Author: FX_Trdr

Chesapeake Energy (CHK) announced that it will sell oil and natural-gas assets for $6.9 billion to narrow a cash-flow shortfall which threatens to put a damper on the company’s drilling and production goals. Royal Dutch Shell (RDS.

Europe’s finance ministers and officials met for talks in Cyprus, with Spain’s borrowing costs and Greece topping the agenda. Joanne Nicholson reports.

General Motors is losing its head of operations in China, India, and Southeast Asia next month. Kevin Wale has decided to step down from his position at GM effective October 31st of this year.Unlike so many embattled business leaders who are forced out of their position, Reuters reports GM saw great success under Wale’s leadership, and the China head plans to retire in his native Australia. In the 6 years he held the position, car sales in China grew from 560,000 cars sold annually in 2005 to 2.5 million in 2011. Wale will be replaced by Bob Socia, GM’s head of global purchasing, who has been with the company for over 35 years.

The financially troubled Chesapeake Energy Corp. is selling $6.9 billion worth of assets to help pay its bills. According to Reuters, the energy company is selling gas fields and pipelines in the Permian Basin to both Royal Dutch Shell and Chevron. The deal is an attempt by Chesapeake to cover a $10 billion shortfall in funding, which includes $4 billion of debt. The company has said that it aims to sell between $13 and $14 billion dollars worth of assets this year. The same source writes that this deal is an attempt by the company to move away from natural gas, and more toward crude oil retrieval.

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.

The Daily Ticker’s Aaron Task interviews Bloomberg reporter Jason Kelly

The Daily Ticker’s Aaron Task talks to David Stockman about America’s fiscal crisis.

In trading on Thursday, water utilities shares were relative leaders, up on the day by about 0.8%. Leading the group were shares of Companhia DE Saneamento B Sico D (SBS), up about 3.1% and shares of California Water Service Group (CWT) up about 0.6% on the day.

Pier 1 Imports (PIR) announced that second quarter earnings climbed by 58% due to strong sales growth, as well as a tax benefit. The company reported a profit of $26.2 million, or 24 cents a share, versus $16.6 million, or 14 cents a share, in the same period last year.

JB Hunt (JBHT) was upgraded by Bank of America/Merrill Lynch (BAC) to buy from neutral with a price target of $60, as the recent pullback offers and attractive entry point for investors. Shares are higher by about 1.9 percent.