Wall Street pain continues; Snapchat/Viacom deal; Bloomberg presidential talk

It’s shaping up to be another ugly day on Wall Street as global growth concerns continue to weigh on sentiment.

All three major indexes (^DJI, ^GSPC, ^IXIC) are starting the day with heavy losses after the selling in global markets intensified overnight with the Nikkei (^N225) closing down more than 5% and yields on longer-term Japanese bonds falling below zero for the first time as investors look for safer investments.

Oil(CLH16.NYM) also remains on investors’ minds after the International Energy Agency said demand growth will likely slow considerably this year.

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Coca-Cola (KO) reported better-than-expected earnings and revenue for the fourth quarter, as aggressive cost cuts and higher volume and pricing helped offset the impact of a stronger dollar. Coke also said it's accelerating its bottler-refranchising efforts.  

Viacom (VIA) (VIAB) and Snapchat are taking their business partnership a step further. The two companies have extended a deal that will allow Viacom to sell advertising on Snapchat's mobile app's behalf. The deal was announced as Viacom posted earnings per share that came right in line with estimates, while revenue missed forecasts, as domestic ad sales declined and it posted weak performance in its cable and film divisions.

Wendy's (WEN) delivered a slight beat on both its top and bottom lines for the fourth quarter, as same-store sales growth improved in North America, as it expanded its menu offerings and renovated restaurants to attract more customers.

Sears (SHLD) warned that fourth-quarter sales will be weaker than expected after a challenging holiday season. The company plans to speed up store closures and make even deeper cost cuts as a result. Sears is due to report quarterly results at the end of the month. 

Gap (GPS) provided an upbeat outlook for the fourth quarter and the year despite reporting a decline in sales in all three of its brands, which include Gap, Old Navy, and Banana Republic stores during its holiday quarter.  

Bloomberg for president

And finally, the hints were being dropped a few weeks ago, but now billionaire Mike Bloomberg says he's definitely considering a run for president as an independent. The media mogul and former New York City mayor told London's Financial Times that he's disturbed by what he calls the "banal discourse" in this year's campaign, calling it an insult to voters.