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Cobalt Tumbles on Bigger-Than-Expected Loss: Houston Mover

Cobalt International Energy Inc., the deep-water oil explorer whose largest investors include Goldman Sachs Group Inc., fell the most in two months after posting a fourth-quarter loss almost twice the average estimate.

The shares declined 6.1 percent to $31.97 at the close in New York. Before today, the stock had more than doubled in the past year as Cobalt announced discoveries off the coast of Africa and in the Gulf of Mexico, including a field the company said may hold 1 billion barrels of crude.