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Monday, June 4, 2012

Chesapeake Energy Showing High Volatility (GOOG,CRM,AN,CHK)



Google Inc (NASDAQ:GOOG) shares increased 0.62% to $574.54 in the morning hour after the company said it has filed an antitrust complaint on Thursday with European regulators arguing that rivals Microsoft Corp. and Nokia Corp. are using proxy companies to brandish patents and hurt the prospects of Google's Android mobile phone software and boost Microsoft's technology.

salesforce.com, inc. (NYSE:CRM) stock fell 1.22% to $129.39 in the early hour after the company said it has agreed to acquire Buddy Media, for approximately $689 million payable in cash and salesforce.com equity. The deal is expected to be completed during fiscal third quarter. The company will buy Buddy Media for about $467 million in cash and $184 million in salesforce.com common stock, and $38 million in vested salesforce.com options and restricted stock units.Further, the company expects to provide revenue and EPS guidance for its fiscal third quarter, including the effects of this transaction, when it announces results for its second fiscal quarter, ended July 31, 2012.

AutoNation, Inc. (NYSE:AN) stock gained 0.83% to $35.29 in the morning hour after the company said it will release its financial results for the second quarter ended June 30, 2012 on Thursday, July 19, 2012. Mike Jackson, Chairman and Chief Executive Officer, Mike Maroone, President and Chief Operating Officer, and Mike Short, Executive Vice President and Chief Financial Officer, will discuss these results and other information regarding the Company during a conference call and audio webcast that same day at 11:00 a.m. Eastern Time.

Chesapeake Energy Corporation (NYSE:CHK) shares climbed 1.54% to $15.82 in the early hour after the company announced that following extensive discussions with its two largest shareholders, Southeastern Asset Management and Carl C. Icahn and his affiliated entities, Chesapeake has agreed to a plan to reconstitute its Board of Directors by adding four new independent directors to replace four existing independent directors who will resign from the Board upon the appointment of the new directors.Three of the new independent directors will be proposed by Southeastern and the fourth independent director will be Mr. Icahn or a person designated by Mr. Icahn, with Mr. Icahn making that determination prior to the reconstitution of the Board.



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