BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Container Store, Oculus Innovative
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U.S. stocks were set to open lower on Wednesday as Chinese markets slid further and as investors continue to keep a wary eye on developments in the Greek debt crisis. Dow Jones industrial average e-mini futures were down 0.76 percent at 17,545, S&P 500 futures were down 0.74 percent at 2,058.5 and Nasdaq 100 futures were down 0.74 percent at 4,389.5.
** TESLA MOTORS INC, Tuesday close $267.88, -2.45 pct premarket
Analysts at Pacific Crest cut their rating on the company's stock to "sector weight" from "overweight" on valuation.
"From root-level technology and manufacturing all the way to sales and marketing, Tesla's differentiation relative to its peer group is nothing short of total," analyst Brad Erickson wrote in a note. "We simply believe the stock price now more fully reflects these core attributes," he added.
** OCULUS INNOVATIVE SCIENCES INC, Tuesday close $1.5, +10.00 pct premarket
The company, which develops solutions to treat dermatological conditions, said it was awarded a U.S. patent for the use of the Microcyn Technology hypochlorous acid in the treatment and mitigation of atopic dermatitis. Continued...