Market Overview

The Market In 5 Minutes

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The Market In 5 Minutes

IN THE NEWS

Benzinga

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) shares plunged nearly 5 percent Thursday on news that it was under investigation by the U.S. Department of Health and Human Services’ Office of Inspector General: Link

The launch of the Model 3 heralds not only a new era for Tesla Inc (NASDAQ: TSLA), it hastens a new world for the rest of us ━ a paradigm shift as disruptive as that led by Apple Inc. (NASDAQ: AAPL): Link

QUALCOMM, Inc. (NASDAQ: QCOM) shares briefly spiked in Thursday after-hours trading on news that the firm filed patent infringement complaints against Apple Inc. with the U.S. International Trade Commission.: Link

Wall Street Journal

In a bid to broaden the nationalist vision he has long embraced, President Donald Trump on Thursday described the West as locked in a struggle it could lose unless it can “summon the courage” to see it through: Link

Easy Wall Street cash is leading American shale companies to expand drilling even as most lose money on every barrel of oil they bring to the surface: Link

Reuters

U.S. Interior Secretary Ryan Zinke on Thursday signed an order to hold more lease sales and to speed up approving permits to explore for oil and gas on federal land, a process he said got bogged down under former President Barack Obama: Link

Registrations of Tesla vehicles in California, by far the largest market of the luxury electric car maker, fell 24 percent in April from a year ago, according to data from IHS Markit: Link

Bloomberg

For the past two years, nearly the entire time that Illinois Governor Bruce Rauner has been in office, his state was locked in a political paralysis that battered its universities, left contractors waiting to be paid and undermined its standing on Wall Street: Link

Hackers working for a foreign government recently breached at least a dozen U.S. power plants, including the Wolf Creek nuclear facility in Kansas, according to current and former U.S. officials, sparking concerns the attackers were searching for vulnerabilities in the electrical grid: Link

New York Post

Bruce Springsteen is shifting his entire global publishing business to Universal Music Publishing Group, the Post has learned exclusively: Link

ECONOMIC DATA

  • Nonfarm Payrolls for Jun 222.0K vs 179.0K est.; Private Payrolls for Jun 187.0K vs 172.0K est.
  • Unemployment Rate for Jun 4.40% vs 4.30% est.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
  • The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

ANALYST RATINGS

  • Baird upgraded Quintiles IMS (NYSE: Q) from Underperform to Neutral
  • Jefferies upgraded Advanced Auto Parts (NYSE: AAP) from Hold to Buy
  • Keybanc downgraded Globant S.A. (NYSE: GLOB) from Overweight to Sector Weight
  • Credit Suisse downgraded Taho Resources (NYSE: TAHO) from Outperform to Neutral
  • Wells Fargo downgraded Helmerich & Payne (NYSE: HP) from Market Perform to Underperform

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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