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The Market In 5 Minutes: Broadcom's Huge Proposal, Paradise Papers, Bitcoin Asset Class

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The Market In 5 Minutes: Broadcom's Huge Proposal, Paradise Papers, Bitcoin Asset Class

IN THE NEWS

Benzinga

Broadcom Ltd (NASDAQ: AVGO)'s proposed acquisition of QUALCOMM, Inc. (NASDAQ: QCOM) is nothing short of an "impressive financial engineering masterpiece," KeyBanc Capital Markets' John Vinh said in a Sunday note: Link

Apple Inc. (NASDAQ: AAPL), Nike Inc (NYSE: NKE), and Uber were among nearly 100 multinational corporations exposed Monday to have developed shell companies and offshore accounts in alleged tax avoidance schemes: Link

Wall Street Journal

In a pointed message ahead of Donald Trump’s first presidential swing through Asia, a Chinese shipyard launched the region’s largest dredger: Link

Help Wanted: A senior executive with a keen knowledge of markets and economics, but who isn’t too close to Wall Street because he or she will be responsible for regulating some of the world’s biggest banks: Link

Reuters

The owners of Avast Software, one of the world’s most used pieces of computer antivirus software, have hired Rothschild to prepare the business for an initial public offering (IPO) which could value the firm at as much as $4 billion, four sources familiar with the matter told Reuters: Link

Bitcoin is likely to become a new asset class in its own right, such as gold or stocks, which can be traded by major investors and regulated, not simply a crypto-currency, Leo Melamed, Chairman Emeritus of CME Group (NASDAQ: CME), said on Tuesday: Link

Bloomberg

Forget secular stagnation. One historian says the world is actually in its ninth “real rate depression” and 700 years of data show that – when it comes – the turnaround could be sudden: Link

As Donald Trump’s longtime bodyguard, Keith Schiller had a front row seat to key moments of Trump’s presidency, campaign and rise as a reality TV star. Now, Schiller is being asked to divulge sensitive information he learned about the president to congressional investigators: Link

ECONOMIC DATA

  • Redbook Reports US Retail Sales During First Week Of Nov. Down 1% MoM, Up 2.6% YoY
  • The Labor Department's JOLTS report for September is schedule for release at 10:00 a.m. ET.
  • The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.
  • The Treasury will auction 3-year notes at 1:00 p.m. ET.
  • Federal Reserve Chair Janet Yellen is set to speak in Washington at 3:00 p.m. ET.
  • Data on consumer credit for September will be released at 3:00 p.m. ET.

ANALYST RATINGS

  • Barclays upgraded WPX Energy (NYSE: WPX) from Equal-Weight to Overweight
  • Citi upgraded trivago (NASDAQ: TRVG) from Neutral to Buy
  • Goldman upgraded Altice USA (NYSE: ATUS) from Neutral to Buy
  • Barclays downgraded QEP Resources (NYSE: QEP) from Overweight to Equal-Weight
  • Goldman downgraded Finisar (NASDAQ: FNSR) from Buy to Neutral

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.

 

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