Financial Breakfast: Morning News Summary for December 20, 2011

• 500% - The amount the stock market grew between 1982 and 1993 in terms of capitalization.

Benzinga's Top News

• General Mills GIS reports Q2 EPS $0.76 vs $0.79 Est; Revenues $4.62B vs $4.60B Est
• ImmunoGen IMGN Announces Antibody-Drug Conjugate Collaboration With Lilly LLY
• Salix SLXP and Progenics PGNX Announce Positive Highly Statistically Significant Results of Oral Methylnaltrexone for Phase 3 Trial in Chronic.

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 70 points.
• U.S. Dollar trades about 0.37% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain's FTSE 100 lost 0.25%, Germany's DAX added 0.8% and France's CAC 40 gained 0.9% on the session.
• Asian stocks ended the session mixed as well. China's Shanghai lost 0.12%, Japan's Nikkei 225 added 0.49% and Hong Kong's Hang Seng Index gained 0.06%.

Upgrades/Downgrades

• Oppenheimer upgrades F5 Networks FFIV to Outperform
• Jefferies upgrades OGE OGE Energy to Buy

• Piper Jaffray resumes coverage on AT&T T, Downgrades to Neutral
• Bank of America has downgraded ManpowerGroup MAN to Neutral

On the Economic Calendar

• Housing Starts and Building Permits are set to report at 8:30 a.m. ET

Earnings

• General Mills GIS reports Q2 EPS $0.76 vs $0.79 Est; Revenues $4.62B vs $4.60B Est
• Navistar International NAV reports Q4 EPS $3.37 vs $3.08 Est; Revenues $4.32B vs $4.45B Est

Corporate News

• ImmunoGen IMGN Announces Antibody-Drug Conjugate Collaboration With Lilly LLY
• Salix SLXP and Progenics PGNX Announce Positive Highly Statistically Significant Results of Oral Methylnaltrexone for Phase 3 Trial in Chronic.

Commodities

• Precious metals are trading higher, with gold posting gains of about 0.58%
• Energy futures are trading higher, with crude oil posting gains of about 1%
• Natural Gas futures are higher by about 0.45% and copper is trading higher by about 0.57%

Benzinga's Morning Radar

Technical Levels for Futures and Forex

Name	Resistance-2	Resistance-1	Mid Pivot	Support-1	Support-2
E-Mini Dow	11935	11818	11739	11622	11543
E-Mini S&P 500	1228	1213	1204	1189	1180
Gold	1621	1608	1598	1586	1576
Crude	95.74	94.97	93.88	93.13	92.02
Natural Gas	3.17	3.14	3.09	3.07	3.02
EUR/USD	1.3070	1.3030	1.3009	1.2976	1.2954
USD/JPY	78.19	78.11	77.97	77.89	77.75
US Dollar Index	81.14	81.03	80.85	80.74	80.57

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