The Market In 5 Minutes

IN THE NEWS

Benzinga

Following a price target hike from Cantor Fitzgerald on Wednesday, Valeant Pharmaceuticals Intl Inc VRX shareholders find themselves in an unfamiliar place—fresh six-month highs: Link

At the end of the day, the pricing of any IPO issue is up to the investors to decide, Blue Apron APRN CEO Matt Salzberg told CNBC. Instead of focusing on the stock price, he's committed to tackling the huge market potential it faces and the long-term picture: Link

The latest version of President Donald Trump’s travel ban on people from mainly Muslim countries goes into effect Thursday night, and serious questions remain about just how equitably the controversial measure will be applied: Link

Wall Street Journal

Big banks cut their oil price forecasts for a second month in a row amid signs that the global crude glut would take longer to abate: Link

General Electric GE, the ultimate global player, is turning local. Just look at its $200M investment in India, a crucial component to winning giant locomotive deal: Link

Reuters

Airbus is launching a reorganization of its commercial aircraft sales operations in a move likely to focus fresh attention on a delicate balance of power at Europe's largest aerospace company, people familiar with the situation said: Link

As U.S. officials investigated in January the FSB's alleged role in election cyber attacks, U.S. technology firms were quietly lobbying the government to soften a ban on dealing with the Russian spy agency, people with direct knowledge of the effort told Reuters: Link

Bloomberg

Elon Musk gets all the attention. But small companies in China have plans to build battery factories that can supply an additional 120 gigawatt-hours of power a year by 2021: Link

In 31 minutes a hedge fund managed by Martin Shkreli in 2012 went from a roaring success to an empty shell, one of his investors told a jury: Link

New York Post

Just when Hain Celestial HAIN thought it could relax with its signature chamomile tea, an activist investor emerged: Link

ECONOMIC DATA

• Personal Spending (MoM) for May 0.10% vs 0.10% consensus estimate. Personal Income (MoM) for May 0.40% vs 0.30% consensus estimate.
• The Chicago PMI for June is schedule for release at 9:45 a.m. ET.
• The University of Michigan's consumer sentiment index for June will be released at 10:00 a.m. ET.
• The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

ANALYST RATINGS

• Raymond James upgraded Becton BDX from Outperform to Strong Buy
• Ladenburg Thalmann upgraded Oxford Lane Capital OXLC from Neutral to Buy
• Standpoint Research upgraded Symantec SYMC from Hold to Buy
• Morgan Stanley downgraded 58.com WUBA from Equal-Weight to Underweight
• Deutsche Bank downgraded Vipshop Holdings VIPS from Buy to Hold
• Janney Capital downgraded Cara Therapeutics CARA from Buy 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.