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Stock Market & Financial Investment News

News Breaks
February 19, 2014
05:15 EDTPEGPSEG Long Island, Local 1049 reach tentative agreement on contract extension
PSEG Long Island announced it reached a tentative agreement on a contract extension with its labor union, Local 1049 of the International Brotherhood of Electrical Workers. The proposed 21-month agreement, which is subject to a ratification vote by IBEW Local 1049 membership in the coming weeks, covers nearly 1,400 PSEG Long Island employees who operate and support the Long Island transmission and distribution system. The agreement calls for annual incremental increases in base wages of 2%, effective February 14, 2015, and 2.25%, effective February 14, 2016. Additionally, the agreement would deliver a lump sum bonus of $500 per member, to be paid February 1, 2015. The agreement replaces a contract that would have expired February 13, 2015, and will run through November 12, 2016.
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July 23, 2014
09:12 EDTPEGPSEG acquires solar facility in Vermont from juwi solar
PSEG will acquire the ERWR Whitcomb Farm Solar project from juwi solar. The facility has a 25-year power purchase agreement with Vermont Electric Power Producers as part of the Vermont Sustainably Priced Energy Enterprise Development program. The acquisition will increase PSEG's Solar Source portfolio to 110 MWdc.
July 16, 2014
10:00 EDTPEGOn The Fly: Analyst Upgrade Summary
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07:45 EDTPEGPSEG upgraded to Buy from Hold at Argus
Argus upgraded PSEG to Buy from Hold due to an improved outlook for forward power prices, valuation, and an expanding infrastructure improvement program. Price target is $44.

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