Financial Breakfast: Morning News Summary for December 2, 2011

The first publicly traded securities in the United States were $80 million in U.S. government bonds, issued in 1790 to refinance Revolutionary War debt.

Benzinga's Top News

• Euro Central Bank lending via IMF seen in 100-200B Euro range
• Research in Motion RIMM no longer expects to meet its full year adjusted diluted earnings per share guidance of $5.25-6.00.
• Western Digital Corp. WDC raised its financial outlook for the December quarter and restarts progress of its operations in Thailand.
• Big Lots BIG reports Q3 EPS $0.06 vs $0.09 Est; Revenues $1.14B vs $1.13B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher with Dow Futures up about 150 points.
• U.S. Dollar trades about 0.17% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 1.5%, Germany's DAX gained 1.7% and France's CAC 40 added 1.77% on the session.
• Asian stocks ended the session mixed. China's Shanghai lost 1.1%, Japan's Nikkei 225 gained 0.54% and Hong Kong's Hang Seng Index added 0.2%.
• Euro Central Bank lending via IMF seen in 100-200B Euro range

Upgrades/Downgrades

• Goldman Sachs upgrades Lowe's LOW to Buy, $28 PT
• Sterne Agee upgrades Analog Devices ADI to Buy, $42 PT

• Citigroup downgrades Guess GES to Neutral, PT lowered to $33
• Bank of America downgrades Ameren AEE to Underperform, PO lowered to $32

On the Economic Calendar

• Nonfarm Payrolls and the Unemployment Rate is set to report at 8:30 a.m. ET

Earnings

• Big Lots BIG reports Q3 EPS $0.06 vs $0.09 Est; Revenues $1.14B vs $1.13B Est
• Scotiabank BNS reports Q4 EPS C$1.10 vs C$1.08 Est; Revenues C$4.35B vs C$4.30B Est

Corporate News

• Western Digital Corp. WDC raised its financial outlook for the December quarter and restarts progress of its operations in Thailand.
• Research in Motion RIMM no longer expects to meet its full year adjusted diluted earnings per share guidance of $5.25-6.00. Saying it would record a pre-tax provision in the third quarter of fiscal 2012 of approximately $485 million, $360 million after tax, related to its inventory valuation of BlackBerry PlayBook tablets.
• Mylan MYL has received final approval from the FDA for its Abbreviated New Drug Application for Tranexamic Acid Injection, 100 mg/mL, packaged in 1,000 mg/10 mL Single-dose Vials. This product is the generic version of Pharmacia & Upjohn's Cyklokapron Injection.

Commodities

• Precious metals are trading higher, with gold posting gains of about 0.9%
• Energy futures are trading higher, with crude oil posting gains of about 0.8%
• Natural Gas futures are lower by about 8% and copper is trading higher by about 1.7%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12109	12054	12008	11953	11907
E-Mini S&P500	1258	1250	1243	1235	1228
Gold	1768	1758	1748	1738	1727
Crude	102.31	101.15	100.01	98.85	97.71
Natural Gas	3.77	3.70	3.62	3.56	3.47
EUR/USD	1.3569	1.3518	1.3465	1.3411	1.3361
USD/JPY	77.91	77.81	77.68	77.55	77.42
US Dollar Index	78.88	78.62	78.38	78.14	77.89

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