Diamonds and Dogs
Chapter 11 on the way for a number of oil companies? You expect some small no name oil companies to go under, but today Chesapeake Energy (CHK) was halted twice falling as much as 50% before the company made a statement saying they have no plans to file for bankruptcy protection. The rumors started circulating this morning after a report indicated the company hired a law firm to help restructure their debt. This is starting to feel a lot like the financial crisis once again. Unfortunately the next several months may be a little tricky for destressed oil companies.
Get an online education and make money on their publicly traded stock. Apollo Education Group (APOL) is one of the few diamonds up 22% after the company agreed to go private for $1.1 billion. Even with today's rebound, the stock is still down 68% in the last year. Apollo Education has struggled for a while with several lackluster quarters as enrollments at for-profit schools fell amid increased government scrutiny of the industry. Now the strutiny and debate will be a little more private.