7 Min Read
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stock index futures fell on Tuesday as a further slide in crude oil prices and the Russian rouble sent traders fleeing from risky assets.
The Dow Jones industrial average futures were down 0.33 percent at 17,134, S&P 500 futures were down 0.43 percent at 1,981.5 and Nasdaq 100 futures were down 0.62 percent at 4,137.75.
** CYCLACEL PHARMACEUTICALS INC, Monday close $2.83, -68.55 pct premarket
The company said an independent data and safety board determined that its lead drug was unlikely to show a statistically significant improvement in survival in some leukemia patients.
** TALISMAN ENERGY INC, Monday close $5.12, +47.46 pct premarket
Spanish oil company Repsol said it had reached a deal to buy Talisman, Canada's fifth-largest independent oil producer, for $13 billion. Repsol's offer valued Talisman at $8.00 per share in cash.
Breakingviews article on the deal
** GT ADVANCED TECHNOLOGIES INC, Monday close $0.408, +17.65 pct premarket
** APPLE INC, Monday close $108.225, -1.36 pct
GT Advanced altered its settlement with former partner Apple to produce more near-term cash to support its emergence from bankruptcy, a lawyer for the sapphire maker told a court on Monday.
** 3M CO, Monday close $156.85, +1.05 pct premarket
The maker of adhesives, abrasives and other products for a variety of industries said it expected organic sales to rise 3-6 percent in 2015, excluding the effect of foreign exchange rates. It also raised its dividend for the first quarter by 20 percent to $1.025 per share.
** COCA COLA CO, Monday close $40.57, -0.84 pct premarket
The company said it does not expect its earnings per share growth in 2015 to be "significantly different" from 2014, when adjusted for currency, as the company struggles to grow amid lackluster demand for soda.
UBS, Jefferies and Nomura cut their price targets on the stock.
** ABRAXAS PETROLEUM CORP, Monday close $2.56, -8.20 pct premarket
Analysts at Baird downgraded the oil and gas producer's stock to "neutral" from "outperform," and halved the price target to $3 after company cut its fourth-quarter output forecast. The company also chopped its 2015 drilling budget to about $54 million from $200 million , citing weak oil prices.
** BIOLINERX LTD, Monday close $1.63, +16.56 pct premarket
Swiss drugmaker Novartis AG bought a 12.8 percent stake in the Israeli biopharmaceutical company as part of a multi-year collaboration deal. Novartis acquired an initial 5 million BioLineRx American depositary shares at $2.00 a share. [ID:nL6N0U021O
** IAMGOLD CORP, Monday close $2.33, +6.44 pct premarket
** YAMANA GOLD INC, Monday close $3.66, +6.56 pct premarket
** GOLDCORP INC, Monday close $17.42, +3.04 pct premarket
** NEWMONT MINING CORP, Monday close $17.92, +2.96 pct premarket
** BARRICK GOLD CORP, Monday close $10.45, +2.97 pct premarket
** RANDGOLD RESOURCES LTD, Monday close $61.2, +4.26 pct premarket
** KINROSS GOLD CORP, Monday close $2.7, +3.70 pct premarket
** ANGLOGOLD ASHANTI LTD, Monday close $7.48, +2.27 pct premarket
** FRANCO-NEVADA CORP, Monday close $46.14, +3.23 pct premarket
** AGNICO EAGLE MINES, Monday close $22.2, +4.46 pct premarket
** ELDORADO GOLD CORP, Monday close $5.77, +4.85 pct premarket
The stock of gold miners rallied as the price of the metal rose around 2 percent on Tuesday, aided by a diving dollar and lower European stocks, after falling more than 2 percent in the prior session in its deepest 1-day slide in over a year.
Spot gold rose as high as $1,221.40 an ounce and was up 2 percent at $1,215.81 an ounce by 1258 GMT as other markets, already nervous about this week's U.S. Federal Reserve meeting and a fall in oil prices, were rattled by the failure of Russia's emergency interest rate rise to stabilise its currency.
** ORANGE, Monday close $15.95, +5.52 pct premarket
Britain's BT has entered into exclusive talks with Orange and Deutsche Telekom to buy EE for 12.5 billion pounds ($19.6 billion) , opting for the country's biggest mobile operator over rival suitor, Telefonica's O2.
** YANDEX NV, Monday close $17.68, -8.43 pct premarket
** VIMPELCOM, Monday close $3.37, -3.56 pct premarket
** MOBILE TELESYSTEMS, Monday close $6.92, -8.09 pct premarket
** QIWI, Monday close $21.51, -5.67 pct premarket
** CTC MEDIA INC, Monday close $4.55, -12.09 pct premarket
The slump in the rouble, down 50 percent against the dollar this year, forced Russia's central bank raised its key interest rate to 17 percent from 10.5 percent on Tuesday. The rouble plunged around 10 percent against the dollar on Monday, its sharpest fall since 1998.
Breakingviews article on the rouble
** SALIX PHARMACEUTICALS LTD, Monday close $103.03, +5.91 pct premarket
The drug developer said it would clear excess inventory by the end of 2015, a year earlier than it had forecast.
** BOEING CO, Monday close $122.08, +1.82 pct premarket
The world's biggest planemaker raised its share repurchase authorization to $12 billion from $10 billion and said it would increase its quarterly dividend by 25 percent, a sign of confidence in its cash outlook for the year. The company had $4.8 billion remaining in its previous stock buyback plan and raised the dividend to 91 cents per share from 73 cents.
** FIAT CHRYSLER, Monday close $11.41, +0.35 pct premarket
In Europe, Fiat got its sole break from buoyant sales of Jeep's new Renegade compact SUV as the brand expands in Europe, with deliveries up a healthy 57 percent to almost 35,000 vehicles so far this year.
Fiat has resumed exports from Brazil to Mexico after a more than three-year hiatus due to weak Brazilian demand and a more favorable exchange rate.
** SUNPOWER CORP, Monday close $23.26, +2.45 pct premarket
** FIRST SOLAR INC, Monday close $41.66, +0.79 pct premarket
Morgan Stanley said it assigned a 75 percent probability to SunPower launching a Yield Co and a 50 percent probability to First Solar, based on recent commentary from each company's management team.
Based on this, the brokerage upgraded SunPower to "overweight" and introduced a price target of $35. It maintained its "equal-weight" rating on First Solar and introduced a $47 target.
** INTERCONTINENTAL HOTELS GROUP, Monday close $37.63, +1.17 pct premarket
InterContinental Hotels, one of the world's largest hoteliers, has agreed to buy U.S.-focused Kimpton Hotels & Restaurants for $430 million to boost its exposure to the faster-growing boutique hotel sector. (Compiled by Anannya Pramanick in Bangalore; Editing by Savio D'Souza)