Short interest for Chesapeake Energy gives investors a sense of the degree to which investors are betting on the decline of Chesapeake Energy's stock. Short interest data is updated every two weeks.

Chesapeake Energy Stock (NASDAQ:CHK), Short Interest Report

Chesapeake Energy

Chesapeake Energy Corp is a us-based exploration and production company. It is engaged in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs. Geographically, the company focuses on areas of Marcellus, Northern Appalachian Basin in Pennsylvania; Haynesville, Northwestern Louisiana (Gulf Coast); and Eagle Ford, South Texas.

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Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve’s potentially hawkish pivot in Wednesday’s meeting. 

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Chesapeake Energy Corporation - Common Stock

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Benchmark analyst Subash Chandra maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Buy and lowers the price target from $107 to $93.

Price Target

Analyst Ratings

Benchmark Maintains Buy on Chesapeake Energy, Lowers Price Target to $93

WIIM

Chesapeake Energy shares are trading lower after the company reported worse-than-expected Q1 adjusted EPS results.

In the preceding three months, 10 analysts have released ratings for Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>), presenting a wide array of perspectives from bullish to bearish.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Chesapeake Energy and provided 12-month price targets. The average target is $104.4, accompanied by a high estimate of $117.00 and a low estimate of $93.00. This current average represents a 0.88% decrease from the previous average price target of $105.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1714579260_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Chesapeake Energy. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mike Scialla</td>
<td>Stephens &amp; Co.</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$117.00</td>
<td>$116.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Raises</td>
<td>Buy</td>
<td>$101.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Cameron Bean</td>
<td>Scotiabank</td>
<td>Raises</td>
<td>Sector Perform</td>
<td>$110.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Maintains</td>
<td>Buy</td>
<td>$100.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Josh Silverstein</td>
<td>UBS</td>
<td>Raises</td>
<td>Neutral</td>
<td>$94.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Betty Jiang</td>
<td>Barclays</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$102.00</td>
<td>-</td>
</tr>
<tr>
<td>Lloyd Byrne</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Buy</td>
<td>$115.00</td>
<td>$118.00</td>
</tr>
<tr>
<td>Subash Chandra</td>
<td>Benchmark</td>
<td>Lowers</td>
<td>Buy</td>
<td>$93.00</td>
<td>$107.00</td>
</tr>
<tr>
<td>Neal Dingmann</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$112.00</td>
<td>$119.00</td>
</tr>
<tr>
<td>Nitin Kumar</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Buy</td>
<td>$100.00</td>
<td>$104.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Chesapeake Energy. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Chesapeake Energy compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Chesapeake Energy's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Chesapeake Energy's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/CHK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Chesapeake Energy analyst ratings.</a>
<h2>Discovering Chesapeake Energy: A Closer Look</h2>
Chesapeake Energy Corp is a us-based exploration and production company. It is engaged in the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs. Geographically, the company focuses on areas of Marcellus, Northern Appalachian Basin in Pennsylvania; Haynesville, Northwestern Louisiana (Gulf Coast); and Eagle Ford, South Texas.
<h3>A Deep Dive into Chesapeake Energy's Financials</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Negative Revenue Trend: Examining Chesapeake Energy's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -56.13% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Energy sector.
Net Margin: Chesapeake Energy's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 31.45%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 5.42%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Chesapeake Energy's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 3.98%, the company showcases efficient use of assets and strong financial health.
Debt Management: Chesapeake Energy's debt-to-equity ratio is below the industry average at 0.2, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Expectations For Chesapeake Energy's Future

Mizuho analyst Nitin Kumar maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Buy and raises the price target from $100 to $101.

Mizuho Maintains Buy on Chesapeake Energy, Raises Price Target to $101

Stephens &amp; Co. analyst Mike Scialla maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Equal-Weight and raises the price target from $116 to $117.

