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Stock Market & Financial Investment News

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March 6, 2014
06:04 EDTCHK, ECAMichigan AG: Chesapeake, Encana face criminal antitrust charges, Reuters reports
Michigan Attorney General Bill Schuette says Chesapeake Energy (CHK) and Encana Corp. (ECA) have been charged with colluding to keep oil and gas lease prices artificially low in the state, reports Reuters. Reference Link
News For CHK;ECA From The Last 14 Days
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July 29, 2014
10:03 EDTCHKChesapeake PRB swap, Utica buyback positive, says Wells Fargo
Wells Fargo views the Powder River Basin asset swap that Chesapeake executed and its plans to repurchase preferred shares of its Utica subsidiary as positives for the company, as the swap provides it with a more concentrated, high-quality acreage position and the repurchase simplifies its capital structure. However, the firm noted that the company's Q2 pricing update brings down its EPS estimate for the quarter by 4c. Wells maintains its Market Perform rating on the stock.
08:18 EDTCHKChesapeake sees Q2 realized NGL price ex-items $21.03 per barrel
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08:12 EDTCHKChesapeake agrees to repurchase all outstanding preferred shares of CHK Utica
Chesapeake also announced that it has agreed in principle to repurchase all of the outstanding preferred shares of its unrestricted subsidiary, CHK Utica from third-party preferred shareholders. Under the agreement, Chesapeake will pay approximately $1.26B to repurchase 1,060,000 preferred shares of CHK Utica. The proposed transaction, which is expected to close today, will retire Chesapeake’s highest cost leverage instrument and eliminate approximately $75M in annual cash dividend payments to third-party preferred shareholders. Chesapeake plans to fund the cash portion of the RKI acreage exchange and the repurchase of the CHK Utica preferred shares with available liquidity, including nearly $1.5B of unrestricted cash held on its balance sheet as of June 30. Chesapeake continues to refine its portfolio to focus on assets that best align with the company’s strategy of profitable growth from captured resources and expects to close additional sales of noncore assets, including non-E&P assets, by the end of 2014.
08:11 EDTCHKChesapeake announces exchange agreement with RKI Exploration
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July 25, 2014
13:38 EDTECAEncana upgraded to Buy from Hold at Societe Generale
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July 24, 2014
06:29 EDTECAEncana reports Q2 EPS 23c, consensus 25c
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July 23, 2014
13:34 EDTECAEncana August calls active into Q2 and outlook
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09:36 EDTECAEncana upgraded to Hold from Sell at Tudor Pickering
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July 22, 2014
14:08 EDTECAEarnings Preview: Freeport McMoRan sentiment positive ahead of Q2 report
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July 21, 2014
06:51 EDTECAEncana poised to sell Deep Panuke project this year, Bloomberg says
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July 20, 2014
11:58 EDTCHKCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link

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