Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

BENZINGA

If you think Donald Trump will make it through his first term in office without being impeached, don’t bet on it. According to the newest numbers from bookies in the U.K., the odds of a first-term Trump impeachment have narrowed and are now approaching even on some sites: Link

Twitter Inc (NYSE: TWTR) has been the source of dozens of takeover rumors, but news of CEO Jack Dorsey's latest purchase raises significant doubts of their veracity: Link

Fill up your tanks while you can. According to a new report by GasBuddy, low gas prices may soon be in the rearview mirror for American drivers: Link

The concern about a potential trade battle between the United States and Mexico brings up one question among sundry Americans: Who would be most affected? Link

THE WALL STREET JOURNAL

Snap Inc. set a valuation for itself between $19.5 billion and $22.2 billion, according to people familiar with the matter, as the disappearing-message app company nears its landmark initial public offering: Link

Verizon Communications Inc. (NYSE: VZ) and Yahoo Inc. (NASDAQ: YHOO) are closing in on a revised deal that would reduce the price Verizon would pay for the Internet company’s core business by about $300 million, people familiar with the matter said: Link

Andy Puzder withdrew himself from consideration to become Labor secretary in a new personnel blow to the White House, after Republican support in the Senate disintegrated over personal issues that dogged the fast-food executive leading up to a planned confirmation hearing: Link

The tight synchronization that has characterized financial markets for much of the past decade is breaking down, presenting investors with opportunities and risks they haven’t grappled with in years: Link

REUTERS

Boeing Co (NYSE: BA) handily defeated a union drive by workers at the company's aircraft factory in South Carolina on Wednesday, as almost three-quarters of workers at the plant who voted rejected union representation: Link

America's largest banks are to propose a complete overhaul of how financial institutions investigate and report potential criminal activity, arguing that rules imposed in the years after the Sept. 11, 2001 attacks and strengthened during the Obama administration are onerous and ineffective, sources said. The Clearing House, a trade association representing the largest U.S. banks including Goldman Sachs (NYSE: GS), JPMorgan Chase & Co (NYSE: JPM) and Bank of America (NYSE: BAC), has long raised concerns about the effectiveness of the current rules, but this will be the first time the group has publicly called for them to be revamped: Link

Staff at the U.S. Environmental Protection Agency have been told that President Donald Trump is preparing a handful of executive orders to reshape the agency, to be signed once a new administrator is confirmed, two sources who attended the meeting told Reuters on Wednesday: Link

BLOOMBERG

The six largest U.S. banks could see annual profit jump by an average of 14 percent if President Donald Trump delivers on his promise to cut corporate taxes: Link

For years, Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has been thinking about tunnels — both out of a personal fascination and because they'd be an important component of the Hyperloop, the fanciful high-speed rail system he proposed in 2013: Link

NEW YORK POST

Walgreens (NASDAQ: WBA) may finally have the right prescription to get its $10 billion acquisition of Rite Aid (NYSE: RAD) through federal regulators, The Post has learned: Link

Janet Yellen isn’t exactly going out of her way to make nice with President Trump. The Federal Reserve chair pushed back on Tuesday against Trump’s comments on reduced bank lending — saying that Obama-era regulations haven’t made it harder for people to borrow money: Link

ECONOMIC FIGURES

  • Housing Starts for Jan 1.25M vs 1.23M Est; Building Permits for Jan 1.29M vs 1.23M Est
  • USA Philly Fed Business Index for Feb 43.30 vs 23.60 Prior
  • The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.

COMPANY DEVELOPMENTS

ANALYST MEETINGS

Credit Suisse Energy Summit
Leerink Partners Global Healthcare Conference
Goldman Sachs Internet and Technology Conference

SHAREHOLDER MEETINGS

12:30 p.m. Molina Healthcare Inc.
4:30 p.m. Raymond James Financial, Inc.

