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 slightly higher in early pre-market trade. Futures for the Dow Jones Industrial Average rose 6 points
to 18,572.00, while the Standard & Poor’s 500 index futures gained 0.50 points to 2,182.50. Futures for the Nasdaq 100 index rose 1
point to 4,801.00.
The Dow, S&P and Nasdaq exchanges all closed at record highs Thursday, the first time they did that together since
December 31, 1999.
Oil prices traded lower as Brent crude futures declined 0.33 percent to trade at $45.89 per barrel, while US WTI crude futures
also fell 0.14 percent to trade at $44.17 a barrel.
USA Retail Sales (MoM) for Jul 0.00% vs 0.40% consensus estimate.
USA PPI (MoM) for Jul -0.40% vs 0.10% consensus estimate.
Data on business inventories for June will be released at 10:00 a.m. ET.
The University of Michigan's consumer sentiment index for August is schedule for release at 10:00 a.m. ET.
The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.
BZ News Desk Focus
JC Penney (NYSE: JCP) Reports Q2 Adj. EPS
$(0.05) vs $(0.15) Est., Sales $2.92B vs $2.93B Est.; Affirms FY Outlook
Nordstrom (NYSE: JWN) Reports Q2 EPS $0.67 vs
$0.56 Est., Sales $3.592B vs $3.68B Est.
Ruby Tuesday (NYSE: RT) Reports Q4 Adj. EPS
$0.10 vs. Est. $0.11, Rev. $279.3M vs. Est. $285M
UniPixel (NASDAQ: UNXL) Reports Q2 EPS
$(0.16) vs $(0.13) Est., Sales $1M vs $970K Est.
Planet Fitness (NYSE: PLNT) Reports Q2 EPS
$0.11 Up 56% YoY, Revenues $91.5M Up 15.9% YoY
Concordia (NASDAQ: CXRX) Reports Q2 GAAP
EPS $(11.18), Adj. EPS $1.38 vs $1.39 Est., Sales $231.712M vs $231.3M Est.
Sell-Side Themes
Susquehanna initiated coverage on a bunch of sports apparel names.
Alibaba (NYSE: BABA) received a couple of
upgrades following its earnings beat.
Sell-Side's Most Noteworthy Calls
Morgan Stanley downgraded SunPower (NASDAQ: SPWR) to Equal-Weight.
Brean downgraded Pernix (NASDAQ: PTX) to
Hold.
Raymond James upgraded Blackberry (NASDAQ: BBRY) to Outperform.
B. Riley upgraded Foot Locker (NYSE: FL) to
Buy.
Stifel started coverage on Mallinckrodt (NYSE: MNK) at Buy.
Deal Talk
Honeywell (NYSE: HON) reached an agreement
to sell Honeywell Technology Solutions to KBR for $300 million.
CVR (NYSE: CVI) is said to be planning to
make an offer to acquire Delek (NYSE: DK),
according to sources as reported by the NY Post. Carl Icahn owns a controlling stake in CVR and it thought to be building a stake
in Delek, the sources said.
An earlier rumor mentioned Icahn taking a large stake in Wynn Resorts (NASDAQ: WYNN), but a source familiar with the matter told Benzinga Icahn
has no interest in buying a Vegas casino.
In The News
Hillary Clinton held a speech at the Futuramic Plant in Warren, Michigan, on Thursday. However, some workers of the tool and
engineering company weren't
very excited at the prospect of the Democratic nominee winning the upcoming election.
Apple Music (NASDAQ: AAPL) has managed
to secure exclusive debut/first-week rights for three albums that ended up opening at the first spot in the Billboard 200 albums
ranking.
Education
The Pair Trade: When
intending to bet one security will outperform another, investors often will enter into a pair trade to take advantage of the
differences in performance. A pair trade is constructed when someone buys one security and shorts another with the intent to profit
off of the spread between the future price performance of both securities.
Trending
NVDA JCP M ACIA CXRX JWN NAT MG INVN INO SGI TSS PAM RDUS HD VIPS
Michael Phelps made yet more history Thursday at the Rio Games after winning his 22nd Olympic gold medal.
Did high school teach you anything? Check out what other have said. #HighSchoolTaughtMe
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.