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U.S. stock indexes fell on Tuesday, dragged down by Apple, as Wall Street struggled to recover from Monday's bruising selloff triggered by weak Chinese data that heightened worries about the slowing global economy. The Dow Jones industrial average was down 0.41 percent at 17,078.2, the S&P 500 was down 0.16 percent at 2,009.35 and the Nasdaq Composite was down 0.37 percent at 4,885.023.
** APPLE INC, $102.9325, -2.29 pct
The company is expected to cut the production of its latest iPhone models by about 30 percent in the January-March quarter from its original plans, the Nikkei reported. (s.nikkei.com/1R9rxvj)
** SMITH & WESSON HOLDING CORP, $25.82, +10.91 pct
** STURM RUGER & CO INC, $65.87, +7.30 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, $0.7806, -46.17 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.
** TWITTER INC, $21.92, -2.84 pct
The micro-blogging service provider is building a new feature that will allow users to post messages as long as 10,000 characters, Re/code reported. Twitter, which currently has a 140-character limit, is considering launching the service toward the end of the first quarter, Re/code reported, citing sources familiar with the plans.
** REPUBLIC AIRWAYS HOLDINGS INC, $3.155, -12.85 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.
** ATWOOD OCEANICS INC $9.74, -8.03 pct
KLR Group analysts cut their price target on the offshore drilling company's stock to $10 from $12.50, citing delayed delivery of ultra-deepwater rigs Atwood Admiral and Atwood Archer. They also lowered their 2016 earning per share estimate, citing the delay and lower utilization in 2016 and 2017. "Seven rigs rolling off contract through calendar 2016 leaves heightened risk to cash flow near term," the analysts wrote in a note.
** FIRST SOLAR INC, $71.39, +7.00 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.
** GENERAL STEEL HOLDINGS INC, $3.57, +30.29 pct
The Beijing-based steel products maker said it would divest its loss-making steel manufacturing business, General Steel (China) Co Ltd, and its entire equity interest in Shaanxi Longmen Iron and Steel Co Ltd for $1 million to an affiliate of Victory Energy Resource Ltd.
** NVIDIA CORP, $33.28, +2.81 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, $21.221, +3.67 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.
** AKEBIA THERAPEUTICS INC, $11.1806, -10.98 pct
The drug developer has planned a $75 million public offering of its common stock. The company said it would use the net proceeds for clinical development and for conducting trials of its drug candidates. Akebia had 30.6 million shares of its common stock outstanding as of Nov. 5.
** SUNRUN INC, $10.26, -8.47 pct
Goldman Sachs cut its rating on the U.S. solar products supplier's stock to "neutral" from "buy", citing the recent rally in the company's shares after an unexpected extension of a solar tax credit. Broader investment tax credits "tailwind may have played out in the near-to-medium term," analysts wrote in a note.
** SPIRIT AEROSYSTEMS HOLDINGS INC, $50.77, +3.57 pct
Bernstein analysts raised their rating on the aircraft parts maker's stock to "outperform" from "market-perform", saying they continue to see strong outlook for global commercial aircraft demand, and thus for Spirit's output. The company's cash situation is the strongest it has been since it went public nine years ago, and looks set to improve further, enabling increased return of cash to shareholders, the analysts wrote in a note, raising their price target to $68 from $60.
** PROGRESSIVE WASTE SOLUTIONS LTD, $24.59, +5.95 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.
** NAUTILUS INC, $20.23, +9.47 pct
Wunderlich Securities raised its price target on the fitness products company's stock to $24 from $22 after the company bought Octane Fitness LLC from North Castle Partners for $115 million. The deal will jump-start Nautilus's efforts to penetrate the "highly profitable brand of premium priced ellipticals sold in the specialty retail channel," analysts wrote in a note.
Compiled by Kshitiz Goliya in Bengaluru; Editing by Kirti Pandey