Thursday, December 8, 2011
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
• The New York Stock Exchange had its first day on which a million shares were exchanged on December 15th, 1886.
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Benzinga's Top News
- Costco COST reports Q1 EPS $0.80 vs $0.80 Est; Revenues $21.18B vs $21.26B Est
- Bank of England leaves interest rate at 0.50%
- GE GE and Microsoft MSFT to launch joint venture aimed at global healthcare system transformation.
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade about 10 points lower.
- U.S. Dollar trades about 0.06% lower.
To see more pre-market news, click here.
Overseas Trading
- European markets are mixed in afternoon trading. Britain's FTSE 100 added 0.38%, Germany's DAX gained 0.18% and France's CAC 40 lost 0.16% on the session.
- Asian stocks ended the session lower. China's Shanghai lost 0.13%, Japan's Nikkei 225 slid 0.66% and Hong Kong's Hang Seng Index lost 0.69%.
To see more overseas news, click here.
Upgrades/Downgrades
- Morgan Stanley upgrades Madison Square Garden MSG to Overweight
- Piper Jaffray upgrades Pacific Sunwear PSUN to Neutral, $2 PT
To see more of today's upgrades, click here.
- Morgan Stanley downgrades Tesla Motors TSLA to Underweight
- Citigroup downgrades Expedia EXPE to Neutral, PT Lowered to $33
To see more of today's downgrades, click here.
On the Economic Calendar
- Bank of England leaves interest rate at 0.50%
- ECB rate decision is set to report at 7:45 a.m. ET
- Initial and Continuing Claims are due at 8:30 a.m.
- Wholesale Inventories are to report at 10:00 a.m.
To see more economic news, click here
Earnings
- Costco COST reports Q1 EPS $0.80 vs $0.80 Est; Revenues $21.18B vs $21.26B Est
- Smithfield Foods SFD reports Q2 EPS $0.76 vs $0.69 Est; Revenues $3.30B vs $3.21B Est
- Layne Christensen LAYN reports Q3 EPS $0.45 vs $0.49 Est; Revenues $294.90M vs $278.08M Est
To see more earnings announcements, click here.
Corporate News
- Watson Pharmaceuticals WPI and Antares Pharma AIS announced that the FDA has approved Antares' topical oxybutynin gel 3% product.
- Mosaic MOS announced that it has reached a settlement with Potash Corporation POT regarding the parties' dispute over the obligations of Mosaic's wholly-owned subsidiary to supply potash from its Esterhazy mine to PCS pursuant to a tolling agreement which began in 1978.
- GE GE and Microsoft MSFT to launch joint venture aimed at global healthcare system transformation.
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting losses of about 0.11%
- Energy futures are trading higher, with crude oil posting gains of about 0.39%
- Natural Gas futures are higher by about 0.32% and copper is trading higher by about 0.37%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and ForexName | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
E-Mini Dow | 12371 | 12293 | 12174 | 12096 | 11977 |
E-Mini S&P 500 | 1282 | 1273 | 1258 | 1249 | 1234 |
Gold | 1762 | 1754 | 1739 | 1731 | 1715 |
Crude | 102.99 | 101.77 | 100.74 | 99.50 | 98.45 |
Natural Gas | 3.53 | 3.48 | 3.44 | 3.39 | 3.35 |
EUR/USD | 1.3506 | 1.3458 | 1.3404 | 1.3356 | 1.3302 |
USD/JPY | 77.84 | 77.75 | 77.68 | 77.59 | 77.52 |
US Dollar Index | 78.99 | 78.72 | 78.54 | 78.27 | 78.08 |
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