Financial Breakfast: Morning News Summary for December 5, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• The longest period in which the exchange was closed occurred during WW1, when the NYSE was closed for four and a half months starting July 31st, 1914.
Benzinga's Top News
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Domestic Pre-Market Trading
- U.S. Equity Markets trade flat as Dow futures trade about $0.01 lower.
- U.S. Dollar trades about 0.4% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 added 0.6%, Germany's DAX gained 0.9 % and France's CAC 40 added 1.37% on the session.
- Asian stocks ended the session mixed. China's Shanghai lost 1.1%, Japan's Nikkei 225 gained 0.6% and Hong Kong's Hang Seng Index added 0.7%.
- Euro Central Bank lending via IMF seen in 100-200B Euro range
To see more overseas news, click here.
Upgrades/Downgrades
- Barclays upgrades DR Horton (NYSE: DHI) to Overweight, $16 PT
- Roth Capital upgrades Ariba (NASDAQ: ARBA) to Buy, $36 PT
To see more of today's upgrades, click here.
- Goldman Sachs downgrades MOLX (NASDAQ: MOLX) to Neutral
- Piper Jaffray downgrades Dreamworks (NASDAQ: DWA) to NEutral, PT lowered to $20
To see more of today's downgrades, click here.
On the Economic Calendar
- ISM Non-Farm Composite and Factory Orders are set to report at 10:00 a.m. ET
To see more economic news, click here
Earnings
- Hi-Tech Pharmacal Reports Q2 EPS $1.04 vs $0.77 Est; Revenues $56.9M vs $51.4M Est
- Dollar General Reports Q3 EPS $0.50 vs $0.47 Est; Revenues $3.60B vs $3.57B Est
To see more earnings announcements, click here.
Corporate News
- Western Digital Corp. (NYSE: WDC) raised its financial outlook for the December quarter and restarts progress of its operations in Thailand.
- Acadia Healthcare (NASDAQ: ACHC) announced a a public offering of 8.33 million shares.
- GLG Life Tech (NASDAQ: GLGL) announced that the FDA has issued a fourth letter of no objection for its supplement, RebPure 95 stevia extract.
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.1%
- Energy futures are trading higher, with crude oil posting gains of about 0.2%
- Natural Gas futures are higher by about 0.06% and copper is trading higher by about 0.3 %
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 Dow | 12241 | 12121 | 12058 | 11938 | 11875 |
| E-Mini S&P 500 | 1270 | 1257 | 1249 | 1236 | 1228 |
| Gold | 1775 | 1762 | 1753 | 1740 | 1731 |
| Crude | 102.62 | 101.87 | 100.82 | 100.07 | 99.02 |
| Natural Gas | 3.69 | 3.64 | 3.60 | 3.55 | 3.52 |
| EUR/USD | 1.3620 | 1.3505 | 1.3434 | 1.3318 | 1.3247 |
| USD/JPY | 78.25 | 78.11 | 77.93 | 77.79 | 77.60 |
| US Dollar Index | 79.40 | 79.07 | 78.51 | 78.24 | 77.74 |
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