Benzinga’s Top News

• Sony (NYSE: SNE) To Cut 10,000 Jobs This Year in Part of Company Restructuring
• Rite Aid (NYSE: RAD) Reports Q4 EPS $-0.18 May Not Compare vs $-0.14 Est; Revenues $7.15B vs $7.03B Est

Domestic Pre-Market Trading

• U.S. Equity Markets trade higher as Dow futures trade up about 45 points.
• U.S. Dollar trades about 0.31% lower.

Overseas Trading

• European markets are mixed in afternoon trading. Britain’s FTSE 100 slid 0.08%, Germany’s DAX added 0.55% and France’s CAC 40 dropped 0.21% on the session.
• Asian stocks ended the session higher. China’s Shanghai added 1.78%, Japan’s Nikkei 225 gained 0.70%, and Hong Kong’s Hang Seng advanced 0.93%.

Upgrades/Downgrades

• JP Morgan Upgrades AT&T (NYSE: T) from Neutral to Overweight, Raises PT from $31 to $33
• Bank of America Upgrades Canadian Pacific Railway (NYSE: CP) from Neutral to Buy, Raises PO from $83 to $85

• Citigroup Maintains Dendreon (NASDAQ: DNDN) at Neutral, Lowers PT from $14 to $10
• Citigroup Downgrades Enduro Royalty Trust (NASDAQ: NDRO) from Buy to Neutral, Maintains $21 PT

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On the Economic Calendar

• 08:30 a.m. ET – Initial Jobless Claims
• 08:30 – Continuing Jobless Claims
• 08:30 – Trade Balance
• 08:30 – PPI (MoM)
• 10:30 – Natural Gas Storage
• 13:00 – 30-Year Bond Auction

Earnings

• Rite Aid (NYSE: RAD) Reports Q4 EPS $-0.18 May Not Compare vs $-0.14 Est; Revenues $7.15B vs $7.03B Est
• Fastenal (NASDAQ: FAST) Reports Q1 EPS $0.34 vs $0.35 Est; Revenues $768.9M vs $767.55M Est

Corporate News

• Sony (NYSE: SNE) To Cut 10,000 Jobs This Year in Part of Company Restructuring
• Raptor Pharmaceutical (NASDAQ: RPTP) Receives Notices of Allowance for Key European Patent Applications Protecting Its Cysteamine Portfolio

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.28%
• Energy futures are trading higher, with crude oil posting early gains of about 0.29%
• Natural Gas futures are higher by about 0.35% and copper is trading higher by about 1.06%

Benzinga’s Morning Radar

Technical Levels for Futures and Forex 

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