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Texas Eyes Renewable Energy Zone
Monday, July 11, 2011 - 5:51pm | 247A joint venture between American Electric Power Company (NYSE: AEP) and MidAmerican Energy has recently begun construction on a major renewable zone with in Texas. The partnership, called Electric Transmission Texas, plans to invest $1.4 billion in the Competitive Renewable Energy Zone (CREZ)...
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Apple hopes to halt sales of HTC devices with new patent infringement claim
Monday, July 11, 2011 - 11:23am | 393Back in March of last year, Apple filed a lawsuit against Taiwan-based handset manufacturer HTC, claiming that HTC infringed upon its patents. Then, in May of 2010 HTC filed a counter-lawsuit against Apple and requested that all iOS devices stop being sold for the time being. Bloomberg is now...
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Ladenburg Thalmann Reiterates Aqua America Buy, $25 PT
Monday, July 11, 2011 - 10:56am | 145Ladenburg Thalmann reiterated its Aqua America (NYSE: WTR) Buy rating and $25 price target in a research report published today. In the report, Ladenburg Thalmann states, "This morning, Aqua announced two simultaneous transactions in which the company will acquire all of American Water's Ohio...
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PPL Names Humana Executive to Its Board of Directors
Monday, July 11, 2011 - 8:39am | 126PPL Corporation (NYSE: PPL) announced Monday (7/11) that Venkata Rajamannar Madabhushi, "Raja Rajamannar," senior vice president & chief innovation and marketing officer for Humana Inc., will join its board of directors, effective July 11. Rajamannar has more than 25 years of wide-ranging...
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Jefferies Reiterates Buy on El Paso Electric Company, Raises PT to $37.50
Monday, July 11, 2011 - 8:21am | 47Jefferies reiterated its Buy rating on El Paso Electric Company (NYSE: EE). At the same time, Jefferies raised its price target on the company's stock from $34 to $37.50. On Friday, EE lost 0.62% of its value to finish the day at $33.39.
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American Water to Expand in New York
Monday, July 11, 2011 - 8:04am | 92American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, announced today that it has agreed to purchase Aqua America Inc.'s regulated operations in New York. American Water will also sell its regulated operations in Ohio to Aqua...
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Goldman Sachs Lowers 2Q11 EPS On Pinnacle West Capital To $0.88
Monday, July 11, 2011 - 7:40am | 59According to Goldman Sachs, Pinnacle West Capital (NYSE: PNW) 2Q11 EPS is lowered to $0.88 from $0.92. Goldman Sachs said that its 12-month P/E-based price target of $44 implies only 3% total return. “We see more upside to Buy-rated GXP and EE among small/mid cap peers.” Pinnacle West Capital...
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Citi Maintains Buy Rating On Westar
Monday, July 11, 2011 - 7:20am | 57According to Citi, Westar Energy (NYSE: WR) Buy rating is maintained. Citi said that it is shifting its valuation methodology to 2013, introducing new 2013 EPS estimate and making adjustments to its 2011 and 2012 EPS outlooks. “Our partial year discounted TP increases to $29/share from $27/share...
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Citigroup Raises PT On Westar Energy To $29
Monday, July 11, 2011 - 6:48am | 26Citigroup has raised the price target on Westar Energy (NYSE: WR) from $27 to $29 and maintains its Buy rating.
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Jefferies Raises PT On El Paso Electric Company To $37.50
Monday, July 11, 2011 - 6:18am | 29Jefferies & Company has raised the price target on El Paso Electric Company (NYSE: EE) from $34 to $37.50 and maintains its Buy rating.
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Merger Arbitrage Mondays – July 11, 2011
Monday, July 11, 2011 - 4:15am | 4992Merger activity decreased last week with three new all-cash deals announced and four closing. You can find all the active deals listed below in our Merger Arbitrage Tool that automatically updates itself during market hours. Deal Statistics: Total Number of Deals Closed in 2011 121 Total...
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Coal Generators Power Struggle: Consumers To Foot The Electric Bills?
Sunday, July 10, 2011 - 12:30am | 1905By EconMatters Utility giant American Electric Power (AEP) sent shock wave last week by suggesting consumers could see their electricity bills jump an estimated 40-60% in the next few years. AEP is one of the country's largest investor-owned utilities, serving parts of 11 states with more than 5...
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Top Stocks Selling Below Book Value
Sunday, July 10, 2011 - 12:12am | 380The book value of a stock, in simple terms, is what you get when you sell off all the corporations assets, pay off all the debts, and divide up what is left among the shareholders. Therefore, if you are buying a stock at a price below book value, you are getting a pretty good value. There are many...
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Hottest and Coldest Sectors for Friday 7/8/11
Friday, July 8, 2011 - 5:24pm | 1918The S&P 500 lost 9.4 points, or 0.7%, in Friday's trading session, as a weaker-than-expected jobs report put an end to the recent market rally. The SPX is now 26.78 points lower than its 52-week high of 1370.58, which was set on May 2nd. The Sector breakdown for Friday's session is as follows...
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PNM Resources' Texas Utility Receives Approval for Smart Meters
Friday, July 8, 2011 - 3:34pm | 85PNM Resources' (NYSE: PNM) transmission and distribution utility in Texas, TNMP, today received regulatory approval to recover the costs of installing an Advanced Metering System throughout its service area. The unanimous approval by the Public Utility Commission of Texas is based on an agreement...