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U.S. stock index e-mini futures fell on Wednesday as oil prices declined after data showed crude stockpiles in the United States touched record highs: Dow Jones industrial average futures were down 0.27 percent at 16,804, S&P 500 futures were down 0.28 percent at 1,972.5 and Nasdaq 100 futures were down 0.21 percent at 4,328.5.
** MONSANTO CO, Tuesday close $92.49, -5.03 pct premarket
The world’s largest seed company slashed its earnings forecast for the year, hurt by a strong dollar and low prices for its seeds as farmers curb spending. The company said on Wednesday it now expected adjusted earnings of $4.40-$5.10 per share, compared with the $5.10-$5.60 it had forecast in December.
** ABERCROMBIE & FITCH CO, Tuesday close $29.34, +7.02 pct premarket
The teen apparel retailer reported a surprise increase in quarterly sales at established stores due to strong demand for its Hollister branded clothing in the holiday shopping season.
** CHESAPEAKE ENERGY CORP, Tuesday close $2.76, -3.62 pct premarket
Aubrey McClendon, former chief executive of the oil and gas producer and a legend in the U.S. energy industry, was charged on Tuesday with conspiring to rig bids to buy oil and natural gas leases in Oklahoma, the Justice Department said.
** ALIBABA GROUP HOLDING LTD, Tuesday close $70.86, +1.65 pct premarket
Ant Financial Services Group, the finance arm of the Chinese e-commerce giant, is in talks to invest in business magazine publisher Caixin Media, Bloomberg reported on Tuesday, citing people familiar with the matter. Caixin, founded by Hu Shuli, has been discussing a stake sale with Ant Financial which operates Alipay and Alipay Wallet, Bloomberg said. (bloom.bg/1oO77Mt)
** CHECKPOINT SYSTEMS INC, Tuesday close $7.89, +27.50 pct premarket
Canadian label and packaging maker CCL Industries Inc said it would buy U.S.-based Checkpoint, which makes anti-theft tags used by retailers, for about $422 million. CCL’s offer of $10.15 per share in cash represents a premium of about 29 percent to Checkpoint’s Tuesday close.
** ZYNGA INC, Tuesday close $2.16, +7.87 pct premarket
The creator of “FarmVille” named former Electronic Arts Inc executive Frank Gibeau as its chief executive, betting on an industry veteran to help accelerate its transition into a company focused on mobile gaming.
** VALEANT PHARMACEUTICALS INTERNATIONAL INC, Tuesday close $65.45, +1.08 pct premarket
A U.S. regulatory probe of the Canadian drugmaker, disclosed by the company on Monday, is focused on the company’s relationship with specialty pharmacy Philidor RX Services and was triggered by Valeant’s own request that regulators investigate a short seller’s allegations, people familiar with the matter said.
** EXXON MOBIL CORP, Tuesday close $81.28, -0.96 pct premarket
The world’s largest publicly traded oil company said on Wednesday its output would rise slowly through 2017 as it continues cutting costs. But Chief Executive Rex Tillerson said the company, which raised $12 billion in the debt market earlier this week, could increase its spending if the right opportunities arose.
** PETROLEO BRASILEIRO SA PETROBRAS, Tuesday close $3.79, -1.32 pct premarket
The board of Brazil’s state-run oil company has approved the start of exclusive negotiations to sell its controlling stake in Petrobras Argentina to Pampa Energia SA, according to a Petrobras securities filing on Wednesday.
** WEATHERFORD INTERNATIONAL PLC, Tuesday close $6.19, -1.78 pct premarket
The oilfield services provider’s offering of 100 million ordinary shares was priced at $5.65 per share. The offering, which represents about 13 percent of the company’s total shares outstanding, was upsized from 80 million shares.
** CSX CORP, Tuesday close $24.64, +3.08 pct premarket
Canadian Pacific Railway Ltd had approached the company for a takeover in January, but CSX rebuffed CP's advances, the Wall Street Journal reported. (on.wsj.com/1WUL4yJ)
** EYEGATE PHARMACEUTICALS INC, Tuesday close $3.82, +16.49 pct premarket
The eye drug developer said it had received an additional milestone payment from Valeant Pharmaceuticals International Inc in connection with its lead experimental drug, EGP-437.
** EVERYDAY HEALTH INC, Tuesday close $4.66, +26.61 pct premarket
The health and wellness information provider reported fourth-quarter profit and revenue above analysts’ estimates. Everyday also forecast 2016 revenue in line with analysts’ estimates, but Cowen & Co analysts said the guidance “came in better than some may have expected.” (Compiled by Ramkumar Iyer in Bengaluru; Editing by Kirti Pandey)