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Stock Market & Financial Investment News

News Breaks
January 31, 2013
18:04 EDTEXCExelon expects to record a 1Q13 non cash charge to earnings of $270M
Exelon announed in a regulatory filing that as previously dislosed in 1999, Commonwealth Edison Company deferred $1.2B of gain on the sale of its fossil generating facilities by acquiring like-kind property via a purchase leaseback transaction. The IRS has asserted that the Exelon Corporation purchase leaseback transaction is substantially similar to a leasing transaction known as a sale-in, lease-out transaction SILO. A SILO is a “listed transaction” that the IRS has identified as a potentially abusive tax shelter under guidance issued in 2005. Exelon continues to believe that its like-kind exchange transaction is not the same as or substantially similar to a SILO. Exelon expects to initiate litigation in 2013 to contest the IRS’s disallowance of the like-kind exchange position. As of March 31, 2013, in the event of a fully successful IRS challenge to Exelon’s like-kind exchange position, the potential tax and after-tax interest, exclusive of penalties, that could become currently payable may be as much as $860 million, of which approximately $260 million would be attributable to ComEd and the remainder to Exelon
News For EXC From The Last 14 Days
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February 19, 2015
11:31 EDTEXCConstellation selected by Federal Bureau of Prisons for $45M project
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February 13, 2015
17:46 EDTEXCExelon, Pepco Holdings reach settlement in proposed merger
Exelon (EXC) and Pepco Holdings (POM) announced that they have reached a settlement agreement in the proceeding before the Delaware Public Service Commission to review the two companies’ proposed merger, which was announced on April 30, 2014. The settlement, which is subject to the approval of the Commissioners of the PSC, was filed by Exelon and Pepco Holdings, Delmarva Power, and signed by PSC Staff, the Delaware Public Advocate, the Department of Natural Resources and Environmental Control, the Delaware Sustainable Energy Utility, the Mid-Atlantic Renewable Energy Coalition, and the Clean Air Council. The merger will bring together Exelon’s three electric and gas utilities – BGE, ComEd and PECO – and Pepco Holdings’ three electric and gas utilities – ACE, Delmarva Power and Pepco – to create the leading mid-Atlantic electric and gas utility. The transaction was approved by the New Jersey Board of Public Utilities in February, the Federal Energy Regulatory Commission in November, the Virginia State Corporation Commission in October and PHI stockholders in September. The companies expect to complete the merger in the second or third quarter of 2015.
08:03 EDTEXCExelon sees FY15 adjusted EPS $2.25-$2.55, consensus $2.48
08:02 EDTEXCExelon reports Q4 adjusted EPS 48c, consensus 50c
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February 12, 2015
15:41 EDTEXCNotable companies reporting before tomorrow's open
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