Financial Breakfast: Morning News Summary for June 13, 2012

Benzinga's Top News

• Philip Morris PM Announces New Three-Year Share Repurchase Program of $18 Billion
• Yesterday, ScottsMiracle-Gro SMG Cuts 2012 EPS Guidance

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 21 points.
• U.S. Dollar trades about 0.12% lower.

Overseas Trading

• European markets are lower in afternoon trading. Britain's FTSE 100 declined 0.05%, Germany's DAX slid 0.46% and France's CAC 40 fell 0.29% on the session.
• Asian stocks ended the session higher. China's Shanghai added 1.30%, Japan's Nikkei 225 advanced 0.60%, and Hong Kong's Hang Seng gained 0.82%.

Upgrades/Downgrades

• Jefferies & Company Upgrades Johnson & Johnson JNJ from Hold to Buy, Raises PT from $68 to $72

• Goldman Sachs Downgrades McDonald's MCD from Buy to Neutral, Lowers PT from $100 to $92

On the Economic Calendar

• 08:30 a.m. ET - Retail Sales
• 08:30 - PPI
• 10:00 - Business Inventories
• 10:30 - Crude Oil Inventories
• 13:00 - 10-Year Note Auction

Earnings

• Yesterday, Casey's General CASY Reports Q4 EPS $0.60 vs $0.67 Est; Revs $1.75B vs $1.74B Est

Corporate News

• Philip Morris PM Announces New Three-Year Share Repurchase Program of $18 Billion
• NetSpend Holdings NTSP Announces $75M Share Repurchase Program
• Yesterday, ScottsMiracle-Gro SMG Cuts 2012 EPS Guidance

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.20%
• Energy futures are trading lower, with crude oil posting early losses of about 0.31%
• Natural Gas futures are trading 1.52% lower and copper is trading higher by about 0.43%

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	1334	1327	1313	1306	1291
Gold	1637	1624	1605	1591	1572
Crude	85.20	84.33	82.01	81.97	80.48
Natural Gas	2.32	2.26	2.22	2.17	2.12
EUR/USD	1.2577	1.2539	1.2490	1.2453	1.2404
US Dollar Index	83.35	83.10	82.94	82.69	82.54

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