On Thursday, Shares of Chesapeake Energy Corporation (NYSE:CHK), gained 16.50% to $8.19, after the company posted its fiscal 2015 second quarter earnings results that beat analysts’ estimates on the top line.
For the latest quarter, the oil and gas exploration and production company posted a loss of 11 cents per share on revenue of $3.03 billion.
Earnings were in line with estimates, as analysts had predictable the company to report a loss of 11 cents per share on revenue of $2.76 billion.
In the same period the previous year, the company earned 36 cents per share on revenue of $5.15 billion.
While revenue beat estimates for the recent quarter, revenue declined year-over-year as the falling oil prices led the company to take a $4.02 billion write-down on some properties, The Wall Street Journal noted.
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.
Shares of American International Group, Inc. (NYSE:AIG), inclined 0.10% to $63.02, during its last trading session.
American International Group declared that its mortgage insurance business United Guaranty Corporation (UGC) obtained $298.9 million of indemnity reinsurance from Bellemeade Re Ltd., a Bermuda-domiciled special purpose insurer, for a portfolio of mortgage insurance (MI) policies issued from 2009 through the first quarter of 2013.
Bellemeade Re is funding its reinsurance obligations through the issuance to investors of three classes of 10 year notes. This insurance-linked securities (ILS) transaction closed July 29, 2015 and provides UGC with fully collateralized coverage from Bellemeade Re for potential losses on its MI portfolio.
American International Group, Inc. provides insurance products and services for commercial, institutional, and individual customers in the United States, the Asia Pacific, and internationally. The company’s Commercial Insurance segment offers general liability, commercial automobile liability, workers’ compensation, excess casualty, and crisis administration causality insurance products; commercial, industrial, and energy-related property insurance products; aerospace, environmental, political risk, trade credit, surety, and marine insurance products, in addition to various insurance products for small and medium sized enterprises; and professional liability insurance products for a range of businesses and risks.
Finally, IMS Health Holdings, Inc. (NYSE:IMS), ended its last trade with -3.43% loss, and closed at $31.
IMS Health Holdings declared the launch of an underwritten, secondary public offering of 20,000,000 shares of its common stock by certain of its existing shareholders associated with TPG Global, LLC, Canada Pension Plan Investment Board and Leonard Green & Partners, L.P. (the “Selling Shareholders”). IMS Health is not offering any stock in this transaction and will not receive any proceeds from the sale of the shares by the Selling Shareholders.
J.P. Morgan and Morgan Stanley are acting as the joint book-running managers.
IMS Health Holdings, Inc. provides information and technology services to healthcare industry worldwide. Its principal products comprise national information offerings that provide performance metrics related to the sales of pharmaceutical products, prescribing trends, medical treatment, and promotional activity through multiple channels; and sub-national offerings, which offer information related to the measurement of sales at the regional, zip code, and individual prescriber level.
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