NEW YORK, March 18, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Chesapeake Energy Corporation, JPMorgan Chase & Co, Exxon Mobil Corporation.
Chesapeake Energy Corporation(NYSE:CHK - News) will be selling off $2.3 billion in senior notes in its move to pare down its debt load. The oils and gas company has stated on Monday that it will use proceeds from the sale to pay off its current debt.
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The new notes will be issued in three different series, due in 2016, 2021 and 2023.
Chesapeake Energy Corp happens to be the second largest natural gas producer in the US, Exxon Mobile being the first. The company has suffered poor natural gas cists and so it has sold off billion is assets in order to pay its debt that it had accumulated in a rush to acquire land and other properties. It is also becoming more and more dedicated towards more economical gas and oil liquids.
A portion of the proceeds will be used to purchase back some of the 7.625% senior notes due in the year 2013 as well as 6.875% senior notes due in 2018 through tender offers that were also introduced on Monday.
In other news, an analyst of JPMorgan Chase & Co.(NYSE:JPM - News), Chris Horvers has upped his rating on best Buy stock to Overweight on Monday. He said that the effort of the struggling retailer has started paying off.
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Best Buy has been trying hard to improve its profit and sales figures as it feels the heat of competition from other online retailers. The company is headed by Herbert Joly, an expert on turnarounds, he has laid off jobs, poured money on training employees and initiated matching online costs. Financial results are reflecting changes for good.
The company reported that sales in stores that are open for a minimum span of 14 months went up by 0.9% in the fourth quarter. That was the best performance of the company over 11 quarters. This is a crucial measure of the health of a retailer since its does not take into account the stores that have recently closed or opened.
XTO energy, the unit of Exxon Mobil Corporation(NYSE:XOM - News) has made an entry into a purchase deal with BNK Petroleum Inc., an oil and gas producing company that is based in California. The former will be purchasing from the latter, majority of Tishomingo Field assets in Oklahoma and the price will be $147.5 million approximately.
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After the process of purchase is complete, XTO Energy will have all the rights to the Woodford shale formation in southeastern Oklahoma. BNK, on the other hand will use the money to speed up its drilling activities that are taking place in the Caney section. The deal is expected to close in the month of April.
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