Financial Breakfast: Morning News Summary for June 8, 2012

Benzinga's Top News

• Molina Healthcare MOH Rises 29% Pre-Market on Thursday's Announcement it Would Continue as Medicaid Managed Care Provider in Ohio

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade lower about 61 points.
• U.S. Dollar trades about 0.87% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 declined 0.95%, Germany's DAX fell 0.83 % and France's CAC 40 slid 1.04% on the session.
• Asian stocks ended the session lower as well. China's Shanghai slid 0.51%, Japan's Nikkei 225 fell 2.09%, and Hong Kong's Hang Seng declined 0.94%.

Upgrades/Downgrades

• Morgan Stanley Upgrades Kinder Morgan KMI from Equal-weight to Overweight, Maintains $42 PT
• Bank of America Upgrades Onyx Pharmaceuticals ONXX from Neutral to Buy, Raises PO from $47 to $57

• Deutsche Bank Downgrades Navistar NAV from Buy to Hold, Lowers PT from $50 to $35
• Jefferies & Company Downgrades Red Robin Gourmet Burgers RRGB from Buy to Hold, Raises PT from $26 to $32

On the Economic Calendar

• 08:30 a.m. ET - Trade Balance

Earnings

No Major Earnings this Morning

Corporate News

• Coronado Biosciences CNDO Receives Notice of Allowance for First U.S. Patent Covering CNDO-109

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.56%
• Energy futures are trading lower, with crude oil posting early losses of about 3.14%
• Natural Gas futures are trading 1.54% lower and copper is trading lower by about 2.77%

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	1336	1326	1319	1309	1300
Gold	1651	1620	1600	1569	1548
Crude	88.29	85.95	84.69	82.25	81.09
Natural Gas	2.49	2.38	2.32	2.21	2.15
EUR/USD	1.2659	1.2608	1.2574	1.2523	1.2489
US Dollar Index	82.74	82.53	82.24	82.03	81.75

Subscribe Click here to subscribe to this newsletter. Receive it daily to your inbox!