(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 indexes recovered on Tuesday from a bruising selloff on the first trading day of the year, but early gains evaporated as investors remained wary of a global economic slowdown. The Dow Jones industrial average was down 0.34 percent at 17,090.93, the S&P 500 was down 0.09 percent at 2,010.77 and the Nasdaq Composite was down 0.18 percent at 4,894.408.
** SMITH & WESSON HOLDING CORP, $25.17, +8.12 pct
** STURM RUGER & CO INC, $65.32, +6.40 pct
Gun makers’ shares soared after President Barack Obama unveiled gun control measures and Smith & Wesson released a more bullish financial outlook.
BB&T raised its rating on Smith & Wesson to “buy” from “hold”. Cowen and Co increased its price target to $27 from $25, while Wunderlich raised it to $29 from $25.
BB&T also increased its price target on Sturm Ruger to $70 from $63.
** MANNKIND CORP, $0.9299, -35.87 pct
French drugmaker Sanofi said it would stop selling Afrezza, an inhalable insulin developed by MannKind, following disappointing sales of the product since its launch in February 2015. MannKind said it was reviewing strategic options for Afrezza as a result of the termination of a collaboration.
** PROGRESSIVE WASTE SOLUTIONS LTD, $24.56, +5.82 pct
The Canadian waste management company said it had begun a review of strategic alternatives. The company retained J.P. Morgan Securities LLC as its financial adviser.
** ELI LILLY AND CO, $84.07, +1.45 pct
The drugmaker said the number of patients taking its new diabetes drug, Jardiance, had risen sharply since favorable cardiovascular data was released in November.
** REPUBLIC AIRWAYS HOLDINGS INC, $3.12, -13.81 pct
Deutsche Bank cut its rating on the airline operator’s stock as the company works through a restructuring. “Republic’s negotiations with its major airline partners American, Delta and United about the future ‘size and shape’ of the company drag on into 2016,” analysts wrote in a note.
** GILEAD SCIENCES INC, $98.86, +0.87 pct
The drugmaker said its experimental hepatitis B drug was found safer than but as effective as its approved treatment, Viread, in two late-stage studies.
** FIRST SOLAR INC, $71.79, +7.60 pct
Goldman Sachs analysts raised their rating on the solar panel maker’s stock to “buy” and raised their price target to $100 from $61, citing the company’s strong balance sheet. Analysts said they expected the stock to perform strongly in 2016, with 50 percent upside to their new price target.
** NVIDIA CORP, $33.3, +2.87 pct
The graphics chip maker unveiled a new, lunchbox-size super-computer for self-driving cars and said Volvo Car Group would be the new device’s first customer.
** FAIRCHILD SEMICONDUCTOR INTERNATIONAL INC, $21.24, +3.76 pct
The chipmaker said the revised unsolicited offer it received from China Resources Microelectronics Ltd and Hua Capital Management Co Ltd last week was superior to that of ON Semiconductor Corp. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Kirti Pandey)