Boston, MA, 02/28/2014 -First Solar, Inc. (NASDAQ:FSLR)‘s disappointing fourth quarter results and softer first quarter guidance were just notenough to deter the confidence of its investors as it traded high to more than 8% on the day’s trade. More positive is Baird’s analyst upgradation of the stock to ‘Outperform’. Early this week, First Solar, Inc. (NASDAQ:FSLR) had missed the Q4 EPS and revenue expectations, which came at $0.89 and $768 million respectively.
Even though Cobalt International Energy, Inc. (NYSE:CIE) missed to report the fourth quarter EPS in line with the analyst consesus, which came in at ($0.21), the exploration company was surging on the trading session boosted by the completion of its Angolan well. The company reported that it has recently finished the Angola coast project that will enable the company to hold 400-700 million barrels of crude oil. It added that the Orca No. 1 deepwater pre-salt well analysis confirms the presence of the large light oil reservoir. The Angolan well will be the fifth pre-salt discovery in a row in the Kwanza basin.
According to a Reuters report, Chesapeake Energy Corporation (NYSE:CHK) is facing pressure from the company’s former CEO Aubrey McClendon, who was ousted following a liquidity crisis and governance scandal, to pursue plans which the company does not want to. Even after exiting the management of Chesapeake, McClendon is said to have considerable financial ties with the company, which is being employed to force the company for certain plans. As per Chesapeake Energy Corporation (NYSE:CHK) lawyer, the former CEO is pushing CHK to drill 12 wells, costing multimillions at the Louisiana’s Haynesville Shale amid the company’s efforts to trim down cost and debts, while focussing on other shales. The reason for this pressure is clear if McClendon’s 2.5% personal stake in the company’s each of the well is considered, moreover, his agreement to get a stake in new wells too is largely the reason for his constant persuasion.