Dow Drops After Weak Jobs Report
"The SEC noted in its request, which was received yesterday, that its inquiry should not be construed as an indication that any violation of the federal securities laws has occurred," Chesapeake Energy said in a statement Thursday. "The company and Mr. McClendon intend to cooperate with the SEC in responding to its inquiry."
Shares rose 1.1%.
Estee Lauder (EL) reported Friday third-quarter earnings of $130.4 million, or 33 cents a share, up from year-earlier earnings of $124.7 million, or 31. Analysts anticipated the company earning 33 cents a share in the period. Shares lost 5.4%.
The company also gave a bullish forecast for the current quarter and said it has agreed to acquire privately held SlideShare, a service that allows professionals to share presentations, for $118.75 million in cash and stock.
American International Group (AIG) reported after-tax operating income of $3.1 billion, or $1.65 a share, as sales of once-toxic subprime assets and a rebound of its property-casualty unit lifted profitability.
Analysts were looking for AIG to earn $1.12 a share compared with $1.30 a share a year earlier. The stock closed down 3.8%.
So far, 81% of S&P 500 companies have reported first-quarter earnings. Of those companies, 67% came in above earnings consensus estimates, 9% matched, and 23% missed Wall Street targets, according to Thomson Reuters.
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-- Written by Andrea Tse in New York.