(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 was more than 1 percent lower on Tuesday afternoon amid a decline in commodity prices and continuing uncertainty about when the Federal Reserve will raise interest rates. The Dow Jones industrial average was down 1.50 percent at 16,261.89, the S&P 500 was down 1.68 percent at 1,933.96 and the Nasdaq Composite was down 2.05 percent at 4,730.013.
** RIO TINTO PLC, $33.97, -3.82 pct
** BHP BILLITON LTD, $32.76, -4.07 pct
** VALE SA, $4.81, -4.94 pct
** VEDANTA LTD, $5.52, -9.36 pct
** TECK RESOURCES LTD, $5.32, -8.43 pct
** FREEPORT-MCMORAN INC, $10.7, +1.61 pct
** CLIFFS NATURAL RESOURCES INC, $2.69, -7.56 pct
** HUDBAY MINERALS INC, $4.32, -6.90 pct
** NORANDA ALUMINUM HOLDING CORP, $2.34, -10.34 pct
** CENTURY ALUMINUM CO, $5.25, -3.85 pct
** ALUMINUM CORP OF CHINA LTD, $8.24, -3.40 pct
** ALCOA INC, $9.465, -4.39 pct
U.S.-listed shares of metal miners down after metal prices tumbled to two-week lows amid jitters about economic growth and demand from top consumer China. Sinking aluminum prices and a ballooning surplus of the metal have deepened the industry’s worst crisis in years, with a 25 percent drop since last September pushing prices to six-year lows.
** CONATUS PHARMACEUTICALS INC, $4.6, +5.99 pct
H.C. Wainwright & Co starts coverage on the drug developer’s stock with a “buy” rating, citing potential for the company’s liver drug, emricasan.
** WEATHERFORD INTERNATIONAL PLC, $9.12, +8.44 pct
The oilfield service provider cancels $1 billion offerings of shares and exchangeable notes. The company says despite strong investor interest, it was unwilling to sell “at prices that do not reflect the value we have created at Weatherford”.
** AMPIO PHARMACEUTICALS INC, $3.4, +6.92 pct
The drug developer starts second late-stage study of pain drug Ampion after FDA grants Special Protocol Assessment agreement, a declaration that the trial design and goals are acceptable for an approval.
** CARMAX INC, $59.94, -4.34 pct
The largest U.S. used-car seller reports lower-than-expected Q2 revenue as new car sales continue to rise amid low fuel prices and a healthy economic backdrop.
** TENNECO INC, $43.03, -6.84 pct
** BORGWARNER INC, $39.28, -7.82 pct
** DELPHI AUTOMOTIVE PLC, $74.2, -3.92 pct
** HONEYWELL INTERNATIONAL INC, $95.59, -2.20 pct
** FEDERAL-MOGUL HOLDINGS CORP, $7.41, -6.08 pct
** MERITOR INC, $11.79, -5.23 pct
** STONERIDGE INC, $11.48, -5.05 pct
** DANA HOLDING CORP, $16.42, -3.81 pct
A broad decline in the auto parts sector after Volkswagen admission to cheating cast clouds over prospects for diesel-powered passenger cars. Deutsche Bank says supplier exposure to Volkswagen’s U.S. diesel sales quite limited but broader hit to diesel sales in Europe (by far the predominant market for diesel-powered passenger cars) more serious.
** ROSETTA GENOMICS LTD, $2.891, +4.37 pct
The Israel-based diagnostics company says U.S. patent office grants patent to its prostate cancer treatment.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $215.48, -5.90 pct
** GILEAD SCIENCES INC, $104.89, -0.80 pct
** ABBVIE INC, $57.17, -3.74 pct
** BIOGEN INC, $295.69, -0.49 pct
** JOHNSON AND JOHNSON, $93.06, -0.08 pct
** CELGENE CORP, $116.77, -1.99 pct
** RETROPHIN INC, $22.095, -11.97 pct
Democratic presidential candidate Hillary Clinton will propose on Tuesday a $250 monthly cap on prescription drugs to stop what she calls “excessive profiteering” by pharmaceutical companies. The Nasdaq Biotechnology Index falls about 3 percent and S&P health care down 1.35 percent.
** MOSAIC CO, $33.62, -7.74 pct
** POTASH CORP OF SASKATCHEWAN, $22.13, -6.62 pct
** AGRIUM INC, $95.37, -3.29 pct
** INTREPID POTASH INC, $6.14, -5.39 pct
Fertilizer maker Mosaic says it would cut potash production and maintain its reduced phosphate output pace, citing delayed fertilizer purchases in Brazil and North America, along with lower crop prices and volatile currency.
** HORIZON PHARMA PLC, $25.24, -12.94 pct
** DEPOMED INC, $24.27, -12.35 pct
Brean Capital downgrades drugmaker Horizon’s stock to “hold” from “buy”. Analyst Difei Yang cites several “unsettling” recent developments such as talks on drug prices heating up and uncertainty of Depomed deal being closed. Depomed has rejected Horizon Pharma’s $30-per-share offer.
** J M SMUCKER CO, $113.29, -3.21 pct
The folgers coffee maker says Blue Holdings I LP sells 8.3 million shares on KKR & Co LP’s behalf in an underwritten secondary offering.
** CARNIVAL CORP, $49.85, -5.37 pct
The world’s largest cruise ship operator issued a profit forecast for the current quarter that missed analysts’ estimates, overshadowing better-than-expected third quarter results.
** CONAGRA FOODS INC, $39.17, -7.62 pct
The maker of Slim Jim beef jerky and Chef Boyardee pasta reported a better-than-expected quarterly profit, helped by a 3.5 percent rise in sales in its commercial foods business, which makes ingredients for other manufacturers and restaurants.
** GOLDMAN SACHS GROUP INC, $178.9, -2.43 pct
Goldman Sachs Group Inc Chief Executive Lloyd Blankfein said he had a “highly curable” form of lymphoma, but would be able to work substantially as normal during treatment.
** ASTRAZENECA PLC, $32.08, -4.35 pct
The drugmaker is harnessing the wisdom of crowds to help mix tomorrow’s cancer drug cocktails. The company said its decision to release preclinical data from more than 50 of its medicines was unprecedented in scale and would help accelerate the hunt for synergistic tumour-fighting drug combinations.
** GROUPON INC, $4.08, -2.16 pct
The operator of daily deals website groupon.com said it would cut about 1,100 jobs globally as it restructures outside North America. Groupon is shutting operations in Morocco, Panama, the Philippines, Puerto Rico, Taiwan, Thailand and Uruguay after exiting Greece and Turkey, the company said in a separate blog post. (Compiled by Kshitiz Goliya in Bengaluru; Editing by Maju Samuel)