The Market In 5 Minutes: China, ZTE, McDonald's And More

IN THE NEWS

Eli Lilly LLY CEO calls for uniform prices, better use of technology in health care. Link

The U.S. District Court in Washington is set to rule on the AT&T T-Time Warner TWX merger on June 12. Here's how UBS says to trade it. Link

The chairman of ZTE apologized to staff and customers on Friday after the Chinese technology firm agreed to pay a $1 billion fine to the United States. Link

In 2017, 18 Chinese bond issuers defaulted. Through June 4, 2018 that number was already up to 12. Link $

McDonald’s MCD, battered by price wars and struggling to revive its U.S. burger business, said it will cut layers of managers as part of a $500 million cost-cutting plan. Link $

Jack Ma's Ant Financial just announced a funding round of $14 billion, one of the largest private capital raises ever. Link $

ECONOMIC DATA

Data on wholesale inventories for April will be released at 10:00 a.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

JP Morgan Upgrades DexCom DXCM to Overweight
William Blair Upgrades Quest Diagnostics DGX to Outperform
Bernstein Upgrades ConocoPhillips COP to Outperform, Announces $82 price target
Bernstein Downgrades Concho Resources CXO to Market Perform, Announces $130 Price Target

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.