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U.S. stocks opened lower on Tuesday with the benchmark S&P 500 on track to log its fifth day of declines. The modest pullback follows a sharp drop on Monday as investors continue to fret over a likely Federal Reserve rate hike in December. The S&P 500 opened 2 points, or 0.1%, lower at 2,075. The Dow Jones Industrial Average lost 36 points, or 0.2%, to 17,696. The Nasdaq Composite began the day down 23 points, or 0.5%, at 5,072.

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From:: Stock Market News

Chipotle Mexican Grill Inc.’s stock climbed 2.4% in premarket trade Tuesday, after the fast casual Mexican restaurant chain said it will reopen all of its restaurants in Seattle and Portland after health officials said they were clear of risks for E. coli. Chipotle said it closed the restaurants on Nov. 1, after 19 people in Washington and three people near Portland became sick since Oct. 14. Chipotle said Tuesday that it replaced all ingredients in the closed restaurants, that none of its employees had E. coli and that it was conducting deep cleaning and sanitization in all restaurants nationwide. “The safety of our customers and integrity of our food supply has always been our highest priority,” said co-Chief Executive Steve Ells. “We are sorry to those affected by this situation, and it is our greatest priority to ensure that we go above and beyond to make certain that we find any opportunity to do better in any area of food safety.” The stock has fallen 4.8% so far this month through Monday as the E. coli news broke, while the S&P 500 was little changed.

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From:: Stock Market News

Tour a 1920s farmhouse that got a much-needed makeover without losing its evolved-over-time charm …read more

From:: DIY this old house

Valeant Pharmaceuticals International Inc.’s stock took a sharp turn lower in premarket trade Tuesday, after the company said in its business update that disruption in its dermatology business, from the recent controversies surrounding its Philidor specialty pharmacy subsidiary, would be significant in the short term. The stock was down 3% ahead of the open, after trading up as much as 2.4% prior to the start of the business update. Chief Executive J. Michael Pearson said there has also been some pressure on sales of blood pressure treatment Nitropress and heart block treatment Isuprel, according to a transcript of the update provided by FactSet. Pearson said Philidor, which has committed to cease operations by Jan. 30, 2016, represented just $190 million, or 6.8%, of third-quarter revenue. Still, Pearson said what has happened will impact fourth-quarter results, but the company is still working to quantify the impact. He said an update will provided at the company’s investors day in December. The stock has tumbled 65% over the past three months through Monday, while the S&P 500 has lost 1.2%.

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From:: Stock Market News

TD Ameritrade Holding Corp. named Tim Hockey president of TD Ameritrade, effective Jan. 2, 2016. He is presently the head of TD Bank Group’s Canadian banking and wealth management group and chief executive officer of TD Canada Trust. Current TD Ameritrade president and CEO Fred Tomczyk will retire at the end of the 2016 fiscal year, on Sept. 30, 2016. Hockey will initially be responsible for the retail, institutional and trading channels and in the coming months will add technology, operations, and other corporate functions. TD Ameritrade shares are up 3.3% for the year so far while the S&P is up 1% for the same period.

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From:: Stock Market News

​WASHINGTON (MarketWatch) – The prices the U.S. paid for imported goods ​fell by 0.5% in October to mark the fourth decline in a row. Excluding fuel, import prices fell by 0.3%, the Labor Department said Tues​day. The price of U.S.-made goods exported to other nations dipped 0.2% last month. In the past 12 months import prices have dropped 10.5%, ​owing to lower oil costs​ and a stronger dollar that makes foreign goods less expensive. Import prices are down a 3.2% excluding fuel during the same span.

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From:: Stock Market News

Tesla Motors Inc. investors should brace for a series of developments in 2016 that are crucial to understanding its story and “bigger mission,” Morgan Stanley said Tuesday. On the one hand, the company will continue to burn cash through the fourth quarter and into 2016, nearly $1 billion worth in the next 12 months, analysts led by Adam Jonas said in a note. “3Q results demonstrated increased cash consumption, testing investor resolve of capital adequacy and raising the stakes for addressing Model X launch issues,” said the note. “We think longer-term ambitions of how Tesla advances the state of sustainable transport has significant room for appreciation by the market.” Morgan Stanley is prepared for lower deliveries in the fourth quarter and 2016 than currently targeted by the company, because of the complexity of making the product, high price point and challenge in accessing the mainland China market. It expects the Model 3 average transaction price to be about $60K per unit, higher than the $35K that the company has mentioned. 4. However, “we believe Tesla should eventually more clearly communicate any potential plans for a mobility service (selling miles, not cars) to investors,” said the note. Morgan Stanley is sticking with its $450 price target on the stock, and believes a mobile app would be a strong catalyst for growth. Tesla shares were down 0.4% in premarket trade, but are up 1.3% in the year to date, while the S&P 500 has gained 1%.

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From:: Stock Market News

Shares of Apple Inc. fell 2% in premarket trade after Credit Suisse said the company’s supply-chain orders have weakened recently in Asia, which could weigh on Apple’s shares for the “next few weeks/quarters.” Apple has lowered its component orders by as much as 10%, according to Credit Suisse analyst Kulbinder Garcha. That points to “weak demand for the new iPhone 6s,” said Garcha. He lowered his estimate on how many iPhones Apple will build in the next calendar year to 222 million from 242 million, and reduced his calendar-year 2016 earnings per share estimates by 6%. Credit Suisse maintained an outperform rating and $140 12-month stock price target, however, forecasting continued growth among Apple’s iPhone installed base. It was also optimistic on the potential for a mini iPhone, with reports surfacing this week that Apple is considering launching a 4-inch phone in 2016. Shares of Apple are trading flat from three months ago, in-line with the performance of the Dow Jones Industrial Average.

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From:: Stock Market News

Best Buy Co. Inc. said nearly 1,000 stores in 47 states will open at 5 p.m. local time on Thanksgiving Day in a statement announcing Black Friday deals. Stores will remain open until 1 a.m. and then reopen on Black Friday at 8 a.m. Best Buy joins Toys R Us, Macys Inc. , Sears Holdings Corp. Inc. , and Target Corp. on the list of companies that have announced Thanksgiving Day openings in the last two days. There are eight deals already available on Best Buy’s website and in stores when they open on Tuesday, including up to $125 off iPad Air 2 and $150 off a 27-inch iMac with Retina 5K display. Best Buy shares are down 9.3% for the year so far while the S&P is up 1% for the same period.

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From:: Stock Market News

Monsanto Co. said Tuesday it expects fiscal 2016 adjusted earnings per share to range from $5.10 to $5.60 as it books additional charges for restructuring. The company said it now expects to generate savings of $500 million by the end of fiscal 2018. On a reported basis, the agricultural giant is expecting EPS of $4.00 to $4.66, the company said in a statement prepared for a Morgan Stanley conference. The current FactSet consensus is for fiscal 2016 EPS of $5.36. Monsanto said it still expects free cash flow of $1.6 billion to $1.8 billion for the year, with net cash from operating activities expected to range from $2.7 billion to $3.1 billion and net cash from investing activities to range from $1.1 billion to $1.3 billion. Shares were not yet active in premarket trade, but are down 21% in the year so far, while the S&P 500 has gained about 1%.

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From:: Stock Market News