Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in
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Macro Focus
Futures for the Dow Jones Industrial Average rose 15 points to 18,171.00, while the Standard & Poor’s 500 index futures gained 1
point to 2,154.00. Futures for the Nasdaq 100 index rose 6.25 points to 4,871.50.
Oil prices traded lower as Brent crude futures declined 0.75 percent to trade at $50.51 per barrel, while US WTI crude futures
also fell 0.94 percent to trade at $48.35 a barrel.
The pound fell to a three-decade low against the
dollar, trading below the levels it hit after Britain voted to leave the European Union in June. The currency has been under
pressure since UK Prime Minister Theresa May provided some clarity over a Brexit timeline. However, there was also a lack of
clarity regarding what the British economy would look like when it separates itself from the European Union.
- The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
- The Treasury is set to auction 4-week bills at 11:30 a.m. ET.
- Chicago Federal Reserve Bank President Charles Evans will speak in Auckland, New Zealand at 8:00 p.m. ET.
BZ News Desk Focus
-
Darden Restaurants (NYSE: DRI) Q1 EPS
$0.88, Revenue $1.71B vs. $1.54B est.; Raises FY Guidance From $3.80-$3.90 to $3.87-$3.97
-
Monotype (NASDAQ: TYPE) Sees FY16
Revenue Of $214.5M - $222.5M vs $205.01M Est, Cuts non-GAAP EPS To $0.85-$0.96 From $1.05-$1.13 Prior, vs $1.07 Est
Alphabet (NASDAQ: GOOGL) (NASDAQ:
GOOG) is expected to
unveil a variety of new devices on Tuesday, designed drive usage of and showcase the company’s best-in-class software services.
According
to Recode, the "most strategically important product" that will be shown is Google Home, an Amazon Echo competitor.
Sell-Side Themes
HubSpot (NYSE: HUBS) received a pair of
upgrades from Goldman Sachs and DA Davidson.
Brean assumed coverage of several biopharma stocks, putting Buy ratings on Alexion (NASDAQ: ALXN) and Celldex (NASDAQ: CLDX), among others.
Sell-Side's Most Noteworthy Calls
- Raymond James downgraded Wells Fargo (NYSE:
WFC) to Underperform.
- Mizuho downgraded Depomed (NASDAQ: DEPO) to Neutral.
- Guggenheim downgraded Splunk (NASDAQ: SPLK) to Neutral.
- Bank of America upgraded Las Vegas Sands (NYSE: LVS) to Buy.
- Morgan Stanley upgraded Plains All American (NYSE: PAA) to Overweight.
- Wells Fargo upgraded CBOE Holdings (NASDAQ: CBOE) to Outperform.
- Argus started United Rentals (NYSE: URI)
at Buy.
Deal Talk
Criteo (NASDAQ: CRTO) announced it has
signed a definitive agreement to acquire HookLogic. The acquisition of HookLogic and its leading advertising exchange for brands
will strengthen Criteo's performance marketing platform.
Twitter (NYSE: TWTR) is nowhere near fully
valued in the market, and a buyout at a price less than $35 per share may not be in the company’s
best interest, according to the Tech Stock Strategist.
In The News
There are a lot more apartments available for purchase these days in Manhattan. And fewer people are buying. Sales of previously
owned condominiums and co-ops fell 20 percent in Q3 from a year earlier as potential buyers grew cautious amid more choices,
Virginia Democratic Sen. Tim Kaine and Indiana Republican Gov. Mike Pence are two mild-mannered politicians who will certainly
present themselves differently than their running mates. Moderator Elaine Quijano of CBS News will try to engage them in their only
debate, but their sparring is likely to revolve as much around the principal candidates as around the vice presidential contenders
themselves. Tonight's
debate starts at 9 p.m. ET on CBS.
Blogosphere
Ericsson (NASDAQ: ERIC) plans to
eliminate 3,000 jobs in Sweden as the maker of telecommunications equipment belatedly tries to reduce costs. These charts show the horrible scale of
Ericsson's problem.
Trending
MU ARLZ GOOG NFLX NTNX DRI DUST JDST LVS ERIC UUP GLD
Julian Assange and #Wikileaks have promised promised "significant" disclosures on subjects including the U.S. election and
Google in the coming weeks as the secret-spilling group marked its 10th anniversary on Tuesday. Maybe some #TrumpFinancialTips will
be included?
- Shares rallied Wednesday morning on unconfirmed chatter that this company is going private.
- This stock hit an all-time high of $74.50 in May 1998.
- Sympathy plays include Bridgestone and Cooper Tire & Rubber.
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