Chesapeake Energy Falls after Missing Estimates; Anika Therapeutics Gets FDA Approval for Monovisc

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Chesapeake Energy Falls after Missing Estimates; Anika Therapeutics Gets FDA Approval for Monovisc

Chesapeake Energy Corporation (NYSE: CHK) – For an in-depth report on Chesapeake Energy Corporation follow:

Shares of Chesapeake Energy closed down 4.94% on Wednesday on about 27.7 million shares traded after reporting disappointing earnings for the fourth quarter of 2013 as a result of rising costs. For the fourth quarter the company posted earnings of 27 cents a share. That's 12 cents lower than the Capital IQ Consensus Estimate of 39 cents a share.

Petrotech Oil and Gas, Inc. (OTC: PTOG) - For an in-depth report on Petrotech Oil and Gas, Inc. follow:

Shares of Petrotech Oil and Gas closed up 133.73% on Wednesday making it one of the biggest winners in the OTC market. The stock traded about 93 million shares after announcing that it has expanded Cannabis and Hemp production and distribution channels in states of Washington and Colorado. The company has secured a Medical and Recreational License from the state of Colorado, and has signed on six licensed growers, as well as three additional growers in Washington. They are currently negotiating to lease warehouse space in Tacoma, Washington, and a dispensing storefront in Telluride, Colorado.

Anika Therapeutics Inc. (NASDAQ: ANIK) – For an in-depth report on Anika Therapeutics Inc. follow:

Anika Therapeutics closed up 33.16% on Wednesday with nearly 6.5 million shares traded. The stock was one of the biggest gainers on the NASDAQ and hit a new 52-week high of $52.49 during intra-day trading. The big move came after the Food and Drug Administration gave marketing approval for the drug Monovisc for osteoarthritis of the knee. According to Anika's press release, Monovisc "is a single injection supplement to synovial fluid of the osteoarthritic joint, used to treat pain and improve joint mobility in patients suffering from osteoarthritis of the knee." The injection will be marketed in the U.S. by DePuy Synthes, a subsidiary of Johnson & Johnson.

Forest Oil Corporation (NYSE: FST) - For an in-depth report on Forest Oil Corporation:

Shares of FST closed down 37.77% on Wednesday with about 63.7 million shares traded and even hit a new 52-week low. The stock was one of the biggest crashers on the NYSE after the company announced fourth-quarter earnings that came up short of analysts' expectations. The company also announced a significant decline in its end-of-year reserves estimate.  Forest Oil reported earnings per share of 2 cents for the quarter, which just missed the consensus estimate of 3 cents from analysts polled by Thomson Reuters. The company also missed on revenue at $88.49 million, which came up well short of analysts' expectations of $96.31 million.


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