Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, June 1, 2012

Article Excerpt

CHESAPEAKE ENERGY CORP., $15.58, symbol CHK on New York, has attracted the interest of activist investor Carl Icahn, who has purchased 7.6% of the natural gas producer. Mr. Icahn now aims to replace four of Chesapeake’s nine directors with his own nominees. The stock is down nearly 50% in the past year. That’s largely because rising production of shale gas and record-warm winter temperatures have increased gas supplies and depressed prices. The stock has also suffered in the past month on allegations that Aubrey K. McClendon, the company’s co-founder, CEO and chairman, took out loans that could put him in a conflict of interest. In response, Chesapeake’s board of directors has removed McClendon from his position and will soon replace him with an independent chairman. Chesapeake is still a hold. Chesapeake Energy was recently covered in the June 2012 issue of Stock Pickers Digest. Click here to access it. Chesapeake Energy was recently covered in the Stock Pickers Digest Hotline for May 4, 2012. Click…