On Monday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -3.49% to $6.63, as oil prices fall after a drop in Chinese stock markets drove a sell-off in commodities and global equities.
While futures tumbled below $45 a barrel in London for the first time since 2009, Morgan Stanley and Standard Chartered Plc say other measures suggest physical markets for crude have stabilized or even strengthened in recent weeks. China, the world’s second-biggest oil consumer, will keep buying extra barrels to fill its strategic reserve this year, according to Goldman Sachs Group Inc. Bloomberg
“While oil fundamentals aren’t strong, physical markets do not corroborate the substantial weakness in flat price,” New York-based Morgan Stanley analyst Adam Longson said in a report Monday. The “latest oil pricing pressure appears more financial than physical.” Bloomberg
China’s weak economy is creating concerns that oil consumption in the country will fall amid oversupply, Reuters reports.
CHK was a loser in the 5 days activity and slipped about -11.42%. The one month performance of the stock was negative and it plunged more than -20.17%. CHK’s stocks traded with total volume of 25,29M shares, while the average trading volume remained 23.98M shares. The 52 week range of the stock remained $6.07 - $27.24. The market capitalization of the stock remained 4.57 billion.
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 Mylan NV (NASDAQ:MYL), declined -3.28% to $49.81, during its last trading session.
Mylan NV, clarified certain inaccuracies by third parties related to Mylan having lowered the acceptance condition in its offer to acquire Perrigo Company plc (NYSE: PRGO; TASE) from not less than 80% of Perrigo ordinary shares to greater than 50% of Perrigo ordinary shares.
Mylan Executive Chairman Robert J. Coury commented, “As we have stated repeatedly, Mylan remains fully confident that Perrigo’s shareholders will see the value in this compelling combination and that more than 80% of Perrigo ordinary shares will be tendered into Mylan’s offer, once launched following the approval of Mylan shareholders. With that said, Mylan is fully committed and prepared to operate Perrigo as a controlled partner of Mylan in the unlikely event that greater than 50%, but less than 80%, of Perrigo ordinary shares are tendered and we would like to clarify certain implications of such a situation.
“Further, as talk abouted in Mylan’s proxy materials, Mylan continues to believe that the combination can realize annual pre-tax anticipated operational synergies of at least $800 million from the combined operations by the end of year four and that Mylan can successfully manage any additional risks associated with operating Perrigo as a controlled partner, if necessary. Mylan has previous experience operating controlled auxiliaries, specifically when we attained about 71% of Matrix Laboratories Limited in 2007 and operated it as a controlled partner until 2015.
Mylan N.V., through its auxiliaries, develops, licenses, manufactures, markets, and distributes generic, branded generic, and specialty pharmaceuticals worldwide. The company provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, or transdermal patch forms, in addition to active pharmaceutical ingredients (APIs).
Finally, Carter’s, Inc (NYSE:CRI), ended its last trade with -2.12% loss, and closed at $93.38.
The Board of Directors of Carter’s, Inc. (CRI) declared a quarterly dividend of $0.22 per share, payable on September 11, 2015, to shareholders of record at the close of business on September 1, 2015.
Future declarations of quarterly dividends and the establishment of future record and payment dates will be at the discretion of the Board based on a number of factors, counting the Company’s future financial performance and other considerations.
Carter’s, Inc. and its auxiliaries design, source, and market branded childrenswear under the Carter’s, Child of Mine, Just One You, Precious Firsts, OshKosh, and other brands. The company operates through five segments: Carter’s Retail, Carter’s Wholesale, OshKosh Retail, OshKosh Wholesale, and International.
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