Stephens & Co. Maintains Equal-Weight on Chesapeake Energy, Raises Price Target to $117

Earnings Misses

Chesapeake Energy Q1 2024 Adj EPS $0.56 Misses $0.60 Estimate

Investor apprehension grips Wall Street with major indices showing midday losses on Tuesday in New York trading, ahead of the Federal Reserve&#8217;s potentially hawkish <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">pivot in Wednesday&#8217;s meeting. </a>
The S&amp;P 500 retraced 0.9% after a 2-day positive streak, with the tech-heavy Nasdaq 100 slightly underperforming, down 1.1%. Small caps suffered larger losses, with the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) down 1.5%. 
The stock market faced renewed pressure as economic data revealed a decline in consumer confidence and persistent wage pressures, putting further pressures on the Federal Reserve. 
The Bureau of Labor Statistics reported a 1.2% increase in the employment cost index for the first quarter of 2024, surpassing market expectations of 1% growth and accelerating from the previous three-month period&#8217;s 0.9% rise. In April, the Conference Board consumer confidence index dropped from 103.1 to 97 points, falling short of forecasts for a rise to 104.
Bonds provided little refuge to investors as yields surged in response to comments from U.S. Treasury Secretary Janet Yellen, who voiced concerns about the deficit trajectory and proposed substantial measures to address budgetary gaps.
Yields on the 2-year Treasury note breached the psychological 5% threshold, aiming for the highest close since mid-November 2023. The U.S. dollar index (DXY), as tracked Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.6%. 
Gold tumbled 1.7%, pressured by higher yields and stronger greenback. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) plummeted over 5%, on track for its worst daily performance in four weeks amid weak sentiment on cryptocurrencies. 
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,070.03</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,992.61</td>
<td>-1.0%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,588.95</td>
<td>-1.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,982.84</td>
<td>-1.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:39 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.9% to $505.30, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.1% to $379.75 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $428.01, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.1%, marking the sole positive performance among the eleven S&amp;P 500 sectors. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 2.1%.
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 5%, following a 15% surge Monday on the heels of news potentially clearing the full self-driving service in China. Goldman Sachs tempered some of the excitement in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off">a note on Tuesday. </a></li>
<li>Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose 4.6%, its strongest one-day gain since early February, as the pharmaceutical giant hiked 2024 revenue forecast. </li>
<li>Other stocks reacting to earnings were Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 0.5%; McDonald&#8217;s Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), down 0.2%; Eaton Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>), down 3%; Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>), down 7.5%; Trane Technologies plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TT#NYSE">TT</a>), up 5.7%; PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), up 1.2%; 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), up 3.2%; Arch Capital Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACGL#NASDAQ">ACGL</a>), up 2.8% and GE Healthcare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), down 13.4%. </li>
<li>Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell 4.2% on news that the company will delist from European exchanges. </li>
<li>Warner Bros. Discovery Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) fell 9.3%, hitting the lowest level since February 2009, after reports that the company could lose NBA TV rights to rival Comcast Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) NBCUniversal and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc., ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), Renaissancere Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), LPL Financial Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), Clorox Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38526697/paramount-could-be-worth-4-or-14-per-share-in-deal-analyst-says-we-prefer-to-sit-th">Paramount Could Be Worth $4 Or $14 Per Share In Deal, Analyst Says: &#8216;We Prefer To Sit This One Out&#8217;</a>
Photo: Shutterstock

Stocks Dive On Fears Of Hawkish Fed; Treasury Yields Rise, Bitcoin Tumbles To $60,000: What's Driving Markets Tuesday?

