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
- Yesterday, Sara Lee (NYSE: SLE) Approves Special $3 Dividend, Reverse 1-for-5 Stock Split
- GameStop (NYSE: GME) and Sony (NYSE: SNE) Computer Entertainment Europe Announce Downloadable Content Initiative
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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