IN THE NEWS
BENZINGA
Power Solutions International Inc (NASDAQ: PSIX) shares plunged as much as 30 percent Tuesday on a report the company would be
delisting from Nasdaq:
Link
Health insurance companies are meeting with CMS Administrator Seema Verma today to try to determine if President Donald Trump
intends to pull $7 billion in funding from companies that sell plans on Affordable Care Act exchanges:
Link
THE WALL STREET JOURNAL
President Donald Trump’s expected choice to be vice chairman at the Federal Reserve has called for setting interest rates using
a formula, setting up a clash with current officials who have warned such an approach could undermine the central bank’s
effectiveness:
Link
The Navy confirmed Tuesday that it didn’t send one of its aircraft carriers directly toward North Korea amid growing tensions
with Pyongyang, despite representations by President Donald Trump and his top defense advisers that it was on its way:
Link
REUTERS
U.S. President Donald Trump is "absolutely not" trying to talk down the strength of the dollar, Treasury Secretary Steven
Mnuchin was quoted as saying in the Financial Times on Wednesday:
Link
BlackRock Inc (NYSE: BLK), the world's
biggest asset manager, reported a 31 percent rise in quarterly profit helped by higher investment advisory fees and securities
lending revenue:
Link
OPEC Secretary-General Mohammad Barkindo said on Wednesday that all oil producers taking part in a supply-cut pact are committed
to bringing global inventories down to the industry's five year average and restoring stability to the market:
Link
BLOOMBERG
As a European ban on bundling research with brokerage services looms, banks are sounding out asset managers and hedge funds on
what they’d be prepared to pay:
Link
Millennial shoppers are reaching their prime spending years, and Generation Z isn’t far behind. That has brands scrambling to
curry favor with young consumers:
Link
THE NEW YORK TIMES
Facebook (NASDAQ: FB) barged into
Snap Inc (NYSE: SNAP)'s happy Venice Beach,
Calif., mansion, took a solid inventory of the goods, then lifted the crown jewels:
Link
ECONOMIC DATA
- The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
- The Energy Information Administration’s weekly report on petroleum inventories is schedule for release at 10:30 a.m. ET.
- Boston Federal Reserve Bank President Eric Rosengren is set to speak in Annandale-on-Hudson, N.Y. at 12:30 p.m. ET.
- The Federal Open Market Committee will release its latest Beige Book report at 2:00 p.m. ET.
ANALYST RATINGS
- Credit Suisse upgraded Coca-Cola (NYSE: KO) to Outperform
- Citigroup upgraded Goldman Sachs (NYSE: GS) to Neutral
- Barclays upgraded HP (NYSE: HPQ) to
Overweight
- Morgan Stanley downgraded Sirius XM (NASDAQ: SIRI) to Underweight
- Credit Suisse downgraded Grainger (NYSE: GWW) to Underperform
- Morgan Stanley downgraded Energizer (NYSE:
ENR) to Equal-Weight
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