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Company News for January 10, 2011 - Corporate Summary
Monday, January 10, 2011 - 10:31am | 762• DuPont (NYSE:DD) reported plans to purchase Danish firm Danisco for $5.8 billion in cash, which is expected to cut 2011 earnings of $3.30-$3.60 by a range of $0.30-$0.45 per share • Playboy Enterprises (NYSE:PLA) is reportedly going private at $6.15 per share • Duke Energy (NYSE:DUK) announced...
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Progress Energy And Duke Energy To Merge, Says Goldman Sachs
Monday, January 10, 2011 - 10:30am | 177Goldman Sachs has published a research report on Progress Energy, Inc. (NYSE: PGN) after the company announced a merger with Duke Energy (NYSE: DUK). In the report, Goldman Sachs writes "Duke Energy (DUK, Sell) and Progress Energy (PGN, Neutral) today announced a merger, where PGN shareholders...
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Company News for January 10, 2011 - Corporate Summary
Monday, January 10, 2011 - 10:19am | 762• DuPont (NYSE:DD) reported plans to purchase Danish firm Danisco for $5.8 billion in cash, which is expected to cut 2011 earnings of $3.30-$3.60 by a range of $0.30-$0.45 per share • Playboy Enterprises (NYSE:PLA) is reportedly going private at $6.15 per share • Duke Energy (NYSE:DUK) announced...
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Duke Enegry Acquires Progress Energy for $13.7B
Monday, January 10, 2011 - 9:42am | 17Duke Enegry (NYSE: DUK) acquires Progress Energy for $13.7B
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Duke Energy Buys Progress, Creates Largest Utility In The Country (DUK)
Monday, January 10, 2011 - 9:39am | 140Duke Energy Corporation (NYSE: DUK) is buying Progress Energy Inc (NYSE: PGN) for $13.7 billion in stock, which makes the combined company the country's largest U.S. power company. Duke's offer was a 6.4% premium to the last trading days of Progress. Duke said the deal is accretive to earnings in...
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Jefferies Believes Consolidated Edison's 3-Year Rate Plan Will Benefit Everyone
Monday, January 10, 2011 - 9:38am | 123Jefferies & Company has published a research report on Consolidated Edison (NYSE: ED) after seeing the company report above average earnings and feeling confident about the company's 3-year rate plan that is expected to benefit ratepayers and shareholders. In the report, Jefferies writes "We...
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Duke Energy Purchasing Progress Energy for $13.7 billion
Monday, January 10, 2011 - 8:43am | 177Duke Energy Corp (NYSE: DUK) and Progress Energy Inc (NYSE: PGN) reported that the boards of directors of both the companies have approved the merger plan. Under the agreement, DUK will purchase PGN for $13.7 billion, or $46.48 per share, representing a 4% premium to PGN' three-month price average...
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Citigroup Downgrades PCG To Hold
Monday, January 10, 2011 - 7:53am | 51Analysts at Citigroup downgrade PG&E Corporation (NYSE: PCG) from “buy” to “hold.” The target price for PCG has been lowered from $50 to $48. PCG shares dropped 0.40% to close at $47.02 on Friday. More Analyst Ratings here
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Citigroup Downgrades PG&E Corporation To Hold
Monday, January 10, 2011 - 7:53am | 28Citigroup has downgraded PG&E Corporation (NYSE: PCG) from Buy to Hold and has lowered the price target from $50 To $48.
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Citigroup Downgrades Edison International To Sell
Monday, January 10, 2011 - 7:52am | 27Citigroup has downgraded Edison International (NYSE: EIX) from Hold to Sell and has lowered the price target from $38 to $35.
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Duke Energy And Progress Energy Near $13 Billion Merger (DUK, PGN)
Sunday, January 9, 2011 - 5:28pm | 191Charlotte, North Carolina-based power company Duke Energy Corporation (NYSE: DUK) is reportedly in talks to acquire its rival Progress Energy Inc. (NYSE: PGN) in an all stock deal that is said to be around $13 billion. On a per-share basis, the cost of the rumored deal would be slightly higher than...
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FirstEnergy-Allegheny Energy Merger Clears U.S. Department of Justice
Friday, January 7, 2011 - 5:31pm | 49FirstEnergy Corp. (NYSE: FE) and Allegheny Energy, Inc. (NYSE: AYE) today were notified that the U.S. Department of Justice completed its review of the companies' proposed merger and has closed its investigation.
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High Yield French Stocks
Friday, January 7, 2011 - 3:09pm | 462Investors keep hearing about the financial problems of Portugal, Spain, Ireland, Italy, and Greece. However, France is making major moves to strengthen its economy and reduce its large national debt. After all, the country doesn't want to end up like one of the PIIGS. There are plenty of...
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Timmerman Announces Retirement from SCANA
Friday, January 7, 2011 - 3:02pm | 30SCANA Corporation (NYSE: SCG) announced today that William B. Timmerman, SCANA's Chairman, President and CEO will retire from the Company effective November 30, 2011.
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Takeover of Hawaiian Electric
Friday, January 7, 2011 - 2:49pm | 237Hawaii has several large publicly traded companies. For example, Hawaiian Electric pays a 5.2% yield and trades at 14.5 times forward earnings. The company provides 95 percent of energy to Hawaii residents. Today, it was announced that company called called Kuokoa Inc. is in the process of making...