The Market In 5 Minutes: Earnings Season, Tesla, Twitter And The EpiPen

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 Focus

Futures for the Dow Jones Industrial Average climbed 50 points to 18,207.00, while the Standard & Poor’s 500 index futures gained 7.50 points to 2,154.00. Futures for the Nasdaq 100 index rose 15.50 points to 4,874.50.

Oil prices traded higher as Brent crude futures gained 0.52 percent to trade at $52.20 per barrel, while US WTI crude futures also rose 0.24 percent to trade at $49.93 a barrel.

  • The TD Ameritrade Investor Movement Index for September is schedule for release at 12:30 p.m. ET.
  • Chicago Federal Reserve President Charles Evans is set speak at Australian Business Economists Luncheon in Sydney, Australia at 10:00 p.m. ET.

BZ News Desk

Alcoa AA is scheduled to report numbers on Tuesday. The aluminum producer is expected to announce Q3 earnings of $0.12 per share on revenue of $5.3 billion.

Later in the week, JPMorgan JPM and Wells Fargo WFC will announce its results. These banks will be followed by Citi, Morgan Stanley and others in the proceeding days, as the earnings season really starts to turn up.

Sell-Side Themes

Analysts are wondering: What does Tesla TSLA CEO Elon Musk have in store after Tweeting Sunday that he will unveil an "unexpected by most" new product on October 17 and a potential joint Tesla-SolarCity SCTY on October 28?

Mylan MYL over the weekend announced a $465 million settlement agreement with the Department of Justice over its EpiPen classification. The stock was up more than 11 percent to $40.13 in Monday's pre-market session. Several Wall Street analysts were quick to weigh in on the issue.

Sell-Side's Most Noteworthy Calls

  • Nomura downgraded PNC Financial PNC to Neutral.
  • Goldman Sachs downgraded Coca-Cola European CCE to Neutral.
  • Wells Fargo upgraded Under Armour UA to Outperform.
  • Longbow Research upgraded Panera Bread PNRA to Buy.
  • Deutsche Bank started coverage on Netflix NFLX at Sell.
  • Piper Jaffray started First Solar FSLR at Neutral.

Deal Talk

Shares of Twitter TWTR were trading lower by more more than 8 percent following a Bloomberg report which suggested the social media company is no longer being targeted for an acquisition/ Potential bidders reportedly lost interest due to pressure from their major investors. Companies such as Salesforce CRM, Disney DIS and Alphabet's GOOGL Google unit all consulted with their respective financial advisers and bankers and the conclusion that was reached appears to be unfavorable for Twitter investors who were hoping a takeout would occur at a hefty premium.

In The News

Hurricane Matthew pummeled North and South Carolina with strong winds and record flooding, leaving at least 18 people dead on its rampage up the Atlantic coast.

Samsung is putting the brakes on its beleaguered Galaxy Note 7 smartphone as fears spread that even replacement versions of the device can burst into flames. Production of the phone has been temporarily suspended, a person familiar with the matter told CNN.

Blogopshere

Forget investing like Warren Buffett... Maybe you should try investing with him instead.

Trending

BMY TSRO TSLA MYL MRK TWTR LPCN MZOR ZBRA VRX GPS GS

In their second #debate, Donald Trump and Hillary Clinton quickly veered from optimistic opening statements to a litany of rancorous attacks, often aimed at the other's character. A Benzinga poll showed showed an overwhelmingly amount (65 percent) of users think Trump "won" the debate.

Guess This Chart

  • This stock was the top gainer in the S&P 500 on Friday, rising over 15 percent.
  • They reported September comps were down 3 percent, compared with a 1 percent decline last year.
  • Sympathy plays include Nordstrom, American Eagle Outfitters and Express.
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