(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. stocks were marginally higher in volatile trading on Wednesday as investor worries about corporate earnings grew and a rally in crude oil prices ended. The Dow Jones industrial average was up 0.23 percent at 16,828.17, the S&P 500 was up 0.31 percent at 1,986 and the Nasdaq Composite was up 0.20 percent at 4,757.688.
** YUM BRANDS INC, $67.9, -18.60 pct
** MCDONALD‘S CORP, $101.29, -0.60 pct
Yum Brands, the owner of KFC, Taco Bell and Pizza Hut restaurants, lowered its full-year earnings per share outlook, citing slower-than-expected China sales recovery and stronger forex headwinds.
McDonald’s also has significant exposure to China.
** RIO TINTO, $38.09, +7.54 pct
** BHP BILLITON, $34.23, +4.71 pct
Morgan Stanley upgraded the miners’ stocks to “overweight” from “equal-weight”, saying it was bullish on European miners as a whole due to their exposure to China.
** NU SKIN ENTERPRISES INC, $34.63, -25.64 pct
** HERBALIFE LTD, $52.42, -10.05 pct
Nu Skin, a direct seller of skin care and nutritional products, cut its revenue estimate for the third quarter, blaming a strong dollar and weak sales of its cosmetic oils in China.
The company’s weak forecast also took a toll on the stock of larger rival Herbalife.
** GOPRO INC, $28.3102, -7.63 pct
Morgan Stanley nearly halved its price target on the company’s stock, citing weak demand for new cameras.
** PANDORA MEDIA INC, $20.93, -4.78 pct
Pandora agreed to buy online ticketing agency Ticketfly for about $450 million in cash and stock.
** REPUBLIC AIRWAYS HOLDINGS INC, $5.815, -7.40 pct
The airline operator said it was aware of a complaint filed by Delta Air Lines Inc, but added that it has not received the full complaint. The company said it has not breached capacity purchase agreements with any of its mainline partners.
** CONTRAVIR PHARMACEUTICALS INC, $3.15, -21.05 pct
The drug developer priced its share offering at a discount and said it will use the net proceeds to fund drug development.
** TESLA MOTORS INC, $232.199, -3.84 pct
Baird Equity Research downgraded the stock and cut its price target, citing uncertainty over the ramping up of Model X SUV’s production, given the complexity of the vehicle.
** ADOBE SYSTEMS INC, $79.22, -6.96 pct
The photoshop maker lowered its profit forecast for 2016 due to a strong dollar.
** NEONODE INC, $2.2, -16.35 pct
The touch-screen technology provider forecast third-quarter revenue below analysts’ estimate. The company also priced an offering at a 27.8 percent discount to its Tuesday close.
** AXION POWER INTERNATIONAL INC, $1.24, -32.97 pct
The lead-carbon battery maker said Shanghai-based LCB International Inc indicated an unwillingness to move forward with a deal. Axion signed a binding letter of intent for technology development and licensing program with LCB in June.
** PURE STORAGE INC, $16.145, -5.03 pct
Shares of data storage company were trading below their IPO price of $17 in their market debut on Wednesday.
** ARCELORMITTAL SA, $6.26, +7.75 pct
The steel producer said it is to transfer its shareholding in three of its Algerian units to state-owned company IMETAL. The company said the transfer follows the Algerian government’s move to promote its national steel industry.
** TECK RESOURCES LTD, $6.665, +12.02 pct
Franco-Nevada Corp said it agreed to pay the miner $610 million to help fund operations at the Antamina mine in Peru in exchange for a share of silver production.
** FREEPORT-MCMORAN INC, $12.94, +9.38 pct
The U.S. mining and energy company added two new directors to board under an agreement with largest shareholder Carl Icahn.
** LUMINEX CORP, $17.9101, +8.48 pct
The U.S. Food and Drug Administration approved the company’s molecular diagnostics system and test for herpes virus.
** SUNEDISON INC, $9.29, +6.90 pct
The solar company said it would cut costs and streamline operations, putting it on track to be cash positive throughout next year.
** GENOCEA BIOSCIENCES INC, $6.4173, +8.77 pct
The immunotherapy developer announced positive data on genital herpes immunotherapy, GEN-003, from an ongoing mid-stage study.
** LION BIOTECHNOLOGIES INC, $6.2638, +11.26 pct
The biotechnology company said it obtained an exclusive license from the National Institutes of Health (NIH) to develop and market its cell therapy technology in four additional tumor indications.
** FIAT CHRYSLER AUTOMOBILES NV, $14.605, +2.49 pct
The carmaker will halt production of its Maserati Ghibli and Quattroporte sedans at a plant near Turin during the first week of November to adjust output to market conditions, a company source said.
** GLOBAL PAYMENTS INC, $124.96, +8.31 pct
The payments processor posted better-than-expected quarterly profit and raised its full-year 2016 profit forecast. The company also announced a 2-for-1 stock split.
** TWITTER INC, $29.23, +5.83 pct
Saudi Arabian billionaire Prince Alwaleed bin Talal and his investment firm Kingdom Holding increased their stake in the microblogging site and now together own more than 5 percent of the company’s stock.
** MEETME INC, $1.9, +14.46 pct
The social game and app maker forecast third-quarter revenue above analysts’ estimate. (Compiled by Arunima Banerjee in Bengaluru; Editing by Anil D‘Silva)