IN THE NEWS
Longfin Corp LFIN’s run in the Russell 2000 Index came to an abrupt and unexpected end this week, sending shares plummeting and investors wondering what actually happened. Adding to the curious nature of Longfin’s short-lived run in the Russell index is the timing of a couple of key documents related to the move: Link
In 2018, it couldn’t be more true that online brokerages work hard to make trading approachable, even for the average Joe. Both new and experienced traders expect a seamless trading experience between their desktop, mobile, tablet, and even smartwatch applications: Link
Global stocks deepened their decline Wednesday as technology shares continued to slide on concerns about increased regulatory oversight of the sector: Link $
Dozens of iPhone owners are taking Apple Inc. AAPL to court over the company’s disclosure that it slowed down old phones to preserve battery life, in what could become one of the biggest legal challenges to the smartphone since its 2007 debut: Link $
A fatal crash and vehicle fire of a Tesla Inc TSLA Model X near Mountain View, California, last week has prompted a federal field investigation, the U.S. National Transportation Safety Board said on Tuesday, sparking a big selloff in Tesla stock: Link
A growing number of internet companies are banning cryptocurrency advertising, fearing reputational damage if their users are duped or left penniless, even as regulators struggle to get to grips with the fast-emerging industry: Link
Takeda Pharmaceutical Co. said it’s considering an approach for Shire Plc SHPG that would boost its position in drugs for cancer, gastrointestinal diseases and nervous-system ailments: Link
ECONOMIC DATA
- USA GDP (QoQ) for Q4 2.90% vs 2.70% Est; Prior 2.50%
- US MBA mortgage applications w.e. 23 March 4.8% vs -1.1% prior
- The pending home sales index for February is schedule for release at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
- Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta at 11:30 a.m. ET.
- The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
- Data on farm prices for February will be released at 3:00 p.m. ET.
ANALYST RATINGS
- KeyBanc upgraded Catalent CTLT from Sector Weight to Overweight
- Stifel downgraded Tallgrass Energy Partners TEP from Buy to Hold
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