Constellation Energy Group Inc. (CEG) and EDF Development Inc. recently announced that the U.S. Nuclear Regulatory Commission (NRC) has approved the investment structure and license transfer related to EDF’s investment in Constellation Energy Nuclear Group LLC. EDF Development Inc. -- the wholly owned subsidiary of French energy major EDF S.A. -- is planning to acquire 49.99% stake in Constellation Energy’s nuclear assets for $4.5 billion. Subsequently, EDF’s interest in Constellation Energy Nuclear Group will be structured as a new joint venture between the companies. The deal has received the necessary federal approvals and clearance from the New York Public Service Commission. However, regulatory approval from the Public Service Commission in Maryland is pending. A final decision will be taken by the Maryland Public Service Commission in October 2009. Constellation Energy is pursuing the divestment of its nuclear assets to improve liquidity position and strengthen balance ...

Constellation Energy Group Inc. (CEG) is focused on improving its liquidity position and strengthen its balance sheet. The company was able to reduce its total debt level from $8.5 billion at year-end 2008 to below the $7 billion mark after the first half of fiscal 2009. The debt-loaded company with a debt-to-equity ratio of 134.6% after the first half of fiscal 2009 dished out $143.9 million in interest expenses during the recent second quarter of 2009 compared to only $78.8 million in the year-ago quarter. The pain may get even worse with the July 2009 downgrade by Fitch Ratings, bringing Constellation Energy's senior unsecured debt rating from BBB to BBB- and BGE's (Baltimore Gas & Electric) senior unsecured debt rating from A- to BBB+. With more than $1.5 billion of debt lined up for maturity this fiscal year, the company may have to resort to ...

PG&E Corp.’s (PCG) second-quarter earnings of 83 cents per share stopped a penny short of the Zacks Consensus EPS estimate. However, it surpassed the year-ago profit of 80 cents a share. Also, quarterly GAAP EPS rose to $1.02 boosted by tax refund and recovery of Hydro divestiture costs, compared to 80 cents in the year-ago period.

San Francisco, California-based PG&E’s earnings grew 32% to $388 million due to one-time gains and higher power rates. Operating income grew 12% to $656 million but revenue fell to $3.19 billion from $3.58 billion year over year. Revenue for both electricity and natural gas was down.

The quarter-over-quarter increase in earnings from operations was due to higher authorized revenue on superior capital investments in improvement of utility infrastructure. This was partially offset by expenses for environmental remediation activities.

PG&E raised long-term debt of $2.2 billion in 2008 and $1.2 billion in 2007

...

PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Wednesday August 5, 2009

PennyOmega.com Stock Report!

**************************************************************

Options traders made a mad dash for Chesapeake Energy Corporation (NYSE: CHK) calls on Tuesday, after the firm reported a stronger-than-expected second-quarter profit. According to data from WhatsTrading.com, the natural gas concern saw almost 33,500 calls cross the tape, more than doubling its average single-session volume of fewer than 13,900 contracts. Most popular was the August 23 call, which saw roughly 12,400 contracts change hands.

Seeger Weiss LLP announced today a $41.5 million settlement with Merck & Co., Inc. (NYSE:MRK) and Schering-Plough Corporation (NYSE:SGP) resolving nationwide fraud claims arising out of the sale and marketing of the companies’ co-ventured prescription

...

DrStockPick.com Stock Report!

Wednesday August 5, 2009

**************************************************************

The Procter & Gamble Company (NYSE:PG) announced diluted net earnings per share for the fiscal year ending June 30, 2009 of $4.26, up 17 percent and exceeding the Company’s guidance range of $4.20 to $4.25. Core EPS, which excludes the current year impact from the sale of the Folgers business and certain tax adjustments in the prior fiscal year, increased eight percent versus fiscal 2008. For the April - June quarter, diluted net earnings per share were $0.80, above the Company’s guidance range of $0.74 to $0.79 for the quarter.

China Nepstar Chain Drugstore Ltd. (NYSE: NPD), the largest drugstore chain in China based on the number

...

DAVIS, CA — (Marketwire) — 07/09/09 — Octus Energy (OTCBB: OCTI) today announced the addition of two energy industry executives to its management team, strengthening the company’s commercialization of the Octus Smart Energy Platform (OctusSEP). Joining the company are Tobin J.M. Richardson as Senior Advisor, Energy Markets, and Siva Gunda as Senior Engineer, Smart Energy Solutions.

“Smart energy is a dynamic space, and Tobin and Siva are dynamic energy industry executives,” said Chris Soderquist, Octus CEO. “They bring a wealth of relevant, seasoned and contemporary experience and relationships to Octus that we believe will catalyze commercialization of OctusSEP and spring innovation within the company.”

Richardson has 15 years’ experience in strategy and business development with energy and technology companies. He is Director of the ZigBee Smart Energy Initiative, where he drives adoption of energy efficiency technology in key smart energy markets. In 2008, Richardson directed Pacific Gas and Electric Company’s

...

Going forward, as the utility continues to focus primarily on regulated utility operations, positive investment factors for PG&E (PCG) including favorable decisions from the CPUC and FERC such as a CPUC authorized 11.35% ROE until 2010, long-term supply agreements, diversification into alternative power sources and infrastructure improvement programs such as the Cornerstone-Smart Meter-Tesla generating station, long-term supply agreements, diversification into alternative power sources and an increased dividend may be partially offset by risks including rising natural gas prices, increased purchased power costs, earnings dilutive stock issuances, and an over-leveraged balance sheet.PG&E reported financial results for the 1st quarter and year ended March 31, 2009. In the reported quarter, GAAP net income after dividends on preferred stock was $241 million, or $0.65 per share, up from the same period last year when net income after dividends on preferred stock was $224 million, or $0.62 per ...

SAN FRANCISCO, April 17 2009 -- Pacific Gas and Electric Company (PGE), a subsidiary of PGE Corporation (NYSE:PCG), today announced the appointment of John T. Conway to head the utility's newly created Energy Supply organization. Conway will now lead PGE's previously separate power generation and power procurement functions as Senior Vice President, Energy Supply, and Chief Nuclear Officer.