Posts for Ticker ‘EXC’

Top 10 Analyst Upgrades and Downgrades (ADSK, BA, BEAV, EXC, OXPS, RCL, UNH, TROW, WU, AUY)

These are this Monday morning’s top ten Wall Street analyst upgrades, downgrades, and initiations we have seen with close to 2 hours until the market opens:
Autodesk (ADSK) Cut to Hold at Deutsche Bank.
Boeing (BA) Cut to Equal Weight at Barclays.
BE Aerospace (BEAV) Raised to Outperform at FBR.
Exelon (EXC) Cut to Hold at KeyBanc.
OptionsXpress (OXPS) Raised to Neutral from Sell at Merriman Curhan Ford.
Royal Caribbean (RCL) Raised to Buy at S&P.
UnitedHealth (UNH) Raised to Outperform at Credit Suisse.
T. Rowe Price (TROW) Raised to Market Perform at FBR.
Western Union (WU) Started as Buy at Citigroup.
Yamana Gold (AUY) Cut to Sector Perform at CIBC.

Jon C. Ogg
July 27, 2009

Posted on: July 27, 2009 – 6:45 am in Analyst Calls, , , , , , , , , ,

Analyst Looks More Positive on Utilities (AEP, DUK, EXC, PCG, PEG, UTL, XEL, ED, FPL, PNW, PGN, SCG, SO, IDU)

Power Lines ImageOppenheimer is making a new call in the utility sector.  It looks a bit mixed between positive and somewhat cautious calls this morning, but it is important to note that many of these utilities are still in the lower half of the trading range of their last 52-weeks and some are significantly off of highs.

The new OUTPERFORM rated stocks are American Electric Power Co., Inc. (NYSE: AEP), Duke Energy Corporation (NYSE: DUK), Exelon Corporation (NYSE: EXC), PG&E Corp. (NYSE: PCG), Public Service Enterprise Group Inc. (NYSE: PEG), UNITIL Corporation (NYSE: UTL), Xcel Energy Inc. (NYSE: XEL).

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Posted on: June 30, 2009 – 7:39 am in Analyst Calls, Utilities, , , , , , , , , , , , , ,

NRG Wins In Reliant Deal (NRG, RRI, EXC)

money-stack-imageNRG Energy Inc. (NYSE:NRG) has completed its $287.5 million cash acquisition of Texas retail business of Reliant Energy Inc. (NYSE:RRI). This could have an impact on the ongoing battle over  a proposed deal involving Exelon Corp. (NYSE:EXC).

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Posted on: May 1, 2009 – 7:37 am in Mergers and Buy Outs, Utilities, , ,

Power Generation Results Mixed (D, XEL, NRG, EXC, RRI)

power-lines-image4Three large electric utilities reported earnings this morning, and the results are could be better, but they could also be worse.  Dominion Resources, Inc. (NYSE:D) and NRG Energy, Inc. (NYSE:NRG) were up following their reports.
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Posted on: April 30, 2009 – 7:48 am in Earnings, Utilities, , , ,

Exelon Results Mixed, But Maintains 2009 Outlook (EXC, NRG, RRI)

power-lines-image1Electricity generator Exelon Corporation (NYSE:EXC) this morning reported EPS of $1.08 on revenue of $4.77 billion. Analysts’ estimates averaged EPS of $1.14 and revenue of $4.62 billion. Non-GAAP EPS was $1.20.
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Posted on: April 23, 2009 – 9:28 am in Earnings, Utilities,

NRG is the Company of ‘No’ (NRG, EXC, RRI)

NRG Energy Inc. (NYSE:NRG) has sent a long letter to shareholders counseling them not to vote for the new slate of directors being proposed by Exelon Corporation (NYSE:EXC).  NRG notes that the price of Exelon’s fixed exchange ratio offer has dropped 17% since Exelon first announced its proposal to acquire NRG. The company is still pounding the point that Exelon’s offer is “inadequate and unacceptable.”  NRG also points out that its proposed acquisition of Reliant Energy Inc.’s (NYSE:RRI) retail business will result in the addition of $150-$200 million in annual EBITDA for NRG shareholders beginning immediately.
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Posted on: April 3, 2009 – 8:17 am in Mergers and Buy Outs, Utilities, , ,

