Chesapeake Energy falls after posting downbeat Q1 profit
** Shares of natural gas producer Chesapeake Energy Corp CHK.O down ~3% at $87.10
** Co misses first-quarter profit estimates as persistently low natural gas prices weighed down on the company's results
** Posts Q1 adj EPS of 56 cents vs est of 60 cents - LSEG
** "It is difficult to get constructive in the current macroeconomic environment especially with the uncertainty around the pro forma outlook with the close of the pending acquisition expected in 2H24 following the 2nd request by the FTC" - Siebert Williams Shank & Co
** Earlier in April, CHK and Southwestern Energy SWN.N said the closing date of their proposed $7.4 bln merger had been pushed back to 2H24 after receiving a second request for information from the U.S. Federal Trade Commission (FTC)
** Brokerage adds there is also rising concern among investors that the FTC will prevent the merger from consummating, which creates an overhang
** Including session's losses, CHK up ~13% YTD
Reporting by Roshia Sabu in Bengaluru
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