The Market In 5 Minutes

IN THE NEWS

BENZINGA

Tesla Inc TSLA spiked as much as 5.6 percent Monday after first-quarter reports boasted a sizeable deliveries record — a victory CEO Elon Musk sought to capitalize on: Link

Here are six occasions of elite billionaires who are presently flexing their super muscles: Link

VBI Vaccines Inc. - Ordinary Shares VBIV has emerged as one of the best performing small-cap biotech plays of the year, with shares of the company quietly jumping over 75 percent year-to-date: Link

THE WALL STREET JOURNAL

Alphabet Inc. GOOGL accused its former driverless-car executive Anthony Levandowski of quietly developing a competing company for more than three years before he left the internet giant and eventually sold the business to Uber Technologies Inc., according to legal documents released Monday: Link

The federal government on Monday began accepting visa applications for a fresh round of high-skilled foreign workers, without the wholesale changes President Donald Trump promised in his campaign. His administration did, though, announce one shift that could put pressure on outsourcing companies that typically win a large share of the coveted visas: Link

Mylan was hit Monday with a lawsuit alleging the drug company overcharged EpiPen patients as part of an illegal scheme to secure sales: Link

REUTERS

Shares of Panera Bread Co PNRA rose 8 percent to a record high on Monday on a report that the bakery cafe chain was considering strategic options, including a sale, after receiving takeover interest: Link

U.S. President Donald Trump on Monday signed a repeal of Obama-era broadband privacy rules, the White House said, a victory for internet service providers and a blow to privacy advocates: Link

U.S. stock exchanges that spent decades speeding up markets with cutting-edge technology are now rushing to slow them down: Link

BLOOMBERG

Boeing Co. BA said on Tuesday it has signed a new, $3 billion deal with Iran's Aseman Airlines to supply 30 737 MAX aircraft to the carrier, the first major sale by a U.S. company to the Islamic Republic under new President Donald Trump: Link

The world will have a better idea by the end of this week, but probably no definitive answer, on whether the U.S. economy’s boom in “soft” data is being reflected in the “hard” stuff: Link

NY POST

After two years of sometimes tense negotiations, Universal Music Group has reached a long-term deal to have its songs streamed on Spotify, The Post has learned: Link

James Dolan’s MSG Networks Inc MSGN is sounding out suitors, several sources told The Post: Link

ECONOMIC DATA

• February 2017 US trade balance -$43.6B vs -$44.8B
• The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.
• Data on factory orders for February will be released at 10:00 a.m. ET.
• The Treasury will auction 4-week bills at 11:30 a.m. ET.
• Federal Reserve Governor Daniel Tarullo is set to speak in Princeton, N.J. at 4:30 p.m. ET.

ANALYST RATINGS

• KeyBanc upgraded Sherwin-Williams SHW from Sector Weight to Overweight
• Pacific Crest upgraded Cirrus Logic CRUS from Sector Weight to Overweight
• Summit Redstone Partners upgraded Microchip Technology MCHP from Hold to Buy
• BMO Capital downgraded Alphabet from Outperform to Market Perform
• Pacific Crest downgraded NVIDIA NVDA to Underweight
• Citigroup downgraded Urban Outfitters URBN from Buy 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 or email minutes@benzinga.com.