NRG-Reliant, When A Deal Looks Done (NRG, RRI, EXC)

money-stack-image1The US Department of Justice and the Federal Trade Commission have granted NRG Energy, Inc. (NYSE:NRG) early termination of the Hart-Scott-Rodino Act waiting period related to NRG’s proposed acquisition of the Texas retail business of Reliant Energy Inc. (NYSE:RRI).  NRG expects to close the $287.5 million deal during the second quarter of 2009.  That is, NRG expects to close the deal unless Exelon Corp. (NYSE:EXC) trumps it by acquiring NRG.  Shares in all three companies are down marginally this morning.

Paul Ausick
April 1, 2009

Posted on: April 1, 2009 – 9:47 am in Mergers and Buy Outs, Utilities, , ,

NRG Throws Debt Scare at Exelon (NRG, EXC, RRI)

money-stack-image59NRG Energy, Inc. (NYSE:NRG) has sent a letter to Exelon Corporation (NYSE:EXC) calling on Exelon to withdraw is proposal to expand NRG’s board and to “pack” the board with Exelon picks at the next NRG annual meeting.
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Posted on: March 27, 2009 – 9:26 am in Mergers and Buy Outs, Utilities, , ,

Exelon Fires Another Round (EXC, NRG, RRI)

money-stack-image43Exelon Corporation (NYSE: EXC) has filed its preliminary proxy statement for the 2009 annual meeting of NRG Energy, Inc. (NYSE: NRG). NRG still hasn’t scheduled the meeting, but Delaware law requires that the meeting be scheduled within 13 months of NRG’s last annual meeting, which was held on June 14, 2008.
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Posted on: March 18, 2009 – 9:12 am in Mergers and Buy Outs, Utilities, , ,

NRG-Exelon-Reliant: Merger Soap Opera Continues (NRG, EXC, RRI)

money-stack-image31The CEO and Chairman of NRG Energy, Inc. (NYSE:NRG) have sent a letter to stockholders pointing out the weaknesses in the buyout offer from Exelon Corporation (NYSE:EXC). Earlier this month, Exelon announced that it received tenders for 51% of NRG shares. NRG countered with an offer to buy the retail business of Reliant Energy Inc. (NYSE:RRI).
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Posted on: March 13, 2009 – 8:43 am in Mergers and Buy Outs, Utilities, , ,

The 52-Week Low Club (LDK)(ABT)(EXC)(FMCN)

bear5LDK Solar (LDK) Write-down and poor forecast. Drops to $4.01 from 52-week high of $52.40.

Abbott Laboratories (ABT) No special news. Just drifting down. Falls to $44.51 from 52-week high of $59.95.

Exelon Corp (EXC) Analyst downgrade. Sells off to $38.41 from 52-week high of $92.13.

Focus Media  (FMCN) China-based advertising firm being hit like US counterparts. Drops to $4.84 from 52-week high of $46.92.

Douglas A. McIntyre

Posted on: March 11, 2009 – 2:56 pm in HI/LOW, , , ,

How Good is the NRG-Reliant Deal? (NRG, RRI, EXC)

burning-money-pic7The offer from NRG Energy, Inc. (NYSE:NRG) to buy the retail business of Reliant Energy Inc. (NYSE:RRI) for $287.5 million has now drawn some attention from Fitch Ratings. As one might expect, the benefits to Reliant outweigh the benefits to NRG, at least that’s what Fitch thinks.
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Posted on: March 4, 2009 – 8:51 am in Mergers and Buy Outs, Utilities, , ,

Reliant Joins NRG-Exelon Merger Bermuda Triangle (RRI, NRG, EXC)

money-stack-image1Reliant Energy Inc. (NYSE: RRI) is taking a hit this morning.  It wasn’t just the earnings loss, or its plans to sell a unit.  This really appears to be over the ramifications of the long-term aspects colliding with the near term aspects.  The company suddenly finds itself nestled inside this merger fight between NRG Energy, Inc. (NYSE: NRG) and Exelon Corporation (NYSE: EXC).

