Thursday, April 12, 2012
This is your Benzinga news summary and trader’s outlook covering headlines from overnight and today’s pre-market session.
Legal tender refers to how currency can be used to satisfy “debts, public charges, taxes, and dues” but no one is required by law to accept it.
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.
To see more pre-market news, click here.
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%.
To see more overseas news, click here.
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
To see more of today’s upgrades, click here.
- 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
To see more of today’s downgrades, click here.
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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
To see more economic news, click here
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
To see more earnings announcements, click here.
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
To see more corporate news, click here.
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%
To see more commodities news, click here.
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 | 1375 | 1370 | 1364 | 1358 | 1353 |
| Gold | 1669 | 1665 | 1659 | 1654 | 1648 |
| Crude | 104.37 | 103.46 | 102.22 | 101.31 | 100.07 |
| Natural Gas | 2.07 | 2.02 | 1.99 | 1.94 | 1.92 |
| EUR/USD | 1.3185 | 1.3146 | 1.3117 | 1.3078 | 1.3048 |
| US Dollar Index | 80.22 | 80.08 | 79.89 | 79.76 | 79.56 |
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