Financial Breakfast: Morning News Summary for December 13, 2011

• The first form of the stock market in New York started in 1792 with just 24 stock brokers meeting in the Tontine Coffee House on the corner of Wall and Water Streets.

Benzinga's Top News

• The Pantry (NASDAQ PTRY) reports Q4 EPS $0.37 vs $0.55 Est; Revenues $2.18B vs $2.27B Est
• Alexza Pharmaceuticals ALXA announced that the FDA voted to recommend that ADASUVE be approved for use as a single dose in 24 hours when used with the FDA recommended Risk Evaluation and Mitigation Strategy.

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 60 points.
• U.S. Dollar trades about 0.11% lower.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.66%, Germany's DAX gained 0.73% and France's CAC 40 added 0.18% on the session.
• Asian stocks ended the session lower. China's Shanghai lost 1.9%, Japan's Nikkei 225 slid 1.2% and Hong Kong's Hang Seng Index fell 0.7%.

Upgrades/Downgrades

• Jefferies upgrades Panera Bread PNRA to Buy, PT $165
• Goldman Sachs upgrades Masco MAS to Neutral

• Citigroup downgrades Legg Mason LM to Neutral, Cuts PT to $27
• Jefferies downgrades St. Jude Medical STJ to Hold/li>

On the Economic Calendar

• Advanced Retail Sales are set to report at 8:30 a.m. ET.
• Business Inventories are due at 10:00 a.m.
• FOMC Rate Decision is to report at 2:15 p.m.

Earnings

• FactSet Research FDS reports Q1 EPS $1.10 vs $0.99 Est; Revenues $196.40M vs $197.15M Est
• The Pantry (NASDAQ PTRY) reports Q4 EPS $0.37 vs $0.55 Est; Revenues $2.18B vs $2.27B Est

Corporate News

• Penn Virginia PVA provides guidance; expects Q4 production at 10.7-11.0 Bcfe vs 12.2-12.7 Bcfe prior
• Alexza Pharmaceuticals ALXA announced that the FDA voted to recommend that ADASUVE be approved for use as a single dose in 24 hours when used with the FDA recommended Risk Evaluation and Mitigation Strategy.
• Hecla Mining HL announced that is has acquired the remaining 30% interest in the San Juan Silver project at Creede.

Commodities

• Precious metals are trading flat, with gold posting gains of about 0.02%
• Energy futures are trading higher, with crude oil posting gains of about 0.54%
• Natural Gas futures are higher by about 0.5% and copper is trading lower by about 1%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	12230	12087	11975	11833	11722
E-Mini S&P 500	1264	1246	1233	1216	1202
Gold	1710	1689	1675	1654	1639
Crude	99.91	98.89	98.23	97.20	96.53
Natural Gas	3.30	3.27	3.24	3.21	3.19
EUR/USD	1.3429	1.3307	1.3234	1.3113	1.3040
USD/JPY	78.25	78.08	77.84	77.66	77.41
US Dollar Index	81.00	80.62	79.98	79.60	78.96

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