The Market In 5 Minutes: Shopify, Equifax And More

IN THE NEWS

Benzinga

Citron Research Managing Editor Andrew Left takes on a new target: Shopify SHOP: Link

Equifax Inc. EFX has endured one of the worst months imaginable. Yet surprisingly, the stock’s share price is holding up relatively well considering the non-stop waves of negative headlines hitting the company: Link

Wall Street Journal

Large U.S. companies have for years sought to tie executive pay to financial and stock-market results, but a new study suggests their efforts aren’t working over the long term: Link

American shale drillers, which defied expectations and upended traditional oil markets by increasing production in the face of lower prices, are finally showing signs of slowing down: Link

Reuters

In the middle of Whirlpool Corp WHR’s bustling washer factory in northern Ohio there is an empty patch of concrete floor - a reminder of a $60 million expansion plan the appliance maker says fell victim to unfair foreign competition: Link

Alphabet Inc’s Google GOOGL on Wednesday unveiled the second generation of its Pixel smartphone along with new voice-enabled home speakers, redoubling its commitment to the hardware business as it competes with a surge of devices from Apple Inc AAPL and Amazon.com Inc AMZN: Link

Bloomberg

Here’s a look at the candidates President Donald Trump is considering over the next few weeks to nominate as chairman of the Federal Reserve and where they stand on monetary policy: Link

Puerto Rico faces a government shutdown on Oct. 31, including halting its hurricane recovery, if Congress doesn’t provide billions in emergency funds, said Treasury Secretary Raul Maldonado: Link

ECONOMIC DATA

• USA Challenger Job Cuts for Sep 32.30K vs 33.80K Prior
• US August trade deficit $42.4 billion vs $42.7 billion est.
• Initial Jobless Claims for Sep 29 260.0K vs 265.0K Est; Continuing Claims for Sep 22 1.94M vs 1.95M Est
• Data on factory orders for August will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
• Kansas City Federal Reserve Bank President Esther George will speak in Austin at 4:30 p.m. ET.
• Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

• Canaccord upgraded Microsoft MSFT from Hold to Buy
• Morgan Stanley upgraded Biogen BIIB from Equal-Weight to Overweight
• Baird upgraded UDR UDR from Neutral to Outperform
• Oppenheimer downgraded Carmax KMX from Outperform to Perform
• Stifel downgraded Momenta Pharmaceuticals MNTA from Buy to Hold
• Morgan Stanley downgraded Celgene CELG 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.