The Market In 5 Minutes: Thursday, April 7, 2016

Below 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. Apply for daily AM access by clicking here or email minutes@benzinga.com.

Macro News

The U.S. Treasury Department’s new curbs on inversions struck down the $150 billion merger of Pfizer PFE and Allergan AGN, "but in seeking to eliminate a tax benefit for companies that use inversions to dodge the high U.S. corporate tax, the government has also swept up foreign companies with ordinary U.S. businesses."

The White House is declining to offer public support for draft legislation that would empower judges to require technology companies such as Apple AAPL to help law enforcement crack encrypted data, sources familiar with the discussions told Reuters.

"Among the reasons money supply went out of fashion [over the last couple decades] were doubts over what it signaled in terms of economic growth or inflation, a difficulty in tracking it at a time of financial innovation plus the suspicion that it was probably better to monitor credit," Bloomberg writes. "Now, economists at Standard Chartered are suggesting it’s time to resurrect money as an indicator, focusing on one gauge named after the late French economist Francois Divisia."

Disney DIS isn't wasting anytime in making sure its "Star Wars" franchise remains fresh in everyone's minds. Disney teased Star Wars fans with a nearly two-minute long teaser for its latest film, "Rogue One: A Star Wars Story." The film is scheduled to be released in cinemas on December 16, 2016.

BZ Newsdesk Focus

USA Initial Jobless Claims for April 1 were 267,000 vs. 270,000 estimates. USA Continuing Claims for March 25 were 2.19 million vs. 2.17 million estimates.

Death of a golf investment? Kerrisdale Capital, a private investment firm, released a new research note on Thursday which argued that ClubCorp's MYCC stock has an 80 percent downside.

Sell-Side Themes

Internet companies have underperformed so far in 2016. JPMorgan's Doug Anmuth pointed out, however, that secular growth and underlying fundamentals of these companies continue to be solid.

Sell-Side's Most Noteworthy Calls

BTIG maintained a Buy rating on Apple, reducing the price target from $141 to $130. The analyst said Apple’s return to revenue growth could be delayed until fiscal 2017, and the company may report a 4 percent decline this fiscal year.

User and engagement trends for Twitter (TWTR) reveal continued declines for the social media platform. Morgan Stanley’s Brian Nowak maintains an Underweight rating on the company, while lowering the price target from $18 to $16.

Deal Talk

IBM IBM and Pfizer launched a joint experiment to help measure Parkinson’s symptoms using IoT and analytics.

EMC EMC and Dell are in talks to divest certain assets. The sale is said to include Documentum; Dell is seeking a buyer for Sonicwall and Quest for a combined $4 billion.

Boston Beer SAM is not for sale. Its founder Koch said he has no interest in selling the company.

What's Up In The News?

Bernie Sanders said Hillary Clinton isn't qualified to be president, escalating the rhetoric in an increasingly tense Democratic race heading into delegate-rich New York. During a rally at Temple University, Sanders listed Wall Street donations to Clinton's super-PAC, as well as her support for past trade deals and the war in Iraq, as reasons why she didn't meet the requirements for the job.

Digital disruption is coming quickly to TV news; how can broadcasters adapt and respond?

Tesla TSLA CEO Elon Musk originally wanted to call the upcoming “Model 3” sedan the “Model E.” That way, Tesla's main product line would consist of the Model S, the Model E and the Model X, spelling "S-E-X." Musk’s bold, libidinous vision advanced the tactics Detroit has been using for a century now, with leggy models and constant talk of “curves” and "clutches," says Adam Hanft, a New York-based brand strategist. "From the very beginning, cars have been sold on a Freudian basis," Hanft told The New York Post.

Blogosphere

The U.S. Treasury is wrong about our merger and growth, writes WSJ's Ian Read. "The broken U.S. The broken U.S. tax system puts American companies like Pfizer at a competitive disadvantage."

Are there any Americans in those Panama Papers? Many are wondering.

Trending

It wouldn't be news until it's a hashtag, right? Following Bernie Sanders' comments, #HillarySoQualified has been a hit.

While Wednesday was the lesser-known National Walking Day, today is World Heath Day. The number of people living with diabetes has nearly quadrupled since 1980 to 422 million adults. In its first "Global report on diabetes," WHO highlights the need to step up prevention and treatment of the disease.

Quote Of The Day

"You can see in the table below that JPMorgan Chase alone has enough loss absorbing resources to bear all the losses [$350 billion], assumed by CCAR, of the 31 largest banks in the United States."

In his annual shareholder letter, JPMorgan Chase JPM CEO Jamie Dimon points out that his bank could, if necessary, absorb the theoretical losses of every single bank subject to the Federal Reserve's annual stress tests