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Stock Market & Financial Investment News

News Breaks
May 15, 2014
18:07 EDTEXC, BEPBrookfield Renewable acquires remaining stake in 417 MW Hydroelectric facility
Brookfield Renewable Energy Partners (BEP) announced that, with its institutional partners, it has entered into an agreement with a wholly-owned subsidiary of Exelon (EXC), to acquire the remaining 67% interest it did not already own in the 417 MW Safe Harbor hydroelectric facility on the Susquehanna River in Pennsylvania. Safe Harbor generates an average of 1,100 GWh annually and possesses storage capabilities that support daily operations and dispatch during peaking hours. It is one of the largest conventional hydroelectric facilities in Pennsylvania-New Jersey-Maryland Interconnection, a market which offers multiple revenue streams including energy, capacity, ancillaries and renewable energy credits. The total purchase price for the transaction is approximately $613M subject to customary working capital adjustments, and will be funded through available liquidity and capital from Brookfield Renewable and its institutional partners. It is expected that a portion of the purchase price will be funded with non-recourse, fixed-rate financing. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed in the third quarter.
News For BEP;EXC From The Last 14 Days
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October 6, 2015
15:44 EDTEXCDC Mayor to announce negotiated settlement on Exelon/Pepco deal, Bloomberg says
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October 4, 2015
16:56 EDTEXCExelon reaches tentative agreement in proposed Pepco deal, Bloomberg says
Exelon (EXC) has reached a tentative agreement with Washington D.C. over the company's proposed Pepco (POM) acquisition, reports Bloomberg, citing people with direct knowledge of the discussions. The preliminary agreement includes an increased number of customer credits and would also require Exelon to set up secondary headquarters in D.C., said one of the sources. Reference Link
October 1, 2015
13:45 EDTEXCRecent news supportive of Exelon-Pepco merger approval, says KeyBanc
After the Office of People's Counsel said it was pleased that Exelon (EXC) and Pepco Holdings (POM) were willing to offer additional consumer benefits through settlement discussions and D.C.'s Attorney General filed a motion to extend by 30 days the schedule to file comments on the proposed merger, KeyBanc analyst Paul Ridzon said he views both developments as supportive of the deal. The firm has an Overweight rating on Pepco shares.
September 29, 2015
16:41 EDTEXCGE Hitachi, Exelon Generation form joint development of two digital solutions
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September 28, 2015
19:13 EDTEXCPepco, Exelon file for reconsideration of merger
Pepco Holdings (POM) and Exelon Corporation (EXC) have filed a petition for reconsideration of their merger with the Public Service Commission of the District of Columbia. The companies are working with the District of Columbia government to reach a settlement agreement. "We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it," said Chris Crane, president and CEO of Exelon. "Since the Public Service Commission explained why it didn't approve the merger last month, we've worked to learn what's most important to the District - and we are responding." The District of Columbia government issued a statement confirming that it is engaged in substantive discussions with the companies on a settlement agreement. It added that any settlement agreement would be presented in a new application to the PSC for review, public comment and final determination. Joseph Rigby, chairman, president and CEO of Pepco Holdings, said, "We look forward to completing discussions with the District that will allow for a stronger Pepco to provide improved reliability along with the other significant benefits our merger will deliver to the District."
19:11 EDTEXCOn The Fly: After Hours Movers
HIGHER: Yahoo (YHOO), up 3.3% after the board authorized Yahoo to continue to pursue the Aabaco spin-off plan... Cheniere Energy (LNG), up 0.67% after Carl Icahn raised his stake in the company to 11.43%... Republic Airways (RJET), up 7.4% after the company was upgraded to Buy from Hold at Deutsche Bank... Exelon (EXC) and Pepco (POM), higher by 1% and 2.4%, respectively, after the DC Mayor's office released a statement confirming discussions of a settlement agreement with the companies. LOWER AFTER EARNINGS: SYNNEX (SNX), down 2.7% after the company reported Q3 results, gave Q4 guidance, and raised its quarterly dividend. ALSO LOWER: Zosano (ZSAN), down 52.5% after it discontinued development of its Daily ZP-PTH treatment for severe osteoporosis and terminated a collaboration agreement with Eli Lilly (LLY)... OvaScience (OVAS), down 15.9% after the company announced it doesn't expect to meet its previous 2015 goal of 1,000 Augment treatment cycles.
17:20 EDTEXCDC Mayor's office releases statement on Exelon, Pepco merger negotiations
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September 25, 2015
10:00 EDTEXCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3M (MMM) upgraded to Outperform from Neutral at Credit Suisse... ACE Limited (ACE) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Buy from Outperform at CLSA... Autoliv (ALV) upgraded to Sector Perform from Underperform at RBC Capital... Bed Bath & Beyond (BBBY) upgraded to Market Perform at Telsey Advisory... Box (BOX) upgraded to Buy at Canaccord... Chevron (CVX) upgraded to Peer Perform from Underperform at Wolfe Research... CyberArk (CYBR) upgraded to Buy from Neutral at Nomura... Exelon (EXC) upgraded to Buy from Neutral at Guggenheim... General Growth (GGP) upgraded to Outperform from Market Perform at BMO Capital... Intel (INTC) upgraded on positive checks, developments at JMP Securities... KLA-Tencor (KLAC) upgraded to Outperform from Underperform at CLSA... Lam Research (LRCX) upgraded to Buy from Outperform at CLSA... Marvell (MRVL) upgraded to Buy from Hold at Craig-Hallum... Nike (NKE) upgraded on share gains at Sterne Agee CRT... Spirit Airlines (SAVE) upgraded to Outperform from Market Perform at Cowen... United Rentals (URI) upgraded to Neutral from Underperform at BofA/Merrill.
06:42 EDTEXCExelon upgraded to Buy from Neutral at Guggenheim
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September 24, 2015
08:19 EDTEXCExelon weakness overdone, says RBC Capital
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07:41 EDTEXCMitsubishi UFJ to hold a conference
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September 23, 2015
07:10 EDTEXCExelon weakness creates buying opportunity, says SunTrust
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