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Stock Market & Financial Investment News

News Breaks
February 28, 2014
16:32 EDTEXCExelon subsidiary to receive $355M in early termination agreement
On February 26, Exelon subsidiary UII and the City Public Service Board of San Antonio, Texas, or CPS, finalized an agreement to terminate a coal-fired generating station lease, and other related agreements, prior to their expiration dates. The termination agreement provides for UII to receive a net early termination amount of $335M from CPS, which UII believes is a sufficient amount such that it is in Exelon’s best interest to terminate the lease, due in part to certain economic uncertainties with respect to the end of lease term options, including the likelihood of UII incurring significant capital expenditures and increased operational risk. The termination of the lease will result in a net loss at UII, which is not material, and a tax payment of approximately $285M by Exelon and its subsidiaries in 2014, including approximately $150M by Commonwealth Edison Company.
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August 21, 2014
06:33 EDTEXCPJM proposal bullish data point for generators, says Deutsche Bank
Deutsche Bank notes PJM late Wednesday proposed capacity market reforms in response to poor reliability performance by generators. Deutsche views the proposal as a bullish data point for generators with a weighting towards highly reliable baseload capacity. The firm has Buy ratings on Exelon (EXC) and PSEG (PEG).
August 19, 2014
09:02 EDTEXCExelon, Pepco file for merger approval with Maryland Public Service Commission
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07:47 EDTEXCExelon management to meet with SunTrust
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