IN THE NEWS
BENZINGA
Is bitcoin’s 2017 outperformance a sign of the changing of the guard when it comes to safety plays?: Link
Apple Inc. AAPL’s share of the Chinese midrange-segment smartphone market plunged from 31 percent to 15 percent in the year following March 2016, a phenomenon Barclays attributes primarily to competitive dynamics, coupled with a stall in demand: Link
Amazon.com, Inc. AMZN will acquire Whole Foods WFM for $42 per share.
THE WALL STREET JOURNAL
The European Union’s antitrust watchdog in the coming weeks is set to hit Alphabet Inc.'s GOOGL Google with a record fine for manipulating its search results to favor its own comparison-shopping service, according to people familiar with the matter: Link
Friction between the U.S. and Mexico over trade is starting to cut into sales for U.S. farmers and agricultural companies, adding uncertainty for an industry struggling with low commodity prices and excess supply: Link
REUTERS
Shares of Snap Inc SNAP dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors' loss of confidence in the social media company that faces fierce competition from Facebook FB: Link
The five largest U.S. technology companies may have lost enough market capitalization over the past week to buy plane maker Boeing BA, but the benchmark S&P 500 stock index SPX has managed to remain within a stone's throw of its record high: Link
BLOOMBERG
U.S. President Donald Trump has another growing headache on Capitol Hill: a bipartisan Senate Judiciary Committee probe of his firing of FBI Director James Comey that Democrats say should look into possible obstruction of justice: Link
With the $70 billion TV advertising market in its sights, Facebook is starting to bankroll the creation of video series that will begin to appear on the world’s largest social network later this year: Link
NY POST
San Francisco-based Lyft — a rival ride-hailing app that has largely sidestepped the scandals that have tarnished Uber’s reputation — has lately watched investors scramble for its privately traded shares, pushing secondary market prices to all-time highs: Link
ECONOMIC DATA
- USA Housing Starts for May 1.09M vs 1.22M consensus estimate. Building Permits for May 1.17M vs 1.25M consensus estimate.
- The University of Michigan's consumer sentiment index for June is schedule for release at 10:00 a.m. ET.
- Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Dallas at 12:45 p.m. ET.
- The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
ANALYST RATINGS
- Mizuho upgraded Teva Pharmaceutical TEVA from Underperform to Neutral
- Credit Suisse upgraded Brookfield Infrastructure BIP from Neutral to Outperform
- Jefferies upgraded Regency Centers REG from Hold to Buy
- JP Morgan downgraded Nike NKE from Overweight to Neutral
- Vertical Research downgraded Booz Allen Hamilton BAH from Buy to Hold
- Jefferies downgraded Tanger Factory Outlet SKT from Buy to Hold
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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