The Market In 5 Minutes

IN THE NEWS

BENZINGA

A turnaround could be brewing at Lululemon Athletica Inc. LULU, which reported encouraging first-quarter results that saw a beat Thursday and raised its fiscal 2017 outlook: Link

An exit from the Paris Climate Agreement by the U.S., the second largest emitter of greenhouse gases, is seen as a catastrophe for the pact: Link

2017's first-half auto trend continued into May, as automakers reported lukewarm sales results: Link

THE WALL STREET JOURNAL

A day after President Donald Trump’s decision to pull out of the Paris climate accord, states and cities around the country are vowing to adhere to their own aggressive climate policies, independent of the federal government: Link

General Motors Company GM is limping into the highly anticipated summer selling season, beaten by Ford Motor Company F as the market’s top seller in May and on course for more job cuts at its American factories: Link

REUTERS

Tesla Inc TSLA Chief Executive Officer Elon Musk and Walt Disney Co DIS CEO Robert Iger said on Thursday they would leave White House advisory councils after U.S. President Donald Trump said he would withdraw from the Paris climate accord: Link

Former FBI Director James Comey will testify before the Senate Intelligence Committee on June 8 as part of its probe into alleged Russian meddling in the U.S. presidential election and possible collusion with President Donald Trump's campaign, the committee said on Thursday: Link

BLOOMBERG

The electric car has dropped out of favor in the country that pioneered renewable energy: Link

The Puerto Rico bankruptcy, the culmination of years of decline, has accelerated an exodus that’s adding to the island’s economic misery: Link

NY POST

Activist investor Jonathan Litt is not ready to admit defeat in its battle against mall REIT Taubman Centers, Inc. TCO: Link

ECONOMIC DATA

• The ISM NY Business Conditions is scheduled for release at 9:45 a.m ET.
• The ECRI Weekly Index is scheduled for release at 10:30 a.m ET.
• FOMC Member Patrick Harker is scheduled to speak at 12:45 p.m.  ET.
• The U.S. Baker Hughes Oil Rig Count is scheduled for release at 1:00 p.m. ET.

ANALYST RATINGS

• Wells Fargo upgraded Jack In The Box Inc. JACK from Market Perform to Outperform
• DA Davidson upgraded WesBanco Inc WSBC from Neutral to Buy
• Wunderlich upgraded Viasat, Inc. VSAT from Sell to Hold
• Evercore ISI Group downgraded Automatic Data Processing ADP from In-Line to Underperform
• BTIG Research downgraded Workday Inc WDAY from Buy to Neutral
• Credit Suisse downgraded Whiting Petroleum Group WLL from Outperform to Neutral

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.