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Stock Market & Financial Investment News

News Breaks
May 2, 2011
16:12 EDTCHK
theflyonthewall.com: Chesapeake expects to increase Utica drilling to six rigs by end of Q3
To date, the company has drilled nine operated Utica wells and is currently drilling with three operated rigs. Chesapeake plans to increase its operated drilling activity in the Utica to six rigs by the end of Q3. The company expects to initiate a joint venture process in the 2011 second half for both the Mississippian and Utica plays. :theflyonthewall.com



News For CHK From The Last 14 Days
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May 24, 2012
16:24 EDTCHK
theflyonthewall.com: BlackRock now has 4-5M shares of Chesapeake, CNBC says
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16:23 EDTCHK
theflyonthewall.com: BlackRock has dramatically increased Chesapeake stake, reports CNBC

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15:54 EDTCHK
theflyonthewall.com: Icahn said to be major Chesapeake holder, Bloomberg says
Carl Icahn has become one of Chesapeake's (CHK) largest shareholders, with a stake possibly more than 4%, says Bloomberg Businessweek, citing a person familiar with the matter. Reference Link :theflyonthewall.com
15:39 EDTCHK
theflyonthewall.com: Ichan's stake in Chesapeake possibly 4% or more, Bloomberg reports

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15:38 EDTCHK
theflyonthewall.com: Icahn buys major stake in Chesapeake Energy, Bloomberg says

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14:56 EDTCHK
theflyonthewall.com: Chesapeake says June annual meeting should be held, Bloomberg says

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12:51 EDTCHK
theflyonthewall.com: Chesapeake puts Wyoming, Colorado acreage up for sale, Reuters reports

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07:20 EDTCHK
theflyonthewall.com: IEA says U.S. emissions drop on switch from coal to shale gas, FT reports

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06:10 EDTCHK
theflyonthewall.com: Chesapeake increases its bet on Utica Shale, WSJ reports

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May 23, 2012
16:03 EDTCHK
theflyonthewall.com: Chesapeake sends letter to shareholders ahead of annual meeting

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08:04 EDTCHK
theflyonthewall.com: Chesapeake asset sales may not meet company plan, says JPMorgan

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May 22, 2012
12:22 EDTCHK
theflyonthewall.com: Stocks with call strike movement; CHK MGM
Chesapeake (CHK) June 16 call volatility decreased 7%, MGM Resorts (MGM) July 11 call volatility decreased 2% according to iVolatility. :theflyonthewall.com
12:06 EDTCHK
theflyonthewall.com: Chesapeake could "dial back" CapEx if they need to for liquidity

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12:04 EDTCHK
theflyonthewall.com: Chesapeake sees willing market for asset sales
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11:47 EDTCHK
theflyonthewall.com: Chesapeake says oil "land grab" coming to close; now focus on efficiency

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10:05 EDTCHK
theflyonthewall.com: Chesapeake volatility stays elevated on wide price movement
Chesapeake June put option implied volatility is at 76, below a level of 91 from May 15, July is at 85; above its 26-week average of 49 according to Track Data, suggesting larger price movement. :theflyonthewall.com
09:46 EDTCHK
theflyonthewall.com: Chesapeake says Eagle Ford VPP may or may not be completed by end of Q3
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09:44 EDTCHK
theflyonthewall.com: Chesapeake sees 33% liquids production increase in 2012
The company expects liquids to constitute 19% of its total production as of the end of 2012. :theflyonthewall.com
09:42 EDTCHK
theflyonthewall.com: Chesapeake reiterates 2012 production growth increase guidance of 9%
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09:37 EDTCHK
theflyonthewall.com: Chesapeake says attacks against it have failed and will continue to fail

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08:26 EDTCHK
theflyonthewall.com: BMO Capital hosts an analyst Energy E&P/Industry conference call
Energy E&P update and outlook conference call will be held on May 22 at 11 am. Relevant tickers include NFX, BCEI, KOG, NOG, EQT, RRC, SWN, CHK, GDP, REXX, FST, XCO, KWK.. :theflyonthewall.com
08:02 EDTCHK
theflyonthewall.com: Chesapeake sell-off creates buying opportunity, says Oppenheimer

