SeaWorld sinks, UBS raises Apple price target, Icahn cuts Chesapeake stake

Here are some of the stocks the Yahoo Finance team will be tracking for you today.

SeaWorld (SEAS) shares sank this morning after the embattled theme park operator said it will suspend future dividend payments. The company said it would use the money saved on dividend payments to buy back shares. SeaWorld said it would stop breeding killer whales in March as public scrutiny over its treatment of orcas took a toll on attendance in recent years.

Apple (AAPL) shares are in focus once again after UBS raised its 12-month price target on the stock to $127 per share from $115. The bank cited expectations of higher 2017 earnings and demand for the new iPhone 7, which has been encouraging. Apple shares popped last week on optimism over pre-orders.

Chesapeake Energy (CHK) shares fell in early trading following news late Monday that billionaire investor Carl Icahn cut his stake in the shale driller by more than half to 4.5%. Icahn said he reduced his position for tax reasons and expressed confidence in Chesapeake’s top executives.

Lennar (LEN) reported a beat on both its top and bottom line for its fiscal third quarter. Revenue jumped 13.7% from a year ago as it sold more homes at higher prices.

Wells Fargo (WFC) CEO John Stumpf heads to Capitol Hill today to answer questions about the scandal over sham accounts set up by the bank’s employees to meet sales targets. Wells has already paid $185 million in penalties and fired 5,300 people involved. According to prepared remarks, Stumpf will tell the Senate Banking Committee he’s “deeply sorry” and takes “full responsibility” for the unethical behavior. But he’ll also say there was quote “no orchestrated effort or scheme” by the bank to encourage the allegedly illegal sales practices.