The Market In 5 Minutes

IN THE NEWS

BENZINGA

Electric vehicle maker Tesla Inc TSLA has delivered a hit, with its forecast-beating fourth-quarter results. More comforting was the commentary from CEO Elon Musk that its mass-market Model 3 vehicle, on which the company has pinned its hopes for turning to black, is on track for commercial launch this year: Link

One of President Donald Trump’s major campaign talking points was that he and the Republican-controlled Congress would repeal and replace the Affordable Care Act (ACA). Despite a major Republican election victory, that task may still be easier said than done: Link

Nvidia Corporation NVDA shares dropped 8 percent Thursday following successive downgrades from BMO and Nomura analysts: Link

Sentiment has been mixed on the prolonged and ongoing bull market, as well as the recent rally investors have been experiencing since November, with some commentary dubbing it the most hated rally in history: Link

THE WALL STREET JOURNAL

Google parent Alphabet Inc.’s GOOGL heated rivalry with Uber Technologies Inc. over self-driving cars has spilled into the courthouse, after the internet giant sued the ride-hailing company for allegedly stealing trade secrets to jump-start its own autonomous vehicle program: Link

Executives from major manufacturers including General Electric Co. GE, Dow Chemical Co. DOW, and Lockheed Martin Corp. LMT, gathered for 2 1/2 hours on Thursday to trade policy proposals with senior administration officials at the White House: Link

The aviation industry is bulging with orders for new planes. If only it can get them made: Link

REUTERS

Early investors in Uber Technologies Inc wrote to the ride-hailing company on Thursday to criticize it for failing to end a toxic culture of harassment: Link

U.S. President Donald Trump on Thursday spoke positively about a border adjustment tax being pushed by Republicans in Congress as a way to boost exports, but he did not specifically endorse the proposal: Link

Toshiba Corp, responding to media reports, said on Friday it was not aware that its U.S. nuclear unit Westinghouse was considering filing for Chapter 11 protection from creditors - an option analysts say could jeopardize the entire group: Link

BLOOMBERG

White House spokesman Sean Spicer said he expects the Justice Department to increase enforcement of laws prohibiting the recreational use of marijuana, a departure from the Obama administration’s less aggressive stance as states began legalizing recreational as well as medical use of the drug: Link

Across America’s orchards and crop fields, a shrinking supply of migrants has already driven pay up faster than in the broader workforce. President Donald Trump’s immigration policy may turbocharge that trend: Link

THE NEW YORK TIMES

When Snap goes public next month, one of the biggest winners will be Lightspeed Venture Partners: Link

ECONOMIC DATA

• Data on new home sales for January will be released at 10:00 a.m. ET.
• The University of Michigan's consumer sentiment index for February 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.

ANALYST RATINGS

• UBS upgraded Chesapeake Energy CHK from Sell to Neutral
• JP Morgan upgraded Wendy's WEN from Neutral to Overweight
• Argus Research upgraded Energen EGN from Hold to Buy
• Berenberg downgraded Goldman Sachs GS from Hold to Sell
• Jefferies downgraded Goodyear Tire & Rubber GT from Buy to Hold
• Nomura downgraded Invesco Mortgage Capital Inc IVR from Buy to Neutral

