Monday, May 7, 2012
This is your Benzinga news summary and trader’s outlook covering headlines from overnight and today’s pre-market session.
Queen Isabella of Spain was the first woman to appear on a US commemorative coin in 1893.
Benzinga’s Top News
- DISH Network (NASDAQ: DISH) Reports Q1 EPS $0.80 May Not Compare vs $0.70 Est; Revenues $3.58B vs $3.62B Est
- Frontier Communications (NYSE: FTR) Reports Q1 EPS $0.05 vs $0.06 Est; Revenues $1.27B vs $1.26B Est
- Avis Budget Group (NYSE: CAR) Reports Q1 EPS $0.12 vs $-0.06 Est; Revenues $1.62B vs $1.59B Est
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 66 points.
- U.S. Dollar trades about 0.32% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are lower in afternoon trading. Britain’s FTSE 100 slid 1.93%, Germany’s DAX fell 0.81% and France’s CAC 40 dropped 0.25% on the session.
- Asian stocks ended the session lower as well. China’s Shanghai slid 0.04%, Japan’s Nikkei 225 fell 2.78%, and Hong Kong’s Hang Seng dropped 2.61%.
To see more overseas news, click here.
Upgrades/Downgrades
- Morgan Stanley Upgrades Lear (NYSE: LEA) from Underweight to Overweight, Raises PT from $50 to $55
- Dahlman Rose Upgrades Genesee & Wyoming (NYSE: GWR) from Hold to Buy, Announces PT of $67
To see more of today’s upgrades, click here.
- Wunderlich Securities Downgrades Alliant Energy (NYSE: LNT) from Buy to Hold, Lowers PT from $47 to $45
- Citigroup Downgrades Arcos Dorados Holdings (NASDAQ: ARCO) from Buy to Neutral, Lowers PT from $23 to $16
To see more of today’s downgrades, click here.
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On the Economic Calendar
- 11:30 a.m. ET – 6-Month Bill Auction
- 11:30 – 3-Month Bill Auction
- 15:00 – Consumer Credit
To see more economic news, click here
Earnings
- DISH Network (NASDAQ: DISH) Reports Q1 EPS $0.80 May Not Compare vs $0.70 Est; Revenues $3.58B vs $3.62B Est
- Frontier Communications (NYSE: FTR) Reports Q1 EPS $0.05 vs $0.06 Est; Revenues $1.27B vs $1.26B Est
- Avis Budget Group (NYSE: CAR) Reports Q1 EPS $0.12 vs $-0.06 Est; Revenues $1.62B vs $1.59B Est
- Cognizant Technology Solutions (NASDAQ: CTSH) Reports Q1 EPS $0.86 vs $0.79 Est; Revenues $1.71B vs $1.71B Est
To see more earnings announcements, click here.
Corporate News
- New Vision Television Announces Agreement To Sell Broadcasting Group To LIN Media (NYSE: TVL) for $330.4M
- Allscripts (NASDAQ: MDRX) Adopts Stockholder Rights Plan
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting early losses of about 0.40%
- Energy futures are trading lower, with crude oil posting early losses of about 0.63%
- Natural Gas futures are trading 2.94% higher and copper is trading lower by about 0.16%
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 | 1398 | 1380 | 1371 | 1353 | 1343 |
| Gold | 1660 | 1651 | 1638 | 1630 | 1618 |
| Crude | 104.78 | 101.68 | 99.60 | 96.50 | 94.42 |
| Natural Gas | 2.41 | 2.35 | 2.30 | 2.23 | 2.19 |
| EUR/USD | 1.3211 | 1.3147 | 1.3113 | 1.3049 | 1.3015 |
| US Dollar Index | 79.91 | 79.75 | 79.44 | 79.28 | 78.97 |
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