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May 21, 2012
12:19 EDTCHK
theflyonthewall.com: Stocks with call strike movement; CHK ZNGA

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07:15 EDTCHK
theflyonthewall.com: UBS to host a conference
Global Oil and Gas Conference is being held in Austin, Texas on May 21-24 beginning with a networking dinner on May 21 at 6:30 pm followed by company presentations on May 22-24. :theflyonthewall.com
06:12 EDTCHK
theflyonthewall.com: Chesapeake Energy accounting makes determining costs diffiicult, WSJ reports

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May 18, 2012
16:03 EDTCHK
theflyonthewall.com: Chesapeake reduces board compensation
The board announced that it has adopted a new compensation arrangement for outside directors that reduces compensation by approximately 20% and eliminates the use of fractionally owned aircraft for personal travel by outside directors. As noted in Chesapeake's recently filed proxy statement, the board had been reviewing its compensation for 2012 and beyond and today's announcement completes that review process for the Board's compensation arrangements. Under the new Board compensation arrangement, which is effective immediately, outside directors will receive total annual compensation of $350,000, comprised of a $100,000 cash component and a $250,000 equity component. This reduces director compensation to a level at or below the average director compensation of the company's peers. :theflyonthewall.com
12:09 EDTCHK
theflyonthewall.com: Stocks with call strike movement; CHK CRM
Chesapeake (CHK) June 13 call volatility decreased 4%, Salesforce.com (CRM) May 145 call volatility decreased 54% according to iVolatility. :theflyonthewall.com
06:02 EDTCHK
theflyonthewall.com: NY pension fund against Chesapeake directors, WSJ reports
The City of New York Office of the Comptroller, representing pension funds that own 1.9M shares of Chesapeake Energy (CHK), opposes the two directors who are up for election, saying they failed to monitor financial activities of the company's CEO, reports the Wall Street Journal. They are: V. Burns Hargis, president of Oklahoma State University, and Richard K. Davidson, former CEO of Union Pacific Corp. Reference Link :theflyonthewall.com

May 17, 2012
13:12 EDTCHK
theflyonthewall.com: Analysts see Chevron, Total, BP as potential Chesapeake acquirerers, FT says

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12:29 EDTCHK
theflyonthewall.com: Stocks with call strike movement; CHK BAC
Chesapeake (CHK) June 15 call volatility decreased 2%, Bank of America (BAC) June 12 call volatility increased 7% according to iVolatility. :theflyonthewall.com
08:04 EDTCHK
theflyonthewall.com: Shell sees U.S. natural gas prices doubling by 2015, FT reports

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May 16, 2012
09:30 EDTCHK
theflyonthewall.com: Stice: Chesapeake unlikely to sell Chesapeake Midstream stock, Bloomberg says

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08:49 EDTCHK
theflyonthewall.com: Boone Pickens says "don't bet against" Chesapeake CEO Aubrey McClendon

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08:46 EDTCHK
theflyonthewall.com: Boone Pickens says his fund has no short positions in Chesapeake
Pickens is speaking on CNBC. :theflyonthewall.com
04:45 EDTCHK
theflyonthewall.com: Jim Cramer's "Mad Money"

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May 15, 2012
17:02 EDTCHK
theflyonthewall.com: BP Capital reports decreased stake in Chesapeake
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16:55 EDTCHK
theflyonthewall.com: Chesapeake increases term loan to $4B, cites investor demand

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09:51 EDTCHK
theflyonthewall.com: Chesapeake set to test recent multi-year low at $14.49

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09:47 EDTCHK
theflyonthewall.com: Chesapeake June 6 puts active at elevated prices

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09:44 EDTCHK
theflyonthewall.com: Active equity option families in first 10-minutes

