Benzinga’s Top News

• China’s Official PMI Data 50.4 in May vs 52.2 Est and 53.3 in April
• Euro-Zone Manufacturing PMI declined to 45.1 in May, versus 45.9 in April.
• Yesterday, Sara Lee (NYSE: SLE) Approves Special $3 Dividend, Reverse 1-for-5 Stock Split
• Yesterday, Omnivision Technologies (NASDAQ: OVTI) Reports Q4 EPS $0.20 vs $0.22 Est; Revenues $218.5M vs $205.39M Est; Guides Lower

Domestic Pre-Market Trading

• U.S. Equity Markets trade lower as Dow futures trade lower about 100 points.
• U.S. Dollar trades about 0.30% higher.

Overseas Trading

• European markets are lower in afternoon trading. Britain’s FTSE 100 fell 0.73%, Germany’s DAX declined 2.41% and France’s CAC 40 slid 1.4% on the session.
• Asian stocks ended the session mixed. China’s Shanghai added 0.09%, Japan’s Nikkei 225 declined 1.2%, and Hong Kong’s Hang Seng fell 0.38%.
• China’s Official PMI Data 50.4 in May vs 52.2 Est and 53.3 in April
• Euro-Zone Manufacturing PMI declined to 45.1 in May, versus 45.9 in April.

Upgrades/Downgrades

• Goldman Sachs Upgrades Blackstone Group (NYSE: BX) from Buy to CL-Buy, Announces PT of $16
• Citigroup Upgrades Clorox (NYSE: CLX) from Neutral to Buy, Raises PT from $72 to $78

• Goldman Sachs Downgrades Apollo Global Management (NYSE: APO) from Buy to Neutral, Announces PT of $14
• BMO Capital Markets Downgrades Leap Wireless (NASDAQ: LEAP) from Market Perform to Underperform, Lowers PT from $7 to $5

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On the Economic Calendar

• 08:30 a.m. ET – Personal Income (MoM)
• 08:30 – Personal Spending (MoM)
• 08:30 – Unemployment Rate
• 08:30 – Nonfarm Payrolls
• 08:30 – Core PCE Price Index (MoM)
• 10:00 – Construction Spending (MoM)
• 10:00 – ISM Manufacturing Index
• 16:00 – Total Vehicle Sales

Earnings

• Yesterday, Omnivision Technologies (NASDAQ: OVTI) Reports Q4 EPS $0.2 vs $0.22 Est; Revenues $218.5M vs $205.39M Est; Guides Lower
• Yesterday, Vera Bradley (NYSE: VRA) Reports Q1 EPS $0.31 vs $0.29 Est; Revenues $117.2M vs $116.83M Est

Corporate News

• Yesterday, Sara Lee (NYSE: SLE) Approves Special $3 Dividend, Reverse 1-for-5 Stock Split
• GameStop (NYSE: GME) and Sony (NYSE: SNE) Computer Entertainment EuropeAnnounce Downloadable Content Initiative

Commodities

• Precious metals are trading lower, with gold posting early losses of about 0.59%
• Energy futures are trading lower, with crude oil posting early losses of about 2.17%
• Natural Gas futures are trading 2.68% lower and copper is trading lower by about 1.08%

Benzinga’s Morning Radar

Technical Levels for Futures and Forex 

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