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The AES Corporation (AES)

  • Thu, Nov. 5, 3:58 PM
    • AES Corp. (AES -8.7%) plunges nearly 9% after the electricity producer and distributor missed expectations for Q3 revenues by $1.5B and cut its 2015 earnings guidance and set its 2016 earnings guidance below estimates.
    • AES lowered its full-year 2015 EPS to $1.18-$1.25 from its previous outlook of $1.25-$1.35, and sees 2016 earnings of $1.05-$1.15 as it cites unfavorable exchange rates, volatile commodities prices and weak demand in Brazil; analysts had estimated EPS of $1.27 for 2015 and $1.30 for 2016.
    • AES says it is launching $150M in cost reduction and revenue enhancement initiatives that it says will offset most of its headwinds by 2018.
    | Thu, Nov. 5, 3:58 PM | 2 Comments
  • Tue, May 12, 5:54 PM
    • AES Corp. (NYSE:AES) -3.3% AH after announcing a secondary public offering of 60M common shares by a subsidiary controlled by China Investment Corp., and the concurrent repurchase of 20M shares.
    • Following completion of the offering, AES expects that the selling stockholder will have fully sold its stake in the company.
    | Tue, May 12, 5:54 PM | Comment!
  • Wed, Apr. 22, 3:10 PM
    • Norges Bank Investment Management, the pension fund fueled by Norway's oil revenue, says it will oppose power company AES Corp. (AES +1.6%) on four corporate governance proposals.
    • The fund says it will support a proxy access proposal to let big shareholders list competing board candidates on official AES corporate ballots, as well as a proposal to let holders of at least 20% of the company's shares call a special shareholder meeting.
    • The proposal furthers a movement that has gained steam as several major companies have granted the power to shareholders that could open the way to more fights over board seats.
    | Wed, Apr. 22, 3:10 PM | Comment!
  • Aug. 6, 2012, 3:59 PM
    AES Corp. (AES -4.5%) shares languish after Q2 earnings at the power and utilities company tumbled 20% with a double-digit decline in revenue from its key Latin American utilities business. AES says it expects EPS for the year to come in at the low end of its May guidance.
    | Aug. 6, 2012, 3:59 PM | Comment!
  • Feb. 13, 2012, 3:59 PM
    UBS starts coverage on AES Corp. (AES +1.9%) with a Buy rating and $15 price target, noting it expects the operator of utilities and wholesale power generators to "handsomely outperform its commodity-driven peers in the near term," as recently-appointed CEO Andres Gluski seeks to trim less profitable businesses and aggressively cut costs.
    | Feb. 13, 2012, 3:59 PM | Comment!
  • Jan. 23, 2012, 8:53 AM
    Natural gas producers are sharply higher premarket in the wake of Chesapeake's (CHK +5.4%) production cutback and a spike in prices. Quicksilver (KWK +4.9%), EXCO (XCO +4.3%), Range Resources (RRC +2.7%), Cabot (COG +2.9%).
    | Jan. 23, 2012, 8:53 AM | 5 Comments
  • Jan. 17, 2012, 10:46 AM
    The continuing decline in natural gas (off 6.9% today) and resultant fall in electricity prices is shelving alternative energy projects from NextEra (NEE), Exelon (EXC), and CMS, but Michael Morris of American Electric Power (AEP) warns about becoming too dependent on gas. "The way to make $4 gas, $8 gas is for everyone to go out and build ... natural-gas plants."
    | Jan. 17, 2012, 10:46 AM | 5 Comments
  • Jul. 8, 2011, 9:01 AM
    Telecom Italia (TI -3.3%) is acquiring Brazilian fiber optic network owner AES Atimus, a unit of American power company AES, for approximately $1B. Telecom Italia, which already controls Brazil's 3rd-largest wireless carrier, expects the AES Atimus deal to "provide savings worth 1 billion Brazilian reais [$641M] over three years."
    | Jul. 8, 2011, 9:01 AM | Comment!
Company Description
The AES Corporation is a power generation and utility company. The Company operates in two business lines; Generation & Utilities; through its six market-oriented Strategic Business Units in United States, Andes, Brazil, MCAC, EMEA and Asia.
Sector: Utilities
Country: United States