Market Overview

The Market In 5 Minutes: Wednesday, March 9, 2016

The Market In 5 Minutes: Wednesday, March 9, 2016
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Below 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. Apply for daily AM access by clicking here or emailing

Macro Focus

The bull market is seven years old. The overwhelming majority of Benzinga readers think it won't survive 2016.

Thursday's ECB meeting is almost here. German savings banks have warned the ECB that lower rates would harm financial stability.

Jeff Gundlach tells investors the stock market has 2 percent upside but 20 percent downside.

IBIS World says solar market will grow 6.5 percent a year through 2021, sees low risk to this forecast because of "high industry assistance [from government]" and favorable semiconductor prices.

Russian energy minister says no time or place has been agreed on for a meeting between OPEC and non-OPEC nations; crude futures and energy stocks sell off.

The EIA says U.S. oil production is below what it was a year ago.

North Korea claims it has miniature nuclear weapons.

BZ Desk Focus

Ocean Rig UDW (NASDAQ: ORIG) and other drillers sell off after company misses consensus earnings expectations.

Continue to watch Lumber Liquidators (NYSE: LL) after Whitney Tilson tells Benzinga it'd take a lot for him to close his newest short position.

Source close to Oprah Winfrey Network says Oprah and ABC are not planning four-part series featuring Weight Watchers (NYSE: WTW). Stock previously spiked off rumor show was in planning stages.

Air Transport Services Group (NASDAQ: ATSG) revealed to be jet delivery contractor for Amazon (NASDAQ: AMZN); stock rises 19 percent.

Express (NYSE: EXPR) rallies after solid guidance. Results follow strong day for specialty retail peer Urban Outfitters (NASDAQ: URBN).

Darden (NYSE: DRI) climbs after Olive Garden, Longhorn Steakhouse and other same-restaurant sales guidance beats expectations.

Chipotle Mexican Grill (NYSE: CMG) investors negatively hit after four sick employees forced a Boston-area location to close.

Vivint Solar (NYSE: VSLR) confirms it's suing Sunedison (NYSE: SUNE); solar stocks spike before selling off on Wednesday morning.

Valeant (NYSE: VRX) confirms it has added three new independent board members. Pershing Square Vice Chair added.

Sell-Side Themes

Dick's Sporting Goods (NYSE: DKS) getting support from analysts. Brean [Buy], UBS [Buy], Goldman [Neutral], RBC [Sector Perform], Baird [Neutral] and Susquehanna [Positive] maintain ratings.

Analysts on the whole like FireEye (NASDAQ: FEYE) after analyst day held in New York. JMP [Market Perform], Oppenheimer [Outperform], Piper Jaffray [Overweight], Wedbush [Neutral] and Morgan Stanley [Equal-weight] all commented on shares, agreeing that 2016 will be pivotal.

Sell-Side's Most Noteworthy Calls

Detwiler Fenton says drones won't save GoPro (NASDAQ: GPRO).

Nomura hikes Wendys (NASDAQ: WEN) after good burger channel checks.

Square (NYSE: SQ) earnings could cause "confusion" immediately when they're released, JPMorgan warns.

Drexel's Brian White says the Taiwanese LCD market is getting worse.

Albert Fried's Rich Tullo says Pandora (NYSE: P) may benefit from a weakening economy because of it's free model.

Deutsche Bank downgrades Diana Shipping (NYSE: DSX) to Sell.

Frontier Communications (NASDAQ: FTR) hit with Sell at Citi after firm warns of synergy complications associated with its pending acquisition of three wireline portfolios from Verizon (NYSE: VZ).

Goldman removes Ross Stores (NASDAQ: ROST) from its Conviction Buy list.

Morgan Stanley data shows MGM China is the most efficient Macau operator.

Deal Talk

E-Commerce China Dangdang (NYSE: DANG) receives $8.80/ADS in cash acquisition proposal from iMeigu.

Hallmark says it intends to take Crown Media (NASDAQ: CRWN) private.

INRIX to acquire OpenCar, Wall Street Journal reports.

ICE reportedly lining up financing for LSE bid.

Swiss Re said to be in talks to buy Prime Reinsurance from Citi.

Notable Media Stories

Coal is losing the battle for the U.S. market badly

The China intervention trade is back

The IMF is sounding the alarm: is anyone listening?

Everything the Donald Trump infomercial was wrong about.

Don't worry about an interest rate hike.


Josh Brown's take on the 7-year bull market.

Reddit AMA on the founders of FactorWave, a company brining peer-reviewed finance research to the crowd.

Roubini asks: Are we in 2008 all over again?

Former Fed president: We injected cocaine and heroin into the system.


Cypress Semiconductor (NASDAQ: CY) shares rise after 7.1 percent stake by Three Bays Capital.

Planet Fitness (NYSE: PLNT) tanks after Spruce Point Capital says it's short the stock.

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