What We're Following This Morning

The morning after the Iowa caucuses: Cruz triumphed over Trump, the Republican front-runner, and Rubio finished in strong third place. Among the Democrats, Clinton and Sanders were in a virtual tie. Huckabee and O’Malley suspended their campaigns. Next stop for the presidential candidates: New Hampshire on February 9. You can read more about the results here.

Low oil prices are hitting bottom lines: BP said it lost $3.3 billion in the fourth quarter of last year. In all of 2015, it said, it lost $6.48 billion. In 2014, it had made a profit of $3.78 billion. The company also said it would cut up to 3,000 more jobs and announced a management shake-up.

It’s Groundhog Day: And, no, I’m not just talking about the never-ending election-campaign season. Punxsutawney Phil’s shadow will be the object of much attention this morning. His predictions about spring have been right less that 40 percent of the time. For skeptics, a better alternative might be this. Update: He predicted an early spring.