UPDATE 10-Oil down on U.S. build worry; Saudi-Venezuela talks uninspiring The survey came after Sunday's meeting between Saudi Arabia's oil minister, Ali al-Naimi, and his Venezuelan counterpart produced no tangible signs that OPEC and non- OPEC suppliers were ready to meet to discuss the price slump in oil. U.S. crude settled below $30 a barrel, finishing down $1.20 at $29.69. "Everyone's fearing new builds in crude," said Donald Morton,...
| By: Devika Krishna Kumar and Barani Krishnan
DoubleLine's Gundlach calls market trends 'relentless and powerful' NEW YORK, Feb 8- Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, repeated a December warning on Monday that the dramatic slowdown in global growth will trigger a collapse in some credit funds, saying that the high-yield "junk" bond market still has not hit bottom. The VIX, known as Wall Street's fear gauge, has not touched 40 since late...
| By: Jennifer Ablan
Oil plunge causing cash crunch for Euro banks European banks' energy exposure is hitting their stocks worse than U.S. counterparts. Now, they may have to unload assets to satisfy shareholders — and regulators.
| By: Jon Marino
GRAINS-U.S. soybeans set new 2016 low as rains hit dry Argentina *Argentina crops benefit during critical weekend. CHICAGO, Feb 8- U.S. soybean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Soybean traders focused on Argentina after storms brought moisture to dry fields during a key time for crop development.
| By: Tom Polansek
Daily Journal posts 1Q profit LOS ANGELES _ Daily Journal Corp. on Monday reported fiscal first-quarter profit of $50,000. Daily Journal shares have fallen 15 percent since the beginning of the year. Keywords: Daily Journal, Earnings Report.
Source: The Associated Press
Tech investors get painful reality check Worsening prospects are finally prompting shareholders to question the rosy adjusted-earnings scenarios often touted for tech companies.
| By: By Robert Cyran
Chesapeake: No plans to pursue bankruptcy Shares of the company were halted more than eight times on Monday morning amid earlier claims that Chesapeake had hired restructuring attorneys.
| By: Krysia Lenzo
UPDATE 1-Noranda Aluminum hit by commodity crash, seeks bankruptcy Over the past year scores of commodity-related businesses have filed for bankruptcy as prices for metals, energy and coal have plummeted amid a slowdown in markets such as China and Brazil. "This is due to a number of factors, principal among them is the sustained and dramatic decline in the price of primary aluminum," Chief Financial Officer Dale Boyles said in a...
| By: Shivam Srivastava and Tracy Rucinski
US STOCKS-Wall St bleeds as financials, tech stocks sell off Feb 8- Wall Street sank sharply on Monday as financial stocks sold off amid worries about interest rates and investors backed off from richly valued tech and consumer stocks amid persistent fears of a global slowdown. The technology-heavy Nasdaq Composite fell 2.5 percent to its lowest since October 2014, weighed down by Microsoft, Amazon and Facebook, stocks...
| By: Abhiram Nandakumar