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Stock Market & Financial Investment News

News Breaks
April 30, 2014
06:23 EDTSOSouthern Company to take $380M charge in Q1 for cost of Kemper County plant
On April 28, Mississippi Power further revised its cost estimate for the Kemper IGCC to include an adjustment of approximately $61M related to the construction issues as well as approximately $135M related to extension of the expected in-service date for a total of approximately $4.44B net of the DOE Grants and excluding the Cost Cap Exceptions. Mississippi Power does not intend to seek any rate recovery or joint owner contributions for any costs related to the construction and start-up of the Kemper IGCC that exceed the $2.88B cost cap, net of the DOE Grants and excluding the Cost Cap Exceptions. As a result of the revised cost estimate, Southern Company and Mississippi Power recorded total pre-tax charges to income for the estimated probable losses on the Kemper IGCC of $380M in their first quarter 2014 financial statements, in addition to charges totaling $1.2B recognized through December 31, 2013. Comments taken from an 8-K filing.
News For SO From The Last 14 Days
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February 3, 2016
14:24 EDTSOSouthern Company says plans to issue $1.2B of equity in 2016
Says long term EPS growth target remains 4%-5%. Says entering 2016 with "strong momentum." Says will maintain trajectory of dividend. Says does not expect contribution from AGL in 2016. Comments from Q4 earnings conference call.
13:17 EDTSOSouthern Company sees 2016 residential sales growth 1.2%
Sees 2016 commercial sales growth 1.0%, 2016 Industrial sales growth 1.0%, 2016 total retail sales growth 1.1%. FY16 revenue consensus $19.25B.
13:05 EDTSOSouthern Company sees 2016 total retail sales growth 1.1%, consensus $19.25B
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13:04 EDTSOSouthern Company sees FY16-FY18 CapEx $17.9B
Sees FY16 CapEx $7.3B, FY17 CapEx $5.2B, FY18 CapEx $5.5B.
13:02 EDTSOSouthern Company sees FY16 EPS $2.76-$2.88, consensus $2.94
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13:01 EDTSOSouthern Company sees Q1 EPS 53c, consensus 59c
Guidance from slides presentation for Q4 earnings conference call.
06:54 EDTSOSouthern Company reports Q4 EPS ex-items 44c, consensus 43c
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February 2, 2016
14:32 EDTSONotable companies reporting before tomorrow's open
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08:49 EDTSOSouthern Company volatility elevated into Q4 and outlook
Southern Company February weekly call option implied volatility is at 17, March is at 19; compared to its 52-week range of 14 to 24, suggesting large near term price movement into the expected release of Q4 results on February 3.
January 26, 2016
10:00 EDTSOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded on valuation, 2017 outlook at RBC Capital... America Movil upgraded to Overweight from Equal Weight at Morgan Stanley... BNC Bancorp (BNCN) upgraded to Buy from Hold at Gabelli... Casella Waste (CWST) upgraded to Strong Buy from Outperform at Raymond James... Cenovus Energy (CVE) upgraded to Buy from Neutral at Goldman... Cracker Barrel (CBRL) upgraded to Buy from Neutral at SunTrust... D.R. Horton (DHI) upgraded to Buy from Hold at Zelman... Edison International (EIX) upgraded to Buy from Hold at Evercore ISI... First Financial Bancorp (FFBC) upgraded to Buy from Hold at Sandler O'Neill... Hartford Financial (HIG) upgraded to Overweight from Neutral at Atlantic Equities... Heartland Financial (HTLF) upgraded to Buy from Hold at Sandler O'Neill... MFA Financial (MFA) upgraded to Overweight from Neutral at JPMorgan... National General (NGHC) upgraded to Overweight at Morgan Stanley... Navios Maritime Partners (NMM) upgraded to Overweight from Neutral at JPMorgan... PG&E (PCG) upgraded to Buy from Hold at Evercore ISI... SBA Communications (SBAC) upgraded to Buy from Hold at Stifel... Sally Beauty (SBH) upgraded to Outperform from Perform at Oppenheimer... Sanmina (SANM) upgraded to Neutral from Sell at Citi... Scorpio Bulkers (SALT) upgraded to Overweight from Neutral at JPMorgan... Southern Company (SO) upgraded to Hold from Sell at Evercore ISI... Southern Copper (SCCO) upgraded to Overweight from Neutral at JPMorgan... Vodafone (VOD) upgraded to Buy from Hold at Jefferies.
08:10 EDTSOSouthern Company upgraded to Hold from Sell at Evercore ISI
Evercore ISI analyst Greg Gordon upgraded upgraded Southern Company to Hold and increased his price target to $46 from $43.50.
January 25, 2016
10:21 EDTSOSupreme Court upholds FERC 'demand response' rule
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