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Financial Breakfast: Morning News Summary for June 8, 2012

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Friday, June 8, 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

  • Molina Healthcare (NYSE: MOH) Rises 29% Pre-Market on Thursday's Announcement it Would Continue as Medicaid Managed Care Provider in Ohio

Domestic Pre-Market Trading

  • U.S. Equity Markets trade lower as Dow futures trade lower about 61 points.
  • U.S. Dollar trades about 0.87% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 declined 0.95%, Germany's DAX fell 0.83 % and France's CAC 40 slid 1.04% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai slid 0.51%, Japan's Nikkei 225 fell 2.09%, and Hong Kong's Hang Seng declined 0.94%.
To see more overseas news, click here.


  • Morgan Stanley Upgrades Kinder Morgan (NYSE: KMI) from Equal-weight to Overweight, Maintains $42 PT
  • Bank of America Upgrades Onyx Pharmaceuticals (NASDAQ: ONXX) from Neutral to Buy, Raises PO from $47 to $57
To see more of today's upgrades, click here.

  • Deutsche Bank Downgrades Navistar (NYSE: NAV) from Buy to Hold, Lowers PT from $50 to $35
  • Jefferies & Company Downgrades Red Robin Gourmet Burgers (NASDAQ: RRGB) from Buy to Hold, Raises PT from $26 to $32
To see more of today's downgrades, click here.

On the Economic Calendar

  • 08:30 a.m. ET - Trade Balance
To see more economic news, click here


    No Major Earnings this Morning
To see more earnings announcements, click here.

Corporate News

  • Coronado Biosciences (NASDAQ: CNDO) Receives Notice of Allowance for First U.S. Patent Covering CNDO-109
To see more corporate news, click here.


  • Precious metals are trading lower, with gold posting early losses of about 0.56%
  • Energy futures are trading lower, with crude oil posting early losses of about 3.14%
  • Natural Gas futures are trading 1.54% lower and copper is trading lower by about 2.77%
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 1336 1326 1319 1309 1300
Gold 1651 1620 1600 1569 1548
Crude 88.29 85.95 84.69 82.25 81.09
Natural Gas 2.49 2.38 2.32 2.21 2.15
EUR/USD 1.2659 1.2608 1.2574 1.2523 1.2489
US Dollar Index 82.74 82.53 82.24 82.03 81.75

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Posted-In: Bonds News Upgrades Downgrades Futures Commodities Technicals Forex Events Global Econ #s Economics Pre-Market Outlook Markets Analyst Ratings Trading Ideas General Best of Benzinga


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