Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

BENZINGA

EXACT Sciences Corporation (NASDAQ: EXAS) shares initially plunged more than 7 percent Monday after Citron Research released a new bearish report on the company. According to Citron’s Andrew Left, Exact is knowingly marketing an inferior colon cancer test: Link

This weekend's ransomware attack took down computer systems and compromised data worldwide, but Monday was business as usual for cybersecurity firm Proofpoint Inc (NASDAQ: PFPT): Link

John Oliver, the host of "Last Week Tonight," roasted Davita Inc (NYSE: DVA) Sunday for alleged abuses in its kidney dialysis business, and when approached for response, Davita hedged: Link

THE WALL STREET JOURNAL

President Donald Trump shared sensitive intelligence obtained from a close U.S. ally with Russia’s foreign minister and ambassador in a meeting last week, according to U.S. officials, potentially jeopardizing critical intelligence-sharing agreements in the fight against Islamic State: Link

Ford Motor Co. (NYSE: F) aims to cut about 10% of its global workforce amid Chief Executive Officer Mark Fields’s drive to boost profits and the auto maker’s sliding stock price, according to people briefed on the plan: Link

REUTERS

Oil prices extended gains on Tuesday after top producers Saudi Arabia, Russia and Kuwait supported prolonging supply cuts until the end of March 2018 in a bid to drain a global glut: Link

After Turkish President Recep Tayyip Erdogan won a narrow victory last month in a contested referendum that gave him sweeping new powers, President Trump was the only Western leader who called to congratulate him. Most other leaders steered clear of endorsing a power grab by the increasingly autocratic Erdogan: Link

BLOOMBERG

Democrats are struggling to challenge President Trump, and with control over nothing in Washington, they’re relying for now on the power of saying “no": Link

The scorching gains that have put emerging-market equities on track for their best year since 2009 are showing signs of flagging: Link

NY POST

Amazon (NASDAQ: AMZN) marked its 20th anniversary as a publicly traded company on Monday — and Chief Executive Jeff Bezos has plenty to celebrate: Link

ECONOMIC DATA

  • USA Building Permits for Apr 1.23M vs 1.27M consensus estimate. Housing Starts for Apr 1.17M vs 1.26M consensus estimate.
  • Redbook Reports US Retail Sales During First 2 Weeks of May Down 1.1% MoM, Up 1.8% YoY
  • Data on industrial production for April will be released at 9:15 a.m. ET.
  • Data on e-commerce retail sales for the first quarter will be released at 10:00 a.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

ANALYST RATINGS

  • Morgan Stanley Upgraded AIG (NYSE: AIG) from Equal-Weight to Overweight
  • Morgan Stanley Upgraded Dr. Pepper Snapple (NYSE: DPS) From Equal-Weight to Overweight
  • Goldman Sachs Upgrades Delek Holdings (NYSE: DK) From Neutral to Buy
  • Goldman Sachs Downgraded Valero Energy (NYSE: VLO) from Buy to Neutral
  • Jefferies Downgraded Performance Food Group (NYSE: PFGC) from Buy to Hold
  • Morgan Stanley Downgrades Church & Dwight (NYSE: CHD) From Equal-Weight to Underweight

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: Andrew Left Citron ResearchNews Short Sellers Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

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