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Posted on: March 2, 2009 – 11:37 am in Mergers and Buy Outs, Utilities, , ,

Utilities Merger Looks More Promising (EXC, NRG)

In mid-October, Exelon Corporation (NYSE:EXC) offered to acquire NRG Energy, Inc. (NYSE:NRG) in an all-stock deal at a fixed exchange ratio of 0.485 shares of Exelon stock for each share of NRG stock. The deal was worth about $6.2 billion at the time.
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Posted on: February 27, 2009 – 9:51 am in Mergers and Buy Outs, Utilities, ,

Exelon & NRG, Earnings and a Duel (EXC, NRG)

Exelon Corporation (NYSE:EXC) rose nearly 1.5% yesterday after the company reported fourth quarter 2008 EPS of $1.07, up from $0.84 in 2007. Full-year revenue of $18.86 billion was almost $1 billion higher than estimates, and full-year EPS reached $4.13 slightly lower than estimated EPS of $4.17. The company reaffirmed guidance for 2009 for non-GAAP earnings of$4.00-$4.30/share. Exelon also confirmed that it will continue itsefforts to acquire NRG Energy Inc.(NYSE:NRG).

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Posted on: January 23, 2009 – 12:16 pm in Earnings, Utilities, ,

More Nukes in the Pipeline (CEG, PPL, EXC)

Nuclear_power_picUniStar Nuclear Energy, a joint venture between Electricite de France (EDF) and Constellation Energy Group Inc. (NYSE:CEG), and PPL Corporation (NYSE:PPL), a UniStar partner, have passed the first regulatory review on the road to building four new nuclear power plants. The US Nuclear Regulatory Commission just added the fourth, a plant near Berwick, Pennsylvania, to its docket of combined license applications for new nukes.

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Posted on: January 9, 2009 – 2:15 pm in Nuclear, Utilities, , ,

NRG Lectures the Feds (NRG, EXC)

NRG Energy, Inc. (NYSE:NRG) responded to yesterday’s announcement by hostile suitor Exelon Corporation (NYSE:EXC) that Exelon had filed for Hart-Scott-Rodino approval of its proposed merger with NRG. The response is nothing more than a big whine.

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Posted on: December 19, 2008 – 12:44 pm in Uncategorized, ,

Electric Utilities Make News on Expectations, Merger Plans (LNT, EXC, NRG)

Alliant Energy Corp. (NYSE:LNT) this morning released financial guidance for 2009. The company also noted that it has reached an agreement with the state of Wisconsin on a rate case settlement that will keep natural gas prices to consumers flat, resulting in revenue decrease of about $4 million. Alliant apparently decided that trying to raise consumer rates now was a loser.

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Posted on: December 18, 2008 – 1:51 pm in Mergers and Buy Outs, Utilities, , ,

NRG Says No; Exelon Says Please (NRG, EXC, JPM)

It took NRG Energy (NYSE:NRG) almost two weeks to figure out that shareholders should reject the exchange offer from Exelon Corporation (NYSE:EXC). That’s odd because NRG had already rejected the same offer before Exelon decided to go directly to shareholders.

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Posted on: November 26, 2008 – 8:50 am in Mergers and Buy Outs, Utilities, , ,

Exelon: Hostile Takeover of NRG is Out of the Gate (EXC, NRG)

Nrg_logoExelon Corporation (NYSE:EXC) has officially kicked off its unsolicited takeover of NRG Energy (NYSE:NRG). We reported the details yesterday. Exelon needs to receive a majority of NRG’s shares outstanding (about 233 million total) by January 6, 2009, in order to clinch the deal.

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Posted on: November 13, 2008 – 8:55 am in Mergers and Buy Outs, Utilities, ,