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U.S. stock futures traded sharply lower on Wednesday, tracking losses for Asia and a continued drop in oil prices. Dow Jones Industrial Average futures slid 261 points, or 1.6%, to 15,649, while S&P 500 futures dropped 30.4 points, or 1.6%, to 1,842. Losses were even worse for Nasdaq 100 futures , dropping 79.75 points, or 2%, to 4,064.25. Oil prices hit a fresh 12-year low under $28 a barrel. “Markets continue to plunge with the bears refusing to go into hibernation, spurred along by tumbling oil prices and the scent of volatility in the air,” said Farbod Mimeh, junior dealer at London Capital Group.

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Symantec Corp. said late Tuesday it will get about $1 billion less cash from Carlyle Group LP for the sale of its Veritas data-storage and recovery business to the private-equity firm. In August, Symantec announced the $8 billion deal, which would have yielded $6.3 billion in after-tax proceeds. Now, under an amended deal valued at $7.4 billion, Symantec will get about $5.3 billion in cash after tax and $400 million equity in Veritas. Symantec said it and Carlyle amended the terms “after uncertainties developed regarding the transaction.” Symantec said it expects adjusted third-quarter earnings to be “above the midpoint of the guidance provided” back in November, when it had forecast adjusted third-quarter earnings of 22 cents to 25 cents a share. Analysts surveyed by FactSet had estimated 24 cents a share.

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Microchip Technology Inc. said Tuesday it has agreed to buy Atmel Corp. for about $3.56 billion in a cash and stock deal that ends a bidding war for Atmel. Atmel had been courted since September by Dialog Semiconductor, but Dialog last week said it wouldn’t increase its buyout offer. The deal with Microchip is expected to close in the second quarter. Shares of Microchip rose less than 1% in late trading Tuesday after ending the regular session up 2.9%; shares of Atmel declined 0.1% after ending the day up 0.8%.

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Advanced Micro Devices Inc. shares dropped in the extended session Tuesday after the chip maker’s forecast revenue range for the first quarter mostly fell below the Wall Street consensus. AMD shares declined 6.7% to $1.82. The company estimated first-quarter revenue would decline 14%, plus or minus 3 percentage points, from the year-ago quarter. That translates into $885.8 million, or $854.9 million at the low end and $916.7 million at the high end. Analysts had forecast revenue of $898.5 million. AMD reported an adjusted fourth-quarter loss of 10 cents a share on revenue of $958 million. Analysts had estimated a loss of 10 cents a share on revenue of $954.7 million.

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Netflix Inc. shares jumped late Tuesday after the streaming company beat Wall Street earnings expectations. Netflix said it earned $43 million, or 10 cents a share, in the fourth quarter, compared with $83 million, or 19 cents a share, in the year-ago period. Revenue hit $1.82 billion in the quarter, compared with $1.48 billion a year ago. Analysts polled by FactSet had expected the Internet streaming company to report earnings of 2 cents a share on sales of $1.83 billion. The company said it ended 2015 with a net addition of 17 million members, just shy of 75 million members by the end of the quarter. It predicted it will grow by more than 6 million users in the first quarter given its international expansion. It also predicted “modest” operating income results for the current quarter as it invests in its overseas business. Shares of Netflix rose 8.3% in late trading Tuesday after ending the regular session up 3.7%.

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Shares of International Business Machines Corp. dropped in Tuesday’s extended session after the technology giant reported its revenue fell year-on-year for a 15th straight quarter. IBM said its fourth-quarter earnings fell to $4.46 billion, or $4.46 a share, from $5.48 billion, or $5.51 a share, a year earlier. Excluding charges and items, Big Blue would have earned $4.84 a share. Revenue shrank to $22.06 billion versus $24.11 billion. Analysts surveyed by FactSet had forecast earnings of $4.81 a share on revenue of $22.09 billion. IBM shares fell 1.7% in after-hours trading.

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Cree Inc. shares rose in the extended session Thursday after the LED light maker’s quarterly results topped Wall Street estimates and gave a mixed outlook. Cree shares rallied 6.6% to $25.90. The company reported adjusted fiscal second-quarter earnings of 30 cents a share on revenue of $435.8 million. Analysts surveyed by FactSet had estimated 24 cents a share on revenue of $434.8 million. Cree said it expects adjusted fiscal third-quarter earnings of 22 cents to 29 cents a share on revenue of $400 million to $430 million. Analysts had forecast 23 cents a share on revenue of $431.8 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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U.S. stocks closed marginally higher on Tuesday, as the main indexes struggled to regain momentum following a renewed rout in oil prices. The S&P 500 closed a point higher at 1,881.36. The Dow Jones Industrial Average added 27.80 points, or 0.2%, to 16,015.88. Meanwhile, the Nasdaq Composite ended the day down 11.47 points, or 0.3%, at 4,476.95.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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