Market Overview

Financial Breakfast: Morning News Summary for June 25, 2012

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Monday, June 25, 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

  • Over the Weekend, Reports Surfaced that Research in Motion (NASDAQ: RIMM) May Sell Handset Unit or Spin Off into Two Businesses -Sunday Times
  • Teva (NYSE: TEVA) Announces Favorable Court Ruling in COPAXONE Patent Infringement Litigation
  • Rumors Circulated this Morning of up to a 3 Notch Downgrade of Spanish Banks by Moody's

Domestic Pre-Market Trading

  • U.S. Equity Markets trade down as Dow futures trade lower about 86 points.
  • U.S. Dollar trades about 0.41% higher.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon trading. Britain's FTSE 100 lost 0.57%, Germany's DAX fell 1.63% and France's CAC 40 slid 1.81% on the session.
  • Asian stocks ended the session lower as well. China's Shanghai fell 1.60%, Japan's Nikkei 225 lost 0.72%, and Hong Kong's Hang Seng slid 0.51%.
  • Rumors Circulated this Morning of up to a 3 Notch Downgrade of Spanish Banks by Moody's
To see more overseas news, click here.

Upgrades/Downgrades

  • Goldman Sachs Upgrades Sandisk (NASDAQ: SNDK) from Neutral to Buy, Announces PT of $65
To see more of today's upgrades, click here.

  • Morgan Stanley Downgrades Research In Motion (NASDAQ: RIMM) from Equal-weight to Underweight, Lowers PT to $7
To see more of today's downgrades, click here.

On the Economic Calendar

  • 10:00 a.m. ET - New Home Sales
  • 10:30 - Dallas Fed Mfg Business Index
  • 11:30 - 6-Month Bill Auction
  • 11:30 - 3-Month Bill Auction
To see more economic news, click here

Earnings

  • Park Electrochemical (NYSE: PKE) Reports Q1 EPS $0.24 vs $0.24 Est; Revenues $46M vs $45.00M Est
To see more earnings announcements, click here.

Corporate News

To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.18%
  • Energy futures are trading lower, with crude oil posting early losses of about 0.98%
  • Natural Gas futures are trading 2.59% higher and copper is trading lower by about 0.17%
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 1338 1332 1325 1318 1311
Gold 1584 1578 1568 1563 1553
Crude 82.17 81.16 79.36 78.35 76.55
Natural Gas 2.70 2.64 2.57 2.50 2.44
EUR/USD 1.2620 1.2593 1.2556 1.2530 1.2492
US Dollar Index 82.80 82.60 82.47 82.27 82.14


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

 

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