(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 index e-mini futures fell on Wednesday after China pushed the yuan lower again overnight, hitting companies with a big exposure to the world's No. 2 economy and adding to worries about the global economic outlook. The currency adjustment by the world's top metals consumer also hit commodity prices.
Dow Jones industrial average futures were down 0.85 percent at 17,207, S&P 500 futures were down 0.81 percent at 2,063 and Nasdaq 100 futures were down 0.74 percent at 4,477.5.
** ALIBABA GROUP HOLDING LTD, Tuesday close $77.34, -6 pct premarket
** YAHOO INC, Tuesday close $36.03, -5.22 pct premarket
China’s biggest e-commerce company’s quarterly revenue rose 28 percent, missing analysts’ estimates, with growth slowing to its lowest rate in more than three years.
Yahoo has a 15 percent stake in Alibaba.
** GOOGLE INC, Tuesday close $690.3, +0.73 pct premarket
Morgan Stanley upgraded the stock to “overweight” and set an $820 price target, saying the Alphabet disclosure will highlight the strength of its core business.
** GENERAL MOTORS CO, Tuesday close $30.83, -1.07 pct premarket
** FORD MOTOR CO, Tuesday close $14.7, -1 pct premarket
** FIAT CHRYSLER AUTOMOBILES NV, Tuesday close $16.36, -4.58 pct premarket
** CATERPILLAR INC, Tuesday close $78.04, -1.04 pct premarket
Shares of U.S. automakers and industrials fell after China devalued the yuan. The currency move exacerbates fears of a weakening demand and fresh data on Wednesday showed weaker-than-expected growth in China’s July factory output, investment and retail sectors.
** ALCOA INC, Tuesday close $9.48, -0.95 pct premarket
** FREEPORT-MCMORAN INC, Tuesday close $10.22, -1.66 pct premarket
** AK STEEL HOLDING CORP, Tuesday close $3.18, -0.94 pct premarket
** UNITED STATES STEEL CORP, Tuesday close $19.48, -1.28 pct premarket
The yuan devaluation increases the risk that demand for metals will weaken further, hurting miners and metal companies.
** CERES INC, Tuesday close $0.9526, +298.91 pct premarket
The agricultural biotech company got a U.S. patent for its iCODE technology, which allows it to usage of plant cell’s own gene-shuffling system to create thousand of test plants.
** CELLADON CORP, Tuesday close $1.12, -7.14 pct premarket
The drugmaker’s second-quarter consolidated net loss widens to $16.5 million from $6.9 million a year earlier. Celladon said in June it may liquidate if it was unable to find a buyer after its gene therapy, Mydicar, failed in a key mid-stage trial.
** MACYS INC, Tuesday close $67.53, -1.04 pct premarket
The company, which operates Macy’s stores and the Bloomingdale’s chain, reported lower-than-expected quarterly sales as a strong dollar “significantly” hurt spending by foreign tourists in the United States and the company discounted to clear merchandise delayed due to the West Coast ports strikes.
** SKYWORKS SOLUTIONS INC, Tuesday close $88.97, -2.94 pct premarket
The chipmaker is the most exposed to China among the S&P 500 components, with roughly 83 percent of its revenue coming from the country, according to Goldman.
** FIDELITY NATIONAL INFORMATION SERVICES INC, Tuesday close $65.07, +5.81 pct premarket
The financial industry software maker said it would buy SunGard Data Systems Inc for $9.1 billion including debt, scooping up one of the longest-held investments in private-equity history.
** WAYFAIR INC, Tuesday close $38.17, +16.03 pct premarket
The online home-furnishing retailer reported a 66.4 percent revenue growth for the second quarter, helped by a 53.5 percent jump in its active customer count. The company said it was helped by an advertising plan that allows it to “attract higher value customers with a propensity for repeat purchases”.
** BARRICK GOLD CORP, Tuesday close $7.68, +2.21 pct premarket
** ELDORADO GOLD CORP, Tuesday close $3.78, +3.17 pct premarket
** KINROSS GOLD CORP, Tuesday close $2.07, +2.90 pct premarket
** GOLDCORP INC, Tuesday close $14.48, +2 pct premarket
** GOLD FIELDS LTD, Tuesday close $2.78, +2.88 pct premarket
Gold rose for a fifth session in a row, hitting a fresh three-week high, as China’s currency devaluation sparked fears of a currency war and hit global equities, prompting some investors to seek assets perceived as safer such as gold.
** GENERAL ELECTRIC CO, Tuesday close $25.71, -0.74 pct premarket
** CAPITAL ONE FINANCIAL CORP, Tuesday close $80.87, -1.26 pct premarket
General Electric said it would sell its U.S. healthcare finance unit to the credit card lender for about $9 billion as it winds down its finance arm and returns to its industrial roots.
** AMERICAN APPAREL INC, Tuesday close $0.21, -28.54 pct premarket
The loss-making teen apparel retailer said it does not expect to have sufficient funds to keep the business running for the next 12 months, warning shareholders may lose some or all of their investments and it may not be able to raise additional capital.
** INC RESEARCH HOLDINGS INC, Tuesday close $48.2, -8.82 pct premarket
The contract drug research company said its secondary offering of 8 million Class A shares by certain stockholders, including affiliates of the investment arm of Ontario Teachers’ Pension Plan Board. The offering is expected to close on Aug. 17.
** FOSSIL GROUP INC, Tuesday close $62.11, -8.23 pct premarket
The watches, jewelry and accessories maker cut its full-year 2015 sales forecast, citing a stronger dollar and cut its profit forecast, citing restructuring charges. The company’s Q2 revenue missed analysts’ expectations due to a strong dollar and weak demand for its watches.
** CDK GLOBAL INC, Tuesday close $48.54, +7.38 pct premarket
The IT provider, which caters to auto dealers, is exploring a sale to private equity firms and is working with Morgan Stanley, Bloomberg reports. (bloom.bg/1TqZ68u)
** FREEPORT-MCMORAN INC, Tuesday close $10.22, -1.66 pct premarket
Freeport-McMoRan has stopped exporting since last month from one of the world’s largest copper mines that it runs in Indonesia, a spokesman said, as the U.S. miner awaits approval from the trade ministry.
** MCDONALD’S CORP, Tuesday close $98.81, -0.44 pct premarket
The Japan unit of the fast-food chain said it slid deep into losses in the first six months of the year, as customers stayed away after a string of safety scandals and the fast-food chain booked store closure and other restructuring costs.
** WELLS FARGO & CO, Tuesday close $57.21, -0.63 pct premarket
The company may divest its crop insurance business, one of the biggest in the United States, a spokeswoman told Reuters on Tuesday, as regulatory restrictions on U.S. banks force some to reconsider underwriting insurance policies.
** AMAZON.COM INC, Tuesday close $527.46, -0.77 pct premarket
The e-commerce company quietly shuttered a pay-per-click advertising program that allowed businesses to divert traffic from the retailer’s platform to their own websites, saying it would permanently discontinue the program in October.
** CHS INC, Tuesday close $30.23
** CF INDUSTRIES HOLDINGS INC, Tuesday close $57.27, -1.44 pct premarket
U.S.-based agribusiness CHS said it will invest $2.8 billion in a unit of U.S. fertilizer producer CF. (Complied by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)