Financial Breakfast: Morning News Summary for February 09, 2012

As of February 11th 2010 The U.S. government's debt ceiling has been raised six times since the beginning of 2006.

Benzinga's Top News

• Pepsico PEP to Cut 8,700 Jobs; about 3% of Workforce
• Diamond Foods DMND to Restate 2010, 2011 Financial Statements, Appoints New CEO, CFO
• PepsiCo PEP Reports Q4 EPS $1.15 vs $1.13 Est; Revenues $20.20B vs $19.91B Est
• Sirius XM Radio SIRI Reports Q4 EPS $0.01 vs $0.01 Est; Revenues $783.70M vs $785.53M Est
• Lorillard LO Reports Q4 EPS $2.20 vs $1.95 Est; Revenues $1.62B vs $1.08B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade down about 19 points.
• U.S. Dollar trades about 0.02% lower.

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Overseas Trading

• European markets are higher in afternoon trading. Britain's FTSE 100 added 0.23%, Germany's DAX gained 0.53% and France's CAC 40 advanced 0.26% on the session.
• Asian stocks ended the session mixed. China's Shanghai added 0.1%, Japan's Nikkei 225 slid 0.15%, and Hong Kong's Hang Seng fell 0.04%.

Upgrades/Downgrades

• Jefferies Upgrades Celanese CE from Hold to Buy, Raises PT from $50 to $65
• Morgan Stanley Upgrades CIT Group CIT from Equal-weight to Overweight, Raises PT from $45 to $48

• Wunderlich Securities Downgrades A123 SYSTEMS AONE from Hold to Sell, Lowers PT from $3 to $0.5
• Jefferies Downgrades DuPont Fabros Technology DFT from Buy to Hold, Lowers PT from $27 to $24

On the Economic Calendar

• BOE Announces Interest Rates 0.50% vs 0.50% Est
• Initial and Continuing Jobless Claims are set to report at 8:30 a.m. ET
• Wholesale Inventories are due at 10:00 a.m.

Earnings

• PepsiCo PEP Reports Q4 EPS $1.15 vs $1.13 Est; Revenues $20.20B vs $19.91B Est
• Sirius XM Radio SIRI Reports Q4 EPS $0.01 vs $0.01 Est; Revenues $783.70M vs $785.53M Est
• Lorillard LO Reports Q4 EPS $2.20 vs $1.95 Est; Revenues $1.62B vs $1.08B Est
• Group 1 Automotive GPI Reports Q1 EPS $0.94 vs $0.87 Est; Revenues $1.63B vs $1.58B Est

Corporate News

• Diamond Foods DMND to Restate 2010, 2011 Financial Statements, Appoints New CEO, CFO
• Lorillard LO Increases Dividend by 19% to $1.55
• Pepsico PEP to Cut 8,700 Jobs; about 3% of Workforce

Commodities

• Precious metals are trading higher, with gold posting gains of about 0.19%
• Energy futures are trading higher, with crude oil posting gains of about 0.61%
• Natural Gas futures are higher by about 0.53% and copper is trading lower by about 0.55%

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	1354	1350	1344	1340	1334
Gold	1767	1750	1738	1722	1709
Crude	101.07	100.05	99.08	98.06	97.09
Natural Gas	2.56	2.50	2.44	2.38	2.32
EUR/USD	1.3322	1.3291	1.3255	1.3224	1.3188
US Dollar Index	79.02	78.85	78.68	78.51	78.33

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