lower, with crude oil posting early losses of about 0.42%
- Natural Gas futures are trading 1.0% lower and copper is trading lower by about 1.26%
Technical Levels for Futures and Forex
|E-Mini S&P 500||1421||1411||1401||1390||1380|
|US Dollar Index||79.25||79.08||78.87||78.69||78.48|
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