Rotten Tomato Stocks
No Result
View All Result
  • News
    Kylie Jenner’s Nine-Figure Cosmetics Sell-Off Caused A Stock Crash

    Kylie Jenner’s Nine-Figure Cosmetics Sell-Off Caused A Stock Crash

    Are we about to sleepwalk into another market crash?

    Are we about to sleepwalk into another market crash?

    More Bad News For Oil As The API Reports A Large Crude Build

    More Bad News For Oil As The API Reports A Large Crude Build

    Cannabis Stock Obituaries: Invictus MD ($GENE) On The Brink Of Bankruptcy

    Cannabis Stock Obituaries: Invictus MD ($GENE) On The Brink Of Bankruptcy

  • NYSE
    Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

    Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

    How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

    How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

    Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

    Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

    How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?

    How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?

  • NASDAQ
    Should You Be Concerned With Corning Incorporated’s (NYSE:GLW) -11% Earnings Drop?

    Should You Be Concerned With Corning Incorporated’s (NYSE:GLW) -11% Earnings Drop?

    Why Is Yelp (YELP) Down 35.5% Since Last Earnings Report?

    Why Is Yelp (YELP) Down 35.5% Since Last Earnings Report?

    Imagine Owning United Natural Foods (NYSE:UNFI) And Trying To Stomach The 93% Share Price Drop

    Imagine Owning United Natural Foods (NYSE:UNFI) And Trying To Stomach The 93% Share Price Drop

    Why Plug Power Stock Dropped 10% This Morning

    Why Plug Power Stock Dropped 10% This Morning

  • OTC
    Telenet Group (OTCMKTS:TLGHF) Stock Price Down 16%

    Telenet Group (OTCMKTS:TLGHF) Stock Price Down 16%

    SoftBank-backed Ola seeks financial relief during lockdown

    SoftBank-backed Ola seeks financial relief during lockdown

    Rentokil Initial (OTCMKTS:RTOKY) Downgraded to “Hold” at HSBC

    Rentokil Initial (OTCMKTS:RTOKY) Downgraded to “Hold” at HSBC

    Telkom SA Ltd ADS (OTCMKTS:TLKGY) Downgraded to “Hold” at ValuEngine

    Telkom SA Ltd ADS (OTCMKTS:TLKGY) Downgraded to “Hold” at ValuEngine

  • TSX
    The TSX Stock Market Is Closer to the Bottom Than You Think

    The TSX Stock Market Is Closer to the Bottom Than You Think

    Sims Metal Management (OTCMKTS:SMSMY) Reaches New 1-Year Low at $5.00

    TSX falls 4.6% to 14,270.09

    Laramide Resources (TSE:LAM) Shares Cross Below 200 Day Moving Average of $0.22

    Laramide Resources (TSE:LAM) Shares Cross Below 200 Day Moving Average of $0.22

    CANADA STOCKS – TSX falls 1.34% to 16,553.99

    CANADA STOCKS – TSX falls 1.34% to 16,553.99

  • News
    Kylie Jenner’s Nine-Figure Cosmetics Sell-Off Caused A Stock Crash

    Kylie Jenner’s Nine-Figure Cosmetics Sell-Off Caused A Stock Crash

    Are we about to sleepwalk into another market crash?

    Are we about to sleepwalk into another market crash?

    More Bad News For Oil As The API Reports A Large Crude Build

    More Bad News For Oil As The API Reports A Large Crude Build

    Cannabis Stock Obituaries: Invictus MD ($GENE) On The Brink Of Bankruptcy

    Cannabis Stock Obituaries: Invictus MD ($GENE) On The Brink Of Bankruptcy

  • NYSE
    Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

    Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

    How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

    How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

    Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

    Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

    How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?

    How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?

  • NASDAQ
    Should You Be Concerned With Corning Incorporated’s (NYSE:GLW) -11% Earnings Drop?

    Should You Be Concerned With Corning Incorporated’s (NYSE:GLW) -11% Earnings Drop?

    Why Is Yelp (YELP) Down 35.5% Since Last Earnings Report?

    Why Is Yelp (YELP) Down 35.5% Since Last Earnings Report?

