Market Overview

The Market In 5 Minutes: Thursday, March 10, 2016

The Market In 5 Minutes: Thursday, March 10, 2016
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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 email

Macro Focus

ECB cuts rates to new low and expands asset-buying program.  

U.S. stocks like the news.  

ECB main interest rate now 0 percent vs 0.05 percent previously. Deposit rate cut to -0.4 percent.

Eurozone 2016 inflation forecast cut to 0.1 percent from 1 percent predicted in December 2015.

US initial jobless claims for March hit 259.0K below 275.0K consensus estimate.

China producer prices fall for 48th month, but consumer prices get unexpected bump; Shanghai comp index down 2%.

 North Korea fires missiles into sea.  

Iran says missile tests not violation of U.S. nuclear deal

BZ Desk Focus

Apple (NASDAQ: AAPL) iPhone estimates cut at Mizuho and CLSA.  

Vale (NYSE: VALE) downgraded at Stifel on iron ore worries.

Dollar General (NYSE: DG) up after earnings, Party City (NYSE: PRTY) up too .

Square (NYSE: SQ) and Box (NYSE: BOX) up, but selloff day following earnings.

SolarCity (NASDAQ: SCTY) volatile after Spain removes "sun tax."

Energy XXI (NASDAQ: EXXI) down 30 percent after Reuters bankruptcy report

Supernus Pharma (NASDAQ: SUPN) up day after positive court decision.

Social data shows Teva Pharmaceutical (NYSE: TEVA) most likely to benefit from Zika fears.

Sell-Side Themes

Analysts seem to unanimously agree that iron ore's run won't last.

Reactions to ECB decision vary. Mint Partners' Bill Blain says Draghi's gone "all-in." Bank of America says ECB QE means low yields for a "long time to come." Deutsche Bank criticizes the bank's lack of control over inflation.

Amazon (NASDAQ: AMZN) analysts like recent developments in air cargo and 'Style Code Live.' KeyBanc still Overweight, Bank Of America still at Buy.

Sell-Side's Most Noteworthy Calls

Chipotle (NYSE: CMG)'s headline risk is back, Maxim warns.  

RBC names Coca-Cola (NYSE: KO) its top mega-cap idea.  

Piper Jaffray upgrades Expedia (NASDAQ: EXPE) to Overweight.  

UBS slaps Sell on FactSet (NYSE: FDS), notes slowdown in customer growth rates.  

Stifel downgrades Vale (NYSE: VALE) amid "unsustainable" iron ore price surge.  

Bernstein warns of re-valuation at RBS (NYSE: RBS), downgrades to Market Perform.

 Bob Peck reiterates Buy on Facebook (NASDAQ: FB) on future pricing power.

SunEdison Semi (NASDAQ: SEMI) hit with downgrade at Macquarie to Neutral, at odds with Redstone analyst's bull call last week.  

Argus analyst says Transocean (NYSE: RIG) outlook still challenging, isn't buying yet.

Supernus expected to have more strength after new epilepsy drug patent decision, Northland says.

Morgan Stanley still sees 40 percent upside at Mobileye (NYSE: MBLY).

Deutsche Bank sees room to run at Sunrun (NASDAQ: RUN), sets $15 target.

Deal Talk

Alibaba (NYSE: BABA), China's CHPC and Ant Financial partner to offer smart energy services.

Alibaba secures $3B loan to finance more acquisitions and investments.  

Iron Mountain (NYSE: IRM) to sell Australian assets.  

Intel (NASDAQ: INTC) buys 3D replay firm.  

Norfolk Southern (NYSE: NSC) files preliminary proxy statement for Canadian Pacific (NYSE: CP) statement requiring both sides to engage in good faith discussions

Notable Media Stories

Twitter deletes tweets with oil data in them following American Petroleum Institute complaints.

 Air Force vet tried to join ISIS.  

Bridgewater hires ex-Apple CEO.

WSJ survey shows more economists think Fed will delay rate hike.  

The shale "reckoning" comes to Oklahoma.  

8 reasons the global economy is in crisis.  

Special Reuters report reveals lead dangers lurking in private wells


Kelly Blue Book study shows ride sharing doesn't pose threat to car buying


Josh Brown asks: When do you want your risk, now or later?  

John Mauldin says retirement is impossible with negative interest rates.

Why U.S. automakers are under-performing in 1 simple chart


Planet Fitness (NYSE: PLNT) CEO tells Benzinga company "strongly" disagrees with "misleading" statements by Spruce Point Capital, which disclosed a short position on Wednesday.

Pershing Square reports amended 9 percent stake in Valeant.

Jackson Square takes 10.03 passive stake in Verifone (NYSE: PAY).

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