Financial Breakfast: Morning News Summary for May 8, 2012

Benzinga's Top News

• OfficeMax OMX Reports Q1 EPS $0.23 vs $0.16 Est; Revenues $1.87B vs $1.87B Est
• Wendys/Arbys Group WEN Reports Q1 EPS $0.01 vs $0.03 Est; Revenues $593.2M vs $608.42M Est
• FactSet Research Systems FDS Raises Dividend by 15% to $0.31

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 69 points.
• U.S. Dollar trades about 0.15% higher.
To see more pre-market news, click here.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 slid 0.31%, Germany's DAX fell 0.95% and France's CAC 40 dropped 1.8% on the session.
• Asian stocks ended the session mixed. China's Shanghai slid 0.13%, Japan's Nikkei 225 added 0.69%, and Hong Kong's Hang Seng dropped 0.25%.
To see more overseas news, click here.

Upgrades/Downgrades

• Deutsche Bank Upgrades Louisiana-Pacific LPX from Hold to Buy, Raises PT from $10 to $12
• Morgan Stanley Upgrades Vertex Pharmaceuticals VRTX from Underweight to Equal-weight, Raises PT from $28 to $51
To see more of today's upgrades, click here.
• Bank of America Downgrades FX Alliance FX from Neutral to Underperform, Maintains PO at $17
• Bank of America Downgrades Aecom Technology ACM from Buy to Underperform, Lowers PO from $35 to $20
To see more of today's downgrades, click here.

On the Economic Calendar

• 07:30 a.m. ET - NFIB Small Business Optimism
• 08:55 - Redbook (MoM)
• 10:00 - IBD/TIPP Economic Optimism
• 11:30 - 4-Week Bill Auction
• 11:45 - FOMC Member Fisher Speaks
• 13:00 - 3-Year Note Auction
To see more economic news, click here

Earnings

• OfficeMax OMX Reports Q1 EPS $0.23 vs $0.16 Est; Revenues $1.87B vs $1.87B Est
• Wendys/Arbys Group WEN Reports Q1 EPS $0.01 vs $0.03 Est; Revenues $593.2M vs $608.42M Est
• Henry Schein HSIC Reports Q1 EPS $0.98 vs $0.91 Est; Revenues $2.1B vs $2.03B Est
• Fossil FOSL Reports Q1 EPS $0.93 vs $0.92 Est; Revenues $589.5M vs $617.64M EstEst
To see more earnings announcements, click here.

Corporate News

• FactSet Research Systems FDS Raises Dividend by 15% to $0.31
To see more corporate news, click here.

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.60%
• Energy futures are trading lower, with crude oil posting early losses of about 0.84%
• Natural Gas futures are trading 0.47% lower and copper is trading lower by about 1.82%
To see more commodities news, click here.




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	1384	1375	1361	1351	1337
Gold	1648	1643	1637	1632	1627
Crude	99.31	98.64	97.53	96.86	95.75
Natural Gas	2.38	2.34	2.32	2.28	2.25
EUR/USD	1.3117	1.3083	1.3030	1.2995	1.2942
US Dollar Index	80.20	79.94	79.79	79.52	79.36



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