Chesapeake Wants to DIVEST Assets and 4 HOT Weekend Stories to Note

O’Reilly Automotive, Inc. (NASDAQ:ORLY) bumps its share repurchase capacity up to $2.5 billion, as its board okays the buyback of yet another $500 million in shares, which is in addition to the $2 billion currently available. This is seen as its most recent shareholder-friendly action.

Chesapeake Energy Corporation (NYSE:CHK) is seen as keen to divest assets in order to fund operations. Its properties in Michigan might have brought as much as $500 million, but then came the United States Government’s antitrust inquiry aimed at the company. As for now, some observers believe that the leases can’t be sold at any price due to potentially weak drilling results, and the liability risks.

The initial public offering by Manchester United Ltd. (NYSE:MANU) has not done much for its shares, which finally topped their beginning price of $14 in after-hours trading on Friday.

Capital Research Global Investors had divulged that it owned a 10.5 percent investment in Netflix, Inc. (NASDAQ:NFLX) as of July 31st. The investor group is not thought of as a typical activist investor.

Online broker E*Trade Financial Corporation (NASDAQ:ETFC) shares were Friday’s largest S&P 500 financial sector loser, as its recent management reconfiguration dampened chatter of a sale coming anytime soon.