Market Overview

The Market In 5 Minutes: Nike, Micron Move On Earnings

Share:
The Market In 5 Minutes: Nike, Micron Move On Earnings
Related SPY
Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week
A Peek Into The Markets: US Stock Futures Fall, Dow Futures Down 100 Points
Weekly Commentary: Canary In The Credit Market's Coal Mine (Seeking Alpha)

IN THE NEWS

Benzinga

Investors hungry for pure-play artificial intelligence companies have sent share prices of a handful of smaller tech companies soaring in recent weeks. Here’s a look at eight stocks with an emphasis on AI that may still be mostly under-the-radar: Link

Following a two-year investigation, the Manhattan U.S. Attorney and Department of Justice are attacking a web of corruption at top-ranked basketball programs implicating NCAA coaches, team managers, financial advisers and representatives of sportswear companies: Link

Wall Street Journal

Micron's (NASDAQ: MU) strong results and outlook may have cooled fears of a peak.: Link

Florida is synonymous with oranges. They’re on the state license plate. At the product’s heyday in 1977, the state boasted 53 orange juice processing plants. Today, beset by bacteria, hurricanes and international competition, there are seven: Link

Reuters

Alabama voters elected conservative firebrand Roy Moore as the Republican nominee for a U.S. Senate seat on Tuesday, dealing a blow to President Donald Trump and other party leaders who had argued that rival Luther Strange was a better bet to advance their priorities in Washington: Link

U.S. President Donald Trump will call on Wednesday for slashing tax rates on businesses and the wealthy as part of a new tax plan that is likely to offer few details about how to pay for the cuts without expanding the federal deficit: Link

Bloomberg

Nike (NYSE: NKE) shares declined early Wednesday after the company squelched any hope of a quick turnaround at its ailing domestic operations.: Link

An ExxonMobil (NYSE: XOM) subsidiary this week said it would root out methane leaks and upgrade production technology as part of an effort to manage industrial pollution, the latest move by an energy sector that’s beginning to take matters into its own hands while the Trump administration works to roll back Obama-era climate rules: Link

ECONOMIC DATA

  • USA MBA Purchase Index (WoW) for Sep 22 231.00 vs 224.70 Prior
  • Core Durable Goods Orders (MoM) for Aug 0.20% vs 0.20% Est; Durable Goods Orders (MoM) for Aug 1.70% vs 1.00% Est
  • Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Minneapolis at 9:15 a.m. ET.
  • The pending home sales index for August is schedule for release at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
  • The Treasury will auction 5-year notes at 1:00 p.m. ET.
  • St. Louis Federal Reserve Bank President James Bullard will speak in Kirksville, Missouri at 1:30 p.m. ET.
  • Boston Federal Reserve Bank President Eric Rosengren is set to speak in New York City at 7:00 p.m. ET.

ANALYST RATINGS

  • Baird upgraded Darden Restaurants (NYSE: DRI) from Neutral to Outperform
  • Janney upgraded Chesapeake Lodging (NYSE: CHSP) from Neutral to Buy
  • Raymond James downgraded Walgreens Boots Alliance (NASDAQ: WBA) from Outperform to Market Perform
  • Morgan Stanley downgraded SunPower (NASDAQ: SPWR) 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.

Posted-In: Market in 5 minutesNews Global Top Stories Pre-Market Outlook Markets Best of Benzinga

 

Related Articles (DRI + CHSP)

View Comments and Join the Discussion!

Intel Hits A Brick Wall Ahead Of Multi-Year High

Why Walgreens Is Important For E.L.F. Beauty Products