On Friday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -3.92% to $6.87, as a barrel of U.S. crude oil fell below $40 per barrel for the first time since the end of the global economic crisis, according to AP.
Friday’s fall, to $39.86, was just the latest indicator of a vast shift in the energy landscape over the past year. U.S. Oil bounced back a bit to close down 87 cents at $40.45, the lowest close since March 3, 2009. AP Reports
The price of oil has fallen for eight successive weeks, the longest streak since 1986. Oil is down 34 percent from its high of $61.43 this year, and 62 percent from its high of $107.26 last year. AP added.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States.
Shares of The Blackstone Group L.P. (NYSE:BX), declined -1.62% to $33.95, during its last trading session.
Stearns Holdings, LLC, parent company of Stearns Lending, LLC, a leading national mortgage lender with wholesale, retail, correspondent, and planned alliance business channels, declared recently that funds managed by the private equity group of Blackstone (BX), a leading global asset manager, will acquire a majority stake in the company. This partnership with Blackstone will provide Stearns with the necessary resources to accelerate its growth and fuel its efforts to capture even greater market share. Founder Glenn Stearns will retain a noteworthy ownership stake.
The Blackstone Group L.P. is a publicly owned investment manager. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations.
Finally, Ascena Retail Group Inc. (NASDAQ:ASNA), ended its last trade with -1.84% loss, and closed at $11.22.
Ascena Retail Group declared that it has accomplished its acquisition of ANN INC. for a combination of cash and ascena stock in an accretive transaction.
With the completion of the merger, ANN INC. shares will be delisted from the NYSE and trading will cease at the close of business on Friday, August 21st. ANN INC. will continue to operate as a wholly-owned partner of ascena.
With the addition of the Ann Taylor, LOFT, and Lou & Grey brands, ascena is now one of North America’s largest and most diversified specialty apparel retailers, with $7.4 billion in trailing twelve month sales, a combined fleet of over 4,900 stores, and over 70,000 associates.
Ascena Retail Group, Inc., through its auxiliaries, operates as a specialty retailer of apparel for women, and tween girls and boys. It operates through five segments: Justice, Lane Bryant, maurices, dressbarn, and Catherines segments.
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