(For faster updates on individual market-movers, Eikon users please use search string “STXBZ US”) Wall Street open lower on Tuesday, weighed down by a 6 percent slump in Chinese shares and Wal-Mart’s weaker-than-expected quarterly results.
The Dow Jones industrial average was down 0.08 percent at 17,530.78, the S&P 500 was down 0.17 percent at 2,098.78 and the Nasdaq Composite was down 0.30 percent at 5,076.294.
** WAL-MART STORES INC, $69.83, -2.89 pct
The world’s No.1 retailer reported weaker-than-expected quarterly earnings and lowered its full-year forecast on Tuesday, citing investments in staffing and weaker margins in its U.S. pharmacy business.
** HOME DEPOT INC, $123.03, +2.78 pct
The world’s No.1 home improvement retailer reported a better-than-expected rise in quarterly same-store sales, helped by increased home remodeling activity in the United States and a recovery in the housing market.
** WALT DISNEY CO, $107.29, -1.61 pct
** CBS CORP, $49.07, -1.92 pct
** TWENTY-FIRST CENTURY FOX, $30.225, -1.00 pct
** CLEAR CHANNEL OUTDOOR, $8.25, -5.93 pct
** TEGNA INC,$25.36, -1.63 pct
** OUTFRONT MEDIA INC, $23.81, -2.90 pct
Wells Fargo downgraded the stock of all six media company’s to “market perform”.
** TJX COS INC, $75.85, +5.92 pct
The owner of off-price retailers TJ Maxx and Marshalls reported a better-than-expected rise in quarterly comparable store sales as more bargain-hungry shoppers visited its outlets.
** OMEROS CORP, 27.83, +91.27 pct
The drugmaker reported additional positive data from a dose-ranging study of its experimental drug, codenamed OMS721.
** CELSUS THERAPEUTICS PLC, $1.07, +75.38 pct
The drug developer and its unit Volution Immuno Pharmaceuticals reached an agreement for a $75 million private placement with an investor group.
** AMIRA NATURE FOODS LTD, $5.53, -26.85 pct
BMO downgraded the basmati rice distributor’s stock to “market perform” from “outperform”
** PARKER DRILLING CO, $2.96, +19.84 pct
Evercore ISI upgraded the stock to “buy” from “hold”, stating that company had been “unfairly lumped” into oilfield services sell-off. “Parker is severely undervalued and we wouldn’t be surprised to see the company potentially go private in a few years time,” the brokerage said.
** EVOKE PHARMA INC, $5.99, +29.37 pct
The specialty drug developer said U.S. FDA waived pediatric studies for its drug to treat diabetic gastroparesis on basis that the disease affects adults.
** BB&T CORP, $39.79, -1.00 pct
** NATIONAL PENN BANCSHARES, $12.7, +16.30 pct
The financial services holding company said it would buy National Penn Bancshares Inc in a cash-and-stock deal for about $1.8 billion to expand in the U.S. Mid-Atlantic region.
** THERAVANCE BIOPHARMA INC, $13.335, +10.39 pct
The biotechnology company’s chief executive and chief financial officers disclosed open-market purchase of Theravance shares.
** AEGEAN MARINE PETROLEUM NETWORK INC, $9.25, -17.78 pct
The marine fuel and lubricant supplier reported much lower-than-expected second quarter profit as sales of marine petroleum products fell 30 pct to $1.2 million.
** SPRINT CORP, $4.685, +1.85 pct
SoftBank Group Corp, Sprint’s majority shareholder, bought 16.8 million more shares in the company for nearly $73 million.
** LUMBER LIQUIDATORS, $15.05, +6.59 pct
The flooring retailer, battling allegations that its laminates from China had excessive levels of cancer-causing formaldehyde, said it hired Jill Witter as its chief compliance and legal officer.
** WELLCARE HEALTH PLANS INC, $95.49, +6.44 pct
** MAGELLAN HEALTH INC, $58.25, +4.22 pct
** UNITEDHEALTH GROUP, $125.71, +1.53 pct
** ANTHEM INC, $153.9, +1.32 pct
Iowa announced awards for its $4 billion Medicaid RFP (Request for Proposal) on Monday, Jefferies said. While MGLN wasn’t selected, the brokerage says the stock’s recent weakness suggests this was largely discounted.
UnitedHealth, Anthem and WellCare Health were among the winners, with WellCare’s profit expected to be impact the most, Jefferies said.
** NEUROMETRIX INC, $1.03, +10.75 pct
A clinical trial showed the medical technology company’s over-the-counter wearable pain device, Quell, improved chronic pain and overall health in 81 percent of the patients who used the device.
** ALIBABA GROUP HOLDING LTD, $74.89, -0.40 pct
** JD.COM INC, $26.9199, -1.50 pct
** TARENA INTERNATIONAL INC, $12.03, -5.94 pct
** YY INC, $61.18, -2.32 pct
** CHEETAH MOBILE INC, $21.95, -2.40 pct
The stocks of U.S.-listed Chinese companies were affected as Chinese stocks plunged more than 6 percent on Tuesday, their biggest fall in three weeks, on speculation the central bank may be in no rush to ease policy further and on concerns a further weakening in the yuan would hit importers.
** CENTURY ALUMINUM CO, $5.207, -10.61 pct
** TECK RESOURCES LTD, $6.54, -6.17 pct
** FREEPORT-MCMORAN INC, $9.93, -3.03 pct
** CLIFFS NATURAL RESOURCES INC, $3.48, -7.20 pct
** ALUMINUM CORP OF CHINA LTD, $9.11, -5.69 pct
** FIRST MAJESTIC SILVER CORP, $3.82, -4.74 pct
** COEUR MINING INC, $3.61, -8.14 pct
** BARRICK GOLD CORP, $7.64, -2.92 pct
The U.S.-listed shares of metal miners were down after metal prices dropped to multi-year lows on worries about weak demand growth from top consumer China.
** SUNEDISON INC, $14.49, -1.29 pct
The U.S. solar company said it would now sell 650,000 convertible preferred shares, up from 500,000 it planned earlier.
** ESPERION THERAPEUTICS INC, $71.51, -5.30 pct
The drug developer said the development of its cholesterol drug development was on track and that the FDA did not need an additional heart risk trial.
** JUNO THERAPEUTICS, $43.89, +5.61 pct
FBR Capital Markets started coverage of the immunotherapy developer’s stock with an “outperform” rating, according to StreetInsider.com
** SANDISK CORP, $57.17, -1.77 pct
Bank of America Merrill Lynch cuts its rating on the memory chip maker’s stock to “underperform”, according to theflyonthewall.com
** NN INC, $25.52, +4.33 pct
The metal bearing components maker said it agreed to buy Precision Engineered Products Holdings Inc for $615 million in cash to expand in medical, electrical, and aerospace end markets.
** VERA BRADLEY INC, $10.14, -7.40 pct
Jefferies cut its rating on the handbag and accessories maker’s stock to “hold” from “buy” and lowered its target price to $11 from $18.
** DICK’S SPORTING GOODS INC, $51.66, +1.89 pct
The sporting goods retailer reported better-than-expected second quarter profit, helped by higher online sales and improved margins.
** SS&C TECHNOLOGIES HOLDINGS INC, $71.97, +3.66 pct
The financial technology provider said it is buying Citigroup’s alternative investor services business for $425 million, subject to adjustments. (Compiled by Sruthi Shankar in Bengaluru; Editing by Savio D’Souza)