ANALYST RATINGS

  • Argus Research upgrades Hershey (NYSE: HSY) from Hold to Buy
  • Wells Fargo upgrades Chimera Investment (NYSE: CIM) from Underperform to Market Perform
  • SunTrust Robinson Humphrey upgrades Regions Financial (NYSE: RF) from Hold to Buy
  • Wedbush downgrades Groupon (NASDAQ: GRPN) from Outperform to Neutral
  • Summit Redstone Partners downgrades GoDaddy (NYSE: GDDY) from Buy to Hold
  • Morgan Stanley downgrades Taubman Centers (NYSE: TCO) from Overweight to Equal-Weight

NOTABLE OPTIONS ALERTS

  • AVP Acon Feb 24th 6.5 Calls Sweep: 790 @ ASK $0.15: 3555 traded vs 23 OI: Earnings tmrrw Before Open $5.81 Ref
  • NLNK Newlink Gen Jun 15.0 Calls: 500 @ ASK $3.40: 500 traded vs 2 OI: Earnings 2/28 Before Open (est) $14.86 Ref
  • CAR Avis Budget Feb 39.0 Puts: 1500 @ ASK $1.20: 4551 traded vs 418 OI: Earnings today After Close $40.66 Ref
  • COH Coach Feb 38.5 Puts Sweep: 590 @ ASK $0.55: 785 traded vs 836 OI: Earnings 5/2 Before Open $38.11 Ref
  • DE Deere Feb 24th 111 Calls: 675 @ ASK $1.90: 685 traded vs 242 OI: Earnings 2/17 Before Open $109.01 Ref
  • OCLR Oclaro Mar 12.0 Puts Sweep: 500 @ ASK $1.45: 500 traded vs 45 OI: Earnings 5/2 After Close (est) $10.87 Ref
  • WEN Wendy's Feb 15.0 Calls Sweep: 1775 @ ASK $0.20: 1786 traded vs 113 OI: Earnings tmrrw Before Open $14.43 Ref
  • EMR Emerson Electric Feb 65.0 Calls Sweep: 525 @ ASK $0.10: 3481 traded vs 1055 OI: Earnings 5/2 Before Open (est) $63.59 Ref
  • RCII Rent-A-Center Jun 10.0 Puts Sweep: 577 @ ASK $2.30: 8227 traded vs 150 OI: Earnings 4/24 After Close (est) $8.39 Ref
  • AMAT Applied Mat Feb 34.5 Puts Sweep: 1000 @ ASK $0.39: 2901 traded vs 673 OI: Earnings today After Close $35.61 Ref
  • ASNA Ascena Retail Gp Jun 7.0 Calls Sweep: 1828 @ ASK $0.30: 1828 traded vs 625 OI: Earnings 2/28 After Close (est) $5.33 Ref
  • EIGI Endurance Intl Feb 7.5 Puts: 1300 @ ASK $0.20: 1800 traded vs 789 OI: Earnings tmrrw Before Open $8.07 Ref
  • JD JD Mar 30.0 Calls: 1500 @ ASK $1.25: 2105 traded vs 45k OI: Earnings 2/28 Before Open (est) $30.01 Ref
  • UAA Under Armour Jul 22.5 Calls: 875 @ ASK $1.00: 1907 traded vs 1722 OI: Earnings 4/25 Before Open (est) $19.52 Ref
  • GDDY GoDaddy Feb 35.0 Puts Sweep: 925 @ ASK $0.80: 1125 traded vs 1899 OI: Earnings today After Close $36.28 Ref
  • LPL LG Display Mar 12.5 Puts Sweep: 557 @ ASK $0.75: 1892 traded vs 128 OI: Earnings 4/26 Unspecified (est) $12.12 Ref
  • INFY Infosys Mar 15.0 Puts Sweep: 921 @ ASK $0.40: 921 traded vs 550 OI: Earnings 4/13 Before Open $14.96 Ref
  • HBI HanesBrands Feb 21.0 Calls Sweep: 1700 @ ASK $0.30: 8975 traded vs 689 OI: Earnings 4/20 After Close (est) $20.85 Ref
  • CTSH Cognizant Tech Apr 52.5 Puts: 9000 @ ASK $0.75: 9000 traded vs 782 OI: Earnings 5/4 Before Open (est) $57.62 Ref
  • TWTR Twitter Feb 16.0 Puts Sweep: 8550 @ ASK $0.08: 11k traded vs 13k OI: Earnings 4/25 Before Open (est) $16.48 Ref
  • KMX Carmax Feb 67.5 Calls Sweep: 858 @ ASK $1.26: 858 traded vs 1022 OI: Earnings 4/6 Before Open $68.42 Ref

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