The Market In 5 Minutes: WWE's Big Deal, Netflix And The Obamas, Sony-EMI And More

IN THE NEWS

Shares of WWE WWE are up almost 40 percent over the past week. Yesterday, news hit that "Smackdown Live" may be moving from USA Network to Fox FOXA: Link

With Turtle Beach HEAR up 278 percent in the past month, the stock has earned its fair share of followers, cheerleaders and skeptics: Link

Netflix NFLX signed former U.S. President Barack Obama and the former first lady Michelle Obama to a multiyear deal to produce shows and documentaries for the streaming platform: Link $

It appears even Amazon.com AMZN has its limits. The e-commerce giant bans shoppers from the site for infractions such as returning too many items, sometimes without telling them what they did wrong: Link $

U.S. farmers said they would push ahead with plantings planned before U.S.-China trade tensions eased and, now that the two countries have resumed talks, take a wait-and-see approach to President Donald Trump’s promises for more sales to China: Link

Sony SNE said it would pay about $2.3 billion to gain control of EMI, becoming the world’s largest music publisher in an industry that has found new life on the back of streaming services: Link

Coffee waste is now fetching a 480 percent premium over coffee itself. Prices for dried husks are outstripping those for beans: Link

ECONOMIC DATA

• The Richmond Fed manufacturing index for May will be released at 10:00 a.m. ET.
• The Treasury is set to auction 4-and 52-week bills at 11:30 a.m. ET.
• The Treasury is set to auction 2-year notes at 1:00 p.m. ET.

ANALYST RATINGS

• Susquehanna upgrades Macy's M to Positive, Raises Price Target to $43
• Deutsche Bank downgrades Manchester United MANU to Hold, Lowers Price Target to $21
• Credit Suisse downgrades Raytheon RTN to Neutral, Announces $219 Price Target

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.