PNM Resources (PNM +16.8%) shares soar after the New Mexico electricity distributor agrees to...

|About: PNM Resources, Inc. (PNM)|By:, SA News Editor

PNM Resources (PNM +16.8%) shares soar after the New Mexico electricity distributor agrees to sell its First Choice Power subsidiary for $270M, and will sell its stake in Optim Energy, exiting its Texas businesses. The company says it plans to use the money to buy back debt and its stock. (PR)