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Shares of Exelon Corp. and Pepco Holdings Inc. rose Monday, after the utilities companies proposed moves that might appease regulators and secure approval of Exelon’s acquisition of Pepco. After the stocks resumed trading, following halts for news, Exelon’s climbed 1.5% and Pepco’s tacked on 1%. In October, the companies had reached an agreement with the Public Service Commission of the District of Columbia in which $25.6 million would be set aside to offset residential customer rate increases. On Monday, the companies proposed a $45.6 million fund, including an additional $20 million set aside for rate credits, low-income customer assistance or grid modernization. “This alternative proposal provides flexibility in determining a path forward for the merger, addressing the guidance the Commission provided in its order and the desire to protect District residents, including those most in need, from rate increases,” said Exelon Chief Executive Chris Crane. The merger was originally announced in April 2014. Last Tuesday, Pepco’s stock tumbled 13% after a rate-payer group in DC said they opposed a merger. Exelon’s shares have run up 22% year to date, while Pepco’s has dropped 6.5% and the S&P 500 Index has declined 3.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Exelon Corp. and Pepco Holdings Inc. rose Monday, after the utilities companies proposed moves that might appease regulators and secure approval of Exelon’s acquisition of Pepco. After the stocks resumed trading, following halts for news, Exelon’s climbed 1.5% and Pepco’s tacked on 1%. In October, the companies had reached an agreement with the Public Service Commission of the District of Columbia in which $25.6 million would be set aside to offset residential customer rate increases. On Monday, the companies proposed a $45.6 million fund, including an additional $20 million set aside for rate credits, low-income customer assistance or grid modernization. “This alternative proposal provides flexibility in determining a path forward for the merger, addressing the guidance the Commission provided in its order and the desire to protect District residents, including those most in need, from rate increases,” said Exelon Chief Executive Chris Crane. The merger was originally announced in April 2014. Last Tuesday, Pepco’s stock tumbled 13% after a rate-payer group in DC said they opposed a merger. Exelon’s shares have run up 22% year to date, while Pepco’s has dropped 6.5% and the S&P 500 Index has declined 3.8%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Don’t judge a market solely by its indexes, as most stocks trading on the Nasdaq exchange are rising even though the Nasdaq Composite Index is falling more than the other major market indexes in morning trade Monday. Nasdaq stocks that are gaining ground outnumbered decliners by a score of about 1,558 to 868, according to FactSet, while the Nasdaq Composite was down 0.6%. There were similar divergences last week, when the major market indexes were down but breadth was positive, and eventually the indexes bounced to close higher. Since the technology-friendly index is weighted by market-capitalization, that suggests that on balance, larger-cap Nasdaq stocks are weak relative to smaller-cap stocks. To support that point, the Russell 2000 index of small-cap stocks was running up 0.5%, while the S&P 500 Index of large-cap stocks was down 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stocks opened lower Monday, on track to snap a three-day winning streak, as stocks take a breather after climbing to two-month highs late last week. The S&P 500 dropped 8 points, or 0.5%, to 1,991.26. The Dow industrials fell 44.11 points, or 0.3%, to 16,959.46, while the Nasdaq Composite shed 25.37 points, or 0.5%, to 4,692.30.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

ComScore Inc.’s stock dropped 6.8% in premarket trade Monday, after the audience measurement services company said it will miss the deadline to file its annual report, and that it would suspend its dividend. The company’s audit committee, which the ComScore had previously said was looking into “certain potential accounting matters,” determined over the weekend that it will not complete its review in time to have the company file its Form 10-K annual report before the extended deadline of March 15. Because of the ongoing review, the company said it would postpone its investor day, previously scheduled for March 16, and suspend its share repurchase program. The company had announced on Feb. 17 that it would buy back up to $125 million worth of its stock. ComScore shares had slumped 6.1% over the past three years, while the S&P 500 have slipped 3.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of AMC Networks Inc. saw a more than 1% pop in premarket trade Monday after the company’s board of directors pushed through a share buyback program of up to $500 million. The network behind TV hits such as, “The Walking Dead” and “Better Call Saul” said the timing and amount of any buybacks has yet to be determined, but it will evaluate market conditions and share price, along with other factors. AMC also said there is no established closing date and the buyback program can be suspended or discontinued at any time. The Wall Street Journal reported this is AMC Networks’ first buyback program since being spun off from Cablevision Corp. in 2011. AMC Chief Executive Josh Sapan said in a statement the buyback shows the network’s confidence in the future and its commitment to enhancing long-term shareholder value, but some analysts have said they are skeptical how companies are deploying buyback programs. AMC shares are down nearly 11% in the year so far, underperforming the S&P 500 index, down 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of AMC Networks Inc. saw a more than 1% pop in premarket trade Monday after the company’s board of directors pushed through a share buyback program of up to $500 million. The network behind TV hits such as, “The Walking Dead” and “Better Call Saul” said the timing and amount of any buybacks has yet to be determined, but it will evaluate market conditions and share price, along with other factors. AMC also said there is no established closing date and the buyback program can be suspended or discontinued at any time. The Wall Street Journal reported this is AMC Networks’ first buyback program since being spun off from Cablevision Corp. in 2011. AMC Chief Executive Josh Sapan said in a statement the buyback shows the network’s confidence in the future and its commitment to enhancing long-term shareholder value, but some analysts have said they are skeptical how companies are deploying buyback programs. AMC shares are down nearly 11% in the year so far, underperforming the S&P 500 index, down 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News