What’s Moving These Hot Stocks: Leadership Changes and New Production Ahead
Chesapeake Energy Corporation (NYSE:CHK): According to the Wall Street Journal, Chesapeake Energy expects activist investor Carl Icahn to announce having taken a notable stake in the natural gas company, which has experienced troubled times of late. Chesapeake Energy shares traded up $1.52 (10.26%) at $16.33 recently.
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Ford Motor Co. (NYSE:F): Trailing rivals like GM (NYSE:GM) and Volkswagen, in 2011 Ford could claim only 2.8% of the 18.5M automobile market in China (versus GM’s 14% and VW’s 12%). Ford now plans to be more aggressive, increasing production capacity twofold to 1.2 million vehicles by 2015, Reuters is reporting. This plan includes opening new plants in Chongqing and Hangzhou (adding to two preexisting plants in Chongqing and Nanjing). Recent trading saw Ford shares down 1.32% (or $0.14) at $10.44
Yahoo! Inc. (NASDAQ:YHOO)’s recently resigned CEO Scott Thompson revealed to the company’s board of directors that he is battling thyroid cancer, according to sources at the Wall Street Journal. The company’s shares lately traded at $15.57, up 2.5% ($0.38).
Best Buy (NYSE:BBY) is also experiencing a change at the helm, as founder and Chairman Richard Schulze is departing following failure to disclose allegations against former CEO Brian Dunn to the board’s audit committee. Hatim Tyabji will replace Schulze.
Groupon Inc (NASDAQ:GRPN): The daily e-coupon company will be reporting earnings after the bell. Groupon is facing growing worries about its accrued merchant payables, what is owed to merchants on pre-sold deals. AMPs climbed 23% Q/Q to $572M in Q4, surpassing revenue growth of 14%. But with a short ratio of 5.8, it appears traders are buying back shares ahead of earnings. The company’s shares were trading up recently at $10.99, up $1.09 (11.01%).
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