(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was deep in the red in volatile trading on Monday, as technology stocks continued to sell off and oil prices remained under pressure, sending investors scurrying to safe-haven assets. The Dow Jones industrial average was down 2.21 percent at 15,846.66, the S&P 500 was down 2.30 percent at 1,836.85 and the Nasdaq Composite was down 2.90 percent at 4,236.455.
** CHESAPEAKE ENERGY, $1.99, -34.97 pct
The natural gas producer has tapped adviser Kirkland & Ellis to explore restructuring options, people familiar with the matter told Reuters.
** CTI BIOPHARMA CORP, $0.4328, -61.36 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, $1.981, -67.74 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, $8.495, +22.23 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, $9.63, +11.98 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, $6.055, -7.98 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, $2.56, +11.30 pct
** ELDORADO GOLD CORP, $2.95, +3.15 pct
** BARRICK GOLD CORP, $12.235, +5.11 pct
** NEWMONT MINING CORP, $25.39, +4.01 pct
** ANGLOGOLD ASHANTI LTD, $11.15, +3.91 pct
** FIRST MAJESTIC SILVER CORP, $3.94, +9.75 pct
** ENDEAVOUR SILVER CORP, $1.585, +17.41 pct
** SILVER STANDARD RESOURCES INC, $5.73, +5.92 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, $29.02, +7.32 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, $10.6926, -12.50 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, $18.59, -1.38 pct
** LOEWS CORP, $36.06, -0.63 pct
** CNA FINANCIAL CORP, $30.97, -4.62 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.
** AURINIA PHARMACEUTICALS INC, $2.54, +15.98 pct
The company says its experimental drug, Voclosporin, reduced excessive protein in urine by 25 pct in patients with lupus nephritis at eight weeks of treatment.
** WAYFAIR INC, $35.89, -10.99 pct
Short seller Citron said the stock was worth $5.”... Wayfair still the worst biz model on the internet. It could go away and no one would care,” Citron tweet says.
** ANAVEX LIFE SCIENCES CORP, $4.1, -11.64 pct
The company’s Q1 loss doubles to 12 cents per share as operating costs rise five times due to clinical trials and expanded team.
** TESLA MOTORS INC, $147.8099, -9.10 pct
Credit Suisse lowers 2017 EPS estimate to $5.50 from $5.55, citing slower-than-expected Model X SUV ramp.
** DEXCOM INC, $49.185, -20.64 pct
Baird analyst says upcoming competitive product launches in the diabetes market such as Medtronic Plc’s insulin pump and Abbott Labs’ could mean incremental risk for DexCom.
** LENNAR CORP, $38.32, -3.06 pct
** TOLL BROHTER INC, $25.31, -3.54 pct
** WILLIAM LYON HOME, $9.2, -12.88 pct
** D.R. HORTON INC, $23.63, -3.31 pct
** NEW HOME CO INC, $7.97, -4.67 pct
** WCI COMMUNITIES INC, $18.35, -3.73 pct
** GREEN BRICK PARTNERS INC, $5.208, -2.29 pct
** PULTEGROUP INC, $15.87, -2.22 pct
U.S. homebuilders’ stocks down after Credit Suisse cuts price targets on multiple companies, citing “stubbornly sluggish” demand that remains below real estate agents’ expectations. Credit Suisse analysts say agent commentary widely highlight incremental economic concerns (including market volatility), on top of the existing challenges, including less favorable affordability and limited quality supply.
** GOLDMAN SACHS, $146.47, -6.39 pct
** MORGAN STANLEY, $22.75, -6.57 pct
** DEUTSCHE BANK, $15.305, -9.38 pct
** CREDIT SUISSE, $14.31, -4.47 pct
Shares of big U.S. banks fall more than 5 percent in morning trading. The fall follows sharp declines in European banks where shares of 2 majors — Deutsche Bank and Credit Suisse — are now below the post-Lehman lows.
** HEALTHEQUITY INC, $17.81, +12.22 pct
The company says total number of health savings accounts as of Jan. 31 up 50 pct from a year earlier at 2.1 million.
** BRIXMOR PROPERTY GROUP INC, $20.77, -21.39 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, $54.625, -6.69 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, $53.5, -6.34 pct
** PHILLIPS 66, $74.71, -4.62 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, $15.28, -2.80 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, $28.46, -5.23 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, $3.52, -5.63 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, $39.54, -6.48 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, $23.845, +3.85 pct
The company to replace SolarWinds Inc in S&P MidCap 400 after close of trading on Monday. (Compiled by Rosmi Shaji in Bengaluru; Editing by Maju Samuel)