Constellation Energy (CEG) shares could remain in focus on Monday after surging more than 25% Friday as the energy giant announced that it will acquire rival Calpine in a deal valued at $26.6 billion.
Utility stocks certainly have their place in some investors' portfolios. But let's face it -- they're not high-growth tickers.
Constellation stock is up! No, it's down!
Why Constellation Energy Stock Soared 22% on Friday
Constellation Energy is one of the best S&P 500 stocks Friday after the utility said it will buy Calpine in a cash-and-stock deal valued at $26 billion.
Joseph Dominguez, Constellation Energy CEO, joins 'Squawk on the Street' to discuss the company's acquisition of Calpine, the chief executive's confidence in the deal and more.
Constellation Energy (CEG) shares surged Friday after the company agreed to buy private energy company Calpine in a deal valued at $26.6 billion that it said will create the largest clean energy provider in the U.S.
Takeover combines electricity generators to become largest independent US power provider, with 2.5 million customers
The deal creates the nation's largest producer of clean energy.
Constellation Energy's deal to buy Calpine is being driven by fast-rising demand for electricity by the technology industry.
Constellation Energy said on Friday it would buy privately held Calpine Corp, a geothermal and natgas energy company, in a cash-and-stock deal valued at $26.6 billion including debt.
The merger combines two of the country's largest power generators as demand for electricity surges.