Proceeds Will More Than Cover Funding Needs
Chesapeake Energy announced plans to raise $6.9 billion by selling assets to Royal Dutch Shell and Chevron. The cash will more than cover loans coming due later this year, and CHK rose 4 percent before the bell on my tradeMONSTER platform.
Globecomm Plunges On Weak Outlook
Globecomm Systems reported fourth-quarter earnings of $0.13 a share, missing the $0.20 expected by analysts. Revenue beat, but guidance was weak going forward. GCOM craters 20 percent in early trading.
Xyratex Slashes Guidance as Demand Slips
Xyratex lowered its guidance for third-quarter revenue to $271 million to $276 million, compared with a previous range of $313 million to $373 million. Management blamed weak demand from computer makers, and XRTX is lower by 16 percent in the premarket.