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Stock Market & Financial Investment News

News Breaks
January 30, 2013
05:53 EDTDUK, EXC, EIX, ETRCheap gas threatens nuclear power, WSJ reports
U.S. utilities are facing something they never expected: some natural-gas-fired power plants cost less to operate than nuclear units. That's leading some companies to consider shuttering their nuclear facilities, reports the Wall Street Journal. Among the nuclear plants regarded as vulnerable by UBS (UBS) Investment Research are Exelon Corp.'s (EXC) Clinton plant in Illinois and its Ginna plant in New York, as well as Entergy Corp.'s (ETR) Vermont Yankee and FitzPatrick plants in Vermont and New York. Plants facing costly repairs include Edison International's (EIX) San Onofre plant in Southern California and Duke Energy's (DUK ) Crystal River plant in Florida, both now idled. Reference Link
News For EXC;ETR;EIX;DUK From The Last 14 Days
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December 19, 2014
10:01 EDTDUKDuke Energy acquires Halifax solar project in eastern North Carolina
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07:51 EDTDUKCarolina Business Review to hold a discussion on the economic outlook
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December 15, 2014
10:00 EDTETROn The Fly: Analyst Upgrade Summary
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08:14 EDTETREntergy upgraded at Morgan Stanley
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06:33 EDTETREntergy upgraded to Equal Weight from Underweight at Morgan Stanley
06:18 EDTETREntergy upgraded to Neutral from Sell at Citigroup
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December 12, 2014
15:10 EDTETREntergy wins appeal ruling related to Indian Point
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07:21 EDTEIXEdison International price target raised to $72 from $62 at BofA/Merrill
BofA/Merrill raised Edison International's price target to $72 following the better-than-expected dividend raise. Shares are Buy rated and on the US 1 List.
December 11, 2014
16:13 EDTEIXEdison International raises common stock dividend 17.6% to 41.75c
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December 10, 2014
14:22 EDTDUKDuke Energy accelerating ash basin closure planning across fleet
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09:09 EDTDUKDuke Energy receives FERC approval for NCEPA assets purchase
Duke Energy has received approval from the Federal Energy Regulatory Commission to proceed with plans to purchase the North Carolina Eastern Municipal Power Agency's generating assets. The ruling is an important milestone of the approximately $1.2B transaction with NCEMPA, announced July 28. NCEMPA currently maintains partial ownership interest in several Duke Energy Progress plants.
07:45 EDTDUKWells Fargo to hold a symposium
2014 Wells Fargo Energy Symposium is being held in New York on December 9-10; with webcasted company presentations to begin on December 10 at 8 am; not all company presentations may be webcasted. Webcast Link
December 9, 2014
10:23 EDTDUKOn The Fly: Analyst Downgrade Summary
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09:07 EDTETREntergy agrees to buy Union Power Station for $948M
Entergy announced that its subsidiaries, Entergy Arkansas, Entergy Gulf States Louisiana, and Entergy Texas have signed an agreement to acquire the Union Power Station near El Dorado, Arkansas. The station is owned by Union Power Partners, L.P., an independent power producer and wholly-owned by Entegra TC LLC. The Union Power Station, which entered commercial service in 2003, consists of four combined-cycle gas-fired generating units, or CCGTs, each rated at 495 MW. Under the Asset Purchase Agreement, Entergy Arkansas and Entergy Texas have each agreed to acquire one unit and Entergy Gulf States Louisiana has agreed to acquire two units. Entergy New Orleans will receive 20 percent of the output from the Entergy Gulf States Louisiana units via an at-cost purchase power agreement, subject to City Council of New Orleans approval. The plant purchase price is $948M, or $237M per unit, subject to adjustments. The purchase price is approximately half the cost to build a comparable new CCGT facility. The purchase is contingent upon, among other things, obtaining necessary approvals, including acceptable cost recovery, from the various federal and state regulatory authorities and the expiration of the waiting period under the Hart-Scott-Rodino antitrust law. The targeted closing date is late 2015. The total investment associated with this proposed plant acquisition, including the amounts associated with the purchase price, transaction costs, contingency and future investment in the plant and transmission upgrades, was generically included in the previously disclosed preliminary 2015 through 2017 capital plan for Entergy and the affected subsidiaries. In addition, the estimated earnings implications were reflected in the financial outlook of approximately 5%-7% compound annual average net income growth through 2017 (off 2013 base year) for the Utility business. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including more than 10,000 megawatts of nuclear power, making it one of the nation's leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy has annual revenues of more than $11 billion and approximately 14,000 employees.
08:00 EDTDUKDuke Energy downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Duke Energy to Neutral from Outperform, citing a lack of limited upside in the near term and the belief that a review of the company's international assets is unlikely to result in asset sales or cash transfers into the U.S. The firm, however, raised its price target on the stock to $84 from $79.
December 8, 2014
12:35 EDTDUKDuke Energy receives approval from NCUC to build three solar facilities
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