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07:24 EDTCHK
theflyonthewall.com: Chesapeake bond investors rattled by terms of company's new loan, WSJ says

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07:13 EDTCHK
theflyonthewall.com: Barclays to host a conference

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05:03 EDTCHK
theflyonthewall.com: Jim Cramer's "Mad Money"

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May 14, 2012
16:22 EDTCHK
theflyonthewall.com: On The Fly: Closing Wrap
Stocks on Wall Street were lower as fears mounted of a possible disorderly Greek exit from the euro currency. Stock futures were lower to begin the week as the market took its cue from the European markets, which were sharply lower. The weakness was attributed to Greece’s inability to form a coalition government and the prospect that the euro zone’s firewall will prove insufficient to shield Spain and other embattled countries against the effect of a Greek catastrophe. Weaker demand data out of China, highlighted by that country's policy response, certainly did not help either. The U.S. market opened sharply lower and continued its drop until finally finding a level about an hour into trading. With the financial sector still reeling from JP Morgan's (JPM) trading loss and the associated fallout, the averages tried in vain to recapture their losses before faltering again in the afternoon... ECONOMIC EVENTS: Domestically, there was little on the economic calendar. In Europe, stock markets plunged and the yields on benchmark sovereign debt in Greece, Spain and Italy spiked as Greece continues to be unable to form a new government. In China, the central bank announced plans over the weekend to cut its bank reserve requirement by 0.5 percentage points after economic readings showed industrial production growth had slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained 2% after activist investor Dan Loeb won a spot on the company's board, along with two of his other nominees, and the company's CEO Scott Thompson quit over the resume inaccuracy that Loeb brought to light... Chesapeake Energy (CHK) also jumped as it was linked to a prominent activist investor, as shares rose 4.79% after the Wall Street Journal reported that Carl Icahn will likely reveal he once again has increased his stake in the company. The company also said after the close on Friday that it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets and said on its call today to discuss the financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... MAJOR MOVERS: Among the notable gainers was Groupon (GRPN), up $1.84, or 18.54%, to $11.73, ahead of its earnings report after the bell and up another 11% in the after market when its earnings and revenue beat expectations. Also higher were shares of Francesca's (FRAN), up $1.58, or 6.60%, to $25.60, after the company raised its earnings and same store sales guidance for its upcoming report and terminated its CFO for improper communication via social media. Noteworthy losers included Ancestry.com (ACOM), down $3.59, or 13.72%, to $22.57, following NBC's cancellation of the show "Who Do You Think You Are?", which featured the company's technology and services, and InterOil (IOC), down $3.88, or 6.73%, to $53.73, after the company said it received a notice that Papua New Guinea's government will cancel a liquefied natural gas project in the country... INDICES: The Dow lost 125.25, or 0.98%, to 12,695.35; the Nasdaq fell 31.24, or 1.06%, to 2,902.58; and the S&P 500 dropped 15.04, or 1.11%, to 1,338.35. :theflyonthewall.com
16:06 EDTCHK
theflyonthewall.com: Options Update; May 14, 2012

