Chesapeake Soars After Promising to Shed Assets

In this video, analyst Joel South discusses Chesapeake's strong second-quarter results, including its record net income of $929 million. The company gained a much-needed 10% yesterday after the market digested management's comments and analyses. Second-quarter results were strong, but the market strongly reacted to the company's plan of increasing asset sales to $13 billion to $14 billion for 2012. Click on the video below for more information on Chesapeake's plan of offloading $7 billion in assets over the next quarter and what this means for the company going forward.

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The article Chesapeake Soars After Promising to Shed Assets originally appeared on Fool.com.

Joel South owns shares of ExxonMobil. The Motley Fool owns shares of ExxonMobil and has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, long JAN 2013 $25.00 calls on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, and long JAN 2014 $30.00 calls on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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