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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.
** MICROSOFT CORP, Tuesday close $44.3, -0.77 pct premarket
The world’s largest software company plans to announce a new round of layoffs as early as Wednesday as it tries to cut costs further, the New York Times reported.
** SYMANTEC CORP, Tuesday close $22.79, +3.20 pct premarket
** CARLYLE GROUP LP, Tuesday close $27.94
Software security company Symantec is in talks to sell its Veritas data storage business to private equity firm Carlyle Group, a person familiar with the matter said on Tuesday.
** JPMORGAN CHASE & CO, Tuesday close $66.8, -0.97 pct premarket
The bank has agreed to pay at least $125 million to settle probes by U.S. state and federal authorities that it sought to improperly collect and sell consumer credit card debt, according to people familiar with the matter.
** POTASH CORP OF SASKATCHEWAN INC, Tuesday close $30.18, -1.42 pct premarket
The Canadian company is confident that K+S AG shareholders would accept its $8.7 billion bid, but is open to raising it if its German rival could reveal more value, the Globe and Mail reported, citing a source close to the deal.
** MONSANTO CO, Tuesday close $107.8
** SYNGENTA AG, Tuesday close $83.04, -2.14 pct premarket
Monsanto believes offering a higher break-up fee to Syngenta if its $45 billion takeover approach does not go ahead would be counterproductive, Chief Executive Hugh Grant told a Swiss newspaper.
** PEABODY ENERGY CORP, Tuesday close $1.79, +2.23 pct premarket
The coal miner said the Wyoming authorities had reaffirmed that all three of its coal mines in the state were eligible for “self-bonding” - a government program giving coal miners a discount on insuring their clean-up costs in case of bankruptcy.
** CONTAINER STORE GROUP INC, Tuesday close $17.5, +6.57 pct premarket
Three brokerages raised price targets on company’s stock by as much as $2 to as much as $20, after the company reported a smaller-than-expected Q1 loss on Tuesday.
** FORD MOTOR CO, Tuesday close $14.85, -1.08 pct premarket
The company is looking to a raft of new sedan and SUV launches in China later this year to regain momentum in the world’s largest auto market, after its sales barely grew in the first half of 2015.
** HUMANA INC, Tuesday close $187.1, -0.86 pct premarket
** AETNA INC, Tuesday close $115.33, -0.15 pct premarket
Health insurer Humana and buyer Aetna set fees to be paid in the event of a failure of the largest deal in the health insurance industry.
Aetna, which said last week it would buy Humana for about $37 billion in cash and stock, has to pay a termination fee of $1.69 billion, Humana said in a regulatory filing on Tuesday.
** UIL HOLDINGS CORP, Tuesday close $47
Spanish power group Iberdrola will set out a new proposal for its $3 billion takeover of U.S. firm UIL Holdings, the two companies said on Tuesday, as they seek to address objections raised by a Connecticut antitrust watchdog.
** PVH CORP, Tuesday close $115.74
** MACY’S INC, Tuesday close $68.02
PVH said it would wind down the production of Donald Trump’s menswear after exclusive retail partner Macy’s decided to stop selling his products in protest against racist remarks made by the real estate tycoon.
** FACEBOOK INC, Tuesday close $87.22, -1.09 pct premarket
The company announced plans on Tuesday to build a new data center in Fort Worth, Texas, its fourth in the United States and fifth overall.
** BB&T CORP, Tuesday close $40.34
** SUSQUEHANNA BANCSHARES INC, Tuesday close $14.21
The Federal Reserve Board approved BB&T’s $2.5 billion acquisition of Susquehanna Bancshares, signaling a softening stance on finance M&A.
** BARCLAYS PLC, Tuesday close $16, +0.06 pct premarket
The British bank has ousted Chief Executive Antony Jenkins after three years in the post, saying on Wednesday it had decided new blood would help accelerate strategic change and boost shareholder returns.
** CVS HEALTH CORP, Tuesday close $106.38, -1.30 pct premarket
The No. 2 U.S. drugstore chain said it was withdrawing its membership from the U.S. Chamber of Commerce after media reports that the trade group was lobbying globally against anti-smoking laws.
** FIAT CHRYSLER AUTOMOBILES NV, Tuesday close $14.12, -3.12 pct premarket
** CNH INDUSTRIAL NV, Tuesday close $8.96
Carmaker Fiat and tractor manufacturer CNH Industrial signed a four-year labor deal for workers in Italy on Tuesday, in a sign of improving relations with unions.
Compiled by Anet Josline Pinto in Bengaluru; Editing by Simon Jennings