(Corrects Chesapeake Energy item to say the company has tapped its existing adviser to explore restructuring options, not that the adviser has been newly hired) Wall Street was deep in the red on Monday as technology stocks extended a selloff from Friday and U.S. crude oil slipped below $30 per barrel, sending investors scurrying for cover to safe-haven assets. The Dow Jones industrial average was down 2.08 percent at 15,867.58, the S&P 500 was down 2.10 percent at 1,840.48 and the Nasdaq Composite was down 2.64 percent at 4,247.83.
** CHESAPEAKE ENERGY, $2.14, -30.07 pct
Chesapeake has tapped existing adviser Kirkland & Ellis to explore restructuring options, people familiar with the matter say.
** CTI BIOPHARMA CORP, $0.49, -56.25 pct
The drug developer says the U.S. FDA has placed a partial clinical hold on studies for its lead cancer drug, pacritinib.
** BIOCRYST PHARMACEUTICALS INC, $1.9501, -68.24 pct
The drug developer said its lead drug failed to reduce the frequency of recurrent swelling in patients with hereditary angioedema.
** APOLLO EDUCATION GROUP INC, $8.7, +25.18 pct
The owner of the University of Phoenix said on Monday it would be taken private by a consortium in a deal valued at $1.1 billion.
** SIENTRA INC, $9.33, +8.49 pct
The breast implant maker said it will resume selling all of its medical devices in the U.S. market from March 1, four months after it suspended sales of its breast implant devices to ensure technical compliance.
** FIAT CHRYSLER AUTOMOBILES NV, $6.02, -8.51 pct
U.S. federal regulators are escalating a probe over complaints that some of the company’s vehicles can roll away when driver thinks transmission has been set to park.
** KINROSS GOLD CORP, $2.555, +11.09 pct
** ELDORADO GOLD CORP, $2.96, +3.50 pct
** BARRICK GOLD CORP, $12.22, +4.98 pct
** NEWMONT MINING CORP, $25.5, +4.47 pct
** ANGLOGOLD ASHANTI LTD, $11.18, +4.19 pct
** FIRST MAJESTIC SILVER CORP, $3.97, +10.59 pct
** ENDEAVOUR SILVER CORP, $1.55, +14.81 pct
** SILVER STANDARD RESOURCES INC, $5.79, +7.02 pct
Spot gold hits peak of $1,182.60 per ounce, its strongest since Oct. 16; it was up 0.5 pct at $1,178.76 at 1326 GMT. Silver up 0.3 pct at $15.01 per ounce.
** OUTERWALL INC, $28.82, +6.58 pct
Activist hedge fund Engaged Capital LLC reported a 14.1 percent stake in Outerwall, the operator of Redbox video rental kiosks.
** SAREPTA THERAPEUTICS INC, $10.86, -11.13 pct
The company said the U.S. FDA had delayed a decision on its lead drug for a rare muscle-wasting disorder.
** DIAMOND OFFSHORE DRILLING INC, $19.33, +2.55 pct
** LOEWS CORP, $35.75, -1.49 pct
** CNA FINANCIAL CORP, $30.91, -4.80 pct
Diamond Offshore, one of the world’s top five offshore rig contractors, reported a better-than-expected quarterly profit as cost cutting pays off, and the company said it was suspending its dividend to add to cost savings.
Loews, which owns a majority stake in Diamond Offshore, swung to a loss in the fourth quarter. Loews, controlled by New York’s wealthy Tisch family was hurt by a $499 million impairment charge at Diamond Offshore and lower revenue from its insurance business, CNA Financial.
** BRIXMOR PROPERTY GROUP INC, $21.15, -19.95 pct
The company said three of its top officers, including its chief executive, had resigned after an internal accounting review showed discrepancies in the company’s financial statements. RBC Capital cuts rating on the stock.
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, $54.7542, -6.47 pct
The IT services provider forecast its slowest revenue growth in 14 years for the current quarter as clients worldwide rein in IT spending.
** VALERO ENERGY CORP, $53.41, -6.50 pct
** PHILLIPS 66, $74.48, -4.92 pct
The companies say they are in “max gasoline mode,” pumping out as much as they can as a mild winter, economic uncertainty and a stinging slump in oil drilling squeezed U.S. diesel demand. The largest U.S. independent refiners are bullish on domestic gasoline demand as super-cheap fuel and the lure of bigger vehicles entice more consumers.
** TWITTER, $15.27, -2.86 pct
The hashtag #RIPTwitter became the top trending U.S. item on Twitter on Saturday, after a report from BuzzFeed said the company is planning to change how it displays users’ tweets.
** ASTRAZENECA PLC, $28.36, -5.56 pct
HSBC cuts rating on the drugmaker to “hold” from “buy”, saying “concerns over portfolio strategy and a near-term lack of growth may outweigh the longer-term potential in investors’ minds”.
** ARCELORMITTAL, $3.58, -4.02 pct
Berenberg cuts its rating on the stock, saying it did not expect a $3 bln capital increase so early. ArcelorMittal launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs.
** ARM HOLDINGS, $39.83, -5.79 pct
Royalty expectations for 2016 seem a bit high, says Credit Suisse - which is rated at five stars for recommendation accuracy on ARM, according to StarMine.
** SPROUTS FARMERS MARKET INC, $23.65, +3.01 pct
The company to replace SolarWinds Inc in S&P MidCap 400 after close of trading on Monday.
** VIMPELCOM, $3.38, -2.03 pct
EU antitrust regulators will decide by March 11 whether to allow CK Hutchison Holdings Ltd and Vimpelcom to merge their Italian mobile operations, marking the Hong Kong group’s second European telecoms deal under EU review. (Compiled by Rosmi Shaji in Bengaluru; Editing by Maju Samuel)