February 9, 2016 / 2:16 PM / 2 years ago

BUZZ-U.S. STOCKS ON THE MOVE-Regeneron, Tesla, CVS Health, Sears

(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 were set to open lower on Tuesday, as cautious investors doubled down on safer assets amid increasing concerns of a sustained slowdown in global economic growth. Dow Jones industrial average futures were down 1.02 percent at 15,825, S&P 500 futures were down 1.08 percent at 1,832 and Nasdaq 100 futures were down 1.32 percent at 3,911.75.

** ITC HOLDINGS CORP, Monday close $39.38, +1.52 pct premarket

Canadian utility Fortis Inc said it would buy U.S. power transmission company ITC Holdings for $6.9 billion - its biggest deal ever - to boost its exposure to regulated power markets, which have stable power prices.

** SEARS HOLDINGS CORP, Monday close $16.73, -4.36 pct premarket

Sears estimated quarterly sales below analysts’ expectations, citing unseasonably warm weather and intense competition, and said it would speed up closure of at least 50 unprofitable stores in the next few months.

** SANOFI SA, Monday close $39.21, -2.17 pct premarket

The French drugmaker said it expected stable earnings per share this year after reporting lower fourth-quarter income on Tuesday, hurt by declining sales of diabetes and cancer treatments and other prescription drugs.

** TESLA MOTORS INC, Monday close $147.99, -4.52 pct premarket

Tesla faces a pivotal moment on Wednesday in its fight to convince skeptical investors that it can still win against traditional auto makers in the competition to reshape the auto business.

** REGENERON PHARMACEUTICALS INC, Monday close $390.53, -7.12 pct premarket

The company reported a lower-than-expected profit for the first time in four quarters and forecast slowing sales growth for its blockbuster eye drug this year.

** GOODYEAR TIRE & RUBBER CO, Monday close $26.34, +2.51 pct premarket

The No.1 U.S. tire maker reported a better-than-expected quarterly profit, helped by higher sales volume and lower raw material costs.

** AGRIUM INC, Monday close $84.01, -1.20 pct premarket

The Canadian fertilizer and farm products retailer forecast a lower-than-expected profit for 2016, blaming weak prices.

** CVS HEALTH CORP, Monday close $89.65, -3.12 pct premarket

The No.2 U.S. drugstore chain by store count forecast current-quarter profit below analysts’ expectations after the company reported weak front-store sales.

** WPX ENERGY INC, Monday close $4.52, +2.88 pct premarket

The oil and gas producer said it would sell natural gas assets in Colorodo’s Piceance basin for $910 million to boost its liquidity amid a prolonged slump in oil prices.

** RIO TINTO PLC, Monday close $26.43, -6.02 pct premarket

** BHP BILLITON, Monday close $22.71, -5.42 pct premarket

** ARCELORMITTAL SA, Monday close $3.52, -8.24 pct premarket

The European mining companies’ shares were down after Goldman Sachs cut its price targets on Rio Tinto and BHP Billiton. ING lowered its rating on ArcelorMittal to “hold” and cut PT to 3.1 euro from 10.5 euro.

** CISCO SYSTEMS INC, Monday close $22.93, -0.61 pct premarket

Investors spooked by a steep sell-off in enterprise tech stocks will get a fresh glimpse of the health of technology spending on Wednesday when bellwether Cisco Systems posts its quarterly results.

** TWENTY-FIRST CENTURY FORX INC, Monday close $24.59, -5.90 pct premarket

Twenty-First Century Fox reported lower-than-expected quarterly revenue, mainly due to a decline in DVD sales from a year ago, when “X-Men: Days of Futures Past” and “Dawn of the Planet of the Apes” were released for home viewing.

** CHIPOTLE MEXICAN GRILL, Monday close $445, -1.57 pct premarket

Chipotle closed all of its U.S. restaurants during prime lunchtime hours on Monday to hold staff meetings on food safety guidelines, sparking offers from rivals eager to poach customers of the burrito chain as it recovers from several food-borne outbreaks.

** VERIZON COMMUNICATIONS INC Monday close $50.74, -0.71 pct premarket

** YAHOO INC Monday close $27.05, -1.11 pct premarket

Verizon has given Tim Armstrong, chief executive officer of its AOL unit, a leading role in exploring a possible bid for Yahoo’s assets, Bloomberg reported, citing a person with knowledge of the situation.

** SPIRIT AIRLINES INC Monday close $40.38, +0.55 pct premarket

The low-cost U.S. carrier reported a 33 percent rise in quarterly profit, helped by an increase in flights.

** VIACOM INC, Monday close $41.85, -2.99 pct premarket

Viacom and Snapchat have extended a deal that will allow Viacom to sell advertising on the mobile app’s behalf.

Under the deal, Viacom will have the right to sell against its own content on Snapchat as well as Snapchat’s U.S. owned and operated advertising inventory, a Snapchat spokesman told Reuters.

Viacom also reported a bigger-than-expected drop in quarterly revenue, hurt by lower income from advertising in the United States and a lack of hit movie releases in the period.

** GAP INC, Monday close $23.99, +1.71 pct premarket

The apparel retailer estimated full-year 2015 and fourth-quarter profit above analysts’ expectations.

** WENDY‘S CO, Monday close $10.15, +3.45 pct premarket

The U.S. burger chain operator reported higher-than-expected quarterly sales growth at established restaurants in North America, as expanded menu offerings such as its “4 for $4 meal” and renovated restaurants helped bring in more diners. (Compiled by Amrutha Penumudi in Bengaluru; Editing by Maju Samuel)

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