Market Overview

Financial Breakfast: Morning News Summary for June 1, 2012

Friday, June 1, 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

  • China's Official PMI Data 50.4 in May vs 52.2 Est and 53.3 in April
  • Euro-Zone Manufacturing PMI declined to 45.1 in May, versus 45.9 in April.
  • Yesterday, Sara Lee (NYSE: SLE) Approves Special $3 Dividend, Reverse 1-for-5 Stock Split
  • Yesterday, Omnivision Technologies (NASDAQ: OVTI) Reports Q4 EPS $0.20 vs $0.22 Est; Revenues $218.5M vs $205.39M Est; Guides Lower

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade lower about 100 points.
  • U.S. Dollar trades about 0.30% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 fell 0.73%, Germany's DAX declined 2.41% and France's CAC 40 slid 1.4% on the session.
  • Asian stocks ended the session mixed. China's Shanghai added 0.09%, Japan's Nikkei 225 declined 1.2%, and Hong Kong's Hang Seng fell 0.38%.
  • China's Official PMI Data 50.4 in May vs 52.2 Est and 53.3 in April
  • Euro-Zone Manufacturing PMI declined to 45.1 in May, versus 45.9 in April.
To see more overseas news, click here.

Upgrades/Downgrades

  • Goldman Sachs Upgrades Blackstone Group (NYSE: BX) from Buy to CL-Buy, Announces PT of $16
  • Citigroup Upgrades Clorox (NYSE: CLX) from Neutral to Buy, Raises PT from $72 to $78
To see more of today's upgrades, click here.

  • Goldman Sachs Downgrades Apollo Global Management (NYSE: APO) from Buy to Neutral, Announces PT of $14
  • BMO Capital Markets Downgrades Leap Wireless (NASDAQ: LEAP) from Market Perform to Underperform, Lowers PT from $7 to $5
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET - Personal Income (MoM)
  • 08:30 - Personal Spending (MoM)
  • 08:30 - Unemployment Rate
  • 08:30 - Nonfarm Payrolls
  • 08:30 - Core PCE Price Index (MoM)
  • 10:00 - Construction Spending (MoM)
  • 10:00 - ISM Manufacturing Index
  • 16:00 - Total Vehicle Sales
To see more economic news, click here

Earnings

  • Yesterday, Omnivision Technologies (NASDAQ: OVTI) Reports Q4 EPS $0.2 vs $0.22 Est; Revenues $218.5M vs $205.39M Est; Guides Lower
  • Yesterday, Vera Bradley (NYSE: VRA) Reports Q1 EPS $0.31 vs $0.29 Est; Revenues $117.2M vs $116.83M Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading lower, with gold posting early losses of about 0.59%
  • Energy futures are trading lower, with crude oil posting early losses of about 2.17%
  • Natural Gas futures are trading 2.68% lower and copper is trading lower by about 1.08%
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 1329 1317 1307 1295 1285
Gold 1584 1572 1562 1551 1541
Crude 89.30 87.90 86.88 85.48 84.48
Natural Gas 2.54 2.47 2.42 2.35 2.30
EUR/USD 1.2467 1.2416 1.2376 1.2324 1.2284
US Dollar Index 83.57 83.36 83.08 82.87 82.59


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Posted-In: Earnings News Bonds Upgrades Downgrades Futures Technicals Commodities Best of Benzinga

 

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