BUZZ-U.S. STOCKS ON THE MOVE-Caterpillar, Google, Apple, Terex, Exxon
(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) All three major U.S. stock indexes were down more than 1 percent on Tuesday for the first time in over a month as China's surprise devaluation of the yuan stoked fears about the health of the economy and pressured commodity-related stocks.
The Dow Jones industrial average was down 1.42 percent at 17,365.4, the S&P 500 was down 1.25 percent at 2,077.85 and the Nasdaq Composite was down 1.70 percent at 5,015.31.
** GOOGLE INC A, $686.985, +3.60 pct
** GOOGLE INC C, $655.67, +3.46 pct
The company overhauled its operating structure, creating a holding company called Alphabet to pool its many subsidiaries and separate the core web advertising business from newer ventures like driverless cars.
** APPLE INC, $113.5, -5.20 pct
Jefferies cut its price target on Apple to $130 from $135 on Monday, citing uncertain demand for the iPhone and a loss in investor confidence in the company's ability to grow. Apple's future growth depends on emerging markets such as China, analysts have said. Continued...