Why Tesla, Chesapeake, and 3 Other Companies Are in the Spotlight Today

Lantheus Holdings Inc (NASDAQ:LNTH) shares are down by nearly 13% this morning after the company announced that it will issue 5.2 million shares of common stock in a secondary offering, the pricing of which was not published during the initial press release. Lantheus Holdings intends to use the proceeds raised, along with some cash on hand, to pay down around $55 million of outstanding principal balance under a current senior secured credit facility. The number of successful funds  in our system with holdings in Lantheus Holdings Inc (NASDAQ:LNTH) rose by two quarter-over-quarter to four at the end of June.

Investors Real Estate Trust (NYSE:IRET) is trending after the REIT reported in-line FFO of $0.12 per share for the first quarter of its fiscal year 2017. Revenue for the period was $49.6 million, down by 2.7% year-over-year, but $0.88 million better than estimates. Same-store multifamily NOI grew by 1.1% year-over-year during the period when excluding energy impacted markets, and the company announced the execution of sales agreements to dispose of 26 senior housing assets for $236 million. In terms of guidance, management continues to expect FFO in the range of $0.48 to $0.54 per share for the fiscal year ending April 30, 2017. The company currently pays an annual dividend of $0.52 per share. Nine funds in our database were long Investors Real Estate Trust (NYSE:IRET) as of the most recent 13F reporting period.

After having broken out of a technical range a few days ago, Chesapeake Energy Corporation (NYSE:CHK) is attracting a lot of attention due to the stock’s relative strength. Not only is WTI considerably higher after the EIA reported a draw-down of 14.5 million barrels last week, but Chesapeake also provided relatively-upbeat guidance for the coming years at a presentation at the Barclays CEO Energy-Power Conference yesterday. According to the data presented, Chesapeake will try to execute another $900 million in asset sales after selling $1.1 billion thus far. With the capital raised, Chesapeake is hoping to reduce its debt by $2 billion-to-$3 billion. Although it is selling assets, management is nevertheless guiding for between 5% and 15% annual production growth through 2020. Chesapeake also hopes to be cash-flow neutral by 2018, although that event could happen sooner if WTI and natural gas prices spike. Carl Icahn‘s Icahn Capital owned over 73 million shares of Chesapeake Energy Corporation (NYSE:CHK) at the end of June.

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