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Stock Market & Financial Investment News

News Breaks
November 5, 2012
05:06 EDTFEJCP&L crews restore service to 60 % of customers affected by Hurricane Sandy
Jersey Central Power & Light, or JCP&L, with the largest complement of line and forestry crews in its history, has restored power to 60 percent of 1.2M customers affected by Hurricane Sandy. Since yesterday, crews restored power to 125,000 customers. Another 135,000 are expected to be restored by Monday. More than 700,000 customers have had power restored since the massive storm passed. About 470,000 customers remain without power, most of whom live in Morris, Monmouth and Ocean counties. About 6,800 professionals, including 3,500 linemen and 1,400 forestry workers, are focused on restoring power to the remaining customers. An additional 200 linemen are expected today and tomorrow. "Our response to Hurricane Sandy is the largest mobilization of crews and manpower in the history of JCP&L. Before the storm, we amassed an army of linemen and have doubled their number as more resources became available. Don Lynch, President of JCP&L commented: "Everyone at JCP&L understands the hardships and frustration of extended power outages. JCP&L continues to focus on completing restoration to police and fire departments, water and sewage treatment plants, hospitals, schools, and gas stations. Many of these priority customers require extensive repairs to connect. Many of the remaining customers will be restored by Nov. 7. Customers in harder-hit areas can expect to be restored throughout the following week. In some areas where roads, infrastructure, homes and businesses were destroyed, restoration is currently impossible. JCP&L is a subsidiary of FirstEnergy (FE).
News For FE From The Last 14 Days
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April 1, 2015
12:39 EDTFEOn The Fly: Midday Wrap
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11:59 EDTFEDynegy, NRG Energy retreat after FERC postpones decision on PJM plan
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10:48 EDTFEFERC head sees 'market uncertainty' from PJM deficiency letter
The Commissioner of the Federal Energy Regulatory Commission, Philip Moeller, said in a statement yesterday, "Today, staff issued a deficiency letter in this proceeding. In future deliberations in this proceeding, I will of course consider the totality of the record, including all of the responses to staff’s deficiency letter. Nonetheless, I believe that this proceeding already contains sufficient information to permit the Commission to issue an order on the merits of PJM’s proposal in advance of the May 2015 Base Residual Auction. Markets provide the best prices for both buyers and sellers when participants know the market rules. Regardless of whether the Commission ultimately decides to accept or reject PJM’s capacity performance proposal, by failing to act, the Commission is creating market uncertainty on issues that need clarity now. For this reason, I believe that we should have acted today on the merits of PJM's filings. However, this five-member Commission can only move forward on an order when we have three votes for action." Shares of companies to tied to PJM generation, including Dynegy (DYN), Exelon (EXC), NRG Energy (NRG), PSEG (PEG), PPL Corp. (PPL) and FirstEnergy (FE), are moving lower in early trading.
10:32 EDTFEFERC deficiency letter to PJM prolongs uncertainty, says Deutsche Bank
Deutsche Bank notes the Federal Energy Regulatory Commission issued a deficiency letter to the PJM Interconnection relating to the Capacity Performance case. Deutsche views the letter as prolonging the uncertainty for investors in PJM generation stocks, namely Dynegy (DYN), Exelon (EXC), NRG Energy (NRG), PSEG (PEG), American Electric (AEP), PPL Corp. (PPL) and FirstEnergy (FE). Deutsche expects some weakness in the stocks, but says the FERC did not say no and that the deficiency letter implies they are giving the CP proposal serious consideration. The firm finds it more likely than not that something close to PJM’s Capacity Performance filing will be approved.
March 30, 2015
10:00 EDTFEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: BHP Billiton (BHP) upgraded to Outperformer from Sector Performer at CIBC...Analog Devices (ADI) upgraded to Overweight from Equal Weight at Barclays... Continental Resources (CLR) upgraded to Buy from Hold at Societe Generale... FirstEnergy (FE) upgraded to Overweight from Equal Weight at Barclays... Madison Square Garden (MSG) upgraded to Buy from Hold at Topeka... Madison Square Garden upgraded to Overweight at Morgan Stanley... Nike (NKE) upgraded to Outperform from Neutral at RW Baird.... Restoration Hardware (RH) upgraded to Buy from Neutral at Goldman... Wolverine World Wide (WWW) upgraded to Outperform from Neutral at RW Baird... Transocean (RIG) upgraded to Neutral from Reduce at Global Hunter... Oracle (ORCL) upgraded to Outperform from Sector Perform at RBC Capital... Hertz (HTZ) upgraded to Equal Weight from Underweight at Morgan Stanley... Kraft Foods (KRFT) upgraded to Buy from Hold at Canaccord... GoPro (GPRO) upgraded to Buy from Neutral at Dougherty... Tetra Technologies (TTI) upgraded to Outperform from Sector Perform at Scotia Howard Weil.
05:38 EDTFEFirstEnergy upgraded to Overweight from Equal Weight at Barclays
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