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Financial Breakfast: Morning News Summary for May 21, 2012

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Monday, May 21, 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

  • Lowes (NYSE: LOW) Reports Q1 EPS $0.44 vs $0.42 Est; Revenues $13.2B vs $12.99B Est
  • Yahoo! (NASDAQ: YHOO) and Alibaba Reach Agreement on Comprehensive Plan for Alibaba Stake
  • BlackRock (NYSE: BLK) Announces Secondary Offering of its Common Stock held by Barclays; Plans $1B Stock Repurchase
  • Domestic Pre-Market Trading

    • U.S. Equity Markets trade higher as Dow futures trade up about 88 points.
    • U.S. Dollar trades about 0.15% lower.
    To see more pre-market news, click here.

    Overseas Trading

    • European markets are higher in afternoon trading. Britain's FTSE 100 jumped 0.79%, Germany's DAX added 1.16% and France's CAC 40 advanced 1.02% on the session.
    • Asian stocks ended the session mixed. China's Shanghai added 0.17%, Japan's Nikkei 225 advanced 0.26%, and Hong Kong's Hang Seng slid 0.16%.
    To see more overseas news, click here.

    Upgrades/Downgrades

    • Brean Murray Carret & Co. Upgrades American Eagle Outfitters (NYSE: AEO) from Hold to Buy, Maintains PT at $23
    • Brean Murray Carret & Co. Upgrades Alpha Natural Resources (NYSE: ANR) from Hold to Buy, Announces PT of $15
    To see more of today's upgrades, click here.

    • Canaccord Downgrades Ross Stores (NASDAQ: ROST) from Buy to Hold, Announces PT of $67
    • Goldman Sachs Downgrades XL Group (NYSE: XL) from Neutral to Sell, Lowers PT from $22 to $21
    To see more of today's downgrades, click here.

    On the Economic Calendar

    • 08:30 a.m. ET - Chicago Fed National Activity
    • 11:30 - 6-Month Bill Auction
    • 11:30 - 3-Month Bill Auction
    To see more economic news, click here

    Earnings

    • Lowes (NYSE: LOW) Reports Q1 EPS $0.44 vs $0.42 Est; Revenues $13.2B vs $12.99B 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 0.01%
    • Energy futures are trading higher, with crude oil posting early gains of about 0.36%
    • Natural Gas futures are trading 1.86% lower and copper is trading higher by about 0.84%
    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 1317 1304 1296 1283 1276
    Gold 1615 1603 1585 1573 1556
    Crude 94.04 92.84 92.10 90.85 90.06
    Natural Gas 2.84 2.78 2.69 2.63 2.54
    EUR/USD 1.2889 1.2834 1.2737 1.2682 1.2585
    US Dollar Index 82.21 81.72 81.44 80.95 80.66


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

 

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