IN THE NEWS
BENZINGA
As investors attempt to make sense of the tortuous path of driverless vehicles, who better to turn to than technology analyst
Gene Munster? The Loup Ventures co-founder offered Benzinga a few tips on how to trade the autonomous vehicle theme: Link
Considering a strengthening labor market, solid job gains, rising household spending and expansion of business fixed
investments, the Federal Open Market Committee of the Federal Reserve raised the target interest rate to between 1 and 1.25 percent
Wednesday: Link
The Internal Revenue Service is reportedly trying to prove that marijuana businesses have been illegally trafficking in weed and
aren't entitled to the tax deductions they have been claiming, several sources have reported: Link
THE WALL STREET JOURNAL
For billionaire investor David Bonderman, the controversy caused by a comment he made at an Uber Technologies Inc. employee
meeting represents a low point in a career marked by big wins and the occasional high-profile stumble:
Link
President Donald Trump’s firing of former FBI Director James Comey is now a subject of the federal probe being headed by special
counsel Robert Mueller, which has expanded to include whether the president obstructed justice, a person familiar with the matter
said:
Link
Baidu Inc. (NASDAQ: BIDU) is among
China’s tech giants looking to get a leg up in the competitive financial services market. Credit-rating companies aren’t so sure
it’s a good idea:
Link
REUTERS
Western Digital Corp (NASDAQ: WDC) has
sought a court injunction to prevent Toshiba Corp from selling its chip business without the U.S. firm's consent - a move that
threatens to throw the fiercely contested auction into disarray:
Link
Greece's international lenders are expected to agree on Thursday to unblock as much as 8 billion euros in loans that Athens
desperately needs to next month to pay its bills, but to leave the contentious issue of debt relief for later:
Link
BLOOMBERG
The person most likely to be Federal Reserve chair when Janet Yellen's term expires in February is… Janet Yellen:
Link
The shooting of a Republican lawmaker known for his support for gun rights sparked alarm among GOP colleagues, with some calling
for lawmakers to carry weapons and others saying the attack doesn’t justify tighter firearms restrictions:
Link
NY POST
SeaWorld’s (NYSE: SEAS) chairman may soon
get released into the wild:
Link
ECONOMIC DATA
- USA Initial Jobless Claims for Jun 10 237.0K vs 242.0K consensus estimate. The prior reading was 245.0K.
- USA Philadelphia Fed Manufacturing Index for Jun 27.60 vs 24.00 consensus estimate. USA Export Prices (MoM) for May -0.70 vs
0.10% consensus estimate.
- USA Import Prices (MoM) for May -0.30% vs -0.10% consensus estimate. The prior reading was 0.50%.
- USA NY Empire State Manufacturing Index for Jun 19.80 vs 4.00 consensus estimate. The prior reading was -1.00.
- Data on industrial production for May will be released at 9:15 a.m. ET.
- The housing market index for June is schedule for release at 10:00 a.m. ET.
- The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
- The Treasury International Capital data for April will be released at 4:00 p.m. ET.
- Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
- Macquarie upgraded Thomson Reuters (NYSE: TRI) from Neutral to Outperform
- Morgan Stanley upgraded La Quinta (NYSE: LQ) from Equal-Weight to Overweight
- Morgan Stanley upgraded Enterprise Production Partners (NYSE: EPD) from Equal-Weight to Overweight
- Canaccord downgraded Google (NASDAQ: GOOGL) from Buy to Hold
- Morgan Stanley downgraded Sprouts Farmers Market (NASDAQ: SFM) from Overweight to Equal-Weight
- Jefferies downgraded Healthcare Realty Trust (NYSE: HR) from Buy to Hold
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