    Imagine Owning United Natural Foods (NYSE:UNFI) And Trying To Stomach The 93% Share Price Drop

    Imagine Owning United Natural Foods (NYSE:UNFI) And Trying To Stomach The 93% Share Price Drop

    Why Plug Power Stock Dropped 10% This Morning

    Why Plug Power Stock Dropped 10% This Morning

  • OTC
    Telenet Group (OTCMKTS:TLGHF) Stock Price Down 16%

    Telenet Group (OTCMKTS:TLGHF) Stock Price Down 16%

    SoftBank-backed Ola seeks financial relief during lockdown

    SoftBank-backed Ola seeks financial relief during lockdown

    Rentokil Initial (OTCMKTS:RTOKY) Downgraded to “Hold” at HSBC

    Rentokil Initial (OTCMKTS:RTOKY) Downgraded to “Hold” at HSBC

    Telkom SA Ltd ADS (OTCMKTS:TLKGY) Downgraded to “Hold” at ValuEngine

    Telkom SA Ltd ADS (OTCMKTS:TLKGY) Downgraded to “Hold” at ValuEngine

  • TSX
    The TSX Stock Market Is Closer to the Bottom Than You Think

    The TSX Stock Market Is Closer to the Bottom Than You Think

    Sims Metal Management (OTCMKTS:SMSMY) Reaches New 1-Year Low at $5.00

    TSX falls 4.6% to 14,270.09

    Laramide Resources (TSE:LAM) Shares Cross Below 200 Day Moving Average of $0.22

    Laramide Resources (TSE:LAM) Shares Cross Below 200 Day Moving Average of $0.22

    CANADA STOCKS – TSX falls 1.34% to 16,553.99

    CANADA STOCKS – TSX falls 1.34% to 16,553.99

No Result
View All Result
Rotten Tomato Stocks
No Result
View All Result

Chesapeake stock falls to lowest price in 25 years as ‘going concern’ warning weighs

Natural-gas producer may be ‘too big to fail,’ according to one analyst

avatar by Editor
November 13, 2019
0
Chesapeake stock falls to lowest price in 25 years as ‘going concern’ warning weighs

Chesapeake Energy Corp. shares took another dive Tuesday, pushing them well below $1 to hit their lowest price in more than 25 years as the natural-gas producer’s going-concern warning continued to reverberate in the equity markets and beyond.

Chesapeake Energy CHK, -17.07% stock lost 17% to end at 67 cents, its lowest close since May 9, 1994. It traded as low as 64 cents, the lowest intraday level since February 1999. The stock has been down for six straight sessions, losing nearly 57% during that period, its worst six-day stretch on record.

The natural-gas producer last week rang the alarm in its quarterly filing with regulators and reported a quarterly loss that was wider than Wall Street expected.

Chesapeake’s most actively-traded bonds by volume on Tuesday fetched an average of 55.29 cents on the dollar, a record low, according to bond pricing and trading platform MarketAxess. Bond prices move in the opposite direction of yields, putting the same Chesapeake 8% coupon bonds due in 2027 at a yield of about 19.55%.

Chesapeake said in a press release late Tuesday that, before the start of the trading session, NGP Energy Capital Management LLC had informed Chesapeake that it was making “an in-kind pro-rata distribution” of its 310.8 million Chesapeake shares to the partners of investment funds that NGP manages.

According to FactSet, the 310.8 million shares is the largest stake held in Chesapeake at 15.9%, though it lists the owner by a slightly different name, Natural Gas Partners LLC.

“Chesapeake continues to strongly believe our current capital and operating program, coupled with the planned 30% reduction in capital expenditures in 2020, will strengthen the financial position of the company for the long term,” Chief Executive Doug Lawler said in the statement. After the announcement, the stock rose 7% in the extended session.

“‘Too big to fail’ remains the prevailing view on Chesapeake,” said Paul Sankey, an analyst with Mizuho.

Shares have traded below $5 for almost four years, but having language around the solvency of the company in writing perhaps “was the flashpoint,” said James Mick, a portfolio manager with Tortoise Advisors.

Chesapeake “has plenty of options at its disposal and a bankruptcy is not imminent in our view,” he said.

Chesapeake has long been regarded as a pioneer in getting hydraulic fracturing, or fracking, into widespread use in the U.S. and other parts of the world.

The technique, which involves using a mix of water, sand, and other additives to coax oil and gas from dense rock formations, has unlocked huge oil and gas deposits previously trapped in shale rock.

