On Monday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -6.15% to $4.27, as oil prices slumped by 5% on Monday after the latest attempt by Saudi Arabia to kill off the threat from the US shale industry sent crude to its lowest level since the depths of the global recession almost seven years ago, according to The Guardian.
Signs of disarray in the Opec oil cartel prompted fears of a global glut of oil, wiping $2 off the price of a barrel of crude and leading to speculation that energy costs could continue tumbling over the coming weeks.
Shares in energy companies lost ground as the impact of the drop in oil prices rippled through stock markets. Prices of other commodities also weakened following disappointment among traders that Opec had decided late last week to keep flooding the global market with cheap oil. The Guardian Reports
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas. The company also holds interests in liquids-rich resource plays, such as the Eagle Ford Shale in South Texas; the Utica Shale in Ohio and Pennsylvania; the Granite Wash/Hogshooter, Cleveland, Tonkawa, and Mississippi Lime plays in the Anadarko Basin in northwestern Oklahoma and the Texas Panhandle; and the Niobrara Shale and Upper Cretaceous sands in the Powder River Basin in Wyoming.
On other hand, Shares of Microsoft Corporation (NASDAQ:MSFT), declined -0.18% to $55.81, during its current trading session. Microsoft Corporation, on Friday told shareholders that it has settled a lawsuit brought last year against former CEOs Steve Ballmer and Bill Gates, the company’s board of directors and other top executives over a $732 million fine that European Union antitrust regulators slapped on the firm in 2013.
As part of the settlement, Microsoft will set aside $42.5 million to fund an antitrust compliance office for the next five years, and pay the plaintiffs’ lawyers at least $7.3 million, according to court documents and a Friday filing with the U.S. Securities and Exchange Commission (SEC).
The case, which has been working its way through a Seattle, Wash. federal court since April 2014, stemmed from a multi-million-dollar blunder in 2012 when Microsoft was caught not displaying a browser ballot screen to users of Windows 7 Service Pack 1 (SP1) in the European Union.
Microsoft Corporation, a technology company, develops, licenses, and supports software products, services, and devices worldwide. The companys Devices and Consumer (D&C) Licensing segment licenses Windows operating system and related software; Microsoft Office for consumers; and Windows Phone operating system. Its Computing and Gaming Hardware segment provides Xbox gaming and entertainment consoles and accessories, second-party and third-party video games, and Xbox Live subscriptions; surface devices and accessories; and Microsoft PC accessories. The company’s Phone Hardware segment offers Lumia phones and other non-Lumia phones. Its D&C Other segment provides Windows Store and Xbox marketplace; search advertising; display advertising; Office 365 Home and Office 365 Personal; first-party video games; and other consumer products and services, in addition to operates retail stores.