U.S. stocks appear&nbsp;to be&nbsp;on the back foot early on Tuesday, with index futures trading modestly lower in early pre-market activity. Caution&nbsp;reigns supreme as traders anxiously await the Federal Reserve&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38508875/another-rate-hike-coming-in-2024-macquarie-economists-reverse-forecast-warn-of-incr" rel="noreferrer noopener">interest rate decision</a>&nbsp;on Wednesday.&nbsp;A&nbsp;hawkish stance, either&nbsp;in the post-meeting policy statement or Fed Chair Jerome Powell&#8217;s remarks,&nbsp;could trigger a market pullback.&nbsp;&nbsp;However, recent scorching inflation data has already tempered market expectations for rate cuts.
Adding to the market&#8217;s volatility, the busy earnings season commences this week. Company&nbsp;results and their outlooks for the future could significantly impact stock prices.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.16%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.08%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.51%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.20% to $509.27,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.29% to $432.27, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From The Last Session:
Stocks closed Monday&#8217;s session on a positive note, although trading was marked by some degree of volatility. The major indices opened the session higher, as the positive momentum from Friday carried over into the new week, with Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading from the front. They stayed above the unchanged line for the better part of the morning before reversing course in late afternoon trading.
While apprehension ahead of the week&#8217;s key earnings and data was attributed to the weakness, the stock recovered thereafter to close higher for a second straight session. Market participants also blamed the intraday slide on an increase in the U.S. Treasury&#8217;s June quarter borrowing estimates.
The gains were led by consumer discretionary stocks, while communication services stocks dragged.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.35%</td>
<td>15,983.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.32%</td>
<td>5,116.17</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.38%</td>
<td>38,386.09</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.70%</td>
<td>2,016.03</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Ahead of the Fed meeting, Wharton Professor Jeremy Siegel, Senior Economist to&nbsp;WisdomTree, said in his weekly commentary, that the market is currently pricing in only slim chances of rate cuts this year. On Wednesday, the economist expects Powell to repeat the rhetoric that the central bank doesn&#8217;t have enough confidence to lower rates.
Siegel expects the press to probe as to whether the Fed was contemplating rate hikes. &#8220;Powell's answer to that may be illuminating,&#8221; he said. &#8220;It is quite possible with two more inflation prints before the June meeting, that the Fed can get enough information to signal imminent cuts. I'm not ruling out a rate cut at the June meeting.&#8221;
Fundstrat expressed confidence in the market recovery taking root. &#8220;Stocks survive &#8216;fragility test&#8217; of April. Roadmap for May more constructive = recovery towards S&amp;P 5,200,&#8221; said the firm in a post on X.
Upcoming Economic Data:
<ul>
<li>A two-day Federal Open Market Committee meeting gets underway on Tuesday, with the decision due only on Wednesday.</li>
<li>The Labor Department is scheduled to release its employment cost index for the first quarter at 8:30 a.m. EDT. Economists, on average, expect the index to climb 1% quarter-over-quarter, faster than the 0.9% increase in the fourth quarter.</li>
<li>The S&amp;P Case-Shiller and Federal House Finance Agency are due to release the results of their respective house price surveys at 9 a.m. EDT.</li>
<li>ISM-Chicago will release the results of its regional manufacturing survey at 9:45 a.m. EDT. The Chicago business barometer index is expected to rise from 41.4 in March to 45 in April. A reading below 50 shows contraction. </li>
<li>The Conference Board&#8217;s consumer confidence index, due at 10 a.m. EDT, may have eased slightly from 104.7 in March to 103.5 in April.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus: 
<ul>
<li>F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>) fell over 9.5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its earnings announcement.</li>
<li>Other stocks moving on earnings are Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) (down about 4%), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) (down about 5.4%), Sensata Technologies Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) (up about 16%), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>) (down over 4%) and Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>) (down over 5%).</li>
<li>Tesla slipped over 1% following its 15%+ jump on Monday.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) and Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market open.</a></li>
<li>Notable names reporting after the close are Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>) and Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures rose modestly on Tuesday and yet traded at the sub-$83-a-barrel mark and gold futures moved sideways around the $2,300 level.
The 10-year note yield held around the 4.628% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has pulled back over the past 24 hours and traded under $62,000.
Asian stocks moved about in a lackluster manner before closing on a mixed note. While the Japanese market, which reopened after a public holiday, rallied strongly, Chinese equities pulled back as investors weighed in the private-sector activity data.
The Japanese yen weakened after Monday&#8217;s surge achieved on the back of government intervention to prop up the currency. 
European markets were lower in early trading as investors digested a slew of domestic economic data. The euro area expanded more than expected in the first quarter, as the economy emerged out of a recession, and the March inflation came in line with forecasts. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
illustration created using artificial intelligence via MidJourney.

Wall Street On Edge Ahead Of Fed Decision, Spotlight Falls On Amazon And AMD Earnings: Analyst Says Stocks Survive 'Fragility Test' As April Ends

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

Scotiabank analyst Cameron Bean maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Sector Perform and raises the price target from $92 to $110.

