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FirstEnergy Corp.

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FirstEnergy Corp.
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$

37.48

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Volume 58,821

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$ 37.48

$ 37.48

Change

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$36.51

$37.71

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$22.85

$44.10

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10:06 a.m. Feb. 18, 2021 - By Tomi Kilgore
FirstEnergy's stock surges to lead S&P 500 gainers after Icahn discloses plan to buy a stakeShares of FirstEnergy Corp. shot up 9.5% toward a seven-month high in afternoon trading Thursday, enough to space the S&P 500's gainers, as investors seemed to focus more on billionaire activist investor Carl Icahn's plan to buy a stake in the electric utility than on the company's profit and revenue miss. The company disclosed in its 10-K filing with the Securities and Exchange Commission that it was notified that Icahn "has a present good faith intention to acquire voting securities" of the company, in an amount somewhere between $184 million and $919.9 million. The company said it didn't know if Icahn had already acquired shares or derivatives to buy shares, and doesn't know Icahn's intentions. Separately, the company reported fourth-quarter net earnings of $242 million, or 45 cents a share, after a loss of $111 million, or 20 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of 32 cents was below the consensus analyst estimate of 47 cents, according to FactSet. Revenue fell 7.4% to $2.5 billion, below the FactSet consensus of $2.9 billion. FirstEnergy's stock has tumbled 33.1% over the past 12 months, while the SPDR Utilities Select Sector ETF has lost 11.8% and the S&P 500 has gained 16.2%.
12:44 p.m. Sept. 19, 2020 - By Philip van Doorn
It’s time for income-seeking investors to take a fresh look at these 28 utility stocks Despite high yields and a record of maintaining and raising dividend payouts, the S&P 500 utilities sector is down this yearDespite high yields and a record of maintaining and raising dividend payouts, the S&P 500 utilities sector is down this year.
11:00 a.m. Sept. 2, 2020 - By Tomi Kilgore
Utilities sector in broad rally as Treasury yields extend declines after downbeat economic data The utilities sector was enjoying a unanimous rally Wednesday, as downbeat jobs data helped push Treasury yields toward a fourth-straight decline. The SPDR Utilities Select Sector ETF surged 3.0% in afternoon trading, enough to make it the strongest of the SPDR ETFs tracking the S&P 500's 11 key sectors. All 28 of the ETF's (XLU) equity components were gaining ground, led by shares of Exelon Corp. , up 4.6%, NiSource Inc. up 4.2% and NextEra Energy Inc. , up 4.0%. Among the XLU's other more-active members, shares of First Energy Corp. rallied 3.1%, PPL Corp. tacked on 3.9% and AES Corp. advanced 1.0%. The utilities sector is often treated at a bond proxy, given its stable earnings and relatively high yield. The XLU's dividend yield is 3.22%, above the implied yield for the S&P 500 of 1.58%. Meanwhile, the yield on the 10-year Treasury note fell 2.3 basis points to 0.649%, and was heading for a fourth-straight decline, after ADP said , but that was well below expectations of an increase of 1 million jobs. In addition, the indicated that the economy slowed in many parts of the economy.
5:27 a.m. Aug. 11, 2020 - By Philip van Doorn
After 150 days of the COVID-19 pandemic, here are the best- and worst-performing stocks The tech sector is still in the lead, but consumer-discretionary group trails only slightlyThe tech sector is still in the lead, but consumer-discretionary group trails only slightly.
3:19 a.m. July 27, 2020 - By Tomi Kilgore
S&P 500 earnings have been as bad as feared, even as the beat rate has improved Next week could turn the earnings tide in either direction, as more than a third of S&P 500 companies will report resultsCompanies are beating expectations at a relatively good pace, but investors shouldn’t take that to mean earnings season has been better feared, with the year-over-year decline in profit and sales roughly the same as it was before the season kicked off.
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