Stocks Extend Decline in Early Trading

U.S. stocks extended their decline in the early trading on Wednesday, putting the S&P 500 on pace to stretch its losing streak to three straight sessions. The Dow Jones Industrial average lately fell 78.22 points, or 0.48%, to 16,273.03. The S&P 500 was down 11.93 points, or 0.64%, to 1,855.70. The Nasdaq Composite shed 35.42 points, or 0.82%, to 4,271.77.

King Digital Entertainment Plc, the maker of hit mobile phone game Candy Crush Saga, expects to be worth up to $7.6 billion when it goes public this month as the Irish company looks to take advantage of strong demand for technology investments.

Tesla Motors Inc. will stop selling its luxury electric cars in New Jersey on April 1, after the state said Tuesday it wouldn’t license the company to sell vehicles directly to consumers, bypassing franchised dealers.

Energy XXI Ltd will buy its closest rival EPL Oil & Gas Inc for $1.53 billion as the company looks to better compete with private-equity backed explorers such as Fieldwood Energy in the shallow-water region of the Gulf of Mexico.

Starbucks said Wednesday that it will revamp its mobile payment app on the iPhone to add digital tipping, a new interface and a shake-to-pay feature.