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12:18 EDTCHK
theflyonthewall.com: On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, as investors worried about Europe and China. Stocks began the day sharply lower on the heels of a sell off in the European markets. The weakness overseas was attributed to concern over Greece’s inability to form a coalition government, putting its continued participation in the euro zone in greater doubt. The weakness spread to the U.S., where the financial sector remains in turmoil following JP Morgan’s (JPM) trading loss. The market opened lower but the selling intensified before finding a level where it began to recapture some of its losses. The market has essentially drifted off its lows to cut its losses in half... ECONOMIC EVENTS: In the U.S., there was little on the economic calendar to distract investors from worries about Europe and China. In Europe, the yields on 10-year Greek, Spanish and Italian bonds all climbed while German bond yields declined to historically low levels as fear continues to mount about the potential exit of Greece from the euro currency. Stock markets across Europe plunged as well. In China, the central bank took action over the weekend to stimulate slowing growth, as it announced plans to cut its bank reserve requirement by 0.5 percentage points the day after economic readings showed inflation, industrial production growth, spending and lending had all slowed... COMPANY NEWS: Yahoo! (YHOO) shares gained almost 3% after its CEO Scott Thompson relented to pressure and stepped down following a firestorm over a computer science degree he never received. The company also reached a deal with activist shareholder Dan Loeb of Third Point, who had initially disclosed Thompson's resume problems, as the company agreed to allow Loeb and two other Third Point nominees to join its board... Another recently embattled company, Chesapeake Energy (CHK), jumped 7% after the company said it had arranged for a $3B unsecured loan to aid its financial flexibility as it continues to sell off assets. Also, the Wall Street Journal reported that activist investor Carl Icahn will likely reveal he once again has increased his stake in Chesapeake, and the company said on its call to discuss its financing that it "wouldn't be surprised" if Icahn becomes a large shareholder... JPMorgan Chase (JPM) continues to deal with the fallout of its $2B trading loss, as the bank announced that its Chief Investment Officer Ina Drew will retire, to be replaced by Matt Zames, and the bank's stock fell another 2%... Best Buy (BBY) Chairman Richard Schulze will step down when his term ends after the company's investigation into its former CEO Brian Dunn found that Dunn violated policy by engaging in an inappropriate personal relationship with a female employee and Schulze failed to bring the matter to the board's audit committee when he first learned of the allegations... MAJOR MOVERS: Among the notable gainers were Golfsmith (GOLF), up 28%, after agreeing to be acquired by Canada's Golf Town for $6.10 per share in cash, and Citizens South Banking (CSBC), up 24%, following its announcement that it will merge with Park Sterling Corporation (PSTB). Also higher were shares of Avon (AVP), up more than 4%, after the company responded to the latest $24.75 per share buyout offer from Coty, but asked for another week to make a decision on the bid... Noteworthy losers included Ancestry.com (ACOM), down 13%, following NBC's decision not to renew the TV show "Who Do You Think You Are?", and InterOil (IOC), down 9%, after the company got notice from Papua New Guinea of the state's intention to cancel an LNG project agreement... INDICES: Near noon, the Dow was down 82.07, or 0.64%, to 12,738.53; the Nasdaq was down 16.01, or 0.55%, to 2,917.81; and the S&P 500 was down 9.14, or 0.68%, to 1,344.25. :theflyonthewall.com
12:00 EDTCHK
theflyonthewall.com: Chesapeake rises 6.9%

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09:26 EDTCHK
theflyonthewall.com: Chesapeake says sees maintenance CapEx around $2B for 2013

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09:00 EDTCHK
theflyonthewall.com: Chesapeake rises 5.2%

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08:55 EDTCHK
theflyonthewall.com: Chesapeake says "wouldn't be surprised" if Carl Icahn becomes large shareholder

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08:52 EDTCHK
theflyonthewall.com: Chesapeake says still planning to cut debt by 25% by end of 2012

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08:46 EDTCHK
theflyonthewall.com: Chesapeake says doesn't see impact from share volatility on asset sales

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08:45 EDTCHK
theflyonthewall.com: Chesapeake CFO says does not expect to have debt covenant issues this year

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08:43 EDTCHK
theflyonthewall.com: Chesapeake CFO says $3B loan is "bridge" to asset sales

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08:42 EDTCHK
theflyonthewall.com: Chesapeake says to cut lease-acquisition staff up 80%, cut spending on acreage

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08:41 EDTCHK
theflyonthewall.com: Chesapeake says leasehold acquisitions slowing down

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08:41 EDTCHK
theflyonthewall.com: Chesapeake says sees gas price recovery in 2013, beyond

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08:39 EDTCHK
theflyonthewall.com: Chesapeake says intends to be cash-flow positive in 2014
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08:38 EDTCHK
theflyonthewall.com: Chesapeake says Eagle Ford production deal to be delayed or cancelled

