Active Stock Alerts Feb. 13th: Chesapeake Energy, Amazon.com, Netflix

Chesapeake Energy Corporation (NYSE:CHK): The company is pursuing joint venture transactions in its Mississippi Lime and Permian Basin plays where it owns 1.8 million and 1.5 million net acres of leasehold, respectively. Chesapeake has also recently received industry inquiries about a complete exit from the Permian Basin and today is announcing that it may consider a 100% sale of its Permian Basin assets if it receives a compelling offer. Chesapeake’s assets in the Permian Basin represent approximately 5% of the company’s total net proved reserves and current production. Chesapeake believes the Mississippi Lime joint venture, a Permian Basin transaction and various other minor asset sales could result in cash proceeds to Chesapeake of approximately $6B-$8B in 2012. Chesapeake anticipates monetization proceeds of approximately $2B during 2012 involving a portion of its midstream assets, service company assets and miscellaneous investments, bringing estimated total monetization cash proceeds in 2012 to $10B-$12B.

Amazon.com (NASDAQ:AMZN): Barnes & Nobles (NYSE:BKS) and Indigo Books & Music, a large Canadian chain, are refusing to sell books from Amazon’s publishing division in their stores, the Financial Times reports. The chains object to Amazon’s push to sign exclusive deals with authors that prevent other retailers from selling digital versions of their books.

Netflix (NASDAQ:NFLX): On February 10, Netflix filed its 2011 Form 10-K, which includes an update to the financial results for the year ended December 31, 2011 reported on the Company’s Form 8-K dated January 25, 2012. This update resulted from a legal settlement agreed to subsequent to reporting the Company’s 2011 results. Subsequent to January 25, 2012, the Company engaged in mediation of a legal claim pending in the Northern District of California made in January 2011 related to our compliance with the Video Privacy Protection Act. This mediation resulted in a settlement of the matter which includes payment of $9M recognized as an expense in the Consolidated Statement of Operations for the year ended December 31, 2011, and which is anticipated to be paid in 2012. The settlement is subject to court approval.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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