Financial Breakfast: Morning News Summary for June 8, 2012
Friday, June 8, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
- Molina Healthcare (NYSE: MOH) Rises 29% Pre-Market on Thursday's Announcement it Would Continue as Medicaid Managed Care Provider in Ohio
- U.S. Equity Markets trade lower as Dow futures trade lower about 61 points.
- U.S. Dollar trades about 0.87% higher.
- 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%.
- 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
- 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
- 08:30 a.m. ET - Trade Balance
No Major Earnings this Morning
- Coronado Biosciences (NASDAQ: CNDO) Receives Notice of Allowance for First U.S. Patent Covering CNDO-109
- 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%
Technical Levels for Futures and Forex
|E-Mini S&P 500||1336||1326||1319||1309||1300|
|US Dollar Index||82.74||82.53||82.24||82.03||81.75|
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Latest Ratings for MOH
|Sep 2014||JP Morgan||Maintains||Neutral|
|Aug 2014||JP Morgan||Maintains||Neutral|
|Aug 2014||Cantor Fitzgerald||Maintains||Hold|
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