New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 6, 2014
07:14 EDTCHKChesapeake announcse 2014 absolute production growth target of 2%-4%
Chesapeake Energy Corporation announced details of its 2014 Outlook and capital program. Chesapeake is budgeting total capital expenditures in the range of $5.2B-$5.6B in 2014, which represents a 20% reduction from the midpoint of Chesapeake’s 2013 capital expenditure Outlook range. After adjusting for 2013 asset sales, the company expects to generate 8 – 10% year-over-year production growth in 2014, consisting of 8 – 12% oil production growth, 44 – 49% natural gas liquids production growth and 4 – 6% natural gas production growth. On an absolute basis, Chesapeake is targeting 2014 production growth of 2 – 4%, which implies an average daily production rate of 680 – 695 thousand barrels of oil equivalent. Chesapeake plans to spud approximately 1,100 gross operated wells in 2014, which is relatively unchanged from 2013 activity levels. The company plans to connect approximately 1,300 gross operated wells to sales in 2014, or approximately 115 fewer wells than in 2013. As a result of ongoing cost control initiatives, Chesapeake anticipates lower per-unit production and general and administrative expenses in 2014. Production expenses are expected to range from $4.25 – $4.75 per barrel of oil equivalent, down approximately 10% year over year from the midpoint of Chesapeake’s 2013 production expense Outlook range. G&A expenses are estimated to be $1.35 – $1.60 per boe, down approximately 25% year over year from the midpoint of Chesapeake’s 2013 G&A expense Outlook range.
News For CHK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 26, 2015
10:00 EDTCHKOn The Fly: Analyst Downgrade SummaryStarz
Subscribe for More Information
09:23 EDTCHKChesapeake downgraded to Hold from Buy at Johnson Rice
Subscribe for More Information
08:26 EDTCHKChesapeake weakness overdone, says Bernstein
Subscribe for More Information
05:45 EDTCHKChesapeake downgraded to Neutral from Buy at UBS
Subscribe for More Information
February 25, 2015
16:38 EDTCHKOn The Fly: Closing Wrap
The Wall Street averages had a relatively quiet open and remained in a tight range for most of the session. The market moved to the high end of its range by mid-afternoon, which pushed the Dow and S&P to new highs and the Nasdaq ever closer to its 5,000 level. There was little momentum behind the move and the averages eventually faded, closing nearly unchanged for the session. ECONOMIC EVENTS: In the U.S., new home sales slipped 0.2% to a 481K annual pace in January, which was better than the expected 2.3% decline to a 471K rate. The DOE petroleum inventory report showed crude stockpiles grew by 8.4M barrels in the week of February 20, versus expectations for a 4M barrel increase. In China, HSBC and Markit's flash purchasing managers' index for February came in at 50.1, which was above the consensus outlook of 49.7 and represented a four month high. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) dropped $3.82, or 9.92%, to $34.67 after the PC, printer and server maker reported lower than expected Q1 revenue and cut its FY15 EPS view and free cash flow outlook, citing separation costs and foreign exchange headwinds. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. Later in the day, Bloomberg reported, citing sources, that HP is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), sending shares of the WiFi equipment maker up $3.86, or 21.0%, to $22.24. Shares of Aruba competitor Ruckus Wireless (RKUS) also gained 66c, or 5.89%, to $11.86 after Bloomberg's report on potential M&A in their space... Chesapeake Energy (CHK) slid $1.90, or 9.56%, to $17.98 after reporting worse than expected earnings amid the recent plunge in energy prices and announcing lower capital spending plans for 2015. MAJOR MOVERS: Among the notable gainers was Benefitfocus (BNFT), which jumped $10.85, or 47.24%, to $33.82 after reporting Q4 earnings and disclosing that Marsh & McLennan (MMC) subsidiary Mercer took a 9.9% stake in the company. Also higher was SFX Entertainment (SFXE), which gained $1.09, or 29.46%, to $4.79 after the company’s Chairman and CEO, Robert Sillerman, offered to acquire all of the outstanding shares of common stock of the company not already owned by him for $4.75 per share in cash. SFX Entertainment confirmed that it received the proposal and established a special committee to review and negotiate the nonbinding offer. Among the noteworthy losers was Lumber Liquidators (LL), which plunged $18.15, or 26.39%, to $50.63 after reporting Q4 earnings per share and revenue that missed consensus expectations, warning on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light, and disclosing in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act. Also lower following their earnings reports were shares of Republic Airways (RJET), which fell $2.17, or 14.49%, to $12.81, and LendingClub (LC), which dropped $3.14, or 13.28%, to $20.51. INDEXES: The Dow added 15.38, or 0.08%, to 18,224.57, the Nasdaq slipped 0.98, or 0.02%, to 4,967.14, and the S&P 500 dropped 1.62, or 0.08%, to 2,113.86.
16:16 EDTCHKChesapeake downgraded to Hold from Buy at Johnson Rice
12:31 EDTCHKOn The Fly: Midday Wrap
Subscribe for More Information
09:08 EDTCHKOn The Fly: Pre-market Movers
Subscribe for More Information
07:05 EDTCHKChesapeake sees 2015 adjusted production growth 3%-5%
Subscribe for More Information
07:03 EDTCHKChesapeake reports Q4 adjusted EPS 11c, consensus 24c
Reports Q4 revenue $5.05B, consensus $4.83B. Chesapeake’s daily production for Q4 averaged approximately 729,000 boe, a year-over-year increase of 12%, adjusted for asset sales. Average daily production in Q4 consisted of approximately 121,200 bbls of oil, 3.1 bcf of natural gas and 97,600 bbls of NGL, which represent year-over-year increases of 7%, 9% and 40% respectively, adjusted for asset sales.
February 24, 2015
15:21 EDTCHKNotable companies reporting before tomorrow's open
Subscribe for More Information
February 20, 2015
06:04 EDTCHKChesapeake March volatility elevated into Q4 and outlook
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use