The Market In 5 Minutes

IN THE NEWS

BENZINGA

When FireEye Inc FEYE CEO Kevin Mandia assumed his role in June 2016, he had two immediate projects: restructure cost and advance the portfolio: Link

Imprimis Pharmaceuticals Inc IMMY wants to stop egregious drug pricing issues, and Mallinckrodt PLC MNK is its next target: Link

A screenwriter and producer who contends Walt Disney Co DIS stole his idea for the hit movie “Zootopia” has a case that seems far stronger than the usual claims made against Hollywood, an entertainment analyst said: Link

The latest numbers from the National Automobile Dealers Association indicate used car prices fell another 7.2 percent year-over-year in February: Link

THE WALL STREET JOURNAL

Neil Gorsuch, President Donald Trump’s nominee to the Supreme Court, faces a new round of grilling from the Senate Judiciary Committee on Wednesday after emerging from Tuesday’s nearly-12-hour session with few missteps of any significance: Link

Apple Inc. AAPL's latest culling of its product lines could be seen as an odd twist on Darwinian theory: survival of the fattest. Link

REUTERS

Sears Holdings Corp SHLD, once the largest U.S. retailer, warned on Tuesday about its ability to continue as a going concern after years of losses and declining sales: Link

An overhaul of Fannie Mae FNMA and Freddie Mac FMCC is highly unlikely to make it into this year's legislative calendar, Congressional staffers say, possibly shifting the new administration's immediate focus to allowing the mortgage financing institutions' to rebuild depleted capital: Link

BLOOMBERG

The rally in global oil prices has stalled at the worst possible time for explorers, just as banks reassess credit lines crucial to their growth: Link

Chipotle Mexican Grill, Inc. CMG, whose rapid growth was fueled by millennials enamored of the chain’s signature fresh ingredients, is looking to families to help it recover from a food-safety crisis that tarnished its carefully crafted image: Link

NY POST

President Trump’s former campaign manager signed a secret, $10 million contract with a Russian billionaire that advanced the interests of Russian President Vladimir Putin, a new report reveals: Link

ECONOMIC DATA

• January 2017 US FHFA HPI 0.0% vs 0.4% exp m/m
• Data on existing home sales for February will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

ANALYST RATINGS

• Deutsche Bank upgraded BorgWarner BWA from Hold to Buy
• Berenberg upgraded Teck Resources TECK from Hold to Buy
• KeyBanc upgraded Urban Outfitters URBN from Sector Weight to Overweight
• Morgan Stanley downgraded American Airlines AAL from Overweight to Equal-Weight
• Barclays downgraded Sirius XM Holdings SIRI from Overweight to Equal-Weight
• Goldman Sachs downgraded Frontier Communications FTR from Neutral to Sell

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. To get the full version of this note every morning, click here or email minutes@benzinga.com.