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Chesapeake Energy Corp. (NYSE:CHK) shares closed down 8.38 percent Monday. The natural gas giant plotted with its top competitor to suppress land prices under the direction of CEO Aubrey McClendon, according to a new report by Reuters. “In emails between Chesapeake and Encana Corp, Canada’s largest natural gas company, the rivals repeatedly discussed how to avoid bidding against each other in a public land auction in Michigan two years ago and in at least nine prospective deals with private land owners here,” Reuters reported.
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Quest Software Inc. (NASDAQ:QSFT) shares closed up 5.34 percent today. The company received another buyout offer from an undisclosed bidder. The latest proposal came in at $2.32 billion, higher than the previously proposed $2.17 billion by private equity firm Insight. There is also a good chance the new offer is from Dell Inc. (NASDAQ:DELL), since the computer company was behind a $25.50 per share bid for Quest.
Despite logging a three-week winning streak, shares of Facebook (NASDAQ:FB) closed down 3.13 percent at the end of today’s session. Reuters reported on Friday that Facebook has begun showing ads on Zynga Inc.’s (NASDAQ:ZNGA) website. It is the first time the company has distributed ads beyond its own website.
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Shares of Apple Inc. (NASDAQ:AAPL) closed down 1.88 percent today. Rumors continue to buzz about a possible television set from the iMaker, but it appears that other companies are trying to prepare. Sony Corp. (NYSE:SNE) and Panasonic Corp. agreed to cooperate on developing a new production technology for large screen display panels. The WSJ reports, “Sony and Panasonic said they plan to establish a mass-production method sometime in 2013. The two companies said they are still considering whether to take the next step and collaborate in the mass production of OLED panels and modules.”
Arena Pharmaceuticals Inc. (NASDAQ:ARNA) shares closed down 7.29 percent Monday. The company may receive final approval this week on its anti-obesity drug lorcaserin. However, there is also a strong chance that the FDA will delay a decision. Shares have surged about 10 percent in the past week.
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