Financial Breakfast: Morning News Summary for June 25, 2012
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
- Ventrus Biosciences (NASDAQ: VTUS) Announces Results From Pivotal Phase 3 Trial of Iferanserin Did Not Meet Endpoints
- Teva (NYSE: TEVA) Announces Favorable Court Ruling in COPAXONE Patent Infringement Litigation
- Mylan (NYSE: MYL) Comments on Copaxone Ruling; 2012 Earnings Guidance and 2013 Earnings Targets Remain Unchanged
- Over the Weekend, Reports Surfaced that Research in Motion (NASDAQ: RIMM) May Sell Handset Unit or Spin Off into Two Businesses -Sunday Times
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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