IN THE NEWS
Snap Inc (NYSE: SNAP) is down nearly 50 percent from its year-to-date high. It’s suffered poor publicity and posted weak earnings, and amid all that, it’s racked up short interest of 110 million shares. Naturally, it has a fan in contrarian Citron Research: Link
June is almost here and if history repeats, the arrival of the sixth month of the year isn’t good news for equities. Over the past 20 years, the S&P 500 has averaged June declines of 0.5 percent, making June the fourth-worst month of the year for the benchmark domestic equity gauge: Link
The U.S. made friends with metalworkers Thursday, but not with anyone else: Link
Life isn’t getting any easier for Athenahealth’s (NASDAQ: ATHN) Jonathan Bush. As the health care CEO fends off a takeover attempt by activist investor Elliott Management, Bush is being forced to face a second allegation of his mistreatment of women: Link
U.S. opens criminal probe into trading in Fannie, Freddie Bonds: Link $
Trump to grant lifeline to money-losing coal power plants: Link $
- Nonfarm Payrolls for May 223.0K vs 189.0K Est; Prior 164.0K. Private Payrolls for May 218.0K vs 183.0K Est; Prior 168.0K
- US Unemployment Rate for May 3.80% vs 3.90% Est; Prior 3.90%
- The manufacturing PMI for May is schedule for release at 9:45 a.m. ET.
- Data on construction spending for April will be released at 10:00 a.m. ET.
- The ISM manufacturing index for May is schedule for release at 10:00 a.m. ET.
- The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
- Stifel Upgrades UDR (NYSE: UDR) from Hold to Buy
- Imperial Upgrades American Airlines (NASDAQ: AAL) from In-Line to Outperform
- Imperial Downgrades Southwest Airlines (NYSE: LUV) from Outperform to In-Line
- JPMorgan Downgrades Scotts Miracle-Gro (NYSE: SMG) from Neutral to Underweight
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