Chesapeake Energy lost more than $1 billion in stock-market value in 46 minutes of trading on Friday after the company disclosed it might be forced to delay plans to sell assets to fund its operations this year.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon will resign from the company he built into the second-largest U.S. natural gas producer after scrutiny of his personal finances and a corporate cash crunch erased as much as 43% of its market value last year.
By Osman Gulseven:Chesapeake Energy (CHK) is among the most widely followed energy companies in the U.S. Established in 1989, the Oklahoma-headquartered company is primarily engaged in the natural gas and oil development in North America. The company holds substantial interests in several natural gas resource basins, as well as liquids-rich resource plays.
Myriad Asset Management, led by Chief Investment Officer Carl Huttenlocher is reported to have sold the bulk of its Alibaba Group Holding Ltd (NYSE:BABA) stake last year. The strategic move was executed in an attempt to financially gain from Alibaba’s record-breaking IPO of $25 billion.
Dean Foods (DF) announced its second-quarter (2Q) earnings for fiscal 2014 (FY14) today, and reported a loss of 14 cents per share compared to analysts’ expectations of 6 cents loss per share. The adjusted EPS declined 154% YoY, as the second quarter proved to be more challenging than the company had anticipated.
CALGARY — Athabasca Oil Corp. shares fell Monday as the company sought to assure investors over receipt of a cash windfall from PetroChina Co.
Athabasca issued a statement Monday saying it was providing an update on the transaction “in light of recent market speculation and investor queries” over whether the Chinese energy giant would follow through with a $1.23-billion payment tied to Athabasca’s Dover oil sands property.
By Devon Shire: Being an outside investor is hard. Any time the shares of a publicly traded company you own start underperforming its peer group you wonder if there isn’t something going on that you don’t know. You are just an outsider and perhaps other people have better information than you do?
HudBay Minerals Inc., the third-best-performing Canadian mining stock this year, is willing to spend as much as 20 percent of its C$1.97 billion ($1.97 billion) market value on deals to replenish its development pipeline.
The copper and zinc producer, which expects to more than quadruple copper output by 2015, will capitalize on a “buyers’ market” for mining assets as small companies struggle to raise funds and larger competitors consider sales, Chief Executive Officer David Garofalo said yesterday.
Some better than expected economic news out of Europe, Greek 10 Year yields dropping to 7.65% or the lowest since May 2010, and futures are... red? Alas, such is life in a world in which the S&P500, aka the E-mini, is simply a derivative of the Yen funding currency pairs, where the USDJPY touched on 105 after a straight line diagonal move only to sell off in recent trading.