August 12, 2015 / 12:36 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Alibaba, GE, Automakers, Fossil, Steel companies

(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. stock index e-mini futures fell on Wednesday after China pushed the yuan lower again overnight, hitting companies with a big exposure to the world's No. 2 economy and adding to worries about the global economic outlook. The currency adjustment by the world's top metals consumer also hit commodity prices.

Dow Jones industrial average futures were down 0.69 percent at 17,235, S&P 500 futures were down 0.65 percent at 2,066.25 and Nasdaq 100 futures were down 0.71 percent at 4,478.75.

** ALIBABA GROUP HOLDING LTD, Tuesday close $77.34, -4.46 pct premarket

China’s biggest e-commerce company’s quarterly revenue rose 28 percent, missing analysts’ estimates, with growth slowing to its lowest rate in more than three years.

** GOOGLE INC, Tuesday close $690.3, +0.93 pct premarket

Morgan Stanley upgraded the stock to “overweight” and set an $820 price target, saying the Alphabet disclosure will highlight the strength of its core business.

** GENERAL MOTORS CO, Tuesday close $30.83, -1.07 pct premarket

** FORD MOTOR CO, Tuesday close $14.7, -1.02 pct premarket

** FIAT CHRYSLER AUTOMOBILES NV, Tuesday close $16.36, -4.16 pct premarket

** CATERPILLAR INC, Tuesday close $78.04, -0.94 pct premarket

Shares of U.S. automakers and industrials fell after China devalued the yuan. The currency move exacerbates fears of a weakening demand and fresh data on Wednesday showed weaker-than-expected growth in China’s July factory output, investment and retail sectors.

** ALCOA INC, Tuesday close $9.48, -1.05 pct premarket

** FREEPORT-MCMORAN INC, Tuesday close $10.22, -0.88 pct premarket

** AK STEEL HOLDING CORP, Tuesday close $3.18, -3.77 pct premarket

** UNITED STATES STEEL CORP, Tuesday close $19.48, -1.90 pct premarket

The yuan devaluation also hit the stocks of metal companies.

** MACYS INC, Tuesday close $67.53, -0.90 pct premarket

The company, which operates Macy’s stores and the Bloomingdale’s chain, reported a 2.6 percent fall in quarterly sales, the fourth drop in six quarters, as spending by foreign tourists declined “significantly” due to a strong dollar.

** SKYWORKS SOLUTIONS INC, Tuesday close $88.97, -3.33 pct premarket

The chipmaker is the most exposed to China among the S&P 500 components, with roughly 83 percent of its revenue coming from the country, according to Goldman.

** WAYFAIR INC, Tuesday close $38.17, +11.37 pct premarket

The online home-furnishing retailer reported a 66.4 percent revenue growth for the second quarter, helped by a 53.5 percent jump in its active customer count. The company said it was helped by an advertising plan that allows it to “attract higher value customers with a propensity for repeat purchases”.

** BARRICK GOLD CORP, Tuesday close $7.68, +2.73 pct premarket

** ELDORADO GOLD CORP, Tuesday close $3.78, +3.17 pct premarket

** KINROSS GOLD CORP, Tuesday close $2.07, +2.90 pct premarket

** GOLDCORP INC, Tuesday close $14.48, +2.21 pct premarket

** GOLD FIELDS LTD, Tuesday close $2.78, +3.96 pct premarket

Gold rose for a fifth session in a row, hitting a fresh three-week high, as China’s currency devaluation sparked fears of a currency war and hit global equities, prompting some investors to seek assets perceived as safer such as gold.

** GENERAL ELECTRIC CO, Tuesday close $25.71, -0.62 pct premarket

** CAPITAL ONE FINANCIAL CORP, Tuesday close $80.87, -0.89 pct premarket

General Electric said it would sell its U.S. healthcare finance unit to the credit card lender for about $9 billion as it winds down its finance arm and returns to its industrial roots.

** AMERICAN APPAREL INC, Tuesday close $0.2099, -19.01 pct premarket

The loss-making teen apparel retailer said it does not expect to have sufficient funds to keep the business running for the next 12 months, warning shareholders may lose some or all of their investments and it may not be able to raise additional capital.

** INC RESEARCH HOLDINGS INC, Tuesday close $48.2, -7.68 pct premarket

The contract drug research company said its secondary offering of 8 million Class A shares by certain stockholders, including affiliates of the investment arm of Ontario Teachers’ Pension Plan Board. The offering is expected to close on Aug. 17.

** FOSSIL GROUP INC, Tuesday close $62.11, -9.02 pct premarket

The watches, jewelry and accessories maker cut its full-year 2015 sales forecast, citing a stronger dollar and cut its profit forecast, citing restructuring charges. The company’s Q2 revenue missed analysts’ expectations due to a strong dollar and weak demand for its watches.

** CDK GLOBAL INC, Tuesday close $48.54, +4.57 pct premarket

The IT provider, which caters to auto dealers, is exploring a sale to private equity firms and is working with Morgan Stanley, Bloomberg reports. (bloom.bg/1TqZ68u)

** FREEPORT-MCMORAN INC, Tuesday close $10.22, -0.88 pct premarket

Freeport-McMoRan has stopped exporting since last month from one of the world’s largest copper mines that it runs in Indonesia, a spokesman said, as the U.S. miner awaits approval from the trade ministry.

** MCDONALD‘S CORP, Tuesday close $98.81, -0.62 pct premarket

The Japan unit of the fast-food chain said it slid deep into losses in the first six months of the year, as customers stayed away after a string of safety scandals and the fast-food chain booked store closure and other restructuring costs.

** WELLS FARGO & CO, Tuesday close $57.21, -1.07 pct premarket

The company may divest its crop insurance business, one of the biggest in the United States, a spokeswoman told Reuters on Tuesday, as regulatory restrictions on U.S. banks force some to reconsider underwriting insurance policies.

** AMAZON.COM INC, Tuesday close $527.46, -0.50 pct premarket

The e-commerce company quietly shuttered a pay-per-click advertising program that allowed businesses to divert traffic from the retailer’s platform to their own websites, saying it would permanently discontinue the program in October.

** FIDELITY NATIONAL INFORMATION SERVICES INC, Tuesday close $65.07, +6.33 pct premarket

The payment services provider said it would buy financial software maker SunGard Data Systems Inc for $9.1 billion, including debt.

** CHS INC, Tuesday close $30.23

** CF INDUSTRIES HOLDINGS INC, Tuesday close $57.27, -0.47 pct premarket

U.S.-based agribusiness CHS said it will invest $2.8 billion in a unit of U.S. fertilizer producer CF. (Complied by Anya George Tharakan in Bengaluru; Editing by Savio D‘Souza)

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