American Capital Experiences Flash CRASH and 4 Heavily Traded Shares to Watch
Chesapeake Energy Corporation (NYSE:CHK) claims that the U.S. is in the beginning stages of multi-year up cycle. Chesapeake (CHK +9%) sees a boost following its Q2 earnings conference call, as the company increases 2012 and 2013 production guidance, predicts that 2013 capex will fall 45 percent compared to 2012, and sees an additional $4 billion to $5 billion in asset sales during 2013. The U.S. is at the beginning of a multiyear up cycle in gas market fundamentals, CEO McClendon says, with $1.84/MMBtu representing a bottom.
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American Capital Agency Corp. (NASDAQ:AGNC) (AGNC -3.3%) experiences a flash crash, dropping 11 percent during the opening seconds of trade on a volume of 5.7 million shares (it usually trades about 100K in the first 2 minutes). This brings up questions about if any stops got triggered.
Ford Motor Company (NYSE:F) hopes that its “One Ford” manufacturing operating system can increase plant flexibility as it lowers the amount of vehicle platforms and raises its global capacity usage by 27 percent, according to Detroit News. The executive VP of global manufacturing for the company stated that he wants Ford to achieve over 100% capacity across the world within five years.
JPMorgan Chase & Co. (NYSE:JPM) and State Street Corp.(STT) may face collateral damage from their relationship with Standard Chartered Plc(STAN.L), according to a report published Tuesday from Bernstein Research analyst Brad Hintz. Monday, Standard Chartered was accused by New York State’s top banking regulator of scheming with Iran’s government and hiding about 60,000 transactions worth a minimum $250 billion over 10 years. The bank faces the revocation of its license to provide banking services in New York state.
Micron Technology, Inc. (NASDAQ:MU): Global DRAM revenue rose 12 percent sequentially, reaching $7.02 billion during Q2, according to DigiTimes, citing DRAMeXchange. Overall DRAM ASPs decreased at a slower pace during Q2 and revenues were able to see a sequential rise, but the figure does show a 13.8 percent decrease compared to a year ago.
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