Financial Breakfast: Morning News Summary for February 23, 2012

Thursday, February 23, 2012

This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.


Benzinga's Top News

  • Kohls KSS Reports Q4 EPS $1.81 vs $1.80 Est; Revenues $6.00B vs $6.06B Est
  • OfficeMax OMX Reports Q4 EPS $0.17 vs $0.14 Est; Revenues $1.84B vs $1.80B Est
  • Mylan MYL Receives Tentative FDA Approval Through PEPFAR for Pediatric HIV/AIDS Therapy
  • FDA Accepts Impax Pharmaceuticals IPXL NDA Filing for IPX066 for the Treatment of Idiopathic Parkinson's Disease

Domestic Pre-Market Trading

  • U.S. Equity Markets trade higher as Dow futures trade up about 17 points.
  • U.S. Dollar trades about 0.34% lower.
To see more pre-market news, click here.

Overseas Trading

  • European markets are lower in afternoon mixed. Britain's FTSE 100 added 0.21%, Germany's DAX slid 0.44% and France's CAC 40 fell 0.06% on the session.
  • Asian stocks ended the session mixed as well. China's Shanghai added 0.28%, Japan's Nikkei 225 advanced 0.44%, and Hong Kong's Hang Seng slid 0.78%.
To see more overseas news, click here.

Upgrades/Downgrades

  • Deutsche Bank Upgrades Kellogg K from Hold to Buy, Raises PT from $51 to $57
  • Morgan Stanley Upgrades Level 3 Communications LVLT from Equal-weight to Overweight, Maintains PT at $31
To see more of today's upgrades, click here.

  • Credit Suisse Downgrades Canadian Imperial Bank CM from Outperform to Neutral, Maintains PT at $81
  • Collins Stewart Downgrades Human Genome Sciences HGSI from Buy to Neutral, Lowers PT from $17 to $10
To see more of today's downgrades, click here.

On the Economic Calendar

  • Initial and Continuing Jobless Claims are set to report at 8:30 a.m. ET
  • House Price Index is due at 10:00 a.m.
To see more economic news, click here

Earnings

  • Kohls KSS Reports Q4 EPS $1.81 vs $1.80 Est; Revenues $6.00B vs $6.06B Est
  • OfficeMax OMX Reports Q4 EPS $0.17 vs $0.14 Est; Revenues $1.84B vs $1.80B Est
  • MetroPCS Communications PCS Reports Q4 EPS $0.25 vs $0.16 Est; Revenues $1.24B vs $1.24B Est
  • Hormel Foods HRL Reports Q1 EPS $0.48 vs $0.48 Est; Revenues $2.04B vs $2.02B Est
To see more earnings announcements, click here.

Corporate News

  • Darden Restaurants DRI Announces Projected Q3 EPS $1.23-1.25 vs $1.19 Est
  • Mylan MYL Receives Tentative FDA Approval Through PEPFAR for Pediatric HIV/AIDS Therapy
  • FDA Accepts Impax Pharmaceuticals IPXL NDA Filing for IPX066 for the Treatment of Idiopathic Parkinson's Disease
To see more corporate news, click here.

Commodities

  • Precious metals are trading higher, with gold posting early gains of about 0.37%
  • Energy futures are trading higher, with crude oil posting early gains of about 0.18%
  • Natural Gas futures are higher by about 0.68% and copper is trading lower by about 0.33%
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 1368 1362 1357 1351 1346
Gold 1803 1790 1770 1757 1737
Crude 107.20 106.58 106.09 105.47 104.98
Natural Gas 2.75 2.70 2.61 2.56 2.48
EUR/USD 1.3300 1.3271 1.3241 1.3216 1.3186
US Dollar Index 79.65 79.46 79.27 79.07 78.88


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