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Wall Street was sharply lower in afternoon trading on Tuesday, with all 10 major S&P sectors in the red, after weak economic data out of China and Europe rekindled fears of a slowing global economy. The Dow Jones industrial average was down 0.65 percent at 17,775.59, the S&P 500 was down 0.73 percent at 2,066.21 and the Nasdaq Composite was down 0.73 percent at 4,782.397.
** JPMORGAN CHASE & CO, $62.36, -2.24 pct
** BANK OF AMERICA CORP, $14.41, -2.44 pct
** GOLDMAN SACHS GROUP INC, $163.52, -1.60 pct
** MORGAN STANLEY, $26.7, -2.05 pct
Banking stocks slide on falling oil prices and weak economic data from China and Europe.
** CONOCOPHILLIPS, $45.08, -3.78 pct
** HALLIBURTON CO, $40.24, -4.30 pct
** SCHLUMBERGER LTD, $76.8, -3.27 pct
** SEADRILL LTD, $4.19, -7.91 pct
** COBALT INTERNATIONAL ENERGY INC, $3.07, -6.69 pct
Oil fell as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for demand.
** AK STEEL HOLDING CORP, $4.35, -6.25 pct
** ARCELORMITTAL SA, $5.39, -5.93 pct
** STEEL DYNAMICS INC, $24.52, -3.12 pct
** ALCOA INC, $10.391, -5.19 pct
** CENTURY ALUMINUM CO, $7.96, -5.69 pct
Shares of U.S. steelmakers and aluminum producers down after China’s factory activity shrank for 14 straight months in April as demand stagnated.
** QUINTILES TRANSNATIONAL HOLDINGS INC, $63.99, -7.40 pct
** HEALTH HOLDINGS INC, $25.06, -6.74 pct
Contract medical research provider Quintiles Transnational Holdings and healthcare information company IMS Health Holdings said they would merge in a deal valued at $9 billion.
** PFIZER INC, $33.855, +3.22 pct
U.S. drugmaker Pfizer reported first-quarter results that blew past analyst estimates, boosted by sales of its new cancer and arthritis treatments and the acquisition last year of hospital products company Hospira.
** COTY INC, $29.12, -6.25 pct
The perfume maker reported its first profit miss in seven quarters, hurt by higher costs and weak demand for products such as Sally Hansen nail polishes in the United States.
** SPRINT CORP, $3.575, +2.44 pct
The No.4 U.S. wireless carrier reported a wider quarterly loss and added fewer subscribers than expected, but vowed to cut more than $2 billion in costs in the current fiscal year to stop the red ink.
** NEW YORK TIMES CO, $12.31, -4.43 pct
The newspaper publisher reported a 1.2 percent fall in quarterly revenue as ad sales fell in its print and digital businesses.
** GRUBHUB INC, $24.99, -5.84 pct
The online food order and delivery company reported a better-than-expected 27 percent rise in quarterly revenue as more diners used its services to order meals online.
** ENCANA CORP , $6.67, -10.23 pct
The Canadian oil and gas producer posted a bigger-than-expected quarterly loss due to lower production amid a steep fall in oil prices.
** ARCHROCK INC, $5.95, -38.47 pct
** ARCHROCK PARTNERS LP, $12.7, +0.47 pct
The natgas compression services provider halved first-quarter dividend to 9.5 cents per share; its master limited partnership Archrock Partners LP also halved distribution on Monday.
** YELP INC, $22.32, +3.77 pct
Hedge fund manager David Einhorn on Monday told investors he had made new investments in business review website Yelp.
** TANDEM DIABETES CARE INC, $7.95, -23.34 pct
The diabetes device maker said some plans of insurer UnitedHealth have designated Medtronic Plc as their preferred provider of insulin pumps. This “unexpected” decision will prevent a majority of UnitedHealth members from buying pumps from Tandem or other providers.
** K2M GROUP HOLDINGS INC, $11.63, -26.72 pct
The medical device maker cut its full-year revenue forecast due to decline in sales in Australia and Japan.
** DENNY’S CORP, $10.67, +7.67 pct
The restaurant chain operator posted better-than-expected first-quarter revenue, helped by a rise in company restaurant sales.
