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 email
minutes@benzinga.com.
Macro Focus
U.S. stock futures traded higher in early pre-market trade. Futures for the Dow Jones Industrial Average climbed 19 points to
18,480.00, while the Standard & Poor’s 500 index futures gained 2 points to 2,177.25. Futures for the Nasdaq 100 index rose 6
points to 4,785.25.
Oil prices traded higher as Brent crude futures gained 0.37 percent to trade at $45.56 per barrel, while US WTI crude futures
also rose 0.51 percent to trade at $43.24 a barrel.
Data on wholesale inventories for June will be released at 10:00 a.m. ET.
The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
The Treasury will auction 3-year notes at 1:00 p.m. ET.
BZ News Desk Focus
Valeant (NYSE: VRX) Q2 EPS $1.40 vs $1.48
est, Revenue $2.4B vs $2.5B est.; Reaffirms FY 2016 Revenue and EPS Guidance
Vivint Solar (NYSE: VSLR) Reports Q2 EPS
$(0.49) vs. Est. $(0.58), Rev. $34.9M vs. Est. $24.9M
LendingClub (NYSE: LC) Reports Q2 Loss -$0.09
vs Est Loss -$0.02, Rev $102.4M vs $100.51M Est.
Rackspace (NYSE: RAX) Reports Q2 EPS $0.28 vs
$0.22 Est., Sales $523.6M vs $521.2M Est.
Twilio (NYSE: TWLO) Reports Q2 EPS $(0.08)
vs. Prior Year Quarter $0.11, Rev. $64.5M vs. Prior Year Quarter $37.9M
Coach (NYSE: COH) Q4 EPS $0.45 vs $0.41 est,
Revenue $1.14B vs $1.17B est
Sell-Side Themes
Jefferies initiated coverage on the auto companies, with Fiat Chrysler (NYSE: FCAU) receiving the only Buy ratings.
Morgan Stanley started coverage on a few gold stocks, all with Equal-Weight ratings.
Sell-Side's Most Noteworthy Calls
Citi downgraded Apache (NYSE: APA) to
Neutral.
Imperial downgraded FireEye (NASDAQ: FEYE)
to In-lIne.
Mizuho upgraded Gap (NYSE: GPS) to Neutral.
Piper Jaffray upgraded Chevron (NYSE: CVX) to
Overweight.
Loop Capital started coverage of The Madison Square Garden Company (NYSE: MSG) at Buy and MSG Networks (NYSE: MSGN) at Hold.
Deal Talk
BP (NYSE: BP) is seeking buyers for its 50
percent stake in Chinese petrochemicals joint venture SECCO, its largest investment in China, in a deal Reuters sources said could
fetch $2-$3 billion. State-owned China Petroleum & Chemical Corp (Sinopec), which owns the other half of the venture and has a
right of first refusal, said it was discussing the conditions put forward by BP, but has made no decision.
Massages at the airport? New York-based Airport Spa Company XpresSpa is making this a reality to the relief of travelers
everywhere. The company announced it has been acquired by Form Holdings Corp (NASDAQ: FH). The deal worth a reported $40 million is roughly equal to XpresSpa's annual
revenue. XspresSpa operates 47 locations in 20 U.S. airports, and the company is aiming for 120 locations nationwide.
In The News
Delta Air Lines (NYSE: DAL) said it was
cancelling nearly 250 flights on Tuesday as it looks to restore operations after a power outage hit its computer systems on Monday,
causing the cancellation of about 1,000 flights.
Donald Trump worked Monday
to refocus his presidential campaign and reassure concerned Republicans, using a Detroit Economic Club luncheon to tout a series of
conservative proposals to cut taxes, freeze new business regulations and lift energy industry restrictions imposed by the Obama
administration.
Blogosphere
From
Gadfly: "Uber found out what many other U.S. tech companies realized long ago: China is an alluring trap. Most American web
companies including Google, Facebook and Amazon are either banned from China or have flopped there. And their odds of success are
only getting slimmer."
Trending
VRX DIS COH YELP OPK ACAD ENDP LNG GPS CHTR W NVRO RARE OCUL
The United States has claimed every gold medal in the men’s 100-meter backstroke since Canada’s Mark Tewksbury touched the wall
six-hundredths of a second before the American Jeff Rouse in 1992. Ryan Murphy, a first-time Olympian, kept the streak intact
Monday.
Japan returned to the top of the men’s gymnastics world, beating Russia and China in the team event. The event was a renewal of
the longtime gymnastics rivalry between Japan and China. China had won the last two gold medals, in 2008 and 2012.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.