The Market In 5 Minutes

IN THE NEWS

BENZINGA

Netflix, Inc. NFLX said it will continue to aggressively grow its original content by continuing to plan about $2 billion in negative free cash for this year. Mark Cuban told Benzinga this strategy will help the company by giving it the opportunity to create longer shelf lives for shows: Link

When it comes to copyright infringements, Facebook Inc FB takes the offense seriously. The company recently invested in automated filtering systems to target and promptly remove intellectual property violations, which led to a crackdown on fan tributes and cover songs. But evidence of violence doesn’t seem as highly prioritized. Even as Facebook quickly trashes songs and movies, media of homicides, rapes and suicides escape filters and boast surprising longevity: Link

The Benzinga Global Fintech Awards finalists were chosen by their peers in a social voting competition. In all, 372 companies applied to the competition, and 225 finalists received over 100,000 votes to advance to the judging round: Link

THE WALL STREET JOURNAL

British Prime Minister Theresa May said she would call an early general election on June 8 in a move that if she wins could give her more leeway in coming negotiations with the European Union. Link

Theranos Inc. and its founder pledged to stay out of the blood-testing business for at least two years in exchange for reduced penalties from federal health authorities, in an agreement that resolves a year-long regulatory impasse. Link

REUTERS

U.S. President Donald Trump on Tuesday will sign an executive order directing federal agencies to recommend changes to a temporary visa program used to bring foreign workers to the United States to fill high-skilled jobs: Link

Arconic Inc ARNC said on Monday Chief Executive Klaus Kleinfeld resigned after the U.S. specialty metals maker found he sent a letter in "poor judgment" to Elliott Management, with whom it is embroiled in a proxy war and which used the chance to again criticize the company's board.

BLOOMBERG

Apple AAPL is testing a revamped iPhone with an all-screen front, curved glass and a stainless steel frame alongside upgrades to the current models. Link

“America is not a great place for people with only a high school degree, and I don’t think that’s going to get better anytime soon.” Young white America is haunted by a crisis of despair: Link

THE NEW YORK TIMES

Steve Ballmer plans to make public a database and a report that he and a small army of economists, professors and other professionals have been assembling as part of a stealth start-up over the last three years called USAFacts. The database is perhaps the first nonpartisan effort to create a fully integrated look at revenue and spending across federal, state and local governments. Andrew Ross Sorkin has the story: Link

ECONOMIC DATA

• Housing Starts (MoM) for Mar -6.80% vs -3.00% consensus estimate; Housing Starts for Mar 1.22M vs 1.25M consensus estimate.
• Building Permits for Mar 1.26M vs 1.25M consensus estimate; Building Permits (MoM) for Mar 3.60% vs 2.80% consensus estimate.
• Redbook U.S. Retail Sales For First 2 Weeks Of April Up 1.2% MoM, Up 2.0% YoY; U.S. Retail Sales Up 2.3% Week Ended Apr. 15th vs. Prior Year Period
• Kansas City Federal Reserve Bank President Esther George is set to speak in Annandale-on-Hudson, N.Y. at 9:00 a.m. ET.
• Data on industrial production for March will be released at 9:15 a.m. ET.
• The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

ANALYST RATINGS

• Raymond James upgraded Aflac AFL from Market Perform to Outperform
• Morgan Stanley upgraded Check Point Software CHKP from Underweight to Equal-Weight
• Argus Research upgraded Fastenal FAST from Hold to Buy
• Piper Jaffray downgraded Cummins CMI from Overweight to Neutral
• B. Riley downgraded American Eagle Outfitters AEO from Buy to Neutral

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.