BUZZ-U.S. STOCKS ON THE MOVE-Alibaba, GE, Automakers, Fossil, Steel companies

Wed Aug 12, 2015 8:32am EDT
 
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(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 e-mini futures fell on Wednesday after China pushed the yuan lower again overnight, hitting companies with a big exposure to the world's No. 2 economy and adding to worries about the global economic outlook. The currency adjustment by the world's top metals consumer also hit commodity prices.

Dow Jones industrial average futures were down 0.69 percent at 17,235, S&P 500 futures were down 0.65 percent at 2,066.25 and Nasdaq 100 futures were down 0.71 percent at 4,478.75.

** ALIBABA GROUP HOLDING LTD, Tuesday close $77.34, -4.46 pct premarket

China's biggest e-commerce company's quarterly revenue rose 28 percent, missing analysts' estimates, with growth slowing to its lowest rate in more than three years.

** GOOGLE INC, Tuesday close $690.3, +0.93 pct premarket

Morgan Stanley upgraded the stock to "overweight" and set an $820 price target, saying the Alphabet disclosure will highlight the strength of its core business.

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