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Stock Market & Financial Investment News

News Breaks
February 26, 2014
10:38 EDTCHKChesapeake drops after earnings, says doesn't need to sell assets to survive
Shares of natural gas and oil explorer and producer Chesapeake Energy (CHK) are lower this morning after the company reported fourth quarter results that missed expectations. WHAT'S NEW: Chesapeake reported Q4 adjusted earnings per share of 27c and revenue of $4.54B, which fell short of analystsí consensus estimates of 41c and $4.86B, respectively. The company said daily production for the quarter averaged approximately 665,100 barrels of oil equivalent, an increase of 2% from the year-ago quarter and a 15% decrease from the third quarter. The company said the decrease was mainly due to a planned reduction in well connections during Q4, as well as severe weather that impacted production in October and December. WHAT'S NOTABLE: The company said its proved reserves at December 31, 2013 were 2.7 billion barrels of oil equivalent, up 2% from year-end 2012. The company also provided an update on its asset sales, stating that in 2014 it has received $209M of net proceeds from the sale of its common equity ownership interest in Chaparral Energy and believes it will receive proceeds in excess of $150M during 2014 that were held back for title review or other purposes at the time of closing. These items should generate proceeds of about $1B, and Chesapeake sees the sale of these assets having a minimal impact on 2014 operating cash flow guidance. Looking ahead, the company sees 2014 total production up 2%-4% and sees its 2014 daily equivalent rate at 680mboe-695mboe. The company expects to have additional asset dispositions in 2014, potentially including a spin-off of COS to Chesapeake shareholders or an outright sale. On its earnings conference call, the company said it no longer needs to divest assets to survive or fund its drilling capital program. Chesapeake also commented that it has "a lot of noise" on its balance sheet, though major charges and quarterly earnings adjustments are "in the rear-view mirror". The company has no plans to issue new equity, management said. PRICE ACTION: Chesapeake Energy shares are down $1.75, or 6.5%, to $25.19 in mid-morning trading.
News For CHK From The Last 14 Days
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August 5, 2015
07:04 EDTCHKChesapeake maintains FY15 capital guidance of $3.5B-$4B
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07:03 EDTCHKChesapeake reports Q2 adjusted EPS (11c), consensus (11c)
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August 3, 2015
16:00 EDTCHKOptions Update; August 3, 2015
iPath S&P 500 VIX Short-Term Futures down 10c to 15.92 Option volume leaders: AAPL MWE TWTR FB RIG BAC DIS WMB NFLX CHK XOM CCE
10:16 EDTCHKOptions with decreasing implied volatility
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July 31, 2015
10:31 EDTCHKOptions with decreasing implied volatility
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July 30, 2015
16:00 EDTCHKOptions Update; July 30, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 16.05. Option volume leaders: AAPL FB SPLS X TWTR BAC NFLX MU CHK BIDU WFM HPQ LNKD MDLZ XOM
10:09 EDTCHKOptions with decreasing implied volatility
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July 29, 2015
16:00 EDTCHKOptions Update; July 29, 2015
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July 28, 2015
16:00 EDTCHKOptions Update; July 28, 2015
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July 27, 2015
10:00 EDTCHKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
07:31 EDTCHKChesapeake upgraded on potential sale of assets or company at SunTrust
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06:45 EDTCHKChesapeake upgraded to Buy from Neutral at SunTrust
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July 24, 2015
10:37 EDTCHKOptions with increasing implied volatility
Options with increasing implied volatility: LOCK DUST JNUG CHK LINE ABX TCK GDX LNKD FCX
06:09 EDTCHKChesapeake implied volatility of 107 at upper end of index
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July 23, 2015
11:57 EDTCHKOptions with increasing put volume
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10:30 EDTCHKOptions with increasing implied volatility
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July 22, 2015
10:01 EDTCHKOn The Fly: Analyst Downgrade Summary
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07:54 EDTCHKChesapeake downgraded to Neutral at Credit Suisse
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06:25 EDTCHKChesapeake downgraded to Neutral from Outperform at Credit Suisse
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05:24 EDTCHKStocks with implied volatility movement; CHK CRM
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