Stocks Review: Chesapeake Energy Corporation, Office Depot Inc, Basic Energy Services

Lakeway, TX -- (SBWIRE) -- 02/26/2013 -- vb-news.net, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

Chesapeake Energy Corporation (NYSE:CHK) shares fell 6.78% to $19.11. CHK and Sinopec International Petroleum Exploration and Production Corporation (Sinopec) yesterday announced the execution of an agreement which provides for Sinopec to purchase a 50% undivided interest in 850,000 of Chesapeake’s net oil and natural gas leasehold acres in the Mississippi Lime play in northern Oklahoma (425,000 acres net to Sinopec). The total consideration for the transaction will be $1.02 billion in cash, of which approximately 93% will be received upon closing.

Additionally, the company, last week, reported a fourth quarter profit of $300 million, or 39 cents a share, down from $472 million, or 63 cents a share, a year earlier. Adjusted earnings fell to 26 cents from 58 cents. Revenue climbed 30% to $3.54 billion. Analysts most recently projected earnings of 14 cents a share and revenue of $2.86 billion.

How Should Investors Trade CHK After The Solid Jump? Let’s Find Out Here

Office Depot Inc (NYSE:ODP) shares fell 6.65% and closed at $3.93. The company, on Feb. 20, said it will acquire smaller rival OfficeMax Inc in a $976 million all-stock deal, , confirming an agreement inadvertently announced earlier in the day, before it was completed.

Additionally, the company last week also said that following talks with the largest holder of its common stock, Starboard Value LP, it is extending the deadline for nominating candidates for its board at its annual meeting. The company’s stockholders will now have until the close of business on the tenth day after the company announces the date of its 2013 annual meeting to nominate directors.

Is ODP Ready To Jump Again After The Solid Momentum? Get Free Trend Analysis Here

Basic Energy Services, Inc (NYSE:BAS) shares declined 6.53% to $13.75. The company, on Feb. 19, announced that for the first quarter of 2013, it expects revenues to be 2%-3% sequentially higher mainly due to seasonal factors. The Company reported revenue of $301.65 million in the fourth quarter of 2012. Analysts were expecting the Company to report revenue of $314.71 million for the first quarter of 2013.

Additionally, BAS’s stock had its target price upped by Suntrust Robinson from $19.00 to $20.00 in a report issued on Feb. 15.

Is BAS Buy After The Recent Price Movement? Find Out Here

Prudential Financial Inc(NYSE:PRU) added 1.94% and is trading at $55.77. Prudential Financial, Inc. (Prudential Financial) is a financial services company. Prudential Financial has operations in the United States, Asia, Europe and Latin America. Through its subsidiaries and affiliates, the Company offers an array of financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management.

Is PRU Buy After The Recent Price Movement? Find Out Here

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