Exelon Agrees to Settlement and 2 Stocks Falling to 52-Week Lows
Entergy Corp. (NYSE:ETR): An announcement from the United States Department of Justice has opened the way for the purchase of the Hot Spring and Hinds power plants from units of KGen Power Corporation by two Entergy utility subsidiaries, this paves the way for both transactions to close by the end of 2012. The transactions have already received the necessary regulatory approvals from the Federal Energy Regulatory Commission and applicable state utility commissions to close. Entergy Arkansas, Inc. will be acquiring the 620-megawatt Hot Spring plant from KGen Hot Spring LLC. The total expected cost is $277 million. The combined-cycle natural gas-fired plant, which started commercial operations in 2002, is located in Hot Spring County, Arkansas. Entergy Mississippi, Inc. is buying the 450-megawatt Hinds plant from KGen Hinds LLC. The total expected cost is $246 million. The Hinds plant, also a combined-cycle natural gas-fired unit, began operations in 2001 and is located in Jackson, Miss. Their shares closed at $63.00, down $0.35 or 0.55% on the day. They have traded in a 52-week range of $62.97 to $74.50.
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Exelon Corp. (NYSE:EXC): According to the Justice Department, Exelon Corp. has consented to pay $400,000 as part of a civil settlement with the Department of Justice that resolves Exelon’s alleged violations of two court orders entered in connection with Exelon’s acquisition of Constellation Energy. Their shares closed at $29.37, up $0 or 0% on the day. They have traded in a 52-week range of $30.55 to $44.74.
Molycorp Inc (NYSE:MCP): According to a translation of a Chinese language report, Dongxing Securities stated that Molycorp Inc.’s Mountain Pass mine will begin production by the end of 2012. Their shares closed at $6.06, down $0.12 or 1.94% on the day. They have traded in a 52-week range of $6.61 to $35.79.
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