The Market In 5 Minutes: Brazil, Doha, And Earnings Season

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 minutes@benzinga.com.

Macro Focus

Parliament in Brazil has voted to start impeachment proceedings against President Dilma Rousseff over charges of manipulating government accounts. The "yes" camp won the required two-thirds majority in the vote in the lower house in Brasilia. The motion will now go to the upper house, the Senate, which is expected to suspend Rousseff next month while it carries out a formal trial.

Crude oil initially plunged lower by more than 6 percent after Sunday's gathering of OPEC and non-OPEC members failed to reach an agreement on oil exports. OPEC and several non-OPEC members met in Doha, Qatar to discuss a freeze in output levels to help boost crude prices. However, the meeting may have been doomed before it even started as Saudi Arabia maintained a position it will only agree to a freeze in output levels if Iran does the same.

BZ News Desk Focus

It's earnings season, folks! With the financials just finishing up, look out for reports this week on the technology side of things. Wall Street analysts are looking for earnings growth from both Intel INTC and Microsoft MSFT. Also on the docket: Alphabet, General Motors, Johnson & Johnson, McDonald's,, Starbucks, Verizon, Caterpillar, Coca-Cola, General Electric, Netflix and Yahoo, just to name a few.

Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Sell-Side Themes

A slew of analysts weighed in on the oil market following the Doha meeting. Stay tuned to Benzinga and Benzinga Pro for more updates on this throughout the day.

The collapse of the $160 billion merger between Pfizer PFE and Allergan AGN added to the burgeoning total value of deals abandoned in 2016. Goldman Sachs reinitiated coverage of both the stocks in separate reports.

Sell-Side's Most Noteworthy Calls

BHP Billiton BHP was raised to Buy at Bank of America.

Disney (DIS) received a Buy upgrade and price target raise to $121 by Pivotal Research.

Citi C was cut to Market Perform at Keefe Bruyette and Woods.

Union Pacific UNP was downgraded from Buy to Neutral at UBS.

Skyworks SWKS was initiated at Market Perform with a $78 target at Cowen.

Deal Talk

Medivation MDVN is being eyed as an acquisition target by more than one potential buyer. According to UK-based The Times, AstraZeneca AZN has been exploring an acquisition of Medivation for the past six months. The publication added that while AstraZeneca hasn't made an official bid, management is "looking very closely.

Autohome ATHM received a non-binding proposal from its CEO and Director, James Zhi Qin, Boyu Capital Advisory Co Ltd, Hillhouse TBC Holdings L.P. and Sequoia China Investment Management. The proposal envisaged a cash offer of $31.50 a share and took the company private.

Amazon AMZN is introducing new options to subscribe to its Prime membership service on a monthly basis, a change that could make the company's video service a tougher competitor to Netflix NFLX. The company notified visitors to its website that it now offers two new Prime price plans, the first of which costs customers $8.99 a month to stream movies and television shows from a new video-only version of its Prime service. A second new plan, priced at $10.99 a month, will provide access to the full benefits of the Prime service, including video streaming, free two-day shipping on Amazon orders, music streaming and other services.

In The News

The United States will respond strongly in the case of a further North Korean nuclear test, said U.S. Deputy Secretary of State Antony Blinken, days after the North's failure to launch what the United States believes was an intermediate-range ballistic missile.

Nearly 600 migrants were rescued and brought to Italy between Sunday and Monday, the International Organization for Migration said, in a further sign that the Italian migration route is surging after a lull this winter.

Does America want any of these people as president? Both parties’ presidential front-runners are growing increasingly unpopular, a new Wall Street Journal/NBC News poll finds, with Hillary Clinton showing an especially steep decline over the past month.

"It is a very dangerous time" for media websites. The trouble, the publishers say in this New York Times report, is twofold. The web advertising business became more treacherous and website traffic plateaued at many large sites, in some cases falling — a new and troubling experience after a decade of exuberant growth.

Blogosphere

How do you create your own ETF fund and sell the ETF? Can the underlying asset diverge from the fund itself? One Redditor wants to know, "I dont know why but the liquidity in ETFs scares me and I think that somehow the underlying could diverge from the fund."

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