Courtesy of Benzinga.
This is your Benzinga news summary and traders’ outlook for Tuesday, September 27, 2011, covering headlines from overnight and Tuesday’s pre-market session.
Today in domestic pre-market trading, U.S equity futures are trading higher. At last check, Dow futures are higher by about 150 points or 1.4% and the U.S. dollar trades lower near the $78.68 level.
Earlier this morning, Goldman Sachs added Sanderson Farms (NASDAQ: SAFM) to its CL-Buy list and JP Morgan upgraded Baxter (NYSE: BAX) to Overweight. View all of today’s upgrades here.
JP Morgan downgraded Abbott Labs (NYSE: ABT) to Neutral and Goldman Sachs removed Huntsman (NYSE: HUN) from its CL-Buy list. View all of today’s downgrades here.
Citigroup lowered AFLAC’s (NYSE: AFL) price target to $37 from $41 and raised Bunge Limited’s (NYSE: BG) price target to $88 from $80. View all other of today’s analyst ratings here.
Overseas, European markets are higher in afternoon trading. Britain’s FTSE 100 gained 2.5%, Germany’s DAX added 3.8% and France’s CAC 40 jumped 3.5% on the session. Asian stocks ended the session higher as well. China’s Shanghai Index gained 1%, Japan’s Nikkei 225 added 2.8%, and Hong Kong’s Hang Seng Index jumped 4.15%.
On the economic calendar, Case-Shiller Home Price Index is set to be reported at 9:00 a.m. The Consumer Confidence Index and the Richmond Fed Manufacturing Index is due at 10:00 a.m.
On the commodity front, gold and silver futures are higher in pre-market trading, with gold trading higher by about 4.5%. Energy futures are higher as well with crude oil up over 2.75% near the $82.50 level and gasoline futures are trading higher by about 2%. Natural Gas futures are higher by about 1.3% and copper futures are trading over 3% higher this morning.
On the earnings front, Walgreen (NYSE: WAG) reported Q4 EPS of $0.57 on revenues of $17.97 billion; The Street was looking for $0.55 per share on revenues of $17.88 billion.
American Greetings (NYSE: AM) reported Q1 EPS of $0.28 on revenues of $368.8 million; The Street was looking for $0.25 per share on revenues of $351.3 million.
In corporate news, Dish (NASDAQ: DISH) came in with the highest bid for online video service Hulu at $1.9 billion, beating out Amazon (NASDAQ: AMZN) and Yahoo (NASDAQ: YHOO), according to Business Insider.
The United States investigates Motorola Solutions (NYSE: MSI) for potential foreign corruption to win business in Europe.
Europe’s biggest defense contractor, BAE Systems (OTC: BAESY), announced its plan to cut nearly 3000 jobs in the United Kingdom as orders for fighter jets take a hit.
This concludes your news summary for September 27, 2011.
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