Financial Breakfast: Morning News Summary for June 4, 2012
Monday, June 4, 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
- Conn's (NASDAQ: CONN) Reports Q1 EPS $0.35 vs $0.33 Est; Revs $200.9M vs $202.1M Est; Raises FY2013 EPS View
- Salesforce.com (NYSE: CRM) Signs Definitive Agreement to Acquire Buddy Media for $689M
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade lower about 5 points.
- U.S. Dollar trades about 0.14% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are lower in afternoon trading. Britain's FTSE 100 closed, Germany's DAX declined 0.75% and France's CAC 40 added 0.71% on the session.
- Asian stocks ended the session lower as well. China's Shanghai slid 2.69%, Japan's Nikkei 225 declined 1.71%, and Hong Kong's Hang Seng fell 2.01%.
To see more overseas news, click here.
Upgrades/Downgrades
- Piper Jaffray Upgrades Inphi Corporation (NASDAQ: IPHI) from Neutral to Overweight, Maintains $12 PT
- Societe Generale Upgrades Pioneer Natural Resources (NYSE: PNR) from Sell to Hold, Maintains $92 PT
To see more of today's upgrades, click here.
- Citigroup Downgrades Charles Schwab (NASDAQ: SCHW) from Buy to Neutral, PT Lowered from $20 to $13
- Citigroup Downgrades TD Ameritrade (NASDAQ: AMTD) from Buy to Neutral, PT Lowered from $22 to $18
To see more of today's downgrades, click here.
On the Economic Calendar
- 09:45 a.m. ET - New York NAPM
- 10:00 - CB Employment Trends Index
- 10:00 - Factory Orders (MoM)
- 11:30 - 6-Month Bill Auction
- 11:30 - 3-Month Bill Auction
To see more economic news, click here
Earnings
- Conn's (NASDAQ: CONN) Reports Q1 EPS $0.35 vs $0.33 Est; Revs $200.9M vs $202.1M Est; Raises FY2013 EPS View
To see more earnings announcements, click here.
Corporate News
- Salesforce.com (NYSE: CRM) Signs Definitive Agreement to Acquire Buddy Media for $689M
- Entertainment Gaming Asia (NYSE: EDT) Announces 1-for-4 Reverse Stock Split Effective June 12, 2012
To see more corporate news, click here.
Commodities
- Precious metals are trading higher, with gold posting early gains of about 0.10%
- Energy futures are trading lower, with crude oil posting early losses of about 1.2%
- Natural Gas futures are trading 2.32% higher and copper is trading lower by about 0.71%
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 | 1315 | 1294 | 1284 | 1263 | 1252 |
| Gold | 1688 | 1657 | 1601 | 1571 | 1515 |
| Crude | 88.28 | 85.77 | 84.03 | 81.52 | 79.78 |
| Natural Gas | 2.41 | 2.37 | 2.34 | 2.30 | 2.27 |
| EUR/USD | 1.2563 | 1.2497 | 1.2392 | 1.2327 | 1.2222 |
| US Dollar Index | 84.06 | 83.48 | 83.09 | 82.51 | 82.12 |
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