The Market In 5 Minutes: Netflix, TPP, Qualcomm, Costco And More

IN THE NEWS

After more than a year of testing, the Securities and Exchange Commission has pulled the plug on a controversial pilot program aimed at improving liquidity among thinly traded small-cap stocks: Link

Netflix, Inc. NFLX is scheduled to report its first quarter results on Monday and expectations are high based on the options market, which is pricing in a 10 percent move in either direction: Link

Can last week's biotech recovery be sustained? Stay tuned to the following catalytic events that can determine the direction of biotech in the upcoming week: Link

White House efforts to rejoin the Trans-Pacific Partnership face big challenges and negotiations that could stretch out beyond President Donald Trump’s first term, trade experts say: Link $

U.S. chipmaker Qualcomm QCOM will refile as early as Monday an application with the Chinese government to clear its $44 billion takeover of NXP Semiconductors NXPI, sources said, giving regulators more time to decide on the deal and averting a collapse: Link

A few weeks ago, Donald Trump invited Vladimir Putin to meet -- maybe even at the White House. After U.S.-led missile strikes in Syria, the two nations’ officials can’t get into the same room without insulting each other: Link

How much Wall Street might actually benefit from President Donald Trump’s deregulatory agenda is coming into focus: Link

Wall Street watchdogs are sniffing around the sale of David Geffen’s $85 million Malibu compound to Guggenheim Partners’ chief executive as well as other transactions with ties to the asset manager: Link

ECONOMIC DATA

• Retail Sales (MoM) for Mar 0.60% vs 0.40% Est; Prior -0.10%. Core Retail Sales (MoM) for Mar 0.20% vs 0.20% Est; Prior 0.20%
• USA NY Empire State Manufacturing Index for Apr 15.80 vs 18.80 Est; Prior 22.50
• Data on business inventories for February will be released at 10:00 a.m. ET.
• The housing market index for April is schedule for release at 10:00 a.m. ET.
• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Florence, Alabama at 1:15 p.m. ET.
• The Treasury International Capital report for February will be released at 4:00 p.m. ET.

ANALYST RATINGS

• Goldman Sachs upgraded Boston Beer Co. SAM from Sell to Neutral
• Wells Fargo upgraded Costco COST from Market Perform to Outperform
• Credit Suisse downgraded Kraft Heinz KHC from Outperform to Underperform
• Susquehanna downgraded Crocs CROX from Neutral to Negative

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.