Energy ETFs Lower on Anadarko, Chesapeake

By (Tom Lydon),

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A 3% pullback in Chesapeake Energy ( CHK ) shares after quarterly earnings pushed energy exchange traded funds (ETFs) lower Tuesday morning.

Chesapeake after Monday's closing bell said it swung to a first-quarter loss. However, Jefferies analysts in a note said results were "slightly ahead of expectations on higher volumes," while costs were generally in line.

Elsewhere in the energy sector, Anadarko Petroleum ( APC ) shares were down about 1% in light premarket trading Tuesday. The company said its first-quarter net income fell from the year-ago period.

Energy Select Sector SPDR Fund (NYSEArca: XLE) was down about 0.6% in preopen action.

Energy Select Sector SPDR Fund

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing ETFs
Referenced Stocks: APC , CHK

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