Chesapeake Energy ( CHK ) has come out today, 12/8/08, and slashed their shelf offering to 25 million shares from 50 million shares. The company also said they are exploring the sale of their Fayetteville Shale properties to raise cash.
These activities have caused two firms to upgrade CHK stock and Chesapeake is up 30% in pre market to $14.85 per share.
Chesapeake Energy CHK raised to accumulate from hold by Tudor Pickering
Chesapeake Energy CHK raised to overweight from neutral by JP Morgan
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