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minutes@benzinga.com.
Macro Focus
U.S. stock futures traded slightly lower in early pre-market trade. Futures for the Dow Jones Industrial Average dropped 3
points to 17,816.00, while the Standard & Poor’s 500 index futures fell 1.40 points to 2,088.80. Futures for the Nasdaq 100 index
declined 4.50 points to 4,404.00.
The eurozone's jobless rate declined to 10.1 percent in May, versus 10.2 percent. Japanese consumer prices dropped 0.4 percent
year-over-year in May, while China's official manufacturing PMI dropped to 50.0 in June, compared to 50.1 a month ago.
Oil prices traded lower as Brent crude futures declined 0.60 percent to trade at $49.38 per barrel, while US WTI crude futures
also fell 0.54 percent to trade at $48.04 a barrel.
U.S. stock markets will be closed Monday for the Independence Day holiday.
BZ News Desk Focus
Some of last night's and this morning's notable earnings:
8-K from Micron (NASDAQ: MU) Shows Q3 EPS
$(0.21), Sales $2.9B vs $2.96B Est.
Franklin Covey (NYSE: FC) Reports Q3 EPS
$(0.07) vs $0.08 Est., Sales $44.7M vs $49.8M Est.
Sell-Side's Most Noteworthy Calls
Credit Suisse downgraded SolarCity (NASDAQ: SCTY) to Neutral.
Evercore downgraded Qualcomm (NASDAQ: QCOM)
to Hold.
Wedbush upgraded Square (NYSE: SQ) to Neutral.
Citi upgraded Genesis Energy (NYSE: GEL) to
Buy.
Canaccord initiated coverage of Netflix (NASDAQ: NFLX) at Buy.
Stifel started Aldeyra Therapeutics (NASDAQ: ALDX) at Buy.
Deal Talk
Sources told Benzinga FireEye (NASDAQ: FEYE) has multiple bidders and said discussions are ongoing.
Hershey (NYSE: HSY) on Thursday rejected a
$23 billion takeover bid by Mondelez (NASDAQ: MDLZ) that would seek to expand the latter's limited U.S. footprint and create the
world's largest confectioner.
Apple (NASDAQ: AAPL) is in talks to
acquire Tidal, a streaming-music service run by rap mogul Jay Z, people familiar with the matter told Wall Street Journal. Apple is
exploring the idea of bringing on Tidal to bolster its Apple Music service because of Tidal’s strong ties to popular artists such
as Kanye West and Madonna.
In The News
Three members of a major cocaine trafficking ring that used Duane Reade stores to conduct sales over the past year were indicted
Thursday in a takedown that also included 18 customers. Chipotle's (NYSE: CMG) chief creative and development officer Mark Crumpacker was among the name
indicted.
U.S. auto-safety regulators are investigating what is believed to be the first fatal crash involving a Tesla
(NASDAQ: TSLA) car that was driving itself, an incident that
is likely to ratchet up scrutiny of a technology that has been evolving with little oversight.
New Jersey Gov. Chris Christie and former House Speaker Newt Gingrich are among the finalists to be Donald Trump's running mate,
sources confirmed to CNN. Christie has received the official paperwork for the vetting process, according to a source with
knowledge of events. Gingrich is being "seriously considered" for the job, a Trump adviser said.
Blogosphere
Check out this
thread: Why did the media cover the 2-day Brexit stock fallout like crazy but has been silent today as the market has made an
almost full dramatic recover in 3 days.
Trending
AVXL MU TLT MBLY TSLA CMG TSRO AZN SLV HSY NFLX [StockTwits]
Many are celebrating #CanadaDay, while others are describing #AmericaIn4Words.
Let us be lovers, We'll marry our fortunes together.
I've got some real estate here in my bag.
So we bought a pack of cigarettes, and Mrs. Wagner's pies,
And walked off to look for America.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.