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U.S. stock indexes fell sharply on Wednesday as crude oil prices tumbled to new lows and fears of slowing growth continued to gnaw at investors. The Dow Jones industrial average was down 2.58 percent at 15,603.38 and the S&P 500 was down 2.77 percent at 1,829.21
** GOLDMAN SACHS GROUP INC, $153.87, -1.88 pct
The investment bank’s profit slumped for the third straight quarter as a $5 billion settlement of crisis-era legal claims ate into earnings in a tumultuous three months.
** INTERNATIONAL BUSINESS MACHINES CORP, $122.3, -4.54 pct
The world’s largest technology services company forecast weak earnings for this year after reporting an 8.5 percent fall in fourth-quarter revenue as a strong dollar and tepid IT spending weigh on Big Blue’s results.
** ZAFGEN INC, $9.19, +63.52 pct
The U.S. drugmaker said its experimental obesity drug, on complete clinical hold since last month after the death of two patients, met its main goals in a late-stage study in patients with a rare genetic eating disorder.
** FORTINET INC, $25.36, -4.16 pct
Piper Jaffray cut its rating on the security software maker’s stock to “neutral” from “overweight” and slashed its price target to $30 from $50.
** SYMANTEC CORP, $18.48, -2.89 pct
Antivirus software maker Symantec said on Tuesday it would receive $1 billion less in cash for its data storage unit Veritas from Carlyle Group, cutting the price of the biggest leveraged buyout of 2015 after debt backing the deal failed to sell.
** DRD GOLD LTD, $2.41, +7.59 pct
** ANGLOGOLD ASHANTI LTD, $7.85, +5.51 pct
** GOLD FIELDS LTD, $3, +2.39 pct
** BARRICK GOLD CORP, $7.85, +3.43 pct
** SIBANYE GOLD LTD, $7.67, +2.95 pct
** GOLDCORP INC, $9.78, -0.61 pct
** KINROSS GOLD CORP, $1.44, +4.35 pct
** HARMONY GOLD MINING CO, $1.65, +9.27 pct
U.S.-listed shares of gold miners rose as the precious metal soared more than 1 percent, benefiting from a weaker dollar and ailing European shares, which slid to their lowest since October 2014 as oil continued its slump.
** GNC HOLDINGS INC, $24.84, +5.43 pct
The nutritional products retailer said on Tuesday its fourth quarter domestic same-store sales rose 0.8 percent and the company estimated full-year adjusted earnings at the high end of its forecast range of about $2.87-$2.92 per share, citing higher domestic retail margin.
** TREEHOUSE FOODS INC, $68.08, -4.93 pct
The packaged foods and beverages maker will offer shares worth up to $750 million, partly to fund its acquisition of ConAgra Foods Inc’s private brands business.
** MELCO CROWN ENTERTAINMENT, $13.0842, -8.57 pct
** WYNN RESORTS LTD, $53.08, -10.23 pct
** LAS VEGAS SANDS CORP, $35.32, -8.09 pct
** MGM RESORTS INTERNATIONAL, $17.7, -9.83 pct
Shares of U.S. casino operators fell after China’s stock markets dipped more than 1 percent. Analysts said they expected rising risk of demand disappointment with weakening yuan and slowing Chinese economy. Most of the companies get more than two-thirds of their revenue from China’s offshore gambling destination, Macau
** FIREEYE INC, $13.54, -11.10 pct
Wunderlich Securities cut price target on the cybersecurity firm’s stock to $21.
** EXXON MOBIL CORP, $74.03, -3.10 pct
** CHEVRON CORP, $76.73, -5.86 pct
** SCHLUMBERGER NV, $60.21, -4.15 pct
** CHESAPEAKE ENERGY CORP, $2.8, -9.09 pct
** HESS CORP, $33.93, -7.12 pct
** EOG RESOURCES, $58.42, -4.20 pct
** MARATHON OIL CORP, $7.26, -5.47 pct
** ANADARKO PETROLEUM, $28.7, -6.97 pct
** HALLIBURTON CO, $27.91, -6.31 pct
** TRANSOCEAN LTD, $8.73, -6.03 pct
** OCCIDENTAL PETROLEUM, $59.83, -2.65 pct
** DEVON ENERGY CORP, $20.65, -12.05 pct
Oil futures extended their decline on Wednesday, with U.S. crude touching its lowest since 2003, as a global supply glut bumped up against bearish financial news that sparked deeper worries over demand.
** FREEPORT-MCMORAN INC, $3.57, -9.85 pct
Indonesia would give a verdict regarding the energy and mining company’s $1.7 billion divestment price for its unit in the country by end of first quarter, a mines ministry official said.
** JOY GLOBAL INC, $8.78, -0.57 pct
** CATERPILLAR INC, $57.53, -2.54 pct
Jefferies cut its price target on Joy Global’s stock to $10, citing “negative” macro data. BMO Capital Markets cut its price target on Caterpillar’s shares to $60 from $68, citing a “declining global end market environment across virtually all of its product categories.”
** SOVRAN SELF STORAGE INC, $105, -4.36 pct
The self storage real estate investment trust commenced an offering of 2.3 million shares, granting underwriters a 30-day option to buy up to 345,000 more shares.
** HOSPITALITY PROPERTIES TRUST, $20.77, -7.19 pct
Baird cut its price target on the real estate investment trust’s stock to $28 from $29. Analysts lowered their funds from operations and adjusted EBITDA estimates for the fourth quarter, citing the company’s incentive management fee payment of $62.3 million. (Compiled by Manish Parashar in Bengaluru; Editing by Anil D‘Silva)