Chesapeake Energy (CHK) Higher as Icahn to Disclose 'Significant' Stake

May 14, 2012 6:45 AM EDT Send to a Friend
Chesapeake Energy Corp. (NYSE: CHK) shares are indicated for a much higher open Monday morning following reports that activist investor Carl Icahn will disclose a "significant" stake in the energy company, reports the WSJ Monday.

With shares at their lowest point since 2009 -- shares fell 13.8 percent last Friday -- and Icahn being known to make investments in companies he feels are undervalued, the move would make sense.

Representatives for Icahn didn't comment on the chatter. Shares are bid over 9 percent higher ahead of the bell.


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Comments

Ichan
Jeffrey David Marmon on 2012-05-14 09:10:17
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he is a genius at what he does.

Carl
Anne Geraldine Urkowitz on 2012-05-14 09:09:14
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he can turn any company around.


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