The Market In 5 Minutes
IN THE NEWS
BENZINGA
Tesla Inc (NASDAQ: TSLA) released its fourth quarter earnings after the close on Wednesday. Shares were up nearly 3 percent, reversing losses in the regular session, following a sales beat despite missing on earnings: Link
Here’s a look at a few of Elon Musk’s most out-there predictions: Link
What does it mean to invest like David Einhorn? Luckily, the man has been extremely generous about sharing his investing philosophy over the years: Link
Detroit’s Downtown Development Authority has approved a timeline for the construction of a 52-story skyscraper — the city’s tallest — by Dan Gilbert’s Bedrock Real Estate: Link
THE WALL STREET JOURNAL
U.S. companies are girding for fallout from the Trump administration’s moves to tighten immigration enforcement, with farmers, food companies and builders among those bracing for possible deportations of workers that some fear could leave businesses short-staffed: Link
Treasury Secretary Steven Mnuchin laid out ambitious goals to secure a U.S. tax-code overhaul by August and to deliver economic growth at rates not seen in more than a decade: Link
A trade group that represents large U.S. companies delivered to the White House on Wednesday a letter outlining the regulations that executives say represent their top targets for repeal or modification in the Trump administration: Link
REUTERS
President Donald Trump's administration on Wednesday revoked landmark guidance to public schools letting transgender students use the bathrooms of their choice, reversing a signature initiative of former Democratic President Barack Obama: Link
President Donald Trump, who has vowed to stop U.S. manufacturing from disappearing overseas, will seek job-creation advice on Thursday from at least five companies that are laying off thousands of workers as they shift production abroad: Link
When Apple Inc (NASDAQ: AAPL) launches its much-anticipated 10th anniversary iPhone this fall, it will offer an unwitting lesson in how much the smartphone industry it pioneered has matured: Link
BLOOMBERG
When Donald Trump interviewed Jay Clayton to be his chief securities regulator in December, the then-president elect was fixated on the steep decline in U.S. initial public offerings: Link
Northern Trust Corp. removed the Federal Reserve from its list of investment risks this month, says Jim McDonald, the firm’s chief investment strategist: Link
NY POST
Hedge fund billionaire David Einhorn is separating from his wife of 24 years, Cheryl Strauss Einhorn, and the pair is heading for divorce, sources have confirmed to Page Six: Link
Goldman Sachs has warned that the Trump stock market rally, which has lifted the Dow Jones industrial average 13 percent since Election Day, could soon come to an end: Link
ECONOMIC DATA
Initial Jobless Claims for Feb 17 244.0K vs 241.0K Est; Prior 239.0K. Continuing Claims for Feb 10 2.06M vs 2.07M Est; Prior 2.08M
USA Chicago Fed National Activity Index for Jan -0.05 vs 0.10 Est; Prior 0.14
The Energy Information Administration’s weekly report on natural gas stocks is schedule for release at 10:30 a.m. ET.
The Kansas City Fed manufacturing index for February will be released at 11:00 a.m. ET.
The EIA’s weekly report on petroleum inventories is schedule for release at 11:00 a.m. ET.
Dallas Federal Reserve Bank President Robert Kaplan will speak in Fort Worth, Texas at 1:00 p.m. ET.
The Treasury will auction 7-year notes at 1:00 p.m. ET.
Data on money supply for the recent week will be released at 4:30 p.m. ET.
