Market Overview

The Market In 5 Minutes: One For The Thumb

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The Market In 5 Minutes: One For The Thumb
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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 gained 2 points to 19,988.00, while the Standard & Poor’s 500 index futures fell 0.25 points to 2,290.75. Futures for the Nasdaq 100 index slipped 2 points to 5,153.00.

Oil prices traded higher as Brent crude futures gained 0.09 percent to trade at $56.86 per barrel, while US WTI crude futures rose 0.26 percent to trade at $53.97 a barrel.

  • The Labor Market Conditions Index for January 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.
  • The TD Ameritrade Investor Movement Index for January will be released at 12:30 p.m. ET.
  • Philadelphia Federal Reserve Bank President Patrick T. Harker is set to speak in San Diego, Calif. at 4:30 p.m. ET.

BZ News Desk Focus

  • Hasbro (NASDAQ: HAS) Q4 EPS $1.64 vs $1.27 Est, Revenue $1.63B vs $1.50B Est., Raises Qtr Dividend From $0.51 to $0.57/Share

Most of the Dow Jones Industrial Average components have already reported their most recent earnings, but two more will be taking their turns in the spotlight this week: Coca-Cola (NYSE: KO) and Disney (NYSE: DIS). Wall Street consensus forecasts call for earnings that are smaller than a year ago from both companies. This was for the period when Coca-Cola announced that CEO Ahmet Muhtar Kent would step down, and Disney's new "Star Wars" movie performed well at the box office.

Sell-Side Themes

Bernstein upgraded American Airlines (NASDAQ: AAL) to Market Perform and Delta Air Lines (NYSE: DAL) to Outperform.

Sell-Side's Most Noteworthy Calls

  • Mizuho downgraded Tiffany (NYSE: TIF) to Neutral.
  • Roth Capital downgraded Bluebird Bio (NASDAQ: BLUE) to Neutral.
  • RBC Capital upgraded TrueCar (NASDAQ: TRUE) to Outperform.
  • Roth Capital upgraded Glu Mobile (NASDAQ: GLUU) to Buy.
  • Piper Jaffray started Bioverativ (NASDAQ: BIVV) at Neutral with a $44 target.

Deal Talk

DHT Holdings (NYSE: DHT) announced that its Board of Directors has unanimously rejected Frontline's (NYSE: FRO) unsolicited, non-binding, highly conditional proposal to acquire all of the outstanding shares of common stock in DHT for a per-share consideration of 0.725 Frontline shares.

Hudson's Bay has contacted Macy's (NYSE: M) regarding an acquisition of the retailer, according to sources as reported by the Wall Street Journal on Friday. The sources said in addition to an acquisition, there might be a deal involving Macy's real estate.

Shares of Acadia Pharmaceuticals (NASDAQ: ACAD) spiked higher Friday on unconfirmed takeover chatter. "Sources" say the biotech company was approached by AstraZeneca (NYSE: AZN). An Acadia spokesperson told Benzinga the company doesn't comment on rumors in the marketplace.

Laboratory Corp. of America (NYSE: LH) is in talks to acquire contract researcher Pharmaceutical Product Development LLC for more than $8 billion, according to sources as reported by Reuters on Friday. In addition to LabCorp, buyout firms are also interested in PPD, the sources said. PPD is owned by Carlyle Group (NASDAQ: CG) and Hellman & Friedman LLC.

In The News

For the first time ever, the Super Bowl game went into overtime. The New England Patriots overcame a 28-3 deficit to defeat the Atlanta Falcons 34-28 in Super Bowl LI, the biggest comeback in NFL postseason history. Tom Brady claimed his fourth Super Bowl MVP award, surpassing Joe Montana, and won his fifth Lombardi Trophy.

A federal appeals court is set to rule on President Donald Trump’s executive order on immigration in a decision that may have more influence—and last longer—than usual because of the longstanding vacant seat on the U.S. Supreme Court.

Blogosphere

One of our top sources for investments in the cannabis industry Alan Brochstein, founding partner at New Cannabis Ventures and founder at 420 Investor, who periodically updates us on which marijuana stocks we should keep an eye on and which ones we should avoid. On this occasion, the expert shared a look at two marijuana penny stocks with suspicious insider buys: mCig (OTC: MCIG) and Players Network (OTC: PNTV).

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