Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

BENZINGA

When FireEye Inc (NASDAQ: FEYE) CEO Kevin Mandia assumed his role in June 2016, he had two immediate projects: restructure cost and advance the portfolio: Link

Imprimis Pharmaceuticals Inc (NASDAQ: IMMY) wants to stop egregious drug pricing issues, and Mallinckrodt PLC (NYSE: MNK) is its next target: Link

A screenwriter and producer who contends Walt Disney Co (NYSE: DIS) stole his idea for the hit movie “Zootopia” has a case that seems far stronger than the usual claims made against Hollywood, an entertainment analyst said: Link

The latest numbers from the National Automobile Dealers Association indicate used car prices fell another 7.2 percent year-over-year in February: Link

THE WALL STREET JOURNAL

Neil Gorsuch, President Donald Trump’s nominee to the Supreme Court, faces a new round of grilling from the Senate Judiciary Committee on Wednesday after emerging from Tuesday’s nearly-12-hour session with few missteps of any significance: Link

Apple Inc. (NASDAQ: AAPL)'s latest culling of its product lines could be seen as an odd twist on Darwinian theory: survival of the fattest. Link

REUTERS

Sears Holdings Corp (NASDAQ: SHLD), once the largest U.S. retailer, warned on Tuesday about its ability to continue as a going concern after years of losses and declining sales: Link

An overhaul of Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC) is highly unlikely to make it into this year's legislative calendar, Congressional staffers say, possibly shifting the new administration's immediate focus to allowing the mortgage financing institutions' to rebuild depleted capital: Link

BLOOMBERG

The rally in global oil prices has stalled at the worst possible time for explorers, just as banks reassess credit lines crucial to their growth: Link

Chipotle Mexican Grill, Inc. (NYSE: CMG), whose rapid growth was fueled by millennials enamored of the chain’s signature fresh ingredients, is looking to families to help it recover from a food-safety crisis that tarnished its carefully crafted image: Link

NY POST

President Trump’s former campaign manager signed a secret, $10 million contract with a Russian billionaire that advanced the interests of Russian President Vladimir Putin, a new report reveals: Link

ECONOMIC DATA

  • January 2017 US FHFA HPI 0.0% vs 0.4% exp m/m
  • Data on existing home sales for February will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.

ANALYST RATINGS

  • Deutsche Bank upgraded BorgWarner (NYSE: BWA) from Hold to Buy
  • Berenberg upgraded Teck Resources (NYSE: TECK) from Hold to Buy
  • KeyBanc upgraded Urban Outfitters (NASDAQ: URBN) from Sector Weight to Overweight
  • Morgan Stanley downgraded American Airlines (NASDAQ: AAL) from Overweight to Equal-Weight
  • Barclays downgraded Sirius XM Holdings (NASDAQ: SIRI) from Overweight to Equal-Weight
  • Goldman Sachs downgraded Frontier Communications (NASDAQ: FTR) from Neutral to Sell

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.

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