(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) Wall Street was lower on Tuesday as weak revenue at IBM and United Technologies weighed. The Dow Jones industrial average was down 1.09 percent at 17,902.88, the S&P 500 was down 0.38 percent at 2,120.16 and the Nasdaq Composite was down 0.26 percent at 5,205.502.
** TESLA MOTORS INC, $270.13, -4.30 pct
Analysts at UBS downgradSe the third rating cut on Tesla this month (Deutsche Bank and StarMine 4-star ranked Pacific Crest earlier). UBS says energy storage business cheered on by investors and is unlikely to live up to expectations. Meanwhile theinformation.com blog writes about cash burn at Tesla, adding the company might have to raise funds again (link: bit.ly/1TNLQgu).
** UNITED TECHNOLOGIES CORP, $101.99, -7.68 pct
The company which agreed on Monday to sell its Sikorsky helicopter business, cut its full-year profit outlook on Tuesday as it warned of pressures in its aerospace systems and Otis elevators businesses.
** INTERNATIONAL BUSINESS MACHINES CORP, $163.25, -5.76 pct
The technology services company’s revenue fell for the 13th consecutive quarter and missed the average analyst estimate, as it continued to shed low-margin businesses and the strong dollar weighed on Big Blue’s results.
** UNITED NATURAL FOODS, $53.57, -14.34 pct
At least six brokerages cut price targets, with lowest Price Target at $60, after company says terminating contract with supermarket operator Albertsons Cos Inc in September, before the original contract ending date in 2016.
** EXACT SCIENCES CORP, $25.2794, -6.48 pct
The medical diagnostic test maker says underwriters Jefferies and Robert W. Baird reoffering 7 mln shares to the public at $25.50 per share, a 5.7 pct discount to Monday’s close.
** SIBANYE GOLD LTD, $5.8, +4.13 pct
** AGNICO EAGLE MINES LTD, $23.75, +4.53 pct
** ELDORADO GOLD CORP, $3.33, +3.42 pct
** YAMANA GOLD INC, $2.195, +3.54 pct
** BARRICK GOLD CORP, $7.64, +3.10 pct
** SILVER STANDARD RESOURCES INC, $5.61, +3.70 pct
** FIRST MAJESTIC SILVER CORP, $3.93, +6.79 pct
** HECLA MINING CO, $2.16, +4.35 pct
Shares of gold and silver miners up on Tuesday. Gold stabilised on Tuesday, holding just above 5-year low; investors still see further falls day after metal tumbled 4 pct. Spot gold XAU= rose as much as 1.2 pct to $1109.47/ounce by 10:45 a.m. ET while Silver prices XAG= rises as much as 1.8 pct to $14.92.
** CAESARS ENTERTAINMENT CORP, $7.928, +21.04 pct
The company reached an agreement with its lenders late on Monday night, hours after a New York state court judge threw out a lawsuit by the casino company against a group of creditors known as the second-lien noteholders.
** CYTRX CORP, $2.9899, -21.32 pct
The drug developer’s 9.1 mln stock offering priced at $2.75 per share, a 27.6 percent discount to the stock’s last close.
** LEXMARK INTERNATIONAL INC, $37.12, -21.56 pct
The printer maker said it would cut 500 jobs, or about 4 percent of its global workforce, as the company integrates its recently acquired businesses and tries to soften the impact of a strong dollar.
** CHESAPEAKE ENERGY CORP, $9.65, -6.04 pct
The second-largest U.S. natural gas producer said it would suspend dividend payments starting in the current quarter to save up to $240 million a year.
** HARLEY-DAVIDSON INC, $57.11, +3.95 pct
The motorcycle maker’s profit, revenue for the second quarter beat average analyst estimate despite lower motorcycle shipments, currency pressures
** INFOSYS LTD, $17.48, +10.84 pct
India’s second-largest software services exporter reported a 5 percent increase in quarterly net profit, bolstered by a surge in demand for IT outsourcing services from clients in the United States, its biggest market.
** HALLIBURTON CO, $42.29, +3.86 pct
Analysts at Cowen and Co raises price target on the world’s No.2 oilfield services provider to $50 from $48, Stephens raises to $58 from $54 after the company reported better-than-expected Q2 profit on Monday, helped by cost cuts and strong international margin.
** FACEBOOK INC, $98.5403, +0.64 pct
Analysts at BofA-Merrill add stock to US 1 list, collection of firm’s top ideas, maintain $105 price target. Analysts cite growing time share in mobile category, and see potential upside to revenue estimate with improving ad targeting, video traction, Instagram ad ramp and growth of new platforms.
** QUALCOMM INC, $65.24, +2.27 pct
The company is expected to conduct a strategic review that may result in the breakup of the company, among other options, the Wall Street Journal reported on Monday, citing sources.
** CANADIAN NATIONAL RAILWAY CO, $61.24, +2.08 pct
Canada’s biggest railway reported stronger-than-expected second-quarter earnings and said it continues to expect double-digit growth in earnings per share for the full year on Monday, even as shipment volume slipped. (Compiled by Rosmi Shaji in Bengaluru; Edited by Don Sebastian)