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In The News

BENZINGA

President Donald Trump has pledged to devote up to $1 trillion in federal spending to infrastructure projects over the next decade. Unfortunately, according to the American Society of Civil Engineers, even $1 trillion may not fix the problem: Link

Shares of watchmaker Fossil Group Inc (FOSL) were halted to announce weak fourth quarter earnings report: Link

The proposed mega-merger between the fourth largest health insurance company CIGNA Corporation (CI) and second ranked Anthem Inc (ANTM) has been officially called off: Link
The U.S. corporate tax reform chatter grows louder, with President Donald Trump himself promising last Friday that he would soon announce the most ambitious tax reform since the Reagan Era: Link

THE WALL STREET JOURNAL

Federal Reserve Chairwoman Janet Yellen is likely to face a tougher audience Wednesday, when she returns to Capitol Hill for a second day of monetary policy testimony, this time before the House Financial Services Committee: Link

One of the biggest activist investors has built up a more than $3 billion stake in Procter & Gamble Co. (PG), adding urgency to the consumer-product giant’s efforts to turn around its business and boost its stock price: Link

Facebook Inc. (FB) is launching a television app: Link

General Motors Co. (GM) is weighing a sale of its beleaguered Opel AG unit to French car maker Peugeot, a bold retreat by Chief Executive Mary Barra from the European market and a firm reversal of the megavolume strategy that guided the auto giant for decades: Link

REUTERS

Warren Buffett's Berkshire Hathaway Inc (BRK.A) was an aggressive buyer of stocks in last year's fourth quarter, nearly quadrupling its stake in Apple Inc (AAPL) and increasing its stake sevenfold in the four biggest U.S. airlines: Link

U.S. President Donald Trump's vow to roll back government regulations at least 75 percent is causing anxiety for some pharmaceutical executives that a less robust Food and Drug Administration would make it harder to secure insurance coverage for pricey new medicines: Link

Oil slipped further below $56 a barrel on Wednesday as an industry report showing a large rise in U.S. crude inventories signaled ample supply, even as OPEC achieves record compliance with its supply-cut accord: Link

BLOOMBERG

Questions about ties between President Donald Trump’s team and Russian intelligence agents deepened Wednesday after new reports of extensive contacts between the two, which are sure to fuel Republican calls for a deeper look at Trump’s links to the country: Link

Japan’s economy is cruising along, at least by its own recent standards, with real growth clocking in at 1 percent in 2016. It may have reached top speed: Link

The North American Free Trade Agreement undoubtedly has fueled an increase in trade on the continent, though proponents of the agreement may be exaggerating when they say its demise would block the flow of goods among member countries: Link

NY POST

Investors showed some Valentine’s Day love by taking Apple Inc (AAPL) shares to a record high of $135.09 — while sending the major indexes to similar heights: Link

Company Devleopments

Credit Suisse Energy Summit
Leerink Partners Global Healthcare Conference
Goldman Sachs TEchnology and Internet Conference
Stifel Transportation and Logistics Conference

Shareholder Meetings

10 a.m. J & J Snack Foods Corp (JJSF)
1 p.m. Moog Inc (MOG.A)

Analyst Ratings

• Bank of America upgrades Parker Hannifin (PH) from Neutral to Buy
• KeyBanc upgrades RH (RH) from Sector Weight to Overweight
• Credit Suisse upgrades DCP Midstream (DCP) from Underperform to Neutral
• JP Morgan downgrades Sunoco (SUN) from Overweight to Neutral
• Susquehanna downgrades Under Armour (UAA) from Neutral to Negative
• Wells Fargo downgrades Fossil from Market Perform to Underperform

Notable Options Alerts

• TWTR Twitter Feb 16.5 Puts Sweep: 3921 @ ASK $0.30: 7396 traded vs 4256 OI: Earnings 4/25 Before Open (est) $16.45 Re
• CNX Consol Energy Mar 17.0 Calls Sweep: 805 @ ASK $0.97: 808 traded vs 525 OI: Earnings 4/25 Before Open (est) $17.27 Ref
• LC Lending Club Feb 6.0 Calls Sweep: 4000 @ ASK $0.70: 13k traded vs 9246 OI: Earnings today After Close $6.54 Ref
• CI Cigna Apr $155 Call; 5000 @Bid @$2.40
• FIG Fortress Inv Group Mar 6.0 Calls Sweep: 577 @ ASK $0.447: 5249 traded vs 2334 OI: Earnings 2/23 Before Open (est) $6.30 Ref
• FEYE FireEye Feb 12.5 Calls Sweep: 500 @ ASK $0.07: 647 traded vs 320 OI: Earnings 5/4 After Close (est) $11.92 Ref
• MGM MGM Feb 24th 29.5 Calls Sweep: 821 @ ASK $0.416: 2609 traded vs 134 OI: Earnings 2/16 Before Open $28.75 Ref
• PANW Palo Alto Networks Mar 150 Calls Sweep: 1309 @ ASK $11.10: 1364 traded vs 4378 OI: Earnings 2/28 After Close $156.23 Ref
• ISRG Intuitive Surgical Mar 750 Calls: 500 @ ASK $2.70: 509 traded vs 123 OI: Earnings 4/18 After Close (est) $714.16 Ref
• FIG Fortress Investment Group Mar 6.0 Calls Sweep: 623 @ ASK $0.30: 958 traded vs 2334 OI: Earnings 2/23 Before Open (est) $6.10 Ref
• FOSL Fossil Feb 25.0 Calls Sweep: 654 @ ASK $1.05: 2017 traded vs 1430 OI: Earnings today After Close $23.46 Ref
• PGNX Progenics May 10.0 Puts Sweep: 500 @ ASK $1.60: 500 traded vs 62 OI: Earnings 3/9 Before Open (est) $9.52 Ref
• NAK Northern Dynasty Feb 3.0 Calls: 500 @ ASK $0.05: 970 traded vs 3418 OI: Earnings 3/13 Unspecified (est) $2.30 Ref
• UPS UPS Feb 109 Calls Sweep: 1099 @ ASK $0.26: 1977 traded vs 1195 OI: Earnings 4/27 Before Open (est) $108.40 Ref
• JD JD.com Mar 32.0 Calls: 15000 @ ASK $0.40: 20k traded vs 1284 OI: Earnings 2/28 Before Open (est) $29.41 Ref
• HIMX Himax June $6 Put; 2500 @Bid @$0.80
• SHLD Sears Jan 2018 $10 Put; 31358 @Bid @$5.20
• GPRO GoPro Feb 9 Call; 2500 @Bid @$0.17

Above 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. Apply for daily AM access by clicking here or email minutes@benzinga.com.