Updates
May 1, 2012: CHK plummets.
Shares of Chesapeake Energy Corp. are down 12 percent because of disappointing earnings and a new report of potential conflicts of interests involving its CEO.The report does not mention that according to an earlier conference call additional assets would be sold. I don't know if the asset selling is complete.
Reuters says Aubrey McClendon ran a private hedge fund for at least four years that traded in contracts for oil and natural gas — commodities that Chesapeake produces. The report suggests the hedge fund could have influenced McClendon's running of Chesapeake.
Original Post
- earnings: 18 cents vs 29 cents
- revenue: 2.4 vs 2.75 billion
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