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Cleco Announces Redemption of 4.5% Preferred Stock
Monday, May 23, 2011 - 4:30pm | 121Cleco (NYSE: CNL) today announced that it has called for redemption all 10,288 outstanding shares of its 4.5% Preferred Stock. The redemption date for the 4.5% Preferred Stock is June 24, 2011, and the redemption price is $101.00 per share, plus accrued and unpaid dividends to the redemption date,...
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Bank of America Downgrades Consolidated Edison to Underweight
Monday, May 23, 2011 - 9:10am | 132Bank of America downgraded Consolidated Edison (NYSE: ED) from Neutral to Underweight. In a research report published today, Bank of America states, "We are downgrading Consolidated Edison (ED) because we believe the stock is fully valued versus the market and other utilities. Moreover, the...
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Benzinga's Top Downgrades
Monday, May 23, 2011 - 8:23am | 139Analysts at Bank of America Merrill Lynch downgraded LM Ericsson Telephone Company (NASDAQ: ERIC) from “neutral” to “underperform.” ERIC's shares closed at $15.05 on Friday. Ericsson's PEG ratio is 1.72. Goldman Sachs downgraded Buckle Inc (NYSE: BKE) from “neutral” to “sell.” BKE's shares closed...
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Wunderlich Securities Comments On NRC Statement Regarding Scana
Monday, May 23, 2011 - 8:04am | 146According to Wunderlich Securities, Scana Corporation (NYSE: SCG) expectation is supported by the NRC. Wunderlich Securities said that on Friday, the Nuclear Regulatory Commission (NRC) issued a statement indicating Westinghouse must resolve some technical issues before the NRC can approve the...
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Wunderlich Securities Comments on SCANA Corporation After NRC Found Technical Problems in Westinghouse's AP1000 Nucler Design
Monday, May 23, 2011 - 7:27am | 268Wunderlich Securities commented on SCANA Corporation (NYSE: SCG) after the Nuclear Regulatory Commission found technical issues in the Westinghouse's AP1000 nuclear design. In a research report published today, Wunderlich states, "On Friday, the Nuclear Regulatory Commission (NRC) issued a...
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UPDATE: Jefferies Color on PG&E Target Decrease
Monday, May 23, 2011 - 7:19am | 125Jefferies, which downgraded shares of PG&E Corp. (NYSE: PCG) while lower its PT, is providing some color on the stock. “We were previously assuming that the company would be able to earn of some $1.5 billion of CWIP annually (which has been the average for the company in the past several years...
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Jefferies Downgrades PG&E To Hold, Lowers PT To $48.50
Monday, May 23, 2011 - 6:09am | 29Jefferies & Company has downgraded PG&E Corporation (NYSE: PCG) from Buy to Hold and has lowered the price target from $51 to $48.50.
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Wunderlich Securities Increases EPS on ITC Holdings, Maintains Hold and PT of $73
Monday, May 23, 2011 - 5:57am | 121Wunderlich Securities increased its earnings per share estimates on ITC Holdings (NYSE: ITC) for the next three years. In a research report published today, Wunderlich states, "We are raising our 2013 and 2014 EPS estimates on ITC Holdings (ITC) by $0.19 and $0.10 to $4.88 and $5.61, respectively...
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Bank of America Downgrades UIL Holdings To Underperform, Raises PO To $33
Monday, May 23, 2011 - 5:42am | 29Bank of America has downgraded UIL Holdings (NYSE: UIL) from Neutral to Underperform and has raised the price objective from $32 to $33.
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Bank of America Downgrades Consolidated Edison To Underperform, $53 PO
Monday, May 23, 2011 - 5:41am | 27Bank of America has downgraded Consolidated Edison (NYSE: ED) from Neutral to Underperform and has established a $53 price objective.
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Mad Money Lightning Round: Cramer Advises Investors To Buy Walt Disney
Monday, May 23, 2011 - 1:04am | 194On CNBC's Mad Money, Jim Cramer said during the Lightning Round that KBR (NYSE: KBR) has “got a lot of orders on the books, but let's wait until it drops to $30." Cramer said that Walt Disney (NYSE: DIS) is a “must buy stock.” He added, “It didn't do well because of theme park attendance. Gas is...
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Constellation Energy names Michelle McKenna Chief Information Officer
Friday, May 20, 2011 - 9:35am | 74Constellation Energy (NYSE: CEG) today announced that it has named Michelle Robinette McKenna chief information officer. Most recently, McKenna served as president of Vision Interactive Media Group in Orlando, Fla. In her role as CIO, McKenna will work with the IT leadership team to continue...
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Benzinga's Top Upgrades
Friday, May 20, 2011 - 8:15am | 134Piper Jaffray upgraded Sprint Nextel Corp (NYSE: S) from “neutral” to “overweight.” Sprint Nextel's shares closed at $5.33 yesterday. Sprint Nextel's trailing-twelve-month revenue is $32.79 billion. Analysts at Citigroup upgraded AES Corporation (NYSE: AES) from “hold” to “buy.” AES' shares closed...
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UPDATE: Bank of America Merrill Lynch Raises PO on Alliant Energy to $41
Friday, May 20, 2011 - 8:10am | 142Bank of America Merrill Lynch is out with its report today on Alliant Energy (NYSE: LNT), raising its PO from $38 to $41. In a note to clients, Bank of America Merrill Lynch writes, "We are boosting our price objective on LNT to $41 from $38 as we are shifting our valuation to reflect the 2013...
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Update: Citi Upgrading The AES Corp
Friday, May 20, 2011 - 7:48am | 104Citi Investment Research is upgrading shares of The AES Corp (NYSE: AES) to Buy, and it is raising its price target to $16 from $14. In a note to clients, Citi writes, "Our target price is now $16 from $14, predicated on a 11.3x target multiple, plus $1.76/share of value for NOLs, the DPL...