The company has been in bad shape before: In 2016, shortly before the death of co-founder and long-time Chief Executive Aubrey McClendon, it had to reassure investors it was not on the brink of bankruptcy.

McClendon died in a fiery car accident a day after being indicted on antitrust charges around allegations he had conspired to keep land-lease rights in Oklahoma low between 2007 and 2012. He had denied the charges and vowed to clear his name.

McClendon co-founded Chesapeake in 1989 and agreed to retire in 2013 after facing intense criticism about Chesapeake’s spending and for allegedly enmeshing company finances with his own borrowings. An internal investigation at the time found no evidence of wrongdoing.

Shares of Chesapeake have lost 68% this year, contrasting with gains around 24% and 19% for the S&P 500 index SPX, +0.16% and the Dow Jones Industrial Average. DJIA, +0.00%

Related Posts

Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year
NYSE

Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

March 26, 2020
How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?
NYSE

How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

March 25, 2020
Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?
NYSE

Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

March 23, 2020
How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?
NYSE

How Does Albemarle’s (NYSE:ALB) P/E Compare To Its Industry, After The Share Price Drop?

March 21, 2020
Load More
Next Post
A Tough Week For Cannabis: MedMen And Hexo See Big Losses

A Tough Week For Cannabis: MedMen And Hexo See Big Losses

POPULAR NEWS

10 Warning Signs That Should Tell You “This Stock is in Trouble”

10 Warning Signs That Should Tell You “This Stock is in Trouble”

November 11, 2019
How Does Spirit Airlines’s (NYSE:SAVE) P/E Compare To Its Industry, After The Share Price Drop?

How Does Spirit Airlines’s (NYSE:SAVE) P/E Compare To Its Industry, After The Share Price Drop?

February 28, 2020
Nektar, worst performing stock in S&P 500, gets booted from the index

Nektar, worst performing stock in S&P 500, gets booted from the index

November 12, 2019
Teradata Stock Is Getting Crushed on Soft Guidance and CEO Exit

Teradata Stock Is Getting Crushed on Soft Guidance and CEO Exit

November 11, 2019
Gap CEO Out As Losses Mount for Iconic Company and Brand

Gap CEO Out As Losses Mount for Iconic Company and Brand

November 11, 2019

EDITOR'S PICK

Does The LXRandCo, Inc. (TSE:LXR) Share Price Fall With The Market?

Does The LXRandCo, Inc. (TSE:LXR) Share Price Fall With The Market?

February 19, 2020
United Technologies (UTX) Dips More Than Broader Markets: What You Should Know

United Technologies (UTX) Dips More Than Broader Markets: What You Should Know

December 24, 2019
Hornbeck Offshore stock delisted by NYSE

Hornbeck Offshore stock delisted by NYSE

December 24, 2019
DIVIDEND ANNOUNCEMENT: Park Lawn Corp (OTCBB:PRRWF) on 12/23/2019 declared a dividend of $0.0380 per share

DIVIDEND ANNOUNCEMENT: Park Lawn Corp (OTCBB:PRRWF) on 12/23/2019 declared a dividend of $0.0380 per share

December 24, 2019

Stay Updated

Get breaking news delivered straight into your inbox

Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Rotten Tomato stocks is a wholly-owned subsidiary of Market IQ Media Group, Inc. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Rotten Tomato Stocks cover the companies and markets that are declining, failing or headed for disaster. We help investors spot the down tends and recognize when something smells rotten.

RECENT POSTS

Telenet Group (OTCMKTS:TLGHF) Stock Price Down 16%

Introducing Avangrid (NYSE:AGR), The Stock That Dropped 17% In The Last Year

SoftBank-backed Ola seeks financial relief during lockdown

POPULAR POSTS

How Does RH’s (NYSE:RH) P/E Compare To Its Industry, After The Share Price Drop?

Rentokil Initial (OTCMKTS:RTOKY) Downgraded to “Hold” at HSBC

Did You Manage To Avoid Two Harbors Investment’s (NYSE:TWO) Devastating 74% Share Price Drop?

© Copyright 2019 RottenTomatoStocks. All Rights Reserved 

Disclaimer | Privacy Policy

No Result
View All Result
  • HOME
  • NEWS
  • NYSE
  • NASDAQ
  • OTC
  • TSX

© 2019 RottenTomatoStocks.com

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.