ANALYST RATINGS
Morgan Stanley upgraded Home Depot (NYSE: HD) from Equal-Weight to Overweight
Raymond James upgraded AquaVenture Holdings (NYSE: WAAS) from Outperform to Strong Buy
BTIG Research upgraded Square (NYSE: SQ) from Neutral to Buy
BMO Capital downgraded NVIDIA (NASDAQ: NVDA) from Market Perform to Underperform
Wells Fargo downgraded Reynolds American (NYSE: RAI) from Outperform to Market Perform
Craig-Hallum downgraded Lands' End (NASDAQ: LE) from Buy to Hold
NOTABLE OPTION ALERTS
SHOR Shoretel Jul 7.5 Calls Sweep: 599 @ ASK $0.55: 649 traded vs 62 OI: Earnings 4/27 After Close (est) $6.83 Ref
LDOS Leidos Mar 53.0 Calls Sweep: 872 @ ASK $1.70: 872 traded vs 0 OI: Earnings tmrrw Before Open $52.94 Ref
HPQ HP Mar 17.0 Calls Sweep: 955 @ ASK $0.16: 1041 traded vs 3192 OI: Earnings today After Close $16.14 Ref
YELP YELP Mar 3rd 36.5 Calls: 976 @ ASK $0.15: 991 traded vs 323 OI: Earnings 5/4 After Close (est) $34.24 Ref
RHT RedHat Apr 90.0 Calls Sweep: 1500 @ ASK $1.60: 1582 traded vs 0 OI: Earnings 3/22 After Close (est) $84.51 Ref
JCP JC Penney Apr 8.0 Calls: 19898 @ ASK $0.26: 20k traded vs 175 OI: Earnings 2/24 Before Open $6.99 Ref
OUT Outfront Media Mar 25.0 Puts: 1000 @ ASK $0.35: 1020 traded vs 1243 OI: Earnings today After Close $26.85 Ref
ZNGA Zynga Jun 2.5 Puts Sweep: 3398 @ ASK $0.13: 5010 traded vs 36k OI: Earnings 5/4 After Close (est) $2.81 Ref
SQ Square Mar 15.0 Puts Sweep: 881 @ ASK $0.75: 13k traded vs 9021 OI: Earnings today After Close $15.18 Ref
MDRX AllScripts Jun 14.0 Calls Sweep: 719 @ ASK $0.35: 719 traded vs 56 OI: Earnings 5/4 After Close (est) $12.07 Ref
JCP JC Penney Mar 3rd 7.0 Puts: 7464 @ ASK $0.35: 11k traded vs 234 OI: Earnings 2/24 Before Open $7.02 Ref
YELP YELP Apr 40.0 Calls: 1000 @ ASK $0.45: 1000 traded vs 11 OI: Earnings 5/4 After Close (est) $34.26 Ref
PDCO Patterson Co Mar 43.0 Puts Sweep: 1207 @ ASK $0.698: 1216 traded vs 8 OI: Earnings tmrrw Before Open $44.67 Ref
BIVV Bioverative Apr $45 Put; 3000 @Bid @ $1.40
SIRI SiriusXM Jun 6.0 Calls Sweep: 1000 @ ASK $0.10: 1040 traded vs 1874 OI: Earnings 4/27 Before Open (est) $5.16 Ref
TRIP TripAdvisor Jun 55.0 Calls Sweep: 1662 @ ASK $1.00: 1662 traded vs 584 OI: Earnings 5/4 After Close (est) $45.43 Ref
HAIN Hain Cel May $36 Call; 2500 @Bid @$2.05
UAA Under Armour Jul 30.0 Calls Sweep: 685 @ ASK $0.30: 900 traded vs 2392 OI: Earnings 4/25 Before Open (est) $20.17 Ref
FIT Fitbit Feb 24th 5.5 Puts Sweep: 1000 @ ASK $0.15: 1207 traded vs 4134 OI: Earnings today After Close $5.97 Ref
VRX Valeant Feb 24th 18.0 Puts Sweep: 3047 @ Bid @$1.41
YHOO Yahoo Apr 44.0 Puts Sweep: 550 @ ASK $0.87: 794 traded vs 1728 OI: Earnings 4/18 After Close (est) $45.72 Ref
AERI Aeri Pharma Mar 45.0 Calls Sweep: 700 @ ASK $3.50: 1400 traded vs 218 OI: Earnings 3/1 After Close (est) $44.20 Ref
ERIC Ericsson Oct17 8.0 Calls Sweep: 687 @ ASK $0.20: 687 traded vs 0 OI: Earnings 4/25 Before Open $6.31 Ref
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