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
The U.S. stock market began the holiday-shortened trading week on Tuesday with moderate gains. All three major averages finished the session in positive territory after climbing for most of the day after an early selloff. The gains were led by the energy and utilities sector, which added 1.22 percent and 1.24 percent, respectively.
Futures for the Dow Jones Industrial Average declined 11 points to 18,513.00, while the Standard & Poor’s 500 index futures fell 2.25 points to 2,182.50. Futures for the Nasdaq 100 index rose 3.50 points to 4,831.25.
Oil prices traded higher as Brent crude futures rose 1.14 percent to trade at $47.80 per barrel, while US WTI crude futures also rose 0.94 percent to trade at $45.25 a barrel.
BZ News Desk Focus
- Dave And Buster's PLAY Reports Q2 EPS $0.50 vs $0.44 Est, Sales $244.3M vs $243.14M Est
- SecureWorks SCWX Reports Q2 EPS $(0.07) vs. Est. $(0.08), Rev. $103.7M vs. Est. $101.2M
- Casey's General Stores CASY Reports Q1 EPS $1.70 vs $1.81 Est, Rev $1.97B vs $1.99B Est
- HD Supply Holdings HDS Q2 EPS $0.85 vs $0.88 est, Revenue $2.01B vs $2.03B est
- Valspar VAL Q3 EPS $1.57 vs $1.45 est, Revenue $1.14B vs $1.18B est
The September unveiling of the newest iPhone model has become an annual event for Apple AAPL shareholders. The iPhone unveilings have made an immediate positive impact on the stock’s price following four of the past five events. The lone exception was an 11.1 percent drop following the unveiling of the iPhone 5C and iPhone 5S back in 2013.
Sell-Side Themes
Spirit Realty SRC was upgraded to Overweight at Morgan Stanley, while Janney initiated coverage at Buy.
Sell-Side's Most Noteworthy Calls
- Stifel downgraded Intersil ISIL to Hold.
- Argus downgraded Royal Caribbean RCL to Hold.
- Deutsche Bank upgraded Ligand Pharmaceuticals LGND to Hold.
- Jefferies upgraded ConocoPhillips COP to Hold.
- Deutsche Bank started Deere DE at Hold.
- Berenberg started Goldcorp GG at Hold.
Deal Talk
According to Reuters, a Bayer BAYRY investor says the price of $135-$140 for Monsanto MON is less likely to get shareholder approval.
Federal-Mogul FDML and Icahn Enterprises IEP announced an agreement under which Icahn Enterprises will offer to purchase all of the outstanding shares of Federal-Mogul common stock not owned by Icahn Enterprises or its affiliates, for $9.25 per share in cash. Icahn Enterprises' original offer was $7.00 per share. The deal is structured as a tender offer followed by a merger.
In The News
Bill Ackman's Pershing Square disclosed a 9.9 percent stake in Chipotle CMG. In a filing, Pershing said it intended to engage in discussions with the fast-casual restaurant company's board and management, calling the stock is undervalued and attractive.
The Obama administration followed up a planeload of $400 million in cash it sent to Iran in January with two more shipments in the next 19 days, totaling another $1.3 billion.
Blogosphere
Ackman's eye might be bigger than his stomach.
Trending
AMZN CMG NAV MACK TWTR GDX SE EXEL FB APA JBLU MT WFM
All eyes are on the #AppleEvent, as the company is expected to announce the iPhone 7.
Guess This Chart
- Nearly 15 percent of revenue came from China in Q3 2016.
- This stock hit an all-time high of $64 in October 2015.
- Sympathy plays could include PepsiCo PEP, Yum Brands YUM and Tingyi (Cayman Islands) TCYMY.
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