News Summary for June 16, 2011

This is your Benzinga news summary and traders' outlook for Thursday, June 16, 2011, covering headlines from overnight and Thursday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading flat after the markets posted over a 1.5% loss yesterday. The U.S. dollar is trading higher this morning, continuing to rise after posting over a 1% gain yesterday. Overseas last night, the euro continued to fall against the dollar after Greece debt crisis maybe getting out of control and the pound fell after the U.K. reported poor retail sales data. Asian stocks fell to their lowest level in about three months, trailing the U.S. markets. On the economic calendar today, the Current Account Balance, Jobless Claims, and Housing Starts are due at 08:30 a.m. ET. Yesterday after the close, Finisar FNSR reported EPS in-line and a revenues miss while slashing guidance for the first quarter. Shares of Finisar traded 23% lover after-hours. Later this morning, Kroger KR will report quarterly results. Earlier this morning, Energy Transfer ETE announced it will acquire Southern Union SUG for $4.1 billion. On the commodity front, gold and silver futures are trading relatively flat on the session. However, Crude oil and gasoline futures are trading higher on the session, rebounding after a 4% drop yesterday. In corporate news, Citigroup C announced the May cyber attack on the company affected approximately 360,000 accounts, nearly double as initially thought. Discover Financial DFS yesterday announced a $1 billion dollar share repurchase program. This concludes your news summary for June 16, 2011.