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Stock Market & Financial Investment News

News Breaks
July 29, 2014
07:27 EDTEIX, SO, DUK, PCG, D, EXC, AEPUtilities coping with new environment as electricity sales sputter, WSJ says
Electricity sales are looking anemic for the seventh year in a row and utility companies have had to abandon the assumption that electricity use tracks overall economic conditions, as the effects of regulations and technological changes have made it easier for Americans to cut down their power consumption, said The Wall Street Journal. However, this change has created a new environment for the capital-intensive utilities, which typically need to expand sales volume by 1% or more a year just to maintain their networks. Publicly traded electric utilities include American Electric (AEP), Duke Energy (DUK), Dominion (D), Southern Company (SO), Exelon (EXC), PG&E (PCG), and Edison International (EIX). Reference Link
News For DUK;AEP;D;SO;EXC;PCG;EIX From The Last 14 Days
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August 24, 2015
12:17 EDTSOOn The Fly: Top stock stories at midday
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11:50 EDTSOSouthern Company to host a news conference on AGL Resources acquisition
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10:56 EDTSOSouthern Company says AGL shares were undervalued by markets
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10:22 EDTSOSouthern Company sees selling $3B of stock to fund AGL Resources deal
Says AGL (GAS) acquisition better positions Southern Company (SO) to succeed in future with increasing gas prices. Says now is the right time for this transaction. Expects natural gas use in the U.S. will increase. Sees natural gas use to rise as much as 2.2 BCF per day by 2020. AGL Resources planning $5B in capital spending over the next five years. Southern Co. sees equity sales beginning later this year. Comments taken from companies' conference call discussing the transaction. In morning trading, Southern Company shares were down 2.88% to $44.48 and AGL Resources shares were up 27.14% to $60.85.
09:18 EDTSOOn The Fly: Pre-market Movers
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08:03 EDTEXCExelon announces outcome of 2018-19 PJM capacity auction
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07:46 EDTSOSouthern Company & AGL Resources to host joint conference call
Conference call to discuss merger agreement will be held on August 24 at 10 am. Webcast Link
07:41 EDTSOSouthern Company sees AGL Resources deal accretive to ongoing EPS in first year
Southern Company (SO) says expects to issue debt and equity as a result of the transaction to acquire AGL Resources (GAS), with equity issuances through 2019. Says deal will be accretive to ongoing EPS in first full year, with expected long-term EPS growth of 4%-5%. Sees opportunity to raise dividend growth rate, subject to board approval. Together, the companies will have over 1,500 bcf per year of combined natural gas consumption and throughput volume and approximately 9M regulated utility customers in nine states. Comments from slides that will be presented on the companies' conference call discussing the transaction.
07:33 EDTSOSouthern Company to acquire AGL Resources in $12B transaction=
Southern Company (SO) and AGL Resources (GAS) announced that the boards of directors of both companies have approved a definitive merger agreement to create America's leading U.S. electric and gas utility company. Pursuant to the agreement, AGL Resources will become a new wholly owned subsidiary of Southern Company in a transaction with an enterprise value of approximately $12B, including a total equity value of approximately $8B. For Southern Company, this transaction is anticipated to be accretive to earnings per share in the first full year following the close of the transaction, accelerate expected long-term EPS growth to 4%-5%, preserve its strong financial profile and further support investment in the company's diversified energy platform, and enhance the ability to increase the growth rate of its dividend, subject to board of directors' approval. Under the terms of the agreement, AGL Resources' shareholders will be entitled to receive $66 in cash for each share of AGL Resources common stock. This represents a premium of 36.3% to the volume-weighted average stock price of AGL Resources over the last 20 trading days ended Aug. 21, 2015. After closing, AGL Resources will continue to maintain its own management team and board of directors, and, as is the case with Southern Company's other operating subsidiaries, AGL Resources will continue to maintain its own corporate headquarters, which for AGL Resources is in Atlanta. Customers will continue to be served by their current gas and electric utility companies. Until the transaction has received all necessary approvals and has closed, the companies will continue to operate as separate entities. Completion of the transaction is conditioned upon, among other things, the approval of the AGL Resources shareholders and certain state utility and other regulatory commissions. The transaction is also subject to the notification and clearance and reporting requirements under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The companies expect to complete the transaction in the second half of 2016.
07:31 EDTSOSouthern Company to acquire AGL Resources in $12B transaction
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August 21, 2015
17:29 EDTAEP, EXC, DUKPJM releases results for 2018-2019 PJM Interconnection capacity auction
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13:34 EDTEIXEdison International upgraded to Buy from Hold at Deutsche Bank
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09:28 EDTAEPAmerican Electric sees FY16 EPS $3.45-$3.85, consensus $3.71
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09:27 EDTAEPAmerican Electric repeats FY15 EPS view $3.50-$3.65, consensus $3.59
Guidance taken from slides being presented at the Barclays Kohler Mid-West Utilities Conference.
05:12 EDTEIXSouthern California Edison responds to CPUC Judge ruling
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August 20, 2015
10:01 EDTDUKDuke Energy seeks proposals for solar in South Carolina
Duke Energy issued a request for proposals for about 53 megawatts of utility-scale solar capacity to be in-service in its South Carolina service areas by the end of 2016. In a separate RFP, the company seeks up to 5 megawatts of solar capacity for its Shared Solar Program, an innovative offer that will allow multiple customers to subscribe to the output of a specific solar facility and share in the economic benefits of the power produced. Projects should be greater than 250 kilowatts and no more than 1 megawatt of capacity. The company anticipates the Shared Solar Program will be particularly attractive to customers who want to receive the benefits of renewable energy but may not be able to install solar on their premises, such as renters or those who live in multi-family housing.
08:03 EDTDIntrexon and Dominion enter exclusive agreement in Marcellus and Utica basins
Intrexon (XON) announced that Intrexon Energy Partners, and Dominion Energy, a subsidiary of Dominion (D), have entered into an agreement to explore the potential for commercial-scale biological conversion of natural gas to isobutanol, a drop-in fuel with numerous advantages over other clean burning gasoline blendstocks. Under the terms of the agreement, IEP will be required to meet specific development milestones prior to initiation of certain commercialization activities, which are subject to board approval by both parties. Dominion will be the exclusive partner to construct, own, operate, and maintain the production facilities in the Marcellus and Utica Shale Basins located in eastern North America via potential long-term services agreements with IEP. Within this geographic region, the collaboration plans to build natural gas bioconversion facilities leading to the creation of job opportunities and generation of local and state tax revenue.
August 19, 2015
16:47 EDTPCGPG&E names Melissa Lavinson as Chief Sustainability Officer
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16:14 EDTSOGeorgia Power reaches 'milestone' in Vogtle nuclear expansion
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07:08 EDTEXCExelon called 'clear value' ahead of PJM auction results at Deutsche Bank
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