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08:36 EDTCHK
theflyonthewall.com: Chesapeake says transactions on track
Says committed to $9.5B-$11B in asset sales scheduled to complete during remainder of 2012. Says also planning to sell sufficient non-core assets in 2013. Comments from Chesapeake's conference call announcing the enhancement of financial flexibility with $3B unsecured loan to be repaid from 2012 asset sales. :theflyonthewall.com
08:05 EDTCHK
theflyonthewall.com: Chesapeake new loan provides more flexibility, says Stifel Nicolaus

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07:25 EDTCHK
theflyonthewall.com: Chesapeake price target lowered to $10 from $15.50 at JPMorgan
JPMorgan lowered its price target for Chesapeake after the company disclosed in a regulatory filing that it has postponed its planned Eagle Ford Shale volumetric production payments. The firm keeps an Underweight rating on the stock. :theflyonthewall.com
06:59 EDTCHK
theflyonthewall.com: Icahn expected to announce major stake in Chesapeake, WSJ reports

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06:52 EDTCHK
theflyonthewall.com: Chesapeake volatility elevated on wide price movement

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06:42 EDTCHK
theflyonthewall.com: Chesapeake option implied volatility elevated

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06:11 EDTCHK
theflyonthewall.com: On the Fly: Periodicals Wrap-Up

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May 13, 2012
17:36 EDTCHK
theflyonthewall.com: Chesapeake to host conference call
Conference call to discuss the company's enhancing their financial flexibility with a $3B unsecured loan which is to be repaid from 2012 asset sales, as well as their quarterly filing on Form 10-Q, is being held on May 14 at 8:30 am. Webcast Link :theflyonthewall.com

May 12, 2012
11:15 EDTCHK
theflyonthewall.com: Chesapeake CEO says loan to allow flexibility in asset sales during 2012

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11:11 EDTCHK
theflyonthewall.com: Chesapeake receiving "strong interest" from buyers in some assets

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11:05 EDTCHK
theflyonthewall.com: Chesapeake: loan to be repaid with 2012 asset sales
During the remainder of the year, Chesapeake plans to complete asset sales totaling $9-$11.5B and intends to use a portion of the proceeds from these asset sales to repay the loan. Chesapeake has received strong interest from prospective buyers of its Permian Basin asset sales process and its Mississippi Lime joint venture process, and the company expects to complete these two transactions in the 2012 third quarter. :theflyonthewall.com
11:03 EDTCHK
theflyonthewall.com: Chesapeake announces $3B loan to aid financial flexibility

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May 11, 2012
16:15 EDTCHK
theflyonthewall.com: On The Fly: Closing Wrap
Stocks on Wall Street were mixed, as the Nasdaq was just barely able to cling to a marginal gain for the session. Stock futures pointed to a sharply lower open following JPMorgan’s (JPM) announcement of a $2B trading loss. The futures moved off their lows prior to the open but the broader market opened in negative territory. The averages found a level where they began to build following the highest consumer confidence reading since January 2008. Each of the major indices made it to positive territory and then went into a slow drift lower, with only the Nasdaq avoiding a return to the red... ECONOMIC EVENTS: Domestically, the producer price index report showed that prices fell 0.2% in April, versus expectations for no change. The core reading, which strips out food and energy, rose 0.2%, which was in line with expectations. The University of Michigan Consumer Confidence reading was 77.8, stronger than the expected 76 reading and its highest level since January 2008. Internationally, data from China and India may signal a further weakening of the global recovery, as China reported its industrial production rose 9.3% from a year ago in April while India's industrial output fell 3.5% in March from the prior year... COMPANY NEWS: The surprising announcement from JPMorgan of a $2B trading loss at one of its divisions triggered calls for tougher bank regulation and a sell off in its shares. CEO Jamie Dimon admitted to “egregious” failures in its risk management and said the losses could deepen this quarter and beyond, sending its stock down more than 9%... MAJOR MOVERS: Among the notable gainers were Arena Pharmaceuticals (ARNA), up $2.70, or 73.77%, to $6.36, after an FDA panel backed the approval of its weight loss drug, lorcaserin, and Monster Worldwide (MWW), up $1.50, or 19.13%, to $9.33, after Reuters said the company has attracted takeover interest from LinkedIn (LNKD) and Silver Lake, but CNNMoney said sources close to LinkedIn denied that report. Noteworthy losers included Alere (ALR), down $3.28, or 14.71%, to $19.02, following its disclosure of a subpoena from the Department of Health and Human Services and the potential of broader recalls of certain products after an FDA inspection, and Chesapeake Energy (CHK), down $2.37, or 13.80%, to $14.81, after the company said it would need to delay its 10-Q filing and then made the filing shortly afterward, in which it said it may have to delay some of its asset sales... INDICES: The Dow lost 34.44, or 0.27%, to 12,820.60; the Nasdaq rose 0.18, or 0.01%, to 2,933.82; and the S&P 500 dropped 4.60, or 0.34%, to 1,353.39. :theflyonthewall.com
16:00 EDTCHK
theflyonthewall.com: Chesapeake says in compliance with all credit facility covenants at March 31

