Financial Breakfast: Morning News Summary for April 19, 2012

Benzinga's Top News

• Spain and France Meet the Highest Targets in Respective Debt Auction; Hearing Chatter of a French Sovereign Downgrade
• Bank of America BAC Reports Q1 EPS $0.03 May Not Compare vs $0.12 Est; Revenues $22.28B vs $22.51B Est
• Morgan Stanley MS Reports Q1 EPS $0.71 Excluding DVA vs $0.45 Est; Revenues $8.9B Excluding DVA vs $7.33B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade up about 23 points.
• U.S. Dollar trades about 0.08% higher.

Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.7%, Germany's DAX gained 0.54% and France's CAC 40 advanced 0.58% on the session.
• Asian stocks ended the session mixed. China's Shanghai fell 0.09%, Japan's Nikkei 225 slid 0.82%, and Hong Kong's Hang Seng gained 1.03%.
• Spain and France Meet the Highest Targets in Respective Debt Auction; Hearing Chatter of a French Sovereign Downgrade

Upgrades/Downgrades

• Wunderlich Securities Upgrades F5 Networks FFIV from Hold to Buy, Raises PT from $120 to $145
• The Benchmark Company Upgrades eBay EBAY from Hold to Buy, Raises PT from $37 to $45

• Sterne Agee Downgrades Chesapeake Energy CHK from Buy to Neutral, Removes PT of $35

On the Economic Calendar

• 08:30 a.m. ET - Continuing Jobless Claims
• 08:30 - Initial Jobless Claims
• 10:00 - Philadelphia Fed Manufacturing Index
• 10:00 - CB Leading Index (MoM)
• 10:00 - Existing Home Sales
• 10:30 - Natural Gas Storage

Earnings

• Bank of America BAC Reports Q1 EPS $0.03 May Not Compare vs $0.12 Est; Revenues $22.28B vs $22.51B Est
• Morgan Stanley MS Reports Q1 EPS $0.71 Excluding DVA vs $0.45 Est; Revenues $8.9B Excluding DVA vs $7.33B Est
• Southwest Airlines LUV Reports Q1 EPS $-0.02 vs $-0.05 Est; Revenues $4B vs $4.01B Est
• Philip Morris PM Reports Q1 EPS $1.25 vs $1.19 Est; Revenues $7.4B vs $7.27B Est
• DuPont DD Reports Q1 EPS $1.61 vs $1.55 Est; Revenues $11.26B vs $11.24B Est

Corporate News

• Human Genome Sciences HGSI Announces Rejects Offer from GlaxoSmithKline GSK; HGS Board of Directors Authorizes Exploration of Strategic Alternatives
• CVR Energy CVI Enters Into Transaction Agreement With Carl Icahn; Permit Icahn To Complete Tender Offer For $30/Share Plus "Contingent Cash Payment"
• Gilead GILD Announces Early Sustained Virologic Response Rates for GS-7977

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.09%
• Energy futures are trading lower, with crude oil posting early losses of about 0.01%
• Natural Gas futures are trading 0.21% lower and copper is trading lower by about 0.34%

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	1389	1384	1380	1375	1372
Gold	1662	1652	1645	1635	1628
Crude	105.91	104.56	103.60	102.25	101.29
Natural Gas	2.00	1.97	1.95	1.93	1.91
EUR/USD	1.3183	1.3152	1.3105	1.3073	1.3026
US Dollar Index	80.17	79.93	79.78	79.53	79.38

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