On Wednesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -1.97% to $7.46, as crude oil futures fell 4 percent on Wednesday, wiping out gains from the previous days rally, as a strong dollar, tumbling gasoline prices and rising U.S. crude inventories bore down on the market, according to Reuters.
Adding to bearish sentiment was an internal OPEC document published by Reuters that showed weaker demand in the next few years for oil from the producer group, even as Saudi Arabia pumped near record levels to protect its market share.
Brent crude futures settled down $1.96, or 3.9 percent, at $48.58 a barrel. It had risen $1.75 on Tuesday.
U.S. crude closed down $1.58, or 3.3 percent, at $46.32. It gained $1.76 in the previous session. Reuters Reports
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas; the Marcellus Shale in the northern Appalachian Basin of West Virginia and Pennsylvania; and the Barnett Shale in the Fort Worth Basin of north-central Texas.
Shares of Michael Kors Holdings Limited (NYSE:KORS), inclined 8.27% to $42.57, during its last trading session.
Michael Kors Holdings Limited declared its financial results for the fiscal 2016 second quarter ended September 26, 2015.
For the second quarter ended September 26, 2015:
- Total revenue raised 6.9% to $1.13 billion from $1.06 billion in the second quarter of fiscal 2015. On a constant currency basis, total revenue raised 12.3%.
- Retail net sales raised 7.5% to $532.8 million driven by 116 net new store openings since the end of the second quarter of fiscal 2015 and e-commerce sales from the Companys North America digital flagships, partially offset by an 8.5% decrease in comparable store sales. On a constant currency basis, retail net sales grew 14.7%, and comparable store sales reduced 3.4%. Wholesale net sales raised 7.8% to $554.0 million and on a constant currency basis, wholesale net sales grew 11.8%. Licensing revenue reduced 8.1% to $43.2 million.
- Total revenue in the Americas raised 4.5% to $838.2 million on a stated basis and raised 5.6% on a constant currency basis. European revenue grew 2.3% to $243.4 million on a stated basis, and grew 20.6% on a constant currency basis. Revenue in Japan raised 36.1% to $22.4 million on a stated basis, and raised 60.7% on a constant currency basis.
Michael Kors Holdings Limited engages in the design, marketing, distribution, and retailing of branded women’s apparel and accessories, and men’s apparel. The company operates in three segments: Retail, Wholesale, and Licensing. The Retail segment is involved in the sale of women’s apparel; accessories, which comprise handbags and small leather goods, such as wallets; footwear; and licensed products comprising watches, jewelry, fragrances and beauty, and eyewear. As of March 28, 2015, this segment operated 343 North American retail stores, counting concessions and its U.S. e-commerce site; and 183 international retail stores, counting concessions in Europe and Japan.
Finally, Shares of Comcast Corporation (NASDAQ:CMCSA), ended its last trade with -1.76% loss, and closed at $61.46.
Comcast Business declared a substantial network expansion to the Redmond-Woodinville business district in Washington, bringing a full range of Ethernet services to nearly 100 businesses in the 150th – 170th block of Woodinville/Redmond Road.
Comcast Business invested more than $100,000 to bring fiber and coaxial cable to area businesses that range from construction and manufacturing firms to fitness centers and wineries. These businesses will soon have access to high-performance Ethernet service of up to 10 Gigabits-per-second (Gbps), in addition to the Comcast Business services already available there, counting WiFi, TV and advanced voice services.
Comcast representatives noted how dedicated the city officials were to bringing a faster network to the businesses that wanted more performance. “The city of Woodinville assisted us throughout the implementation process. They are dedicated to driving further innovation and fostering business growth in their community,” said Matt Fassnacht, Vice President of Comcast Business in Washington. “We are happy to offer service that will provide these businesses the technology tools that they need to be successful.”
Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, and Theme Parks segments. The Cable Communications segment offers video, high-speed Internet, and voice services to residential and business customers under the XFINITY brand name.
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