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U.S. stock indexes tumbled on Monday, the first trading day of 2016, with the Dow set for its worst start to a year since 1932 - after weak Chinese economic data reignited fears of a global slowdown. The Dow Jones industrial average was down 2.35 percent at 17,016.22, the S&P 500 was down 2.29 percent at 1,997.1 and the Nasdaq Composite was down 2.81 percent at 4,866.923.
** TESLA MOTORS INC, $221.0101, -7.92 pct
The pioneering electric car maker said on Sunday that it delivered 17,400 vehicles in the fourth quarter of 2015, just above the low end of its forecast of 17,000-19,000.
Tesla delivered 208 of its new electric SUV, the Model X, in the quarter, below the expectations of some analysts. Robert W Baird analyst Ben Kallo, who had expected Tesla to deliver about 1,000 Model X cars, said deliveries were lower as “the Model X production ramp began later than we had expected” in the fourth quarter.
** APPLE INC, $104.21, -1.00 pct
** FACEBOOK INC $101.1999, -3.31 pct
** ALPHABET INC $754.665, -3.00 pct
** TWITTER INC $22.29, -3.67 pct
** YAHOO INC, $31.22, -6.13 pct
** AMAZON.COM INC, $635.84, -5.93 pct
U.S. technology companies’ shares fell on Monday after China’s major stock exchanges tanked on the first trading day of the year, triggering a “circuit-breaker”, following the release of weak economic data.
** BAIDU INC, $184.48, -2.41 pct
** JD.COM INC, $29.64, -8.14 pct
** ALIBABA GROUP HOLDING LTD, $75.58, -7.00 pct
** KANDI TECHNOLOGIES GROUP INC, $10.47, -3.95 pct
** JINKOSOLAR HOLDING CO LTD, $26.3, -4.95 pct
U.S.-listed shares of Chinese companies also fell after the rout in the China market.
JinkoSolar shares were hit also by news on Friday that Arturo Herrero, the company’s chief strategy officer of six years, had resigned, effective Monday.
** JOY GLOBAL INC, $12.27, -2.70 pct
** CATERPILLAR INC, $66.71, -1.84 pct
Mining equipment makers’ shares fell as China saw a soggy start to 2016 after activity in its manufacturing sector contracted for the fifth straight month in December, suggesting that the government may have to step up policy support to avert a sharper slowdown. Mining equipment companies have also been hurt by lower demand, poor pricing, an oversupply in the coal industry and slowing global growth.
** NETFLIX INC, $106.64, -6.77 pct
Robert W. Baird & Co cut its rating on the video streaming service provider’s shares to “neutral” from “outperform” and price target to $115 from $128. “Our quarterly U.S. subscriber survey suggests potentially weaker U.S. subscriber results for the second consecutive quarter, and while international may beat, we believe much of that is priced in,” Baird analysts wrote in a note.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $98.46, -3.14 pct
Billionaire investor William Ackman said on Thursday he sold about 5 million shares in the drug company in order to generate a tax loss as investors in his Pershing Square Capital Management face the biggest loss in the company’s history.
** BJ‘S RESTAURANTS INC, $41.63, -4.23 pct
Oppenheimer analysts cut their rating on the casual dining restaurant operator’s stock to “perform” from “outperform”, saying that they don’t expect the company to report comparable sales above analysts’ expectations in 2016.
** BAXALTA INC, $40.53, +3.84 pct
The drugmaker said on Monday that it inked a deal with privately held Symphogen under which the companies would develop immuno-oncology drugs. The agreement holds a total potential value up to 1.4 billion euros ($1.6 billion) in option fees and milestones over the long term, in addition to royalties on worldwide sales, Baxalta said.
** UNILIFE CORP, $0.7782, +57.18 pct
The medical device maker entered into an exclusivity agreement with Amgen Inc, which paid a non-refundable $15 million deposit for an option to negotiate a potential transaction with Unilife until Jan. 31. A potential deal with Amgen could include a license to Unilife’s existing proprietary devices, the purchase of up to 19.9 percent of its common stock, and manufacturing arrangements and rights between the companies.
** PANDORA MEDIA INC, $12.37, -7.76 pct
SunTrust Robinson Humphrey cut its rating on the music streaming company’s shares to “neutral” from “buy” and price target to $15 from $18. “Despite the Copyright Royalty Board decision being behind us, we think the pursuit of new total addressable markets will increase near-term costs and risks, weighing against 2016 and 2017 profits,” analysts wrote in a note.
** PAYPAL HOLDINGS INC, $34.47, -4.78 pct
Monness Crespi Hardt cut its rating on the digital payment company’s stock to “sell” from “neutral”. “The payments space has been far from static over the last six months and we see PayPal’s prospects diminishing relative to the rest of the field,” Monness Crespi analyst James Cakmak wrote in a note.
** WYNN RESORTS LTD, $67.57, -2.34 pct
** LAS VEGAS SANDS CORP, $42.45, -3.17 pct
** MELCO CROWN ENTERTAINMENT LTD, $16.37, -2.56 pct
** MGM RESORTS INTERNATIONAL, $21.89, -3.65 pct
U.S. casino operators’ shares fell after data showed on Friday that 2015 gambling revenue in the Chinese territory of Macau plunged 34.3 pct to 230.84 billion patacas ($28.9 billion). Gambling revenue fell for the second year in a row in 2015, hurt by prolonged anti-corruption campaign and slowing economic growth.
** CHIPOTLE MEXICAN GRILL INC, $449.73, -6.28 pct
Maxim Group cut its price target on the restaurant chain operator’s shares to $435 from $495, while Sterne Agee CRT cut it to $435 from $450. Oppenheimer cuts its rating on the stock to “perform”. “We now contend that a return to positive comps is unlikely before 2017,” Maxim analysts wrote in a note.
** SMITH & WESSON HOLDING CORP, $23.08, +5.00 pct
** STURM RUGER & CO INC $61.06, +2.43 pct
Gun makers’ shares rose as U.S. President Barack Obama will take his case for new gun control measures directly to the American people this week while proposing new executive actions in a final big effort to reduce gun violence during his last year in office.
** HARMONY GOLD MINING CO LTD, $1.04, +11.95 pct
** SEABRIDGE GOLD INC $8.89, +7.24 pct
** ALAMOS GOLD INC, $3.48, +5.78 pct
** IAMGOLD CORP, $1.52, +7.04 pct
** DRDGOLD LTD, $1.69, +5.63 pct
** BARRICK GOLD CORP, $7.68, +4.07 pct
** GOLDCORP INC, $11.72, +1.38 pct
** KINROSS GOLD CORP, $1.865, +2.47 pct
** NEWMONT MINING CORP $18.26, +1.50 pct
** FIRST MAJESTIC SILVER CORP, $3.38, +3.36 pct
** FORTUNA SILVER MINES INC, $2.3, +2.22 pct
Gold and silver prices rallied, buoyed by rising tensions in the Middle East and a sharp drop in stocks following weak Chinese data that fueled concerns over global growth. Gold prices rose as much as 2.2 pct to $1,083.30 an ounce. Silver prices rose as much as 2.9 pct at $14.19 an ounce.
Compiled by Abhirup Roy in Bengaluru; Editing by Kirti Pandey