Markets were mixed Thursday as the Dow and S&P finished higher as the won't-they camp within the will-they/won't-they-raise-
While the volatility continued, it was a nice day for oil, as energy stocks rose Thursday in conjunction with prices of the fossil fuel. Benchmark Brent crude prices were up 1.21% to $66.21 per barrel, while West Texas rose 1.54% to $62.63 per barrel.
A popular name in the sector, though one you may not have heard about in a while unless you frequent Oklahoma City Thunder NBA games, was a case in point.
Shares of beleaguered Chesapeake Energy (CHK) roared 25% higher on Thursday after the oil and gas company, whose name dons the arena where the Thunder play, reported adjusted earnings of 30 cents a share, compared with estimates of 24 cents, according to FactSet.
And the company is expecting more production in 2018. Still, will even all that be enough to help Chesapeake make up about 50% in lost value over the last 12 months?
From one of the most-watched stocks to one of the most widely-held and best-known American companies we go, as Procter & Gamble (PG) was again in TheStreet's focus. P&G CEO David Taylor didn't mention activist investor Nelson Peltz once Thursday, though his influence seemed to already be taking effect, says Ron Orol on TheStreet's sister publication The Deal."Taylor's focus on P&G's new product lines, revised pay packages tied to total shareholder returns and an effort to hire from outside the packaged goods company's internal ranks all suggested that he's taking action in anticipation of Peltz's arrival," writes Orol.
Peltz is scheduled to join an expanded 13-person P&G's board after Taylor and the packaged goods giant reluctantly agreed earlier this year to add the dissident investor following what the largest boardroom battle in the history of director skirmishes.
Peltz moved to have the company refocus on innovation and change its strategy around the R&D process. We've yet to see if the company can follow through on those initiatives, or if it will even be successful, but with Peltz's influence already showing through in some ways, it's tough to think substantial changes at P&G aren't ahead.
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Photo of the day: A miracle on ice
The phrase "Do you believe in miracles?" was uttered on this day in 1980 as U.S. Olympic Men's hockey team took their biggest step toward bringing home a gold medal beating the Soviet Union 4-3 in a game that would become known at the "Miracle on Ice." For those looking to bring home gold, ok maybe just some extra cash in this tumultuous market, TheStreet walks you through ways to invest in the various countries competing in the 2018 Winter Olympics in Seoul, Korea. Unfortunately for some, gold medals don't always equate to higher return in your brokerage account. Read more
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