February 24, 2016 / 2:20 PM / in 2 years

BUZZ-U.S. STOCKS ON THE MOVE-Chesapeake, Etsy, Encana, Dreamworks

(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) U.S. stocks were set to open lower on Wednesday as crude prices slid after top producer Saudi Arabia ruled out production cuts to help tackle a global glut. Dow Jones industrial average futures were down 0.90 percent at 16,249, S&P 500 futures were down 0.87 percent at 1,899.25 and Nasdaq 100 futures were down 1.21 percent at 4,109.

** CHESAPEAKE ENERGY CORP, Tuesday close $2.19, +9.59 pct premarket

U.S. natural gas producer Chesapeake Energy said it would make a debt payment due in March and that it planned to sell more assets as it aims to slash its debt load amid collapsing energy prices.

** SHUTTERFLY INC, Tuesday close $43.98, -2.77 pct premarket

Private equity firm Thomas H. Lee Partners LP has approached U.S. digital imaging company with a preliminary acquisition proposal, people familiar with the matter said on Tuesday.

** JPMORGAN CHASE & CO, Tuesday close $56.12, -1.73 pct premarket

JPMorgan Chase & Co signaled a rough first quarter on Tuesday with double-digit declines in investment banking revenues and a $500 million increase in provisions for expected losses on energy loans.

** JOHNSON & JOHNSON, Tuesday close $104.08, -0.75 pct premarket

The drugmaker was ordered by a Missouri state jury to pay $72 million of damages to the family of a woman whose death from ovarian cancer was linked to her use of the company’s talc-based Baby Powder and Shower to Shower for several decades.

** ALPHABET INC, Tuesday close $717.29, -1.14 pct premarket

Britain’s Committee of Public Accounts said on Wednesday the amount Google, a unit of Alphabet, agreed to pay in a tax settlement with the government was “disproportionately small” when compared with the size of the company’s business in the country.

** FACEBOOK INC, Tuesday close $105.46, -1.38 pct premarket

Facebook said on Wednesday that “Reactions”, an extension of the “Like” button, was now available worldwide.

** DREAMWORKS ANIMATION SKG INC, Tuesday close $21.06, +9.21 pct premarket

Hollywood studio DreamWorks reported better-than-expected quarterly revenue and profit, helped by the worldwide television release of its movie “Home” and higher licensing fees.

** ETSY INC, Tuesday close $7.39, +14.48 pct premarket

The craft goods e-commerce website reported fourth-quarter revenue above analysts’ estimates, helped by growth in transaction and listing fees, and as sales from Direct Checkout benefited from the integration of PayPal.

** YAHOO INC, Tuesday close $30.67, -0.88 pct premarket

Yahoo shareholder Canyon Capital urged the company to proceed quickly with the auction of its core business, citing concern that the Internet giant’s management team does not share the sense of urgency held by the board of directors.

** EXXON MOBIL CORP, Tuesday close $81.23, -1.42 pct premarket

New York state’s comptroller and four other Exxon Mobil shareholders asked the U.S. Securities and Exchange Commission this week to force the oil producer to include a climate change resolution in its annual shareholder proxy, according to a filing seen by Reuters.

** ENCANA CORP, Tuesday close $3.01, +4.32 pct premarket

The Canadian oil and natural gas producer cut its capital budget and production target for 2016 and said it would slash more jobs as the company struggles to cope with a steep fall in oil prices.

** APPLE INC, Tuesday close $94.69, -0.82 pct premarket

The legal showdown between Apple and U.S. law enforcement over encryption, no matter the outcome, will likely accelerate tech company efforts to engineer safeguards against government intrusion, tech industry executives say.

** ALIBABA GROUP HOLDING LTD, Tuesday close $66.97, -1.37 pct premarket

A group of Chinese pharmacy chains has demanded the abolition of a medicine tracking platform run by Alibaba Health Information Technology, piling further pressure on the firm after China’s drug regulator suspended the system on Saturday. (Compiled by Abhirup Roy in Bengaluru; Edited by Shounak Dasgupta)

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