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News Breaks | | | | October 19, 2012 | | 00:14 EDT |  | SE, TKR, AEP, CHK | Jim Cramer's "Mad Money"
Jim Cramer reminded his "Mad Money" viewers that American manufacturing is alive and well and should be a part of every investor's portfolio. His special show was taped on location at a Timken Steel (TKR) factory in Canton, Ohio. Cramer sat down with James Griffith, president and CEO of Timken Steel. Griffith said he views Timken as a technology company, not a steel company. Its products include bearings in NASA's latest Mars rover to the entire transmission assembly for Apache attack helicopters. Griffith said Timken sees China as an opportunity and has invested in that country, a move that allows it to now export $700M worth of products annually. Then, Cramer went on location with Aubrey McClendon, president and CEO of Chesapeake Energy (CHK), an oil and natural gas producer at the heart of Ohio's Utica Shale revolution. McClendon pointed out that oil imports are already at five years lows, and he expects that trend to continue. McClendon described Chesapeake as now transitioning from the "capture" phase to the "harvest" phase, as it now has all the right assets in the right places and can deliver for shareholders. McClendon said that Chesapeake has spent over $2B to acquire drilling rights on 1.3M acres of Utica and nearly all of that money has gone into land owners' pockets and into the local economies. Finally, when asked about the negative press surrounding hydraulic fracturing, McClendon said Chesapeake has been "fracking" since 1949 and has never had an environmental issue. Cramer also sat down with Greg Ebel, president and CEO of Spectra Energy (SE), a pipeline operator that currently ships 12%-15% of all the natural gas produced in the Utica shale region. Shares of Spectra currently yield 3.7%. Finally, Cramer spoke with Nick Akins, president and CEO of American Electric Power (AEP), the utility that takes natural gas drilled by Chesapeake and shipped via Spectra and converts it into clean electricity for users like Timken, who make all those best-in-class products that get sold all over the world. Akins said industrial power users like Timken are the backbone of AEP's service area. He said that without them, his company's commercial and residential base would also shrink. When asked about the importance of natural gas, Akins noted that 10 years ago this area of Ohio didn't even have natural gas, but now AEP is set to see its gas purchases increase by 150% this year alone. Reference Link | |
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News For TKR;CHK;AEP;SE From The Last 14 Days Check below for free stories on TKR;CHK;AEP;SE the last two weeks. |
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| May 19, 2013 | | 13:00 EDT |  | CHK | Energy Departmant authorizes second proposed facility to export LNG
The Energy Department announced on Friday that it has conditionally authorized Freeport LNG Expansion, and FLNG Liquefaction, Freeport, to export domestically produced liquefied natural gas, LNG, to countries that do not have a Free Trade Agreement, FTA, with the United States from the Freeport LNG Terminal on Quintana Island, Texas. Freeport previously received approval to export LNG from this facility to FTA countries on February 10, 2011. Subject to environmental review and final regulatory approval, the facility is conditionally authorized to export at a rate of up to 1.4 billion cubic feet of natural gas a day, Bcf/d, for a period of 20 years. The Department granted the first authorization to export LNG to non-FTA countries in May 2011 for the Sabine Pass LNG Terminal in Cameron Parish, Louisiana at a rate of up to 2.2 Bcf/d. Reference Link | | | May 16, 2013 | | 12:33 EDT |  | CHK | Chesapeake volatility at 29-month lows
 Subscribe for More Information | | | 12:30 EDT | | AEP | Texas PUC approves ETT application for transmission line
Subscribe for More Information | | | 10:03 EDT |  | CHK | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 06:47 EDT | | CHK | Chesapeake downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Chesapeake citing valuation and a lack of catalysts. | | | May 15, 2013 | | 17:30 EDT | | TKR | Relational Investors gives quarterly update on stakes
Subscribe for More Information | | | May 13, 2013 | | 10:31 EDT | | TKR | Timken acquires Standard Machine
Timken announced the continued expansion of its industrial services capabilities with the acquisition of the Standard Machine business based in Saskatoon, Saskatchewan, Canada. | | | 06:12 EDT |  | CHK | BNY Mellon appeals ruling on Chesapeake’s early $1.3B bond call, Bloomberg says
Bank of New York Mellon (BK) is appealing a ruling allowing Chesapeake Energy (CHK) to proceed today with redeeming $1.3B in bonds six years early at 100 cents on the dollar, reports Bloomberg. A notice of the appeal was filed May 11 in federal court in Manhattan.Reference Link | | | May 8, 2013 | | 16:30 EDT | | CHK | MarkWest Energy acquires granite was assets from Chesapeake for $245M
Subscribe for More Information | | | 14:09 EDT | | CHK | Chesapeake confirms favorable ruling in bond litigation
Chesapeake Energy (CHK) announced that the United States District Court for the Southern District of New York has ruled in Chesapeake’s favor, enabling the company to redeem its $1.3B of 6.775% Senior Notes due 2019 at par pursuant to the Special Early Redemption provision of the Notes. The company initiated its legal action on March 8, against the trustee for the Notes, The Bank of New York Mellon (BK). Chesapeake said will proceed with its Special Early Redemption of the Notes, with payment expected to be made on May 13, adding, “We are pleased that the Court has ruled in Chesapeake’s favor. We expect the refinancing of the Notes to save the Company more than $100M in interest payments.” | | | | 12:48 EDT | | CHK | Chesapeake wins bond suit against BNY Mellon, Reuters reports
Subscribe for More Information | | | May 7, 2013 | | 12:32 EDT | | AEP | High option volume stocks: ALDW BC NMM PFE AEP
| | | 11:37 EDT | | CHK | Gastar gains after plan to raise funds for share buyback, settlement
Subscribe for More Information | | | 10:27 EDT | | TKR | Timken holders re-elect board members, support steel business spin off
The Timken Company announced that at its annual meeting shareholders re-elected all 12 members of the board of directors to new one-year terms. Shareholders also supported the non-binding shareholder proposal to spin off the company's Steel business with approximately 47% of the outstanding shares voted for the proposal and 41% of the outstanding shares voted against the proposal. Of the shares voted, approximately 53% were in favor with 47% against, the company said. | | | 10:00 EDT |  | CHK | On The Fly: Analyst Initiation Summary
Subscribe for More Information | | | 08:06 EDT | | CHK | Chesapeake initiated with a Cautious at ISI Group
Subscribe for More Information | | | May 6, 2013 | | 07:32 EDT |  | SE | Citigroup to host events at AGA Financial Forum
Citigroup Events at the AGA Financial Forum are being held in Naples, Florida on May 5-7. | | | 07:26 EDT | | SE | American Gas Association to host a forum
AGA Financial Forum is being held in Naples, Florida on May 5-7. | | | May 5, 2013 | | 14:48 EDT | | CHK | Chesapeake director Louis Simpson resigns from board
Chesapeake Energy announced on Friday that its board has accepted the resignation of director Louis A. Simpson. Thomas L. Ryan, President and CEO of Service Corporation International has been elected to fill the vacancy and has been appointed to the audit committee. He will stand for election at the 2013 annual meeting of shareholders on June 14. Mr. Ryan replaces R. Brad Martin on the audit committee, with Mr. Martin becoming chair of the nominating, corporate governance and social responsibility committee | |
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