The Market In 5 Minutes: Sprint And T-Mobile, Saudi Arabia, Twitter Upgrade

IN THE NEWS

Benzinga

T-Mobile TMUS and Sprint S jointly announced Saturday that they have ceased talks to merge as the companies were unable to find mutually agreeable terms: Link

Papa John’s Int’l, Inc. PZZA attributed its mid-season sales slump to an alleged bad call — one that allowed controversial anthem protests to cripple NFL viewership and corresponding pizza deliveries: Link

Blockchain — the technology used to record and store transaction in cryptocurrencies such as bitcoin — could get a dedicated exchange traded fund. Amplify ETFs has filed plans to introduce the Amplify Blockchain Leaders ETF: Link

Wall Street Journal

A sweeping weekend roundup of more than five dozen princes, ministers and prominent businessmen in Saudi Arabia marks a dramatic escalation in the crown prince’s effort to consolidate power and accelerate far-reaching change in the kingdom: Link

President Donald Trump pushed for Japan to buy “massive” amounts of military equipment from the U.S., saying that it would help the country shoot down missiles like the pair that nearby North Korea has fired overhead in recent months: Link

Reuters

Indonesia on Monday vowed to block Facebook Inc’s FB WhatsApp Messenger within 48 hours if the service did not ensure that obscene Graphics Interchange Format (GIF) images were removed: Link

Bloomberg

The House tax-writing committee begins debate Monday on the GOP’s proposed overhaul, kicking off four frantic days for lobbyists and lawmakers to revise a bill that represents President Trump’s final hope for a signature legislative achievement this year: Link

A Russian lawyer who met with President Trump’s oldest son last year says he indicated that a law targeting Russia could be re-examined if his father won the election and asked her for written evidence that illegal proceeds went to Hillary Clinton’s campaign: Link

ECONOMIC DATA

• The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
• New York Federal Reserve Bank President William Dudley will speak in New York at 12:10 p.m. ET.
• The TD Ameritrade Investor Movement Index for October is schedule for release at 12:30 p.m. ET.

ANALYST RATINGS

• Citi upgraded Twitter TWTR from Sell to Neutral
• Raymond James upgraded Nutanix NTNX from Market Perform to Outperform
• Wells Fargo upgraded Hyatt Hotels H from Market Perform to Outperform
• Wells Fargo downgraded Hilton Worldwide Holdings HLT from Outperform to Market Perform
• KeyBanc downgraded Sprint from Sector Weigh 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.