Market Overview

Financial Breakfast: Morning News Summary for December 5, 2011

Monday, 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

SAP AG (NYSE: SAP) announced on Saturday that it would acquire cloud software maker SuccessFactors, Inc. (NYSE: SFSF) for $3.4 billion in cash</li> Dollar General Reports Q3 EPS $0.50 vs $0.47 Est; Revenues $3.60B vs $3.57B Est.</li> Privately Held Agricultural Giant Cargill to Cut Workforce by 2,000, Citing Weak Global Economy.</li> AutoNation, Inc. (NYSE: AN) today announced that its retail new vehicle unit sales in November 2011, as reported to the applicable automotive manufacturers, totaled 18,692 an increase of 21% as compared to November 2010.</li> </ul>

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.

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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

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.


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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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Posted-In: News Broad U.S. Equity ETFs Upgrades Downgrades Contracts Events Global Econ #s Economics Pre-Market Outlook Markets Analyst Ratings Movers Tech ETFs Reviews Best of Benzinga

 

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