The Market In 5 Minutes: Trump To End Key ACA Subsidies, McGowan Speaks Out, Amazon Studio Exec Suspended

IN THE NEWS

Benzinga

Twitter Inc TWTR reversed a temporary suspension on actress Rose McGowan’s account Thursday after fielding backlash for censoring a voice decrying sexual harassment: Link

It’s hard to imagine that Ulta Beauty Inc ULTA stock was trading above $314 per share less than five months ago. Ulta shares dipped as low as $189.50 on Thursday morning after analysts at Cleveland Research downgraded the stock from Buy to Neutral and said Ulta stock still isn’t cheap considering the challenging environment it is facing in the retail space: Link

A day after calling out Helios and Matheson Analytics Inc HMNY following its massive run, Citron Research has covered its short position: Link

Wall Street Journal

The Trump administration will end billions of dollars in payments to insurers under the Affordable Care Act program, but President Donald Trump has privately told at least one lawmaker that the payments may continue if a bipartisan deal is reached on heath care, according to people familiar with the matter on Capitol Hill and in the health-care industry: Link

Outcome, a tech startup valued at $5.5 billion, misled advertisers with manipulated information according to WSJ sources: Link

Amazon.com Inc. AMZN has suspended the head of its entertainment studio, Roy Price, in the wake of allegations of mismanagement and sexual harassment and criticism of his close business relationship with movie producer Harvey Weinstein: Link

Reuters

Uber submitted a court appeal on Friday to overturn a decision by London’s transport regulator that stripped the taxi app of its operating license in one of its most important markets: Link

Toshiba Corp said it is discussing joint investment in a new chip production line with Western Digital Corp WDC- its estranged business partner after the Japanese firm chose a different suitor to buy its $18 billion semiconductor business: Link

Bloomberg

House Republicans agree with President Donald Trump that they want to cut taxes for the middle class, but who fits that definition is where the consensus stops: Link

By many measures, digital currencies are as strong as ever. Bitcoin prices, up more than 400 percent this year, eclipsed $5,000 on Thursday. While Bitcoin is far and away the largest cryptocurrency, 11 other coins have a market cap in excess of $1 billion, reflecting increasingly diverse trading options: Link

ECONOMIC DATA

• USA CPI (MoM) for Sep 0.50% vs 0.60% Est; USA Core CPI (MoM) for Sep 0.10% vs 0.20% Est; Prior 0.20%
• Retail Sales (MoM) for Sep 1.60% vs 1.70% Est; Core Retail Sales (MoM) for Sep 1.00% vs 0.30% Est;
• Boston Federal Reserve Bank President Eric Rosengren is set to speak in Boston at 8:30 a.m. ET.
• Data on business inventories for August will be released at 10:00 a.m. ET.
• The University of Michigan's consumer sentiment index for October is schedule for release at 10:00 a.m. ET.
• Chicago Federal Reserve Bank President Charles Evans will speak in Green Bay, Wisconsin at 10:25 a.m. ET.
• Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Boston at 11:30 a.m. ET.
• The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
• Federal Reserve Governor Jerome Powell will speak in Boston at 1:00 p.m. ET.

ANALYST RATINGS

• Barclays upgraded General Motors GM from Equal-Weight to Overweight
• Barclays upgraded Genesis Energy GEL from Equal-Weight to Overweight
• Barclays downgraded Ford F from Overweight to Equal-Weight
• Keybanc downgraded HubSpot HUBS from Overweight to Sector Weight
• Jefferies downgraded AcelRX Pharmaceuticals ACRX from Buy to Hold

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.