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The Market In 5 Minutes: Facebook, Tesla In The Red As Market Preps For Apple's Latest Earnings

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The Market In 5 Minutes: Facebook, Tesla In The Red As Market Preps For Apple's Latest Earnings
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IN THE NEWS

Benzinga

Apple Inc. (NASDAQ: AAPL) investors are in for a treat, given expectations regarding a strong September quarter and the momentum around its tenth anniversary iPhone: Link

As of last week, Tesla Inc (NASDAQ: TSLA) was reportedly behind more than five energy projects powering schools, community centers and a children’s hospital in Puerto Rico: Link

Facebook Inc (NASDAQ: FB) shares reached new record highs after smashing third-quarter earnings estimates: Link

Wall Street Journal

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank: Link

The House Republican tax bill and the changes it will bring to the tax code, if it becomes law, are likely to vary across the country: Link

Reuters

Conservative activist Laura Loomer was banned from the ride-sharing services Uber and Lyft on Wednesday after unleashing an anti-Muslim tweetstorm in the wake of the New York City attack on Tuesday that killed eight people, the companies said: Link

Facebook faced harsh criticism in Washington on Wednesday over its failure to prevent Russian operatives from using its platform for election meddling, but the earnings report it issued hours later showed just how insulated its business remains from political risk: Link

Bloomberg

Royal Dutch Shell Plc (NYSE: RDS-A) has taken Exxon Mobil Corp.’s (NYSE: XOM) cash-flow crown, a year after completing the biggest deal in its history: Link

Everyone in the world can look forward to another year of healthy growth in 2018: Link

ECONOMIC DATA

  • USA Initial Jobless Claims for Oct 27 229.0K vs 235.0K Est; Continuing Claims for Oct 20 1.88M vs 1.90M Est
  • USA Nonfarm Productivity (QoQ) for Q3 3.00% vs 2.40% Est; Unit Labor Costs (QoQ) for Q3 0.50% vs 0.50% 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.
  • New York Federal Reserve Bank President William Dudley will speak in New York at 12:20 p.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.
  • Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Chicago at 6:15 p.m. ET.

ANALYST RATINGS

  • Benchmark upgraded Amedisys (NASDAQ: AMED) from Hold to Buy
  • RBC upgraded Yelp (NYSE: YELP) from Sector Perform to Outperform
  • Cowen upgraded US Steel (NYSE: X) from Underperform to Market Perform
  • BTIG downgraded Papa John's (NASDAQ: PZZA) from Buy to Neutral
  • Stifel downgraded Square (NYSE: SQ) from Buy to Hold
  • Jefferies downgraded OraSure (NASDAQ: OSUR) 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.

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

 

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