Constellation Energy will continue to pursue deals to develop data centers on the sites of its U.S. power plants, days after federal regulators dealt a blow to the so-called co-located arrangements, company executives said on Monday.
The biggest argument in favor of Constellation Energy stock just became a liability.
Shares of Constellation Energy (CEG) tumbled Monday morning despite an earnings beat as a recent regulatory decision dragged nuclear energy stocks.
Shares of Constellation Energy Corp. were in danger of a record selloff on Monday and were headed for their lowest prices since before the nuclear-power company signed a 20-year power-purchasing agreement with Microsoft Corp. in September.
Constellation Energy Corporation (CEG) came out with quarterly earnings of $2.74 per share, beating the Zacks Consensus Estimate of $2.72 per share. This compares to earnings of $2.26 per share a year ago.
U.S. stock futures were slightly higher this morning, with the Dow futures gaining around 0.1% on Monday.
Electric utility Constellation Energy raised its full-year profit forecast and beat Wall Street estimates for third-quarter earnings on Monday, helped by higher power demand.
CEG's third-quarter earnings are likely to have gained from its efficiently performing nuclear fleet and strong demand from industrial customers.
The latest trading day saw Constellation Energy Corporation (CEG) settling at $261.92, representing a -1.16% change from its previous close.
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Constellation Energy Corporation (CEG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Who says utility stocks are boring defensive investments that can't surge in parabolic fashion?