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. stocks fell sharply on Tuesday, with Microsoft and Caterpillar shares tumbling after quarterly results, while an unexpected decline in durable goods orders also weighed on sentiment. The Dow Jones industrial average was down 1.30 percent at 17,448.64, the S&P 500 was down 0.89 percent at 2,038.74 and the Nasdaq Composite was down 1.24 percent at 4,712.732.
** MICROSOFT CORP, $43.1333, -8.25 pct
** INTEL CORP, $34.39, -3.95 pct
Microsoft, the world's largest software company, on Monday reported a fall in its quarterly profit that was in line with Wall Street forecasts, as sluggish personal computer sales dampened demand for Windows software and the company struggled with the impact of the strong U.S. dollar.
** NF ENERGY SAVING CORP, $2.1839, +49.53 pct
The Chinese energy conservation products maker will supply equipment to China-based Gansu Coal Group's $481 million power project.
** CATERPILLAR INC, $79.63, -7.44 pct
** TEREX CORP, $22.44, -4.59 pct
** MANITOWOC CO INC, $19.01, -5.09 pct
** JOY GLOBAL INC, $41.34, -5.21 pct
Caterpillar on Tuesday warned the recent fall in oil prices would hurt its energy equipment business in 2015 and gave an outlook for the year below market expectations after posting a disappointing fourth-quarter net profit.
** STAAR SURGICAL CO, $5.64, -23.37 pct
The implantable contact lens maker estimated revenue of about $16.6 million for the fourth quarter ended Jan. 2, below the average analyst estimate of $20.26 million.
** J & J SNACK FOODS CORP, $98.17, -14.35 pct
KeyBanc Capital Markets downgraded the stock to "hold" from "buy".
** COURIER CORP, $23.28, +19.08 pct
** RR DONNELLEY & SONS CO, $16.37, -2.27 pct
Book publisher Courier Corp received a non-binding, unsolicited offer from printer and printing services company RR Donnelley to buy the company for $23 per share cash or RR Donnelley stock.
** LATTICE SEMICONDUCTOR CORP, $7.1445, +8.41 pct
** SILICON IMAGE INC, $7.27, +23.22 pct
Connectivity chip maker Lattice said it would buy Silicon Image to gain technology that connects smartphones and tablets to TVs and digital projectors.
** FACEBOOK INC, $76.077, -1.83 pct
The world's largest social network and its Instagram photo-sharing site suffered temporary outages around the world for up to an hour on Tuesday and the company said later that an internal software networking error was to blame.
** TE CONNECTIVITY LTD, $64.56, +2.22 pct
** COMMSCOPE HOLDING CO INC, Monday close $21.61, +18.96 pct premarket
Swiss electronics company TE Connectivity is said to be nearing a deal to sell its network equipment unit to CommScope for about $3 billion, the Wall Street Journal reported, citing people familiar with the matter.
** PROCTER & GAMBLE CO, $86.31, -3.65 pct
The world's largest household products maker said on Tuesday that impact from a strong dollar would hurt earnings this fiscal year, with full year net sales likely to fall 3 to 4 percent.
** FIRST CASH FINANCIAL SERVICES INC, $51.5, -7.39 pct
The pawn store operator expects 2015 earnings of $2.75 to $2.90 per share from continuing operations; below the average analyst estimate of $3.18.
** SELECT COMFORT CORP, $30.615, +4.10 pct
Stifel, Nicolaus & Co raised its rating to "buy" from "hold" on the stock. "... Company's marketing message and product innovations are continuing to generate strength that was clearly visible in the 3Q print," analyst John Baugh wrote in a note.
** AK STEEL HOLDING CORP, $4.29, +5.93 pct
The fourth-largest U.S. steelmaker by market capitalization reported a better-than-expected quarterly profit, helped by strong demand from automakers.
** ALIBABA GROUP HOLDINGS LTD, $102.59, -1.35 pct
Chinese actress Zhao Wei has taken a major stake in Alibaba's film division, bringing some star power to a company that warned on Monday it could rack up losses of as much as $77.41 million for 2014.
** NOVARTIS AG, $99.15, +2.76 pct
The Swiss drugmaker forecast sales and profits to grow at a faster pace this year as recent drug successes and its portfolio overhaul help it weather the impact of generic competition.
** PHILIPS, $28.68, -5.38 pct
The Dutch healthcare and lighting company reported a big drop in fourth-quarter profits and said it was unlikely to hit its financial targets for the next two years.
** YAHOO INC, $48.42, -2.06 pct
The online search and advertising company's shares are expected to move nearly twice as much as they have following other recent earnings reports when the company announces fourth-quarter results, options data showed.
** DUPONT, $72.92, -1.61 pct
The chemical company forecast 2015 operating earnings of $4-$4.20 per share, including its performance chemicals unit, below the average analyst estimate of $4.46 per share, according to Thomson Reuters I/B/E/S.
** FREEPORT-MCMORAN INC, $18.66, -4.60 pct
The U.S. miner reported a huge fourth-quarter loss on impairment charges on Tuesday and said it is taking actions to reduce or defer capital expenditures and other costs amid a slump in commodity prices.
** 3D SYSTEMS CORP, $28.91, -4.27 pct
Jefferies & Co downgraded the stock to "hold" and cut its price target to $30 from $42.
** PEABODY ENERGY CORP, $6.335, -5.02 pct
The coal miner sees demand in the United States to decline in 2015, mainly due to lower natural gas prices.
** LOCKHEED MARTIN CORP, $192.88, -1.43 pct
The weapons maker forecast 2015 profit below analysts' average estimate and said revenue could fall as much as 4.6 percent.
** SEABRIDGE GOLD INC, $9.5, +6.38 pct
** IAMGOLD CORP, $2.89, +3.21 pct
** AGNICO EAGLE MINES LTD, $34.19, +4.52 pct
** HARMONY GOLD MINING CO LTD, $3.08, +4.76 pct
** ENDEAVOUR SILVER CORP, $3, +5.26 pct
** FIRST MAJESTIC SILVER CORP, $6.44, +4.38 pct
Gold edged up after two sessions of losses, as the dollar and shares eased ahead of a U.S. Federal Reserve policy meeting that may push back expectations for when U.S. interest rates will start to rise.
** KLA-TENCOR CORP, $63.86, -2.41 pct
Exane BNP Paribas cut its rating on the stock to "neutral" from "outperform" and said the company's forecast of orders for the first half of 2015 staying flat with the second half of 2014 leaves "little room for upside surprise in the short term".
** MAGNUM HUNTER RESOURCES CORP, $2.07, +7.81 pct
** ENERGY XXI LTD, $3.05, +8.54 pct
** HALCON RESOURCES CORP, $1.45, +2.84 pct
** GOODRICH PETROLEUM CORP, $2.87, +5.13 pct
** REX ENERGY CORP, $3.28, +3.80 pct
** SANCHEZ ENERGY CORP, $11, +2.90 pct
Oil rises as a weaker dollar props up commodities priced in the currency. (Compiled by Anet Josline Pinto in Bengaluru; Edited by Maju Samuel)