Financial Breakfast: Morning News Summary for February 23, 2012

Benzinga's Top News

• Kohls KSS Reports Q4 EPS $1.81 vs $1.80 Est; Revenues $6.00B vs $6.06B Est
• OfficeMax OMX Reports Q4 EPS $0.17 vs $0.14 Est; Revenues $1.84B vs $1.80B Est
• Mylan MYL Receives Tentative FDA Approval Through PEPFAR for Pediatric HIV/AIDS Therapy
• FDA Accepts Impax Pharmaceuticals IPXL NDA Filing for IPX066 for the Treatment of Idiopathic Parkinson's Disease

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 17 points.
• U.S. Dollar trades about 0.34% lower.

Overseas Trading

• European markets are lower in afternoon mixed. Britain's FTSE 100 added 0.21%, Germany's DAX slid 0.44% and France's CAC 40 fell 0.06% on the session.
• Asian stocks ended the session mixed as well. China's Shanghai added 0.28%, Japan's Nikkei 225 advanced 0.44%, and Hong Kong's Hang Seng slid 0.78%.

Upgrades/Downgrades

• Deutsche Bank Upgrades Kellogg K from Hold to Buy, Raises PT from $51 to $57
• Morgan Stanley Upgrades Level 3 Communications LVLT from Equal-weight to Overweight, Maintains PT at $31

• Credit Suisse Downgrades Canadian Imperial Bank CM from Outperform to Neutral, Maintains PT at $81
• Collins Stewart Downgrades Human Genome Sciences HGSI from Buy to Neutral, Lowers PT from $17 to $10

On the Economic Calendar

• Initial and Continuing Jobless Claims are set to report at 8:30 a.m. ET
• House Price Index is due at 10:00 a.m.

Earnings

• Kohls KSS Reports Q4 EPS $1.81 vs $1.80 Est; Revenues $6.00B vs $6.06B Est
• OfficeMax OMX Reports Q4 EPS $0.17 vs $0.14 Est; Revenues $1.84B vs $1.80B Est
• MetroPCS Communications PCS Reports Q4 EPS $0.25 vs $0.16 Est; Revenues $1.24B vs $1.24B Est
• Hormel Foods HRL Reports Q1 EPS $0.48 vs $0.48 Est; Revenues $2.04B vs $2.02B Est

Corporate News

• Darden Restaurants DRI Announces Projected Q3 EPS $1.23-1.25 vs $1.19 Est
• Mylan MYL Receives Tentative FDA Approval Through PEPFAR for Pediatric HIV/AIDS Therapy
• FDA Accepts Impax Pharmaceuticals IPXL NDA Filing for IPX066 for the Treatment of Idiopathic Parkinson's Disease

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.37%
• Energy futures are trading higher, with crude oil posting early gains of about 0.18%
• Natural Gas futures are higher by about 0.68% and copper is trading lower by about 0.33%

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	1368	1362	1357	1351	1346
Gold	1803	1790	1770	1757	1737
Crude	107.20	106.58	106.09	105.47	104.98
Natural Gas	2.75	2.70	2.61	2.56	2.48
EUR/USD	1.3300	1.3271	1.3241	1.3216	1.3186
US Dollar Index	79.65	79.46	79.27	79.07	78.88

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