IN THE NEWS
Benzinga
For Tesla Inc (NASDAQ: TSLA) fans, good
tidings came in the form of a series of tweets from CEO Elon Musk. The highly-anticipated mass market Model 3 vehicles could be
ready to roll off the factory assembly line.: Link
A Miami man who unleashed hundreds of millions of “robocalls” hawking dubious vacation trips — using a dozen different
disappearing corporations over two decades — faces a $127 million fine by July 22 unless he can prove his business was something
more than a tenacious telemarketing scam: Link
It’s certainly not impossible that Verizon Communications Inc. (NYSE: VZ) is considering acquiring Walt Disney Co (NYSE: DIS). But if this New York Post rumor plays out at all like the others, the deal
isn't likely: Link
Wall Street Journal
If you drew up a list of preconditions for recession, it would include the following: a labor market at full strength, frothy
asset prices, tightening central banks, and a pervasive sense of calm:
Link
J.P. Morgan Chase & Co. (NYSE: JPM) made a
preliminary approach to acquire U.K. payments business Worldpay Group Inc., potentially marking one of the biggest deals for a U.S.
bank since the financial crisis and reflecting banks’ growing confidence in a shifting regulatory environment:
Link
Republican senators are confronting a political challenge that is increasingly hard to ignore as they engage with voters during
the July Fourth recess: Under their health-care overhaul, average premiums for a midlevel insurance plan would jump by 20% next
January:
Link
Reuters
Federal prosecutors on Monday asked a U.S. judge for a gag order muzzling former drug company executive Martin Shkreli, on trial
for securities fraud charges, arguing that his statements to media could taint the jury and disrupt the case, court papers show:
Link
The U.S. government has sought to intervene in Apple's (NASDAQ: AAPL) appeal against an EU order to pay back up to 13 billion euros ($14.8 billion)
in Irish taxes, a source familiar with the matter said on Tuesday:
Link
Bloomberg
Donald Trump’s encounter with Russian leader Vladimir Putin is raising concerns among veteran American diplomats and analysts
about a mismatch between a U.S. president new to global affairs and a wily former Soviet spymaster experienced in the long game of
strategy and statecraft:
Link
Federal Reserve officials have mapped out plans to reduce their $4.5 trillion balance sheet, but they’ve left out one key
detail: the starting point:
Link
New York Post
Disgraced tech investor Dave McClure has resigned as a general partner of 500 Startups, according to reports:
Link
ECONOMIC DATA
- Redbook Reports US Retail Sales Up 0.7% MoM During Jun., Up 2.5% YoY
- Data on factory orders for May will be released at 10:00 a.m. ET.
- The Federal Open Market Committee will issue minutes of its latest meeting at 2:00 p.m. ET.
ANALYST RATINGS
- KeyBanc upgraded Oracle (NYSE: ORCL)
from Sector Weight to Overweight
- BMO upgraded ONEOK (NYSE: OKE) from
Market Perform to Outperform
- Wedbush downgraded Capital One Financial (NYSE: COF) from Neutral to Underperform
- Credit Suisse downgraded Novartis (NYSE: NVS) from Neutral to Underperform
- RBC downgraded EQT (NYSE: EQT) from
Outperform to Sector Perform
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