Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

BENZINGA

Bill Ackman has sold his entire position of Valeant Pharmaceuticals Intl Inc (NYSE: VRX): Link

Credit Suisse said Sportsman's Warehouse Holdings Inc (NASDAQ: SPWH) will be a better beneficiary from the bankruptcy of Gander Mountain Company versus Dicks Sporting Goods Inc (NYSE: DKS): Link

Benzinga recently spoke with Leslie Bocskor, an investment banker and president of the cannabis advisory firm Electrum Partners, about how CEOs in the marijuana industry could navigate market volatility in times of regulatory uncertainty: Link

THE WALL STREET JOURNAL

Facebook Inc. (NASDAQ: FB) said on Monday that data about its users cannot be used for surveillance, cracking down on a method police departments allegedly used to track protesters and activists: Link

The number of Americans without health insurance would grow by 24 million under a House Republican proposal to topple most of the Affordable Care Act, according to a nonpartisan report that is likely to complicate GOP lawmakers’ efforts to unite around the plan: Link

The New York attorney general accused Exxon Mobil Corp. (NYSE: XOM) Monday of withholding documents from his office as it investigates whether the energy company misrepresented its understanding of climate change to investors and the public: Link

REUTERS

Boeing Co (NYSE: BA) and about 90 other aerospace companies are urging Congress to overhaul the U.S. tax system, saying a set of changes Republicans proposed last year — including a big cut in the corporate tax rate — will make them more competitive globally and help create U.S. jobs: Link

Toshiba is 'actively considering' a sale and other strategic options for U.S. nuclear unit Westinghouse, the group said on Tuesday, as it expanded a probe into problems there that caused it to miss an earnings deadline for a second time: Link

BLOOMBERG

The 94-year-old creator of the lithium-ion battery has invented another breakthrough storage device that’s capturing the attention of industry heavyweights: Link

Treasury Secretary Steven Mnuchin has raised the alarm on the U.S. debt ceiling, and Republican leaders insist they won’t push it to the limit as in past years by using it as a bargaining chip for deep spending cuts: Link

NY POST

Pandora Media, Inc. (P) on Monday launched a new $10 monthly on-demand product, “Pandora Premium,” that will compete with Spotify and Apple Music, among others: Link

Brian Chesky, the 35-year-old chief executive of Airbnb, hinted that the home-sharing site could launch an initial public offering next year: Link

ECONOMIC DATA

  • PPI (MoM) for Feb 0.30% vs 0.10% estimate. PPI (YoY) for Feb 2.20% vs 2.00% estimate. Core PPI (YoY) for Feb 1.50% vs 1.50% estimate.
  • The Federal Open Market Committee will begin two-day policy meeting today.
  • The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

ANALYST RATINGS

  • Guggenheim upgraded Disney (NYSE: DIS) from Neutral to Buy
  • JP Morgan downgraded Cooper Tire & Rubber (NYSE: CTB) from Neutral to Overweight
  • Raymond James upgraded Ethan Allen Interiors (NYSE: ETH) from Market Perform to Strong Buy
  • Goldman Sachs downgraded Corning (NYSE: GLW) from Buy to Neutral
  • Jefferies downgraded Mobileye (NYSE: MBLY) from Buy to Hold
  • Drexel Hamilton downgraded Harmonic (NASDAQ: HLIT) from Buy to Hold

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 or email minutes@benzinga.com.

Posted-In: Market in 5 minutesNews Global Top Stories Markets Best of Benzinga

 

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