The Market In 5 Minutes: Shopify, Equifax And More

10/05/17 09:55 AM EDT

IN THE NEWS

Benzinga

Citron Research Managing Editor Andrew Left takes on a new target: Shopify (NYSE: SHOP): Link

Equifax Inc. (NYSE: EFX) has endured one of the worst months imaginable. Yet surprisingly, the stock’s share price is holding up relatively well considering the non-stop waves of negative headlines hitting the company: Link

Wall Street Journal

Large U.S. companies have for years sought to tie executive pay to financial and stock-market results, but a new study suggests their efforts aren’t working over the long term: Link

American shale drillers, which defied expectations and upended traditional oil markets by increasing production in the face of lower prices, are finally showing signs of slowing down: Link

Reuters

In the middle of Whirlpool Corp (NYSE: WHR)’s bustling washer factory in northern Ohio there is an empty patch of concrete floor - a reminder of a $60 million expansion plan the appliance maker says fell victim to unfair foreign competition: Link

Alphabet Inc’s Google (NASDAQ: GOOGL) on Wednesday unveiled the second generation of its Pixel smartphone along with new voice-enabled home speakers, redoubling its commitment to the hardware business as it competes with a surge of devices from Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN): Link

Bloomberg

Here’s a look at the candidates President Donald Trump is considering over the next few weeks to nominate as chairman of the Federal Reserve and where they stand on monetary policy: Link

Puerto Rico faces a government shutdown on Oct. 31, including halting its hurricane recovery, if Congress doesn’t provide billions in emergency funds, said Treasury Secretary Raul Maldonado: Link

ECONOMIC DATA

  • USA Challenger Job Cuts for Sep 32.30K vs 33.80K Prior
  • US August trade deficit $42.4 billion vs $42.7 billion est.
  • Initial Jobless Claims for Sep 29 260.0K vs 265.0K Est; Continuing Claims for Sep 22 1.94M vs 1.95M Est
  • Data on factory orders for August will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.
  • Kansas City Federal Reserve Bank President Esther George will speak in Austin at 4:30 p.m. ET.
  • Data on money supply for the recent week will be released at 4:30 p.m. ET.

ANALYST RATINGS

  • Canaccord upgraded Microsoft (NASDAQ: MSFT) from Hold to Buy
  • Morgan Stanley upgraded Biogen (NASDAQ: BIIB) from Equal-Weight to Overweight
  • Baird upgraded UDR (NYSE: UDR) from Neutral to Outperform
  • Oppenheimer downgraded Carmax (NYSE: KMX) from Outperform to Perform
  • Stifel downgraded Momenta Pharmaceuticals (NASDAQ: MNTA) from Buy to Hold
  • Morgan Stanley downgraded Celgene (NASDAQ: CELG) from Equal-Weight to Underweight

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.