Chesapeake Energy Falls Short

Chesapeake Energy Corp. (NYSE: CHK) narrowed first quarter losses to 11 cents per share from 32 cents per share in the year ago period but the results fell short of expectations. Separately, Reuters reported that chief executive Aubrey McClendon formed and lead a private hedge fund that traded commodities produced by Chesapeake. The stock price plunged $2.64 to $16.96.

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