Monday, January 23, 2012

Energy Stocks Get a Jolt — Monday’s IP Market Recap

XCSFDHG46767FHJHJF

tdp2664 InvestorPlace 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 .



No comments:

Post a Comment

LinkWithin

Related Posts Plugin for WordPress, Blogger...