** TRINET GROUP HOLDING NV, $18.08, +8.92 pct
The HR services provider posted a 17 percent rise in first-quarter revenue on Monday, driven by a jump in insurance service revenue.
** FAIRWAY GROUP HOLDINGS CORP, $0.0929, -55.23 pct
The grocery chain operator, which has lost money in every quarter since it went public in 2013, filed for Chapter 11 bankruptcy on Monday in a New York court.
** AMERICAN INTERNATIONAL GROUP INC, $55.95, -1.13 pct
The biggest U.S. commercial insurer by premiums reported a lower-than-expected quarterly operating profit as income from underwriting and returns on investments declined.
** ENERGY TRANSFER EQUITY LP, $11.96, -1.32 pct
** WILLIAMS COMPANIES INC, $19.41, +3.19 pct
Energy Transfer Equity and Williams Companies agreed on Tuesday to change an administrative requirement for their $20 billion-deal to give U.S. regulators additional time to complete their review of the tie-up.
** ESTEE LAUDER COS INC, $93.96, -3.26 pct
The cosmetics maker reported a better-than-expected quarterly profit, helped by strong demand for M.A.C. and Smashbox makeup brands in its international markets.
** OCH-ZIFF CAPITAL MANAGEMENT GROUP LLC, $3.93, -1.75 pct
The alternative asset investment manager reported a first-quarter loss on Tuesday after taking a $200 million reserve as it moves closer to settling bribery charges with the U.S. government.
** ACADIA PHARMACEUTICALS INC, $31.12, -5.70 pct
Leerink downgraded the drug developer’s stock to “market perform” from “outperform” and price target to $35 from $40, citing the company’s lower-than-expected forecasts for 2016 and the following two years.
** WALTER INVESTMENT MANAGEMENT CORP, $5.31, -26.25 pct
Walter Investment, one of the largest non-bank mortgage servicers in the United States, said its performance was “significantly impacted by a challenging rate environment”.
** FREIGHTCAR AMERICA INC, $14.87, -12.53 pct
The railcar maker said it expects to deliver fewer units in 2016, citing a “more competitive environment”.
** BUILD-A-BEAR WORKSHOP INC, $13.72, +8.37 pct
The toy retailer’s board authorized exploration of strategic alternatives.
** MERRIMACK PHARMACEUTICALS INC, $6.74, -7.42 pct
Sales of the company’s pancreatic cancer drug fell short of analysts’ expectations.
** HCA HOLDINGS INC, $78.98, -2.75 pct
** COMMUNITY HEALTH SYSTEMS INC, $14.64, -6.99 pct
Quarterly report cards of U.S. hospitals failed to lift investors’ spirits on Tuesday. HCA’s EBITDA forecast fell short of analysts’ estimates, while Community Health’s results again failed to meet expectations.
** FIDELITY NATIONAL INFORMATION SERVICES INC, $71.5, +6.43 pct
The maker of software for financial industry posted a first-quarter adjusted profit that missed Wall Street target.
** WELLCARE HEALTH PLANS INC, $94.91, +5.62 pct
U.S. health insurer WellCare Health reported a quarterly profit that beat Wall Street estimates, helped by higher Medicaid enrollments, and the company also raised its profit forecast for the year.
** UBS Group AG , $16, -7.14 pct
The Swiss bank plans job cuts to help save hundreds of millions of dollars in its wealth management business, after its first-quarter net profit fell by nearly two-thirds due to wary clients investing less.
** ON DECK CAPITAL INC, $5.38, -35.18 pct
The online lender forecast 2016 revenue below average analysts’ estimates and said it expects to sell fewer loans through its OnDeck Marketplace platform, over short term, resulting in lower sales, higher expense provision and lower adjusted EBITDA than planned.
** FABRINET, $35.86, +11.06 pct
The laser product maker reported better-than-expected third-quarter profit and revenue, helped by higher demand for its optical packaging and precision optical products.
** ALLY FINANCIAL INC, $17.19, -3.48 pct
Market sources cited Morgan Stanley reoffered a block of 15 million shares of the company at a 2.3 percent discount to the stock’s $17.81 last sale. Identity of seller(s) not known at this time. (Compiled by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Anil D’Silva)