Scotiabank Maintains Sector Perform on Chesapeake Energy, Raises Price Target to $110

Scotiabank&nbsp;analyst Cameron Bean changed the rating for a few North American Natural Gas companies following their revised forecasts about commodity price deck and industry outlook.
The analyst continues to expect congestion and low prices to prevail into the summer but sees green shoots on the horizon, with weaker U.S. production volumes in H2 FY24 and the commissioning of new North American LNG export facilities in late 2024 and 2025.
Bean continues to project a price of $4.00/mmBtu but expects significant price volatility as North America adds considerable new LNG export capacity over the next three to five years.&nbsp;
Also, the analyst expects a rougher ride for AECO prices, with potential carnage during the summer, but anticipates the startup of LNG Canada, creating significant slack in the system in 2025 and 2026.&nbsp;
Consequently, the analyst upgraded&nbsp;EQT Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) to&nbsp;Sector Outperform (from Sector Perform) and raised the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/EQT/analyst-ratings" rel="noreferrer noopener">price target to $52 (from $40)</a>.
The analyst assumes EQT's acquisition of&nbsp;Equitrans Midstream Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETRN#NYSE">ETRN</a>)&nbsp;will close in mid-Q4/24 and expects it to be a&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37583705/why-eqt-equitrans-midstream-shares-are-moving-premarket-monday" rel="noreferrer noopener">game changer for the company</a>.
Bean projects expected material cost structure improvements and enhanced operational control and flexibility as key wins for EQT.
On the other hand, Bean downgraded&nbsp;Range Resources Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) and&nbsp;Southwestern Energy Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWN#NYSE">SWN</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/RRC/analyst-ratings" rel="noreferrer noopener">to&nbsp;Sector Perform (from Sector Outperform)</a>&nbsp;and raised the price target to $45 (from $40) and $9.5 (from $9), respectively.
<a target="_blank" href="https://www.benzinga.com/quote/SWN/analyst-ratings" rel="noreferrer noopener">For SWN</a>, the analyst sees a relatively flat or sustaining production profile in 2024 and expects a mid-Q4/24 closing date for the&nbsp;Chesapeake Energy Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36591781/why-southwestern-energy-shares-are-down-today" rel="noreferrer noopener">and Southwestern&nbsp;merger</a>.
The analysts project the combined company to offer dominant exposure to Haynesville, potentially adding material international natural gas price exposure to its portfolio over the next several years.
Price Action: EQT shares are down 1.5% at $37.15, RRC shares by 1.54% at $35.77 and SWN by 2.06% at $7.36 on the last check Thursday.
Photo via Shutterstock

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Downgrades

ETRN

Analyst Sees Volatile Future for North American Gas Prices, Upgrades Most Impacted Stock

Mizuho analyst Nitin Kumar maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Buy and maintains $100 price target.

Mizuho Maintains Buy on Chesapeake Energy, Maintains $100 Price Target

UBS analyst Josh Silverstein maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Neutral and raises the price target from $92 to $94.

UBS Maintains Neutral on Chesapeake Energy, Raises Price Target to $94

Barclays analyst Betty Jiang initiates coverage on Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Equal-Weight rating and announces Price Target of $102.

Initiation

Barclays Initiates Coverage On Chesapeake Energy with Equal-Weight Rating, Announces Price Target of $102

Jefferies analyst Lloyd Byrne maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Buy and lowers the price target from $118 to $115.