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15:59 EDTCHK
theflyonthewall.com: Options Update; May 11, 2012
CBOE Volatility Index-VIX up 92c to 19.75 Option volume leaders today: CHK BAC JPM AAPL according to Track Data. :theflyonthewall.com
15:53 EDTCHK
theflyonthewall.com: Chesapeake Energy files 10-Q, says it may delay some asset sales

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15:52 EDTCHK
theflyonthewall.com: Chesapeake volatility spikes to 185 from 100 in last half hour
Chesapeake May and June 14 puts are active on total put volume of 163K contracts (128K calls). May put option implied volatility is at 185, June puts at 108, July is at 96; above its 26-week average of 46 according to Track Data, suggesting larger price movement on delay of Form 10-Q. :theflyonthewall.com
15:41 EDTCHK
theflyonthewall.com: Chesapeake spikes down to fresh lows, support is at $14.71

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15:33 EDTCHK
theflyonthewall.com: Chesapeake May 16 straddle priced for 9% share movement
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15:25 EDTCHK
theflyonthewall.com: Chesapeake Energy down 10% to $15.45 after delaying 10-Q filing
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15:24 EDTCHK
theflyonthewall.com: Chesapeake volatility spikes on delay of Form 10-Q

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15:18 EDTCHK
theflyonthewall.com: Chesapeake files to delay Form 10-Q

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12:35 EDTCHK
theflyonthewall.com: Chesapeake discloses CEO McClendon realized $108.6M from well sales
Chesapeake disclosed in a regulatory filing that its CEO Aubrey McClendon advised that he realized approximately $108.6M from sales related to the company's Founder Well Participation Program and he paid approximately $550,000 of deal costs in the time period from January 1, 2011 through April 26, 2012. The company said, "McClendon’s FWPP interests are his personal assets and are separate and distinct from the Company’s interest in its oil and gas properties and other assets. The FWPP does not restrict sales, other dispositions or financing transactions involving FWPP interests acquired from the Company. From time to time, Mr. McClendon has sold FWPP interests separately and concurrently with sales by the Company of its interests in the same properties. In any concurrent sales the proceeds related to the properties have been allocated between Mr. McClendon and the Company based on their respective ownership interests." :theflyonthewall.com
12:27 EDTCHK
theflyonthewall.com: Chesapeake CEO received $108M from sale of well stakes, WSJ reports
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07:22 EDTCHK
theflyonthewall.com: Chesapeake volatility elevated; shares near three-year low
Chesapeake overall option implied volatility of 67 is above its 26-week average of 46 according to Track Data, suggesting larger price movement. :theflyonthewall.com
07:05 EDTCHK
theflyonthewall.com: Chesapeake option implied volatility elevated

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May 10, 2012
15:49 EDTCHK
theflyonthewall.com: Chesapeake VPP deals saddle it with $1.4B in undisclosed liability, WSJ says

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