IN THE NEWS
Benzinga
Sen. Mitch McConnell, R-Kentucky, on Tuesday delayed a vote on a bill to repeal the Affordable Care Act after defections and
opposition from moderates and conservatives appeared to doom the Republican majority leader’s plan: Link
Loup Ventures co-founder Gene Munster has high expectations for Apple Inc. (NASDAQ: AAPL), none of which involve the booming ride-hailing business: Link
With Advanced Micro Devices, Inc. (NASDAQ: AMD) recently releasing its new EPYC server processor chips and market leader
Intel Corporation (NASDAQ: INTC) expected
to respond with its own product launch within weeks, there is clearly a lot on the line in the semiconductor market at the moment:
Link
Deckers Outdoor Corp (NYSE: DECK) stock
saw great volatility Tuesday afternoon on news that Marcato Capital Management threatened dramatic changes to the board if the
company failed to pursue a sale. The activist investor owns 6 percent of Deckers shares: Link
Wall Street Journal
President Donald Trump’s former campaign chairman Paul Manafort registered Tuesday as an agent of a foreign government,
acknowledging for the first time that a small part of his lobbying work for Ukraine’s former president was aimed at influencing
U.S. policy makers and journalists:
Link
Warren Buffett’s firm may soon become the biggest shareholder in Bank of America Corp. (NYSE: BAC):
Link
Reuters
A major global cyber attack disrupted computers at Russia's biggest oil company, Ukrainian banks and multinational firms with a
virus similar to the ransomware that infected more than 300,000 computers last month:
Link
U.S. pipeline operators are selling their underused space at steep discounts to keep crude flowing - angering shippers and
distorting an already opaque market for oil trading:
Link
Bloomberg
Alibaba Group Holding Ltd. (NYSE: BABA)
will invest another $1 billion to raise its stake in online mall Lazada Group SA to 83 percent, securing control of a fast-growing
startup at the vanguard of its Southeast Asian expansion:
Link
Two groups of offshore funds that invested in Bernard Madoff’s fraudulent securities firm agreed to pay a combined $370 million
to resolve lawsuits by the court-appointed trustee raising cash for victims:
Link
New York Post
The race to offer consumers a “quad play” — phone, TV, broadband and wireless — is making for M&A mayhem:
Link
ECONOMIC DATA
- MBA Mortgage Applications for the June 23rd Week -6.2%
- USA Wholesale Inventories (MoM) for May 0.30% vs 0.20% consensus estimate. The prior reading was -0.50%.
- The pending home sales index for May is schedule for release at 10:00 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.
- The Treasury is set to auction 7-year bills at 1:00 p.m. ET.
ANALYST RATINGS
- Barclays upgraded Cypress Semiconductor (NASDAQ: CY) from Equal-Weight to Overweight
- Loop Capital upgraded Dollar Tree (NASDAQ: DLTR) from Hold to Buy
- BMO upgraded Blackhawk Network (NASDAQ:
HAWK) from Market Perform to Outperform
- Morgan Stanley downgraded First Data (NYSE:
FDC) from Overweight to Equal-Weight
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