Financial Breakfast: Morning News Summary for April 5, 2012

Benzinga's Top News

• Polycom PLCM Announces Preliminary Q1 EPS $0.21-0.23 vs $0.30 Est. Revs $364-$370M vs $400M Est
• Spectrum Pharmaceuticals SPPI Announces Results of Apaziquone Phase 3 Clinical Trials; Did Not Meet Primary Endpoint
• Bank Of England Leaves Rates Unchanged At 0.5%

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 45 points.
• U.S. Dollar trades about 0.31% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.43%, Germany's DAX fell 0.98% and France's CAC 40 dropped 0.55% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 1.76%, Japan's Nikkei 225 fell 0.53%, and Hong Kong's Hang Seng slid 0.95%.
• Bank Of England Leaves Rates Unchanged At 0.5%

Upgrades/Downgrades

• The Benchmark Company Upgrades Liquidity Services LQDT from Hold to Buy, Raises PT from $41 to $57
• Citigroup Upgrades KeyCorp KEY from Neutral to Buy, Raises PT from $8 to $10

• Citigroup Downgrades Comerica CMA from Neutral to Sell, Maintains PT at $29
• JP Morgan Downgrades MDC Holdings MDC from Neutral to Underweight, Lowers PT from $22 to $20

On the Economic Calendar

• 07:30 a.m. ET - Challenger Job Cuts (YoY)
• 08:30 - Initial Jobless Claims
• 08:30 - Continuing Jobless Claims
• 10:00 - CAD Ivey PMI
• 10:30 - Natural Gas Storage

Earnings

• Polycom PLCM Announces Preliminary Q1 EPS $0.21-0.23 vs $0.30 Est. Revs $364-$370M vs $400M Est
• PTC PMTC Provides Preliminary Q2 Revs $300M vs $314M Est; EPS $0.26-0.28 vs $0.34 Est
• Pier 1 Imports PIR Reports Q4 EPS $0.48 vs $0.48 Est; Revenues $476.8M vs $474.72M Est

Corporate News

• Spectrum Pharmaceuticals SPPI Announces Results of Apaziquone Phase 3 Clinical Trials; Did Not Meet Primary Endpoint
• Spectrum Pharmaceuticals SPPI to Acquire Allos Therapeutics ALTH for $1.82 per Share plus One Contingent Value Right

Commodities

• Precious metals are trading higher, with gold posting early gains of about 0.56%
• Energy futures are trading higher, with crude oil posting early gains of about 0.27%
• Natural Gas futures are higher by about 0.28% and copper is trading lower by about 0.28%

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	1411	1402	1395	1386	1379
Gold	1660	1641	1627	1607	1593
Crude	104.91	103.47	102.28	100.84	99.65
Natural Gas	2.22	2.18	2.15	2.11	2.08
EUR/USD	1.3257	1.3199	1.3153	1.3094	1.3048
US Dollar Index	80.35	80.14	79.88	79.67	79.40

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