The Market In 5 Minutes: Tuesday, March 8, 2016

Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by clicking here or emailing minutes@benzinga.com.

Macro Focus

S&P 500 futures flirt with 2,000 for the first time since early 2016.

Chinese exports experience third worst drop on record, down 25.4 percent year-over-year. Expectations were -14.5 percent decline.

Thursday's ECB meeting is almost here. Credit Suisse says the market is already pricing in interest rate cuts.

Over 300,000 troops conduct war games in Korean peninsula as North Korea threatens war.

NFIB Small Business Optimism Index indicates pessimism. Latest index at 92.9 vs. 94.0 expectations.

It's primary day for four states. Hawaii, Idaho, Michigan and Mississippi. Trump (384) leads Cruz (300) in delegates, while Clinton (1,130) leads Sanders (499).

BZ Desk Focus

Sunedison SUNE stock spikes after Vivint Solar VSLR terminates merger agreement with company. TerraForm Power TERP and SolarCity SCTY investors both respond positively.

Axiom's Gordon Johnson tells Benzinga market reaction in Sunedison specifically is wrong, says he "firmly disagrees" on stock spike.

Fitbit FIT stock spikes after market rumors of Nike NKE buyout interest.

Miners sell off after Vale VALE and Fortescue Metals (FSUMF) partnership, Bonanza Creek BCEI downgrade at Credit Suisse.

JetBlue JBLU sells off after RASM disclosure; company says it's facing troubles in Latin America but does not mention Zika specifically.

Performance Sports Group PSG down 60 plus percent after significant guidance cut. Firm cut full year EPS outlook to 12-14 cents from 66-69 cents.

Urban Outfitters URBN up after earnings beat and several analyst reiterations.

U.S. placing trade restrictions on ZTE; JPMorgan analyst sees this as negative for Qualcomm QCOM and Cisco CSCO.

Valeant VRX sets earnings release date of March 15. Mizuho says it expects Valeant to lower full year revenue guidance to $11.7 billion.

Snapchat expects sales to grow 6X or 7X from last year.

Sell-Side Themes

Boston Beer SAM facing bearishness from Citi [Sell] and CLSA [Underperform] amid increasing competition.

Both Citi and Axiom's Gordon Johnson say the iron ore price surge is unsustainable.

Brean [Buy], UBS [Neutral], FBR [Market Perform], Cowen [Market Perform], Macquarie [Neutral], Credit Suisse [Neutral] and Stifel [Buy] back Urban Outfitters. Most raise price targets.

Sell-Side's Most Noteworthy Calls

Online travel stocks Priceline PCLN and Expedia EXPE rated new Buys at MoffettNathanson; firm starts Tripadvisor TRIP at Neutral.

Markets are at "major" inflection point, MND's Tim Anderson says.

Stifel has "many questions" at American Express AXP ahead of investor day; maintains Hold.

Prestige Brands PBH new Overweight at Keybanc.

Comscore SCOR downgraded at Macquarie on accounting concerns.

Pandora P stock less attractive, says Detwiler Fenton.

Deutsche Bank buying Exelon EXC after Pepco POM merger update.

JPMorgan cuts Shake Shack SHAK outlook, sees 15 percent downside.

Piper Jaffray still Overweight Wayfair W after new proprietary survey results.

Nomura now more positive on Dow Chemical DOW-DuPont DD synergies after meeting with management.

Leerink raises Gilead GILD outlook after new HIV outlook.

UBS still buying blue chip railroads Kansas City Southern KSU, Union Pacific UNP, Canadian Pacific CP.

Deal Talk

HBO and CNN are concerned about the pending Time Warner Cable TWC and Charter CHTR merger.

Burberry takeover chatter circulates British exchange.

Fitbit-Nike chatter circulating (see above).

United Natural Foods UNFI to acquire certain assets of Global Organic.

NuVasive NUVA buys Mega Surgical.

Johnson & Johnson JNJ subsidiary Ethicon to buy NeuWave Medical.

Polaris PII to buy Taylor-Dunn.

Outlets reporting HSBC Brazilian unit sale expected to receive ruling from Brazil's CADE regulatory body next month.

Nippon Telegraph NTT reportedly in talks to buy Dell's Perot Systems.

Notable Media Stories

Costco COST's wage changes might be good sign for economy.

Banning some high-frequency trading helped the market grow.

China electric vehicles sales rose over 200 percent last year.

Bank of England governor says E.U. has helped U.K.

Here's why the poor pay more for everyday items than rich people.

Business Insider calls gender pay gap "overblown."

Academia

New study says oil refiners and gasoline consumers did not benefit from ethanol tax credit.

Statisticians say we should stop misusing P-values.

Blogosphere

Jae Jun on why most investors fail in the stock market.

Check out the "folk theory" of economic cycles.

Berkshire BRK seen as better bet than...small-cap stocks as a whole.

Josh Brown says "Money Monster" premise is "absurd."

ValueWalk discusses Morgan Stanley's "when you think of something do the opposite" investment advice.

Bruni bullish on lumber's technicals, and talks oil's "epic" failed breakdown.

Paul Ryan is helping spread "the most horrendous lie on Wall Street."

Buy-Side

Altimeter Capital and Par Capital send letter to United Airlines UAL discussing board candidates; United says it's "deeply disappointed" by move.

Perry Capital warns of 2008-style credit crisis coming.

Trending On Social

SHAK, URBN, NKE, JDST, OKS, OMER, VZ, CMI, GOOG, AMZN [StockTwits].