The energy sector lit up Monday after an announcement from Chesapeake Energy
(NYSE: CHK ) regarding its natural gas production. Chesapeake, one of the
world's top natural gas producers and responsible for 9% of the nation's
natural gas, said it will cut back its production by 8% and heavily reduce its
drilling expenditures. Natural gas prices spiked by more than 8%, and CHK as
well as other natural gas producers and even coal companies headed higher.
Southwestern Energy (NYSE: SWN ) stock jumped 10.3%, Range Resources (NYSE: CCR
) gained 9.2%, Forest Oil (NYSE: FST ) was up 8.8% and CHK shares finished up
6.4%. Meanwhile, coal producers like Patriot Coal (NYSE: PCX , +7.6%) and Alpha
Natural Resources (NYSE: ANR , +4.3%) also made significant gains. Unable to
find any energy of its own was Research In Motion (NASDAQ: RIMM ), which
finished down 8.5% Monday as co-CEOs Jim Balsillie and Mike Lazaridis stepped
down , with Thorsten Heins taking the reins. Likely fueling the negativity was
Heins' too-optimistic view of the company upon his promotion, among other
things, he said drastic change wasn't needed at RIM . Not what many investors
want to hear following 2011's bloodbath. Three Up Zagg Inc. (NASDAQ: ZAGG ):
Up 5.5% (47 cents) to $9.03. Kinross Gold (NYSE: KGC ): Up 4.5% (46 cents) to
$10.67. Youku.com (NASDAQ: YOKU ): Up 3.8% (79 cents) to $21.76. Three Down Pan
American Silver (NASDAQ: PAAS ): Down 9.8% ($2.43) to $22.29. ( Read more about
PAAS here. ) Netflix (NASDAQ: NFLX ): Down 6.3% ($6.28) to $93.96. Green
Mountain Coffee Roasters (NASDAQ: GMCR ): Down 4.8% ($2.45) to $48.45. Kyle
Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did
not hold a position in any of the aforementioned securities. Check out recaps
from previous trading days here .
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