IN THE NEWS
BENZINGA
After years of case-building, federal prosecutors will finally meet Martin Shkreli in court Monday, June 26, for a six-week
trial. The former hedge-fund manager and pharmaceutical executive will face eight charges of securities and wire fraud: Link
When Michele “Mish” Schneider first joined the trading-floor boys club with a continental grain and commodities firm, she felt a
bit of culture shock: Link
One of the last major music holdouts finally made the move to the digital era last week when Bob Seger announced he will be
allowing several of his most popular albums to be streamed on services such as Spotify, Apple Inc (NASDAQ:
AAPL)'s Apple Music and Pandora Media Inc
(NYSE: P): Link
THE WALL STREET JOURNAL
Billionaire activist investor Daniel Loeb’s Third Point LLC hedge fund has taken its largest-ever initial bet on a public
company, with a $3.5 billion stake in Nestlé SA (OTC: NSRGY), piling pressure on the world’s largest packaged-foods company to find ways to
accelerate growth:
Link
Takata Corp. filed for bankruptcy protection in Japan and the U.S. and said it would sell most of its
operations to a rival, capping the steep decline of an 84-year-old Japanese company nearly nine years after it began a global
recall of rupture-prone automotive air bags:
Link
When new parents in Rio de Janeiro buy baby food in plastic containers, they are bringing home a little piece of the U.S. shale
revolution:
Link
REUTERS
Republican Senator Susan Collins of Maine said on Sunday she has extreme reservations about the U.S. Senate's healthcare
overhaul and does not think it will be able to pass this week:
Link
Western Digital Corp (NASDAQ: WDC) has
told Toshiba Corp that it will not agree to a sale of the Japanese conglomerate's prized memory chip unit to a
preferred bidding consortium that includes rival chipmaker SK Hynix Inc:
Link
BLOOMBERG
President Donald Trump has promised the largest tax cut in history, but for scores of the biggest U.S. corporations, it might be
just a tax nick:
Link
Senate Majority Leader Mitch McConnell faces the risk of an embarrassing defeat in his campaign to pressure enough fellow
Republicans to pass sweeping cutbacks in Obamacare:
Link
NY POST
The US economy is teetering, despite what the job and stock markets are telling you:
Link
ECONOMIC DATA
- San Francisco Federal Reserve Bank President John C. Williams is set to speak in Ultimo, New South Wales at 1:10 a.m.
ET.
- USA Durable Goods Ex-Transportation (MoM) for May 0.10% vs 0.50% consensus estimate. The prior reading was -0.50%.
- Chicago Fed (May) national activity index -0.26 vs 0.20 est.
- The Dallas Fed manufacturing index for June will be released at 10:30 a.m. ET.
- The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.
- The Treasury will also auction 2-year notes at 1:00 p.m. ET.
ANALYST RATINGS
- Pacific Crest upgraded Pandora from Underweight to Sector Weight
- BMO upgraded Visteon (NYSE: VC) from
Market Perform to Outperform
- Goldman Sachs upgraded Duke Energy (NYSE: DUK) from Neutral to Buy
- Raymond James downgraded Health Insurance (NASDAQ: HIIQ) from Outperform to Market Perform
- Goldman Sachs downgraded WEC Energy (NYSE:
WEC) from Neutral to Sell
- Jefferies downgraded DaVita (NYSE: DVA)
from Buy to Hold
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