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May 23, 2014
17:40 EDTAEP, EXC, FE, PPLUtilities rise after PJM says 2017-2018 grid capacity cost rises to $120/Mw-day
WHAT'S NOTABLE: PJM is a regional transmission organization that coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia. The results of PJM's recent auction to procure power supplies three years into the future continued an overall trend toward more gas-fired generation and increasing diversity of resources. The clearing price for resources, which includes generation, annual demand response and energy efficiency, is $120/megawatt-day for all of PJM except the PSE&G location deliverability area. The auction, which concluded today, produced an adequate amount of resources to serve the PJM region in the June 1, 2017 to May 31, 2018 delivery year. STOCKS TO WATCH: PPL Corporation (PPL), Exelon (EXC), American Electric Power Company (AEP), and FirstEnergy (FE) are all up about 2% in after-hours trading. Reference Link
News For PPL;EXC;AEP;FE From The Last 14 Days
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October 7, 2015
11:23 EDTEXCExelon, Pepco merger on track for year-end completion, CTFN says
After the three major parties opposing the merger of Exelon (EXC) and Pepco (POM) reversed course and offered support for the deal, the merger will be sent back to the District of Columbia Public Service Commission that previously rejected it, CTFN noted. Reconsideration is rare and there is some question if it should be handled as a formal reconsideration, a "re-opening" of the record, or a new merger application, though several experts say the process could be expedited so the regulators do not have to start all over, CTFN said. James Van Nostrand, director of the Center for Energy and Sustainable Development at West Virginia University, told CTFN that the PSC could issue a new ruling as quickly as 30 days, but that a 60 day timeline is more likely, which would mean a potential re-vote could happen around year-end. Reference Link
October 6, 2015
17:59 EDTEXCPepco, Exelon reach merger settlement with District of Columbia
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17:52 EDTEXCPepco, Exelon reach merger settlement with Washington D.C.
15:44 EDTEXCDC Mayor to announce negotiated settlement on Exelon/Pepco deal, Bloomberg says
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08:02 EDTAEPAmerican Electric management to meet with Deutsche Bank
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October 5, 2015
07:11 EDTAEPAmerican Electric management to meet with Deutsche Bank
Meeting to be held in Boston on October 5 hosted by Deutsche Bank.
October 4, 2015
16:56 EDTEXCExelon reaches tentative agreement in proposed Pepco deal, Bloomberg says
Exelon (EXC) has reached a tentative agreement with Washington D.C. over the company's proposed Pepco (POM) acquisition, reports Bloomberg, citing people with direct knowledge of the discussions. The preliminary agreement includes an increased number of customer credits and would also require Exelon to set up secondary headquarters in D.C., said one of the sources. Reference Link
October 1, 2015
17:21 EDTAEPAmerican Commercial Lines to acquire AEP River Operations
American Commercial Lines, ACL, announced it has signed a definitive agreement to acquire AEP River Operations from American Electric Power. AEP River Operations is a commercial inland barge company delivering approximately 45M tons of products annually. The company is based in Chesterfield, Missouri, with operations in Paducah, Kentucky; and Convent, Algiers and Belle Chasse, Louisiana. ACL, a portfolio company of Platinum Equity, is based in Jeffersonville, Indiana, and is one of the most diversified marine transportation service companies in the United States. ACL President and Chief Executive Officer Mark Knoy ran AEP River Operations for a decade before joining ACL in 2011. He said the proposed acquisition is a strong strategic fit.The transaction is expected to close in the fourth quarter of 2015, subject to regulatory approval and certain closing conditions.
16:55 EDTAEPAmerican Electric to sell AEP River operations to ACL for $550M
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13:45 EDTEXCRecent news supportive of Exelon-Pepco merger approval, says KeyBanc
After the Office of People's Counsel said it was pleased that Exelon (EXC) and Pepco Holdings (POM) were willing to offer additional consumer benefits through settlement discussions and D.C.'s Attorney General filed a motion to extend by 30 days the schedule to file comments on the proposed merger, KeyBanc analyst Paul Ridzon said he views both developments as supportive of the deal. The firm has an Overweight rating on Pepco shares.
