IN THE NEWS
BENZINGA
After a four-year hiatus to co-found and lead Jelly Industries, Inc., another member of Twitter Inc (NYSE:
TWTR)’s co-founding team -- Biz Stone -- is coming home:
Link
Large commercial and investment banks like JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corp (NYSE: BAC), Morgan Stanley (NYSE: MS) or Citigroup Inc (NYSE: C) are keeping their hands off the cannabis industry for the time being: Link
Target (NYSE: TGT), the second-largest
discount retailer in the U.S., earned $1.21 per share in the first quarter on revenue of $16.02 billion; Analysts were expecting
the company to earn $0.91 per share on revenue of $15.62 billion: Link
According to reports from Fudzilla, a website focused on IT news, Intel (NASDAQ: INTC) may have opted to sign a new licensing deal with NVIDIA
(NASDAQ: NVDA) rival Advanced Micro Devices,
Inc. (NASDAQ: AMD) instead: Link
THE WALL STREET JOURNAL
The latest revelation to buffet the White House—that President Donald Trump allegedly asked then-FBI Director James Comey to
drop a probe of his former national security adviser—has prompted some congressional Republicans to call for further investigation:
Link
The Securities and Exchange Commission will reconsider its initial approval of a risky, first-of-its-kind exchange-traded fund
that promises four times the daily price moves of S&P 500 futures contracts, according to people familiar with the matter:
Link
REUTERS
Chinese state media on Wednesday criticized the United States for hindering efforts to stop global cyber threats in the wake of
the WannaCry "ransomware" attack that has infected more than 300,000 computers worldwide in recent days:
Link
U.S. Homeland Security chief John Kelly has not made a final decision on extending a ban on larger electronic devices on
airplanes, but the department still believes an expansion is likely, a spokesman said on Tuesday:
Link
BLOOMBERG
Mark Mobius, the executive chairman of Templeton Emerging Markets Group, reckons he's identified a surprising culprit for the
slump in volatility currently afflicting financial markets -- the rise of social media:
Link
There are plenty of fundamental reasons behind diminished volatility in the S&P 500 index that the VIX is tied to --
including still-ultra-low interest rates at a time of solid economic growth. But the technical factors flagged by Deutsche Bank
have the potential to maintain or upset a delicate balancing act at the back-end of markets:
Link
NY POST
Last year was brutal for hedge fund investors — but you wouldn’t know it from the fund managers’ paychecks:
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 in the U.S. will be released at 10:30 a.m.
ET.
ANALYST RATINGS
- Jefferies Upgraded ConocoPhillips (NYSE: COP) from Hold to Buy
- JPMorgan Upgraded Clovis Oncology (NASDAQ: CLVS) From Neutral to Overweight
- Morgan Stanley Upgrades TJX Companies (NYSE: TJX) From Equal-Weight to Overweight
- Macquarie Downgraded Disney (NYSE: DIS)
from Outperform to Neutral
- Deutsche Bank Downgraded AvalonBay (NYSE: AVB) from Buy to Hold
- Wells Fargo Downgrades Digital Realty Trust (NYSE: DLR) From Outperform To Market Perform
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