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Chesapeake's stock bounces off 20-yr. low
Shares of Chesapeake Energy Corp. CHK, +3.16% surged 3.4% in afternoon trading Friday, to bounce off a 20-year closing low, as a a rebound in oil prices helped provide a boost. The oil and gas company's stock had tumbled 7.1% on Thursday, and sank 18% amid a four-session losing streak, to the lowest close ($1.58) since April 1999. On Friday, crude oil futures CLQ19, +1.39% rose 0.7% to snap a four-session losing streak, helped by reports that Iran seized a U.K.-flagged ship in the Gulf of Oman.
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