The Market In 5 Minutes

IN THE NEWS

BENZINGA

Tesla TSLA delivered over 25,000 vehicles in Q1, of which about 13,450 were Model S and about 11,550 were Model X. This was a new quarterly record and represents a 69 percent increase over Q1 2016: Link

Tim Seymour plays drums and sings in a pair of Wall Street rock bands, orders a shot of Blanco tequila with his beer and owns a couple bars in Manhattan because running pubs was something he once thought might make a great living: Link

World Wrestling Entertainment WWE shares may be perfectly positioned for a post-event short trade. Once again this year, WWE plans to host a post-WrestleMania conference call on Monday to update shareholders on WWE Network subscriber numbers: Link

THE WALL STREET JOURNAL

Federal Reserve officials are zeroing in on a strategy to begin winding down their $4.5 trillion portfolio of mortgage and Treasury securities, possibly later this year, as part of their broader effort to drain reservoirs of stimulus out of the financial system: Link

REUTERS

An explosion in a metro station in St. Petersburg on Monday has injured several people, according to Life News, a news outlet with close ties to Russia's security services: Link

A U.S. Senate panel on Monday is expected to advance President Donald Trump's Supreme Court nominee, Neil Gorsuch, to a full Senate vote later in the week, setting up a political showdown as Democrats seek to block his confirmation: Link

British private equity firm Apax Partners has agreed to buy Israel's Syneron Medical Ltd ELOS, a non-surgical aesthetic device company, for $11.00 per share in cash, or a total of $397 million, the companies said on Monday: Link

Shares in Imagination Tech crashed more than 70 percent on Monday after the British company said its biggest customer, Apple Inc. AAPL, would stop using its graphics technology in iPhones, iPads and Apple Watches: Link

BLOOMBERG

President Trump said the U.S. can “totally” address North Korea’s nuclear threat unilaterally if China doesn’t cooperate to put pressure on that nation, according to the Financial Times: Link

French left-wing candidate Jean-Luc Melenchon’s creeping gain in the polls is adding a new layer of risk to France’s election: Link

THE NEW YORK TIMES

The largest fund company in the world, BlackRock, Inc. BLK, has faced a thorny challenge since it acquired the exchange-traded-fund business from Barclays in 2009: Link

ECONOMIC DATA

• The manufacturing PMI for Match is schedule for release at 9:45 a.m. ET.
• The ISM manufacturing composite index for March will be released at 10:00 a.m. ET.
• Data on construction spending for February will be released at 10:00 a.m. ET.
• New York Federal Reserve Bank President William Dudley is set to speak in New York at 10:30 a.m. ET.
• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• Richmond Federal Reserve Bank President Jeffrey Lacker will speak in Lexington, Virginia at 5:00 p.m. ET.

ANALYST RATINGS

• Jefferies upgraded Huntington Bancshares HBAN from Hold to Buy
• Goldman Sachs upgraded Granite Construction GVA from Neutral to Buy
• JMP Securities upgraded Meritage Homes MTH from Market Weight to Market Outperform
• FBR Capital downgraded Under Armour UAA from Market Perform to Underperform
• Wells Fargo downgraded Mead Johnson Nutrition MJN from Outperform to Market Perform
• Goldman Sachs downgraded Accenture ACN 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.