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Bacon & Trades


Benzinga: Feed your mind. Bacon & Trades.

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

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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