Chesapeake Energy Rallies, Poised For Second Session Of Strong Gains

By Sue ChangMarketWatch Pulse

Chesapeake Energy Corp. shares climbed Monday, extending gains for a second session, after the the company announced a 15% cut in its workforce last week. The move comes as Chesapeake seeks to reduce expenses on continued weakness in oil and natural-gas prices. Shares of Chesapeake rose 4.4% to $8.24 but the stock is off 58% year to date.

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