Market Currents

• Friday, December 11, 2009

• 12:43 PM Maybe it's the holiday spirit, but Michelle Leder finds an 8-K rarity: top executives agreeing to give up change-in-control payments, at Constellation Energy (CEG). In this case the execs gave up three years of compensation and benefits; how rare is it? By contrast, Ross Perot held onto $3.9M in payments on top of the $1B he got for stock once Dell (DELL) completed its deal to buy Perot Systems. Comment!

• Friday, October 30, 2009

• 11:29 AM State-owned nuclear power operator EDF is facing pressure from the French government to abandon its $4.5B deal to buy 49.9% of Constellation Energy Group's (CEG +2.3%) nuclear assets and build four reactors together. Comment!
• 06:15 AM Constellation Energy Group (CEG): Q3 EPS of $1.23 beats by $0.16. Revenue of $4.03B vs. $4.48B. Sees full-year EPS of $3.25-3.45 vs. consensus of $3.10. (PR) Comment!
• 00:05 AM Notable pre-market earnings: ACI, AEE, AIV, ALU, AOC, AXL, CEG, CMC, CMI, CMS, CVH, CVX, D, DUK, EL, ITT, NI, NYX, PAG, PGN, REG, SHPGY, SNE, SPG, THI, UPL, WY, YRCW Comment!

• Friday, July 31, 2009

• 07:52 AM Constellation Energy Group (CEG): Q2 EPS of $1.08 beats by $0.32. Revenue of $3.86B (-18.8%) vs. $3.57B. Sees full-year EPS of $3.10-3.30 vs. $3.01 consensus. (PR) Comment!
• 00:05 AM Notable earnings before Friday's open: AEP, AGN, AIV, AN, CEG, CVX, D, ITT, PEG, PKD, SRE, TOT, WY Comment!

• Tuesday, May 5, 2009

• 06:42 AM Constellation Energy Group (CEG): Q1 EPS of $0.74 beats by $0.04. Revenue of $3.1B (-16.2%) vs. $4.4B. (PR) Comment!
• 00:05 AM Notable earnings before Tuesday's open: ADM, ADP, ALU, AVP, AYE, BAM, CBB, CEG, CTSH, CVS, DNR, DRH, DUK, EMR, FCL, FE, HEW, HNT, ICE, JOE, KFT, LM, LPX, MAC, MVL, PAG, PCP, PGN, PNW, PQ, RDN, SE, SRE, TAP, TEVA, UNT, VRX, VTR, WEC, WTI, WY, WYNN, XEC
    Comment!

• Wednesday, February 18, 2009

• 06:11 AM Constellation Energy Group (CEG): Q4 EPS of $0.03 misses by $1.21. Revenue of $4.9B (-7.9%) vs. $5.9B. (PR) Comment!
• 00:05 AM Notable earnings before Wednesday's open: CEG, CMCSA, DE, GT, HST, INCY, OMX, STP, XEC Comment!

• Thursday, December 18, 2008

• 09:00 AM Premarket losers: TTWO -21%. ATHR -10.5%. AWC -8%. CRL -8%. HBC -7%. WFR -7%. RBS -7%. CEG -6%. BCS -5%. AEM -4%. Comment!

• Wednesday, December 17, 2008

• 10:42 AM Terminating its deal with MidAmerican (BRK.A) will not be cheap for Constellation Energy Group (CEG). $175M cash; a $1B note at 14% maturing at the end of 2009; 10% of CEG's shares; and another $418M. Whoa. Comment!
• 10:40 AM It's official: EDF to acquire 50% of Constellation Energy Group's (CEG) nuclear business for $4.5B, including $1B in cash. CEG still halted. Comment!
• 10:26 AM French utility giant EDF has reached a deal to acquire 50% of Constellation Energy Group's (CEG) nuclear operations, which now hinges on EDF's bank signing off. A deal would quash MidAmerican Energy's (BRK.A) earlier bid for the entire company. For now, shares of CEG are halted, pending news. Comment!

• Tuesday, December 16, 2008

• 06:45 AM Electricite de France nears a deal to buy Constellation Energy (CEG) for $4.5B, stealing the deal from MidAmerican Energy (BRK.A). Sources say CEG's board may approve the EDF deal this week, despite the hefty termination fee MidAmerican would take. Comment!

• Wednesday, December 3, 2008

• 09:21 AM Premarket gainers: GW +22%. CEG +21%. WAG +17%. MRVL +11.8%. ETP +4.8%. Comment!