Wall Street is off to another rocky start this morning. All three major indexes (^DJI, ^GSPC, ^IXIC) are struggling to build on yesterday's gains at this hour as investors remain in lock step with oil prices (CLH16.NYM) and keep close tabs on the slumping dollar.
On the economic front, the number of people filing for first-time jobless benefits rose more than expected last week. The labor department reported initial jobless claims rose by 8,000 to 285,000.
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GoPro (GPRO) hit a 52-week low in early trading. The wearable camera maker warned of weaker-than-expected sales in its current quarter after swinging to a loss in its holiday quarter. Revenue also missed estimates with sales falling 31% from a year earlier.
Viacom's (VIA) board looks set to replace media mogul Sumner Redstone as chairman when it meets today. This comes after CBS (CBS) announced Redstone was resigning as chairman and that CBS CEO Leslie Moonves will be taking his place.
Credit Suisse (CS), Switzerland's second largest bank, posted its first annual loss since the financial crisis after writing down the value of its investment banking business. The company also said it's stepping up its cost-cutting efforts and slashing 4,000 jobs.
ConocoPhillips (COP) is the latest casualty of falling oil prices. The largest U.S. independent oil and gas company reported a much-bigger-than-expected loss of $3.5 billion for the fourth quarter and slashed its dividend and capital spending. The company did not disclose sales figures for the quarter or the full year.
Glu Mobile (GLUU), the company behind the popular "Kim Kardashian: Hollywood Game," is now teaming up with Taylor Swift in an exclusive multi-year deal to develop a mobile game for the mega pop star. Glu Mobile said the game will be released later this year, but didn't provide any more details.
Facebook turns “12”
It's a birthday party for Facebook (FB). The Yahoo Finance "2015 Company of the Year" is celebrating the 12th anniversary of its creation by co-founder and CEO Mark Zuckerberg. Zuckerberg says that by 2030, he hopes to have 5 billion users worldwide. Take note:—there are only 7 billion people currently on the planet.
Walmart at the pump
And Walmart (WMT) wants to "pump you up." The world's largest brick-and-mortar retailer is now going to build and operate gas pumps at its stores. Previously, that was handled by gas station and convenience store provider Murphy USA (MUSA), which will continue to run those already in existence.
