NEW YORK (TheStreet) -- Shares of GT Advanced Technologies (GTAT) were spiking 6.1% to $10.70 in premarket trading Tuesday as the polysilicon production technology provider replaces hospitality and retail technologies solutions provider Radiant Systems (RADS) in the S&P SmallCap 600 index after the close of trading on Wednesday.


UBS ( UBS - Get Report), the Swiss bank, plans to cut 3,500 jobs in an effort to eliminate expenses of 2 billion Swiss francs ($2.54 billion) a year by the end of 2013.

Shares were rising 2.9% to $13.57.


Shares of Medtronic ( MDT - Get Report) were advancing 2.5% to $31.95 after the medical equipment company reported first-quarter earnings of 79 cents a share, down 1% from the year before but in line with estimates, and reiterated its revenue and earnings per share outlook for the year.


Delta ( DAL) plans to order 100 Boeing ( BA - Get Report) 737 single-aisle jets in a deal valued at more than $8 billion, say reports.

Boeing shares were rising 1.5% to $59.25.


Home products retailer Williams-Sonoma ( WSM - Get Report) reported second-quarter earnings of 37 cents a share vs. the average analyst estimate of 36 cents a share. It also raised its full-year earnings guidance to a range of $2.17 to $2.22 a share vs. $1.95 last year.

Shares were rising 1% to $30.32.


The U.S. Committee on Foreign Investment has approved the proposed merger of the Deutsche Boerse and NYSE Euronext ( NYX) exchange operators.

NYSE shares were up 0.4% to $25.05.


Food products company H.J. Heinz ( HNZ) reported first-quarter adjusted earnings of 78 cents a share vs. the average analyst estimate of 76 cents a share.


Apparel retailer Pacific Sunwear of California ( PSUN) is expected to report a second-quarter loss of 24 cents a share vs. a year-earlier loss of 22 cents a share.


The president of ratings agency Standard & Poor's, Deven Sharma, will leave the company and be replaced by Douglas Peterson, currently the chief operating officer of Citibank N.A., the chief banking unit of Citigroup ( C).

Sharma's resignation from S&P, a subsidiary of McGraw-Hill ( MHP), comes weeks after the company downgraded the U.S. credit rating to AA+ from AAA, an action that received strong criticism from the Obama administration. Other ratings agencies maintained their AAA ratings for the U.S.

-- Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.

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