The Market In 5 Minutes: Pfizer's Earnings, Gannett Drops Tronc Bid

Macro Focus

Futures for the Dow Jones Industrial Average climbed 26 points to 18,088.00, while the Standard & Poor’s 500 index futures gained 4.50 points to 2,124.25. Futures for the Nasdaq 100 index rose 8.75 points to 4,805.25.

Oil prices traded lower as US WTI crude futures fell 0.30 percent to trade at $46.72 a barrel.

Redbook Reports US Retail Sales During October Down 0.1% MoM, Up 0.6% YoY

Data on motor vehicle sales for October will be released today.
The Federal Open Market Committee will begin two-day policy meeting today.
The Markit manufacturing PMI for October will be released at 9:45 a.m. ET.
The ISM manufacturing index for October is schedule for release at 10:00 a.m. ET.
Data on construction spending for September will be released at 10:00 a.m. ET.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

BZ News Desk Focus

Pfizer PFE Q3 EPS $0.61 vs $0.62 Est., Revenue $13.05B vs $13.05B Est.
Royal Dutch Shell Q3 EPS $0.35 vs $0.44 Est., Revenue $61.9B vs $61.1B Est.
Coach COH Q1 EPS $0.45 vs $0.45 Est., Revenue $1.04B vs $1.07B Est.
Molson Coors TAP Q3 EPS $1.03 vs $1.12 Est., Revenue $2.29B vs $2.33B Est.

Sell-Side Themes

Camping World's CWH analyst quiet period has ended. So far, it has received coverage form four analysts.

Sell-Side's Most Noteworthy Calls

Morgan Stanley downgraded Juniper JNPR to Underweight.
Guggenheim downgraded MasterCard MA to Neutral.
Imperial Capital upgraded Allegion ALLE to Outperform.
Summit Redstone upgraded VMware VMW to Buy.
Oppenheimer started Twilio TWLO at Outperform.

Deal Talk

Cipher Pharmaceuticals CPHR is said to have hired an investment bank to explore strategic alternatives, according to sources as reported by Reuters on Monday. The sources said a potential sale of the Canada-based company is being considered. Cipher declined comment on the report.

Gannett GCI has dropped its bid to acquire tronc TRNC, sending shares of the latter down 30 percent.

Mario Gabelli on Monday gained the upper hand in his battle to force Carl Icahn to sweeten his offer for a car-parts manufacturer. Icahn, who owns 82 percent of Federal-Mogul FDML, offered $9.25 a share for the remaining stake but fell way short after Gamco Investors boss Gabelli — who has a leading stake in Federal-Mogul — pressed for a higher price.

In The News

The world’s second-largest economy, China, is slowing. Easy credit and successive fiscal stimuli, designed to keep China aloft, mean it's awash in money that is chasing an increasingly small number of investment opportunities. China’s money supply has quadrupled since 2007, and the new cash is largely trapped inside the country by government capital controls.

In 2015, automakers sold a record 17.5 million cars and light trucks in the US. Unfortunately for auto investors, the days of record sales may have come to an end. Michelle Krebs, senior analyst at Auto Trader, joined PreMarket Prep to explain the pricing problem the auto industry is running into and why that problem will likely impact this week's October U.S. auto sales numbers.

Blogosphere

Jack ma goes to Hollywood. Read what the Alibaba BABA CEO's real-life script might look like.

Guess This Chart

This company reported Q1 EPS on Tuesday of $0.45 vs $0.45 Est, Revenue $1.04B vs $1.07B Est, and said they expect their fiscal year 2017 revenue to increase by low to mid single digits.
This company was rumored to be involved in to be in merger talkes with Burberry last week.
Sympathy plays include Vera Bradley, Michael Kors and Kate Spade.

This 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.

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