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The Market In 5 Minutes: Musk, Spotify, Apple-Intel, CBS-Viacom And More

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The Market In 5 Minutes: Musk, Spotify, Apple-Intel, CBS-Viacom And More

IN THE NEWS

After snapping a nine-quarter winning streak in the first quarter of 2018, U.S. stocks stumbled out of the gate in the second quarter on Monday: Link

April is here, and if past precedent holds true to form, that could be good news for investors who are long U.S. stocks. Over the past 20 years, the S&P 500 averaged an April gain of 1.8 percent while finishing higher 75 percent of the time.: Link

Sumner Redstone has overwhelming voting control of CBS Corporation (NYSE: CBS) and Viacom Inc. (NASDAQ: VIAB) And yet, he won’t have the final say over whether the companies merge: Link $

The Environmental Protection Agency moved to ease Obama-era vehicle emissions standards, siding with car makers who say the rules don’t work in an era of cheap gasoline, and setting up a fight with environmentalists and the state of California: Link $

Spotify Technology’s (NYSE: SPOT) unusual route to becoming a public company is a test case for other multibillion-dollar tech companies that are looking to sell their shares but are not in need of cash: Link

Apple Inc. (NASDAQ: AAPL) is planning to use its own chips in Mac computers beginning as early as 2020, replacing processors from Intel Corporation (NASDAQ: INTC), according to people familiar with the plans: Link

Elon Musk has reportedly taken over production of Tesla’s (NASDAQ: TSLA) troubled Model 3 following reports that the electric car maker will miss first-quarter production goals for its flagship vehicle: Link

ECONOMIC DATA

  • Data on motor vehicle sales for March will be released today.
  • Redbook Reports US Retail Sales During First 4 Weeks Of Mar. Up 0.4% MoM, Up 3.5% YoY
  • Minneapolis Federal Reserve Bank President Neel Kashkari is set to speak in Duluth, Minnesota at 9:30 a.m. ET.
  • The Treasury is set to auction 4-week bills at 11:30 a.m. ET.

ANALYST RATINGS

  • Citi upgraded U.S. Steel (NYSE: X) from Hold to Buy
  • Stifel upgraded ArcBest (NASDAQ: ARCB) from Sell to Hold
  • Stifel downgraded Constellation Brands (NYSE: STZ) from Buy to Hold
  • Barclays downgraded ManpowerGroup (NYSE: MAN) from Equal-Weight 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.

 

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