(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) Wall Street rose in morning trading on Tuesday. The Dow Jones industrial average was up 0.15 percent at 16,051.39, the S&P 500 was up 0.42 percent at 1,861.15 and the Nasdaq Composite was up 1.02 percent at 4,327.292.
** VIACOM INC, $37.545, -10.29 pct
The owner of MTV, Comedy Central, Nickelodeon and movie studio Paramount reported a steeper-than-expected drop in quarterly revenue, hurt by lower advertising sales in the United States and few hit movie releases in the period.
Also, Viacom and Snapchat have extended a deal that will allow Viacom to sell advertising on the mobile app’s behalf.
** TWENTY-FIRST CENTURY FORX INC, $24.465, -0.51 pct
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.
** REGENERON PHARMACEUTICALS INC, $383.45, -1.81 pct
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, $28.55, +8.39 pct
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, $82.81, -1.43 pct
The Canadian fertilizer and farm products retailer forecast a lower-than-expected profit for 2016, blaming weak prices.
** WPX ENERGY INC, $4.73, +4.65 pct
The oil and gas producer said it would sell natural gas assets in Colorado’s Piceance basin for $910 million to boost its liquidity amid a prolonged slump in oil prices.
** RIO TINTO PLC, $25.22, -4.58 pct
** BHP BILLITON, $21.86, -3.74 pct
** ARCELORMITTAL SA, $3.27, -7.10 pct
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.
** SPIRIT AIRLINES INC $42.8676, +6.16 pct
The low-cost U.S. carrier reported a 33 percent rise in quarterly profit, helped by an increase in flights.
** GAP INC, $24.53, +2.25 pct
The apparel retailer estimated full-year 2015 and fourth-quarter profit above analysts’ expectations.
** TESLA MOTORS INC, $155.645, +5.17 pct
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.
** ITC HOLDINGS CORP, $38.92, -1.17 pct
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, $16.59, -0.84 pct
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, $38.5, -1.81 pct
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. (Compiled by Amrutha Penumudi in Bengaluru; Editing by Maju Samuel)