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The Market In 5 Minutes: Shkreli, Gun Stocks And 'Flash Boys'

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The Market In 5 Minutes: Shkreli, Gun Stocks And 'Flash Boys'

IN THE NEWS

Both Sturm Ruger & Company (NYSE: RGR) and American Outdoor Brands (NASDAQ: AOBC) were on the rise Monday after the FBI reported month-over-month and year-over-year increases in February firearm background checks: Link

7 biotech stocks with clinical trial outcomes In March: Link

Four financial companies including Citigroup (NYSE: C) and online lender Kabbage said Tuesday they have formed a consortium to address fintech firms’ cybersecurity risks, a sign of the industry’s growing links to traditional banks and insurers: Link $

Former drug company executive Martin Shkreli may have to give up a Picasso and a one-of-a-kind Wu-Tang Clan album, after a U.S. judge on Monday ordered him to forfeit $7.36 million following his conviction of defrauding investors: Link

Goldman Sachs delivered a comprehensive critique of Donald Trump’s planned metal tariffs, saying they risk damaging the world’s biggest economy by raising costs just as price pressures build, hurting allies more than others, and creating a two-tier global market: Link

Federal regulators could gain more power to crack down on highly-secretive "Flash Boy" traders that use complex — and secretive — algorithms to buy and sell securities, according to a little-noticed provision in an otherwise deregulatory banking bill that could go to a vote on Tuesday: Link

ECONOMIC DATA

  • Redbook Reports US Retail Sales During Feb. Down 0.5% MoM, Up 3.4% YoY
  • Data on factory orders for January will be released at 10:00 a.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
  • Federal Reserve Governor Lael Brainard will speak in New York City at 7:00 p.m. ET.
  • Dallas Federal Reserve Bank President Robert Kaplan is set to speak in Houston at 8:30 p.m. ET.

ANALYST RATINGS

  • Morgan Stanley Upgrades Mylan (NASDAQ: MYL) to Overweight, Raises Price Target to $50
  • Stifel Nicolaus Upgrades United Parcel Service (NYSE: UPS) to Buy, Announces $121 Price Target
  • Stifel Nicolaus Downgrades Spectra Energy Partners (NYSE: SEP) to Hold, Lowers Price Target to $41

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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