Jefferies Maintains Buy on Chesapeake Energy, Lowers Price Target to $115

The U.S. Energy Department&#39;s weekly inventory release showed that natural gas supplies decreased less than expected. The bearish inventory numbers notwithstanding, futures settled with a slight gain week over week on signs of production pullback. 
Despite this spike, the market hasn&#39;t been kind to natural gas, with the commodity recently hitting nearly four-year lows due to worries about record output and concerns about a growing glut. At this time, we advise investors to focus on stocks like Coterra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ctra#NYSE">CTRA</a>) and Cheniere Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lng#NYSE">LNG</a>).
<h3>EIA Reports a Withdrawal Smaller Than Market Expectations</h3>
Stockpiles held in underground storage in the lower 48 states fell 37 billion cubic feet (Bcf) for the week ended Mar 29, below the guidance of a 39 Bcf withdrawal, per a survey conducted by S&amp;P Global Commodity Insights. The decrease compared with the five-year (2019-2023) average net shrinkage of 1 Bcf and last year&#39;s decline of 29 Bcf for the reported week. 
The latest draw puts total natural gas stocks at 2,259 Bcf, which is 422 Bcf (23%) above the 2023 level and 633 Bcf (38.9%) higher than the five-year average. 
The total supply of natural gas averaged 105.6 Bcf per day, down 0.2 Bcf per day on a weekly basis due to a slump in dry production, partly offset by higher shipments from Canada. 
Meanwhile, daily consumption fell to 105.2 Bcf from 114 Bcf in the previous week, mainly reflecting a sizeable drop in residential/commercial usage triggered by reduced space-heating demand in warmer weather.
<h3>Natural Gas Prices Still Finish Higher</h3>
Natural gas prices trended northward last week despite the lower-than-expected inventory decrease. Futures for May delivery ended Friday at $1.785 on the New York Mercantile Exchange, up some 1.3% from the previous week&#39;s closing. The increase in natural gas realization is the result of a pullback in supply. Nevertheless, the fuel has declined almost 30% this year after tumbling 44% in 2023. 
Investors should know that natural gas realization has been under pressure from strong production, elevated stockpiles and tepid weather-related demand. It&#39;s worth mentioning that the current inventory levels are well above the year-ago figure and the five-year average. The bearish sentiment surrounding the commodity even prompted shale producers Chesapeake Energy (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chk#NASDAQ">CHK</a>) and EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) to hit the brakes on new drilling. 
Chesapeake announced a reduction in its drilling rigs so as to lower volume. The company has decided to cut this year&#39;s gas production expectations by around 20%. Chesapeake&#39;s plans rippled through the market, with Appalachian Basin-focused EQT following on. The explorer and producer of natural gas said that it will lower its daily output by 1 Bcf to combat the supply glut in the U.S. market. According to EQT, the revised plan will likely reduce net production by 30-40 Bcf. While these production cut announcements temporarily sent natural gas prices higher, they have failed to galvanize the market. 
As is the norm with natural gas, changes in temperature and weather can lead to price swings. With low heating demand this winter and forecasts turning milder, usage of the commodity to generate electricity has taken a hit. 
Having said that, there are signs of curtailment in U.S. production. According to energy services provider Baker Hughes, the U.S. natural gas rig count &mdash; a pointer to where production is headed &mdash; is down around 30% from last year to its lowest since January 2022. Industry observers believe this could set the stage for a pullback in near-term drilling and supplies. 
Meanwhile, a stable demand catalyst in the form of continued strong LNG feedgas deliveries is supporting natural gas. As a matter of fact, LNG shipments for export from the United States have been elevated for months, reaching record levels due to environmental reasons and Europe&#39;s endeavor to move away from its dependence on Russian natural gas supplies due to the war in Ukraine. 
At the same time, the protracted downtime associated with the testing and repairs at the Freeport LNG export plant in Texas has drowned out some of the positives as of now. The Quintana, TX facility &mdash; responsible for around 15% of U.S. liquefaction capacity &mdash; is facing outages at two of its three liquefaction trains until May. Consequently, some of the LNG cargoes due for export are likely to have been diverted to the domestic market despite huge demand abroad.
<h3>Final Thoughts</h3>
The upshot of all these factors &mdash; the natural gas market &mdash; remains an oversupplied one. As mentioned above, it endured a torrid year in 2023, briefly breaking below the $2 threshold for the first time since 2020. The situation is not much different in 2024, with the fuel reaching a multi-year low near $1.48 in late March and struggling to cross the psychological mark of $2. 
Based on several factors, the space is currently quite unpredictable and spooked by sudden changes in weather and production patterns. As such, investors are clueless about what to do. As of now, the lingering uncertainty over the fuel means that they should preferably hold on to fundamentally strong stocks like Coterra Energy and Cheniere Energy. 
Coterra Energy: It is an independent upstream operator primarily engaged in the exploration, development and production of natural gas. Headquartered in Houston, TX, the firm owns some 183,000 net acres in the gas-producing Marcellus Shale of the Appalachian Basin. This Zacks Rank #3 (Hold) company churned out an average of 2,262.7 million cubic feet on a daily basis from these assets in 2023. 
Coterra beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters and missed in the other, the average being 9.3%. Valued at around $21.3 billion, CTRA has risen 10.4% in a year. 
Cheniere Energy: Being the first company to receive regulatory approval to export LNG from its 2.6 billion cubic feet per day Sabine Pass terminal, Cheniere Energy enjoys a distinct competitive advantage. 
Cheniere Energy beat the Zacks Consensus Estimate for earnings in three of the last four quarters and missed in the other. This #3 Ranked natural gas exporter has a trailing four-quarter earnings surprise of roughly 64.7%, on average. LNG shares have moved up 2.1% in a year.
<a href="https://www.zacks.com/stock/news/2251801/what-did-the-latest-inventory-data-do-to-natural-gas-prices?cid=CS-BENZ-FT-analyst_blog|industry_focus-2251801">To read this article on Zacks.com click here.</a>

CTRA

What Did the Latest Inventory Data Do to Natural Gas Prices?

