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Midday Market Update

May 16, 2018

US Market Snapshot

US stocks are rallying today, with small-cap stocks outperforming large-caps. S&P 500 (+0.53%), Russell 2000 (+1.04%), and the Nasdaq Composite (+0.77%) are all higher.

The S&P 500 is being led higher today by Materials (+1.24%), Consumer Discretionary (+0.86%), and Telecom (+0.85%), while Utilities (-1.15%), Real Estate (-0.26%), and Energy (+0.21%) are the biggest lagging sectors.

*Data in Price Return

S&P 500 Sector ETFs - Intraday

*Data in Price Return

Russell 1000 Factor ETFs - Intraday 

*Data in Price Return

Stocks Trending in the News

Click name for Q-Factor rating and financial data.

3M (MMM) was downgraded from a buy to a hold at Jeffries, with a price target set at $220 (down from $250)

Canadian Solar (CSIQ) reported 1Q2018 net revenue that beat expectations ($1.42 billion vs $1.39 billion projected).

Deutsche Bank (DB:DBK) has purchased a $600 million claim against Seadrill Ltd (SDRL) from South Korean shipyard Daewoo Shipbuilding, allowing Deutsche Bank to acquire a stake in Seadrill.

Facebook (FB) CEO Mark Zuckerberg has agreed to testify before EU lawmakers about the Cambridge Analytica data breach, which affected 2.7 million Europeans.

IQVIA (IQV) shares are 4.59% lower after is was reported that the FDA identified problems with the data provided by the company. The FDA has requested that IQVIA notify customers who purchase the data that there are discrepancies in what they are providing.

Microsoft (MSFT) is reportedly planning to introduce a line of low-cost Surface tablets as early as 2H2018, seeking to rival Apple’s iPad product.

Shares of Puma AG (DB:PUM) advanced by 8.40% today, reaching a record high, after Kering (DB:KER) sold a significant portion of its controlling interest in Puma to its shareholders. Kering now holds less than 16% of Puma.

Symantec Corp (SYMC) has been downgraded at Goldman Sachs to neutral from prior buy rating.