6 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. stocks were little changed on Tuesday, constrained by Wal-Mart's weak results and as investors took a breather after a rally that took the Dow Jones industrial average and the S&P 500 to record closing highs the previous day. The Dow Jones industrial average was up 0.12 percent at 18,321.1 and the S&P 500 was up 0.04 percent at 2,130.09.
** WAL-MART STORES INC, $76.57, -4.19 pct
The world's largest retailer reported lower-than-expected quarterly U.S. same-store sales growth, saying its customers were using their tax refunds and savings at the pump to pay down debt rather than spend on discretionary items.
** URBAN OUTFITTERS INC, $33.79, -17.02 pct
The company's quarterly sales fell short of market estimates as sales under the Anthropologie brand rose at the slowest pace in 11 quarters.
** ROUNDY'S INC, $3.56, -20.71 pct
The grocery chain operator's shares poised for their worst day since August 2014 after the company prices a secondary offering of 3.5 million shares at $3.50, a 22 percent discount to Monday's $4.49 last sale. Funds controlled by Willis Stein and Partners cut their stake to 8.3 percent from 15.4 percent.
** VERTEX ENERGY INC, $2.5, -24.92 pct
The company, which recycles industrial waste, reported lower-than-expected first-quarter revenue on Monday, hurt by a decline in oil prices. Vertex also reported a net loss, compared with a profit a year earlier.
** TAKE-TWO INTERACTIVE SOFTWARE INC, $27.87, +15.17 pct
The company's quarterly profit handily beat market estimates, helped by strong digital sales of its video games and the continued success of the "Grand Theft Auto V" and "NBA 2K15" titles.
** TURQUOISE HILL RESOURCES LTD, $4.56, +4.59 pct
Mongolia and Rio Tinto have reached agreement to resume work on Oyu Tolgoi project, in which Turquoise Hill owns a 66 percent stake.
** RED ROBIN GOURMET BURGERS INC, $79.53, +9.02 pct
The restaurant operator reported a better-than-expected first-quarter profit, helped by lower labor costs. The company-owned same-restaurant sales rose 3.1 percent, compared with the average analyst estimate of a 2.3 percent rise.
** YINGLI GREEN ENERGY HOLDING CO LTD, $0.8609, -42.22 pct
The Chinese solar company's shares were down for the second day. Yingli late on Friday flagged its inability to continue as a "going concern" due to substantial indebtedness.
** HEALTHWAYS INC, $16.2505, -4.07 pct
Stifel Nicolaus downgrades the stock to "hold" from "buy" to reflect uncertainty created by the removal of CEO Ben Leedle with no immediate successor. "Lack of a CEO could spook current customers and/or delay prospects currently in the pipeline," analysts write.
** ATLAS RESOURCE PARTNERS LP, $7.68, -8.57 pct
The oil and gas producer priced an offering of 6.5 million common units, representing limited partner interests, at $7.97 per unit, a 5.1 percent discount to Monday's close. The offering represents about 7.5 percent of total outstanding shares as of May 4, according to Thomson Reuters data.
** DICK'S SPORTING GOODS INC, $54.28, -3.57 pct
The sporting goods retailer forecast second-quarter same-store sales to be flat to 2 percent up, compared with 3.2 percent growth a year earlier. The company reported first-quarter same-store sales growth below analysts' expectations, hurt by a bigger-than-expected drop in same-store sales at its Golf Galaxy business.
** HARVEST NATURAL RESOURCES INC, $1.18, -18.06 pct
The oil and gas producer says cash and cash-equivalents at the end of the first quarter were down about 78.5 percent at $1.4 million, compared with a year earlier. The company has been trying to sell its stake in its joint venture with Venezuelan state oil company PDVSA.
** BHP BILLITON PLC, $46.04, -4.82 pct
J.P. Morgan Securities cut its price target on BHP's London-listed stock to 1,425 pence from 1,600 pence. The company faces a shortfall of $6 billion between its free cash flow and dividend for 2015-2016, JP Morgan analysts wrote in a note.
** TJX COS INC, $69.97, +4.03 pct
The owner of off-price chains TJ Maxx and Marshalls raised its full-year profit and comparable sales forecast, encouraged by more bargain-hungry shoppers visiting its stores.
** PLUG POWER INC, $2.6689, +3.45 pct
The fuel-cell maker said a retailer was set to use its flagship GenKey system, a pollution-free alternative to power forklifts, in its new distribution warehouse near Toledo, Ohio.
** MBIA INC, $9.2, -6.22 pct
Private equity firm Warburg Pincus LLC, MBIA's largest shareholder, is selling 27.3 million shares of the company, representing about 60 percent of its stake.
** LINN ENERGY LLC, $11.299, -8.95 pct
** LINNCO LLC, $11, -5.25 pct
Linn Energy and subsidiary LinnCo down after Linn Energy launched a public offering of 16 million units on Monday. The offering was priced at $11.79, a 5 percent discount to the Linn Energy stock's Monday close.
** VODAFONE GROUP PLC, $35.1199, -3.81 pct
Britain's Vodafone posted a rise in quarterly sales for the first time in nearly three years on Tuesday in the clearest sign yet that Europe's mobile market is edging towards recovery.
** RIO TINTO PLC, $44.17, -3.22 pct
Mongolia and Rio Tinto have reached an agreement paving the way for work to resume on a stalled $5 billion underground copper mine that is expected to drive growth for both the country and the global miner.
** MECHEL OAO, $1.24, -4.62 pct
Russia's top lender, Sberbank, has filed a lawsuit against mining company Mechel for 3.8 billion roubles ($77.74 million), the Moscow Arbitration Court reported on Tuesday. (Compiled by Kshitiz Goliya in Bengaluru; Edited by Maju Samuel)