Truist Securities analyst Neal Dingmann maintains Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) with a Buy and lowers the price target from $119 to $112.

Truist Securities Maintains Buy on Chesapeake Energy, Lowers Price Target to $112

Chesapeake Energy Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) disclosed that its merger with&nbsp;Southwestern Energy Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWN#NYSE">SWN</a>) is expected be delayed as the FTC requested additional information and documentary materials from both&nbsp;<a target="_blank" href="https://app.quotemedia.com/data/downloadFiling?webmasterId=101533&amp;ref=318219359&amp;type=PDF&amp;symbol=CHK&amp;cdn=7522e3bd074a83a74031b4ac5e509362&amp;companyName=Chesapeake+Energy+Corporation&amp;formType=8-K&amp;dateFiled=2024-04-05" rel="noreferrer noopener">companies</a>.
Consequently, Chesapeake and Southwestern now expects the merger to be completed in the second half of 2024. Earlier, the companies expected the deal to close in the second quarter of 2024.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/24/04/38097984/drilling-deep-analyst-outlines-chesapeake-merger-synergies-delays-due-to-regulatory-risks" rel="noreferrer noopener">Drilling Deep: Analyst Outlines Chesapeake Merger Synergies, Delays Due To Regulatory Risks</a>
The issuance of the second request extends the waiting period imposed by the HSR Act until 30 days after the companies have substantially complied with the Second Request, unless that period is extended voluntarily by the parties or terminated sooner by the FTC.&nbsp;
In January 2024, both companies inked a merger deal through an all-stock transaction valued at $7.4 billion, or $6.69 per share, based on Chesapeake&#8217;s closing price&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36591781/why-southwestern-energy-shares-are-down-today" rel="noreferrer noopener">on January 10, 2024</a>.
At this exchange ratio and the respective share prices on January 10, 2024, the combined company would have an enterprise value<a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36521132/southwestern-energy-and-chesapeake-energy-near-17b-merger-report" rel="noreferrer noopener">&nbsp;of around $24 billion</a>.&nbsp;
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36617282/chesapeake-energys-strategic-merger-with-southwestern-energy-wins-analyst-endorseme" rel="noreferrer noopener">Chesapeake Energy&#8217;s Strategic Merger with Southwestern Energy Wins Analyst Endorsement: Upgraded Ratings and Anticipated Market Dominance</a>
Investors can gain exposure to the stock via&nbsp;Invesco Energy Exploration &amp; Production ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXE#NYSE">PXE</a>) and&nbsp;Texas Capital Funds Trust Texas Capital Texas Oil Index ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OILT#NYSE">OILT</a>).&nbsp;
Price Action: CHK shares are down 0.10% at $89.23 on the last check Friday.
Photo via Shutterstock

Government

Regulations

OILT

PowerShares ETF Trust Dynamic Energy Exploration & Production Port

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Chesapeake Energy Corporation (CHK) Q1 2024 Earnings Call Transcript

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Press Releases

SOUTHWESTERN ENERGY INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Southwestern Energy Company - SWN

CHESAPEAKE ENERGY CORPORATION PROVIDES 2023 FOURTH QUARTER AND FULL YEAR EARNINGS CONFERENCE CALL INFORMATION

SHAREHOLDER UPDATE: Halper Sadeh LLC Investigates SWN, SOLO, XOS, CHK

CHESAPEAKE ENERGY CORPORATION, DELFIN LNG AND GUNVOR SIGN LONG-TERM LNG LIQUEFACTION OFFTAKE AGREEMENT INDEXED TO JAPAN KOREA MARKER

Sage Geosystems Raises $17 Million in Series A, Announces World's First Commercial Geopressured Geothermal System (GGS) Facility

CHESAPEAKE REPORTS FOURTH QUARTER AND FULL-YEAR 2023 FINANCIAL AND OPERATING RESULTS AND ISSUES 2024 OUTLOOK

Opinion

How Europe Can Win the Energy War With Russia

CHESAPEAKE ENERGY CORPORATION PROVIDES 2024 FIRST QUARTER EARNINGS CONFERENCE CALL INFORMATION

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Chesapeake Energy Stock (NASDAQ:CHK), Short Interest Report

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