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Stocks Slip as Economy Shrinks

Gold for April delivery surged $18.90 to settle at $1,681.60 an ounce at the Comex division of the New York Mercantile Exchange, while March crude oil futures closed up 37 cents at $97.94 a barrel.

The benchmark 10-year Treasury rose 2/32 to raise the yield to 1.995%. The dollar was down by 0.38%, according to the U.S. dollar index.

Chesapeake Energy (CHK - Get Report) CEO Aubrey McClendon is leaving the company he founded 24 years ago amid strategic differences with the company's new board.

Shares surged 6%.

Broadcom (BRCM) beat analysts' fourth-quarter estimates but guidance from the key Apple partner came in below Wall Street's views.

Shares were up 0.5% on Wednesday.

Copano Energy (CPNO) shares soared 15% after the company agreed to be acquired by Kinder Morgan Energy Partners (KMP) for about $5 billion, including the assumption of debt.

Zynga (ZNGA) shares slid 2.7% amid news that the company's chief game designer Brian Reynolds is leaving the company.

Aegerion Pharmaceuticals (AEGR) shares were off 2.4%. The company is now in the early days of the commercial launch of Juxtapid for the treatment of homozygous familial hypercholesterolemia (HoFH), a rare genetic disease that prevents cholesterol from being cleared from the body.

-- Written by Andrea Tse and Joe Deaux in New York.



>To contact the writer of this article, click here: Andrea Tse.

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