Shares of Chesapeake Energy Corp. (NYSE:CHK) is down 13 percent in trading. The company reported a first-quarter loss of $28 million late Tuesday. Furthermore, Reuters reports that CEO Aubrey McClendon ran a $200 million hedge fund for at least four years. The fund traded the same commodities that Chesapeake produces. Analysts at Ladenburg Thalman & Co. downgraded the natural gas giant to neutral from buy.
A Closer Look: Chesapeake Energy Earnings Cheat Sheet>>
Herbalife Ltd. (NYSE:HLF) shares are down another 4 percent after closing 20 percent lower on Tuesday. On the company’s earnings call, David Einhorn asked questions about Herbalife’s customers, leading some to believe the company may be Einhorn’s next big short.
Despite reporting strong first-quarter earnings, MasterCard Inc. (NYSE:MA) shares are declining 1 percent. Net income for the credit card company increased to $682 million ($5.36 per share), compared to $562 million ($4.29 per share) a year earlier.
Shares of The Clorox Co. (NYSE:CLX) are falling 3.5 percent in trading. The company reported lower-than-expected quarterly profit. Net income came in at $132 million ($1.01 per share) for the fiscal third-quarter, compared to $151 million ($1.09 per share) a year earlier. Sales increased 7.4 percent to $1.40 billion, but rising costs continue to cut into profits.
Time Warner Inc. (NYSE:TWX) shares are declining 1.61 percent early Wednesday. Net income for the first-quarter at the media company fell 10.7 percent to $583 million (59 cents per share), compared to $653 million (59 cents per share) a year earlier. Chairman and Chief Executive Officer Jeff Bewkes said: “We’re off to a great start to the year, and we’re benefiting from strong momentum for our content across our businesses.”
Barrick Gold Corp. (NYSE:ABX) shares are down 2.77 percent in today’s market trading, despite reporting an increase in first-quarter profits. The gold miner earned $1.03 billion ($1.03 per share), compared to $1 billion ($1 per share) a year earlier. The world’s largest gold miner also raised its dividend by 33 percent due to higher gold prices.
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