September 29, 2015
16:41 EDTEXCGE Hitachi, Exelon Generation form joint development of two digital solutions
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09:26 EDTAEP, PPLWolfe Research to hold a conference
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September 28, 2015
19:13 EDTEXCPepco, Exelon file for reconsideration of merger
Pepco Holdings (POM) and Exelon Corporation (EXC) have filed a petition for reconsideration of their merger with the Public Service Commission of the District of Columbia. The companies are working with the District of Columbia government to reach a settlement agreement. "We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it," said Chris Crane, president and CEO of Exelon. "Since the Public Service Commission explained why it didn't approve the merger last month, we've worked to learn what's most important to the District - and we are responding." The District of Columbia government issued a statement confirming that it is engaged in substantive discussions with the companies on a settlement agreement. It added that any settlement agreement would be presented in a new application to the PSC for review, public comment and final determination. Joseph Rigby, chairman, president and CEO of Pepco Holdings, said, "We look forward to completing discussions with the District that will allow for a stronger Pepco to provide improved reliability along with the other significant benefits our merger will deliver to the District."
19:11 EDTEXCOn The Fly: After Hours Movers
HIGHER: Yahoo (YHOO), up 3.3% after the board authorized Yahoo to continue to pursue the Aabaco spin-off plan... Cheniere Energy (LNG), up 0.67% after Carl Icahn raised his stake in the company to 11.43%... Republic Airways (RJET), up 7.4% after the company was upgraded to Buy from Hold at Deutsche Bank... Exelon (EXC) and Pepco (POM), higher by 1% and 2.4%, respectively, after the DC Mayor's office released a statement confirming discussions of a settlement agreement with the companies. LOWER AFTER EARNINGS: SYNNEX (SNX), down 2.7% after the company reported Q3 results, gave Q4 guidance, and raised its quarterly dividend. ALSO LOWER: Zosano (ZSAN), down 52.5% after it discontinued development of its Daily ZP-PTH treatment for severe osteoporosis and terminated a collaboration agreement with Eli Lilly (LLY)... OvaScience (OVAS), down 15.9% after the company announced it doesn't expect to meet its previous 2015 goal of 1,000 Augment treatment cycles.
17:20 EDTEXCDC Mayor's office releases statement on Exelon, Pepco merger negotiations
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11:01 EDTFEFENOC Beaver valley Power Station Unit 2 begins refueling, maintenance
FirstEnergy Nuclear Operating Company, or FENOC, a subsidiary of FirstEnergy Corp., announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, September 26, for scheduled refueling and maintenance. While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventative maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert super-heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower. More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
September 25, 2015
10:00 EDTEXCOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3M (MMM) upgraded to Outperform from Neutral at Credit Suisse... ACE Limited (ACE) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Buy from Outperform at CLSA... Autoliv (ALV) upgraded to Sector Perform from Underperform at RBC Capital... Bed Bath & Beyond (BBBY) upgraded to Market Perform at Telsey Advisory... Box (BOX) upgraded to Buy at Canaccord... Chevron (CVX) upgraded to Peer Perform from Underperform at Wolfe Research... CyberArk (CYBR) upgraded to Buy from Neutral at Nomura... Exelon (EXC) upgraded to Buy from Neutral at Guggenheim... General Growth (GGP) upgraded to Outperform from Market Perform at BMO Capital... Intel (INTC) upgraded on positive checks, developments at JMP Securities... KLA-Tencor (KLAC) upgraded to Outperform from Underperform at CLSA... Lam Research (LRCX) upgraded to Buy from Outperform at CLSA... Marvell (MRVL) upgraded to Buy from Hold at Craig-Hallum... Nike (NKE) upgraded on share gains at Sterne Agee CRT... Spirit Airlines (SAVE) upgraded to Outperform from Market Perform at Cowen... United Rentals (URI) upgraded to Neutral from Underperform at BofA/Merrill.
06:42 EDTEXCExelon upgraded to Buy from Neutral at Guggenheim
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September 24, 2015
08:19 EDTEXCExelon weakness overdone, says RBC Capital
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07:41 EDTEXC, AEPMitsubishi UFJ to hold a conference
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