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
vb-news.net’s team is engaged in providing stock newsletters on various hot penny stocks on a regular basis. Our instant stock news on Major Gainers, small cap penny stocks and various other stocks, guides investors in making the wise stock market investments decision. In order to get update to the markets, we would advise you sign up to our free newsletters. You can become leader in stock market by keeping track of the daily activity.
The assembled information disseminated by vb-news.net is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. vb-news.net does expect that investors will buy and sell securities based on information assembled and presented in vb-news.net. PLEASE always do your own due diligence, and consult your financial advisor.
Copyright © 2005-2013 - SBWire, The Small Business Newswire - All Rights Reserved - Important Disclaimer
Contact Us: 888-4-SBWIRE (US) - 920-321-1250 (International)