This is your Benzinga news summary and traders' outlook for Thursday, July 28, 2011, covering headlines from overnight and Thursday's pre-market session.
Today in domestic pre-market trading, U.S. equity futures are trading flat as traders wait for the decision on the debt ceiling and the weekly job data. The U.S. dollar is trading slightly higher as the Euro trades lower.
Earlier this morning, Goldman Sachs upgraded Cisco Systems (NASDAQ:
CSCO) to Buy and Morgan Stanley upgraded Citrix Systems (NASDAQ:
CTXS) to Overweight. View all of
today's upgrades here.
Piper Jaffray downgraded Akamai Tech (NASDAQ:
AKAM) to Neutral and Deutsche Bank downgraded Hess (NYSE:
HES) to Hold. View all of
today's downgrades here.
JP Morgan raised Lithia Motors' (NYSE:
LAD) price target to $23 from $17.50 and lowered PF Chang's (NASDAQ:
PFCB) price target to $42 from $45. View all other
analyst ratings heregold and
silver futures are flat in pre-market trading, with gold near the$1618 per ounce level. Energy futures are mixed with
crude oil down flat and
gasoline trading over 0.5% higher.
Natural gas futures are flat this morning and finally,
copper futures are trading slightly lower.
On the earnings front, DuPont (NYSE:
DD) reported Q2 EPS of $1.37 on revenues of $10.3 billion; The Street was looking for $1.34 per share on revenues of $9.86 billion.
Colgate-Palmolive (NYSE:
CL) reported Q2 EPS of $1.26 on revenues of $4.19 billion; The Street was looking for $1.26 per share on revenues of $4.17 billion.
Barrick Gold (NYSE:
ABX) reported Q2 EPS of $1.12 on revenues of $3.43 billion; The Street was looking for $1.11 per share on revenues of $3.32 billion.
In corporate news, L-3 Communications Holdings, Inc. (NYSE:
LLL) today
announced that it plans to spin off to L-3 shareholders 100% of a new, independent, publicly traded government services company.
Also, Boston Scientific Corporation's (NYSE:
BSX) Board of Directors has approved a new program
authorizing the repurchase of up to $1.0 billion of its common stock.
This concludes your news summary for July 28, 2011.
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