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Stockreport

Energy stocks head for worst 2-day performance in 2½ years [CNBC]

CHESAPEAKE ENERGY (CHK)  More Company Research Source: CNBC
Last chesapeake energy earnings: 5/2 07:00 am Check Earnings Report
US:NYSE Investor Relations: chk.com/investors
PDF Energy stocks led a second day of selling on Wall Street on Monday, with the sector heading for its worst two-day performance in 2½ years. The S&P 500 energy sector fell 3.9 percent, led lower by natural gas fracker Chesapeake Energy , American independent driller Hess and oil giants Exxon Mobil and Chevron . Over the two-day stock market sell-off , the sector is down 7.9 percent. That is its worst two-day performance since Aug. 24, 2015, when energy stocks dropped 8.5 percent. They were briefly on pace for their biggest decline in nine years. Crude oil prices also fell as investors dumped risk assets, with international benchmark Brent crude and U.S. West Texas Intermediate crude both losing about $2 a barrel, or roughly 3 percent, since the end of Thursday's session. Chesapeake Energy was the biggest loser of the day, dropping 6.8 percent. It is down about 20 percent over the last week since announcing it would lay off about 13 percent of its [Read more]

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