The Market In 5 Minutes: Theranos, Kudlow, Wells Fargo And More

Benzinga Newsdesk
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IN THE NEWS

Legal teams at the world’s top tech companies are bracing for a new era — one that aligns the real world with an increasingly expansive virtual one: Link

Fixed income investors looking to diversify away from traditional corporate debt, municipal bonds and Treasuries have interesting options to consider in the world of exchange traded funds: Link

iHeartMedia Inc., the company behind the biggest U.S. radio broadcaster, filed for bankruptcy protection after reaching an agreement in principle with investors over a balance-sheet restructuring, a decade after a private-equity-led buyout left the company laden with billions in debt: Link $

Theranos Inc. Chief Executive Elizabeth Holmes, widely hailed as Silicon Valley’s first female billionaire startup founder, agreed to a settlement with federal regulators that strips her of voting control, bans her from being an officer or director of any public company for 10 years and requires her to pay a $500,000 penalty: Link $

Amazon.com Inc’s (NASDAQ: AMZN) top television shows drew more than 5 million people worldwide to its Prime shopping club by early 2017, according to company documents, revealing for the first time how the retailer’s bet on original video is paying off: Link

U.S. regulators are preparing to sanction Wells Fargo (NYSE: WFC) for receiving commissions on auto insurance policies it helped force on more than half a million drivers, people with direct knowledge of the probes told Reuters: Link

Larry Kudlow wasted no time in showing Wall Street and Washington that he’s ready to serve as an unabashed economic warrior for President Donald Trump: Link

ECONOMIC DATA

  • Initial Jobless Claims for Mar 9 226.0K vs 230.0K Est; Prior 231.0K. Continuing Claims for Mar 2 1.88M vs 1.90M Est; Prior 1.87M

  • USA Import Prices (MoM) for Feb 0.40% vs 0.30% Est; Prior Revised from 1.00% to 0.80%. Export Prices (MoM) for Feb 0.20% vs 0.30% Est; Prior 0.80%

  • Philadelphia Fed Manufacturing Index for Mar 22.30 vs 23.20 Est; Prior 25.80. Philly Fed Prices for Mar 42.60 vs 45.00 Prior

  • NY Empire State Manufacturing Index for Mar 22.50 vs 15.20 Est; Prior 13.10

ANALYST RATINGS

  • KeyBanc upgraded Akamai (NASDAQ: AKAM) from Underweight to Sector Weight

  • Gordon Haskett upgraded Williams-Sonoma (NYSE: WSM) from Reduce to Hold

  • Credit Suisse downgraded Maxar Technologies (NYSE: MAXR) from Outperform to Neutral

  • Macquarie downgraded Expedia (NASDAQ: EXPE) from Outperform to Neutral

This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

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