NOTABLE OPTIONS ALERTS

• GOOG Alphabet Jun 900 Puts: 1000 @ ASK $76.60: 1000 traded vs 318 OI: Earnings 4/20 After Close (est) $830.42 Ref
• NKE Nike Feb 24th 58.0 Puts Sweep: 1621 @ ASK $0.70: 4994 traded vs 372 OI: Earnings 3/21 After Close (est) $57.44 Ref
• DLTR Dollar Tree Mar 75.0 Puts Sweep: 1000 @ ASK $2.40: 1019 traded vs 945 OI: Earnings 3/1 Before Open $77.45 Ref
• AVP Avon Jan18 3.0 Puts Sweep: 1000 @ ASK $0.40: 1000 traded vs 25k OI: Earnings 5/4 Before Open (est) $4.28 Ref
• P Pandora Jun 14.0 Calls Sweep: 2445 @ ASK $1.00: 2447 traded vs 2572 OI: Earnings 4/27 After Close (est) $13.17 Ref
• WFM Whole Foods Mar 31.0 Calls Sweep: 700 @ ASK $0.92: 1033 traded vs 4502 OI: Earnings 5/3 After Close (est) $31.26 Ref
• M Macy's Mar 3rd 34.0 Calls: 981 @ ASK $0.34: 1146 traded vs 4174 OI: Earnings 5/11 Before Open (est) $32.96 Ref
• P Pandora Mar 14.5 Calls Sweep: 799 @ ASK $0.20: 802 traded vs 366 OI: Earnings 4/27 After Close (est) $13.10 Ref
• FL Foot Locker Mar 70.0 Calls: 1000 @ ASK $2.10: 3456 traded vs 2391 OI: Earnings tmrrw Before Open $69.43 Ref
• KATE Kate Spade Mar 21.0 Calls: 2500 @ ASK $3.00: 5976 traded vs 3254 OI: Earnings 5/4 Before Open (est) $23.65 Ref
• TWTR Twitter Marc $25 Put; 5000 @Bid @8.47
• SHOR Shoretel Apr 7.5 Calls Sweep: 928 @ ASK $0.30: 1258 traded vs 1633 OI: Earnings 4/27 After Close (est) $6.70 Ref
• KATE Kate Spade Mar 21.0 Calls: 3400 @ ASK $3.00: 3420 traded vs 3254 OI: Earnings 5/4 Before Open (est) $23.54 Ref
• CAT Caterpillar Feb 24th 96.5 Calls Sweep: 1500 @ ASK $0.13: 1562 traded vs 271 OI: Earnings 4/25 Before Open (est) $95.30 Ref
• PENN Penn National Mar 13.0 Puts Sweep: 1248 @ ASK $0.15: 1248 traded vs 25 OI: Earnings 4/27 Before Open (est) $14.01 Ref
• FRED Freds Apr 20 Call; 4000 @Bid @$1.05
• MYL Mylan Apr 45.0 Calls Sweep: 500 @ ASK $0.989: 1066 traded vs 11k OI: Earnings 3/1 Unspecified $41.88 Ref
• BBD Banco Bradesco Mar 11.0 Calls Sweep: 643 @ ASK $0.457: 665 traded vs 1902 OI: Earnings 4/27 Before Open $11.16 Ref
• KITE Kite Pharma Mar 60.0 Calls: 700 @ ASK $1.30: 700 traded vs 919 OI: Earnings 2/28 Before Open (est) $52.53 Ref
• FEYE FireEye FEYE Mar 24th 13.0 Calls: 500 @ ASK $0.30: 500 traded vs 2077 OI: Earnings 5/4 After Close (est) $11.91 Ref
• FB Facebook Apr 145 Call; 7500 @Bid @$0.98
• ALXN Alexon May 160 Calls Sweep: 813 @ ASK $1.649: 813 traded vs 158 OI: Earnings 4/27 Before Open (est) $128.97 Ref
• HLF Herbalife Mar 55.0 Puts Sweep: 1001 @ ASK $1.096: 1335 traded vs 834 OI: Earnings today After Close $60.00 Ref
• MBLY MobilEye Mar 50.0 Calls Sweep: 653 @ ASK $0.90: 695 traded vs 8015 OI: $47.67 Ref
• PTX Pernix Therapeutics Aug 2.5 Puts: 500 @ ASK $0.80: 2519 traded vs 3 OI: Earnings 3/9 Before Open (est) $3.83 Ref
• ZIOP Ziopharm Mar 7.0 Calls Sweep: 500 @ ASK $0.40: 703 traded vs 2043 OI: Earnings 5/10 After Close (est) $6.77 Ref
• V Visa Sep17 100 Calls Sweep: 857 @ ASK $1.12: 857 traded vs 653 OI: Earnings 4/20 After Close (est) $88.32 Ref
• ZNGA Zynga Jun 2.5 Puts Sweep: 3998 @ ASK $0.13: 3998 traded vs 8458 OI: Earnings 5/4 After Close (est) $2.81 Ref
• PLUG Plug Power Mar 2.0 Calls Sweep: 585 @ ASK $0.05: 585 traded vs 4112 OI: Earnings 3/9 Before Open (est) $1.18 Ref