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Exelon Swings to 1st-Quarter Loss on Mark-to-Market Expenses

Exelon Corp. (EXC) swung to a first-quarter loss as the electric-and-gas utility posted significant mark-to-market charges, though revenue rose sharply.Exelon is the largest owner and operator of nuclear-power plants in the U.S. It owns three utilities and a large retail power provider but its largest business is operating power plants across the U.S. and selling the electricity on the wholesale market. The company's profits have declined in recent quarters as historically low U.S. natural-gas prices have forced wholesale-power prices lower and as U.S. electricity demand has remained relatively weak.Exelon, of Chicago, in February decided to trim its quarterly dividend by 41%, due in part to expectations that low U.S. power prices could continue longer than it had anticipated.The company acquired Constellation Energy Group last year in an $8 billion all-stock deal that added a growing retail-power business in states such as Texas, New Jersey and Pennsylvania. Exelon is also looking for...

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  1. Exelon 3rd-Quarter Profit Fell 51%; Boosts '12 Earnings View

    Exelon Corp.'s (EXC) third-quarter earnings fell 51% as the electric-and-gas utility posted weaker energy margins at its generation operations, as well as an increas...

  2. U.S. regulator seeks $470 million from Barclays

    (Advisory: Contains language that may offend in paragraph seven)U.S. regulators threatened to fine Barclays roughly $470 million to settle allegations that the bank ...

  3. U.S. power market watchdog seeks record $470 million from Barclays

    (Advisory: Contains language that may offend in paragraph 7)U.S. regulators threatened to fine Barclays roughly $470 million to settle allegations that the bank and ...

  4. US power market regulator seeks $470 million from Barclays

    U.S. federal energy regulators threatened to fine Barclays roughly $470 million to settle allegations that the bank and four traders manipulated California energy ma...

  5. Barclays Hit by New U.S. Investigations

    Barclays, already rocked by an interest rate rigging scandal, unveiled new U.S. regulatory investigations into the bank's financial probity on Wednesday and said its...

  6. JPMorgan apologizes to power regulator for misleading information

    JPMorgan Chase & Co apologized to the U.S. energy regulator on Thursday for providing misleading information about California electricity markets, saying it was inad...

  7. Solar Company Sees 23,577% Revenue Growth in Past Three Years

    Astrum Solar President Vadim Polikov on the factors driving the solar company’s huge growth.

  8. One Reactor at Calvert Cliffs Nuclear Plant in Maryland Closed -Baltimore Sun

    One of two nuclear reactors at the Calvert Cliffs power plant in Maryland was shut down by its operator after a control rod fell into the reactor core and power gene...

  9. Exelon To Sell 3 Maryland Plants To Raven Power for $400 Million

    Exelon Corp. (EXC) will sell its three Maryland coal-fired power plants to Raven Power Holdings LLC, a new portfolio company of Riverstone Holdings LLC, for $400 mil...

  10. Energy Sector Wrap

    On a trading day that saw the S&P 500 gain 2%, the Energy sector (XLE) showed little change.Oxford Resource Partners (NYSE:OXF) was one of the sector's big losers, a...

  11. NRG Energy, GenOn Shares Up on Merger Deal

    NRG Energy Inc.'s (NRG) plan to acquire rival GenOn Energy Inc. (GEN) in a $1.7 billion all-stock deal appeared to resonate with investors Monday, as both companies'...

  12. Judge to JPMorgan: Why are You Withholding Emails?

    A U.S. judge has ordered JPMorgan Chase & Co (NYSE:JPM) to explain why the court should not force the bank to turn over 25 internal emails demanded as part of an inv...

  1. Financial News: Trio buck trend as commodities revenues dip

    Of FINANCIAL NEWSLONDON--Just three commodities desks from 10 of the largest investment banks increased revenues in 2012, according to a JP Morgan report, as new reg...

  2. U.S. NRC Members Feel Heat From Congress Over Safety Mandate

    The U.S. Nuclear Regulatory Commission faced pressure from Republicans and Democrats Thursday to soften a potentially expensive new mandate for aging nuclear power p...

  3. Exelon Cuts Dividend, 4th-Quarter Profit Falls 38%

    Exelon Corp. (EXC) said it was cutting its quarterly dividend as the U.S. power giant continued to struggle against low prices and saw its fourth-quarter earnings fa...

  4. Exelon 4th-Quarter Net Falls 38% on Higher Costs; Cuts Dividend

    Exelon Corp.'s (EXC) fourth-quarter earnings fell 38% amid a sharp rise in operating costs, while its revenue growth fell short of expectations.The electric-and-gas ...

  5. U.S. Nuclear Regulators Divided on Costly Fukushima Rule

    The U.S. Nuclear Regulatory Commission appeared divided Wednesday over whether to mandate safety improvements at U.S. nuclear power plants that could cost hundreds o...

  6. Exelon to Pay $400,000 in Settlement With Justice Department

    Exelon Corp. (EXC) agreed to pay $400,000 to settle alleged violations of two court orders related to its acquisition of Constellation Energy Group earlier this year...

  7. Analysis: Barclays set to fight FERC over bragging, not rigging

    British bank Barclays is set to fight a potentially record $470 million penalty from U.S. energy regulators by arguing its traders were guilty of braggadocio, not of...

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