https://www.wsj.com/articles/bitcoin-miners-eye-nuclear-power-as-environmental-criticism-mounts-11632654002
Bitcoin Miners Eye Nuclear Power as Environmental Criticism Mounts Some cryptocurrency miners are striking deals with operators of struggling nuclear plants, which are carbon-free and have excess power capacity to spare
By Jennifer Hiller - WSJ
Bitcoin miners, under fire for their sizable environmental footprint, are forging partnerships with owners of struggling nuclear-power plants with electricity to spare. The matchups have the potential to solve key issues facing each industry, executives and analysts say: Electricity-hungry bitcoin miners want stable and carbon-free power, while nuclear plants facing competition from cheaper power sources need new customers. Talen Energy Corp. has entered into a joint venture with bitcoin-mining company TeraWulf Inc., which has started land development for a mining facility the size of four football fields next to its Pennsylvania nuclear plant. Nuclear generator Energy Harbor Corp. will provide power to a Standard Power mining center in Ohio starting in December. “We are building demand adjacent to the existing nuclear plant,” said Talen Energy President Alex Hernandez, who heads the subsidiary jointly developing the mining project near the Susquehanna Steam Electric Station.
New nuclear projects are eyeing cryptocurrency miners as well: Startup Oklo Inc., which plans to build a small-scale fission power plant that can run on used nuclear fuel, has signed a 20-year supply deal with hardware and hosting firm Compass Mining. “Both industry’s challenges are the other industry’s positives,” said Sean Lawrie, partner at consulting firm ScottMadden Inc. Mining bitcoin is an energy-intensive process. To unlock more of the currency, miners must solve mathematical puzzles that become increasingly complex, which means they require more computing power—and electricity. Mining a decade ago required only a person with a PC, but rising bitcoin prices and a limited supply have created a race. The way to boost the odds of figuring out the puzzle is to put more machines to work. “At the core of bitcoin mining is energy and energy infrastructure,” said Paul Prager, chief executive of TeraWulf. The rise of vast mining operations has fueled criticism from environmentalists and others that growing use of fossil-fuel electricity for cryptocurrency could waste resources and worsen climate change. A tweet from Tesla Inc. Chief Executive Elon Musk expressing concern over the environmental impact of mining operations briefly caused bitcoin prices to fall in May. Nuclear power, meanwhile, has lost public favor in the wake of accidents such as Japan’s 2011 Fukushima disaster and has struggled to compete economically in the U.S. Nuclear plants provide a steady source of emissions-free power, but like coal-fired power plants, many face a daunting challenge selling their output in wholesale power markets amid stiff competition from wind and solar power—and natural-gas generation, which became cheaper after the fracking boom led to huge new discoveries of the fuel.
“They’re still making money because they’re still running, but it’s very hard for them in the current power markets to recover a fair return on their maintenance investments,” said Travis Miller, energy and utilities strategist for Morningstar. Numerous nuclear plants have been retired in the U.S. in recent years, including the Indian Point facility outside of New York City formerly owned by Entergy Corp. With retirements likely to outpace new projects, nuclear is poised to decrease in the U.S. electricity mix in coming years, according to the Energy Information Administration. Exelon Corp. EXC -0.83%▲ in June said that it would shut two of three Illinois nuclear plants that failed to sell their electricity during the most recent wholesale power auction for PJM Interconnection, which operates a market serving 13 states and Washington, D.C. That led state lawmakers to approve a bailout this month to keep the plants running. Talen’s Susquehanna plant also had fewer megawatts clear the same PJM auction than the previous one in 2018. The outlook for Talen subsidiary Talen Energy Supply LLC was revised to negative by Fitch Ratings and Moody’s Investors Service. The upshot will be a decline in auction revenue of $209 million over 2022 and 2023, according to Fitch.
Cryptocurrency miners in China are turning off their machines after Beijing warned it would tighten its control over the industry. This has created an opportunity for miners elsewhere, as the power behind crypto becomes less dependent on one place. Photo illustration: Sharon Shi “We find ourselves in a place where the power markets continue to be oversupplied, and in general with a few exceptions, pretty weak,” said Mr. Hernandez, Talen’s president. The company sees the bitcoin facility as key in building out a carbon-free digital infrastructure business, he added. It also plans a data center next to Susquehanna, and on Tuesday said it had secured another $175 million in capital for the projects.
While more nuclear-bitcoin tie-ups are expected, they aren’t likely to be large enough or happen quickly enough to save nuclear plants teetering on the edge of closure, said Bill Dugan, a director at Customized Energy Solutions, an energy advisory firm. “It would have to be a lot of them aggregated together,” Mr. Dugan said. For bitcoin miners, the partnerships allow them to promote projects as having an environmentally friendly source of power. “That was a big differentiator for us,” said Maxim Serezhin, chief executive at Standard Power, which is building a nuclear-powered bitcoin-mining facility at a former paper mill in Coshocton, Ohio. Standard Power’s formal name is 500 N 4th Street LLC. Energy Harbor declined to comment and referred questions to Mr. Serezhin.
The Compass Mining deal with startup Oklo doesn’t include a set price for power, but Whit Gibbs, chief executive of Compass, said he is confident that the companies will agree on a price that allows for profitable cryptocurrency mining. Jacob DeWitte, co-founder and chief executive at Oklo, said he had received inquiries from other bitcoin miners interested in the company’s 1.5-megawatt project using small modular reactors. It still needs federal approval, however, and isn’t likely to happen until sometime between 2023 and 2025, he said. In Miami, Mayor Francis Suarez has been touting his hometown as a destination for cryptocurrency miners, exchanges and investment firms. Part of his pitch includes the nearby nuclear-power plant owned by Florida Power & Light Co., a subsidiary of NextEra Energy Inc. NEE -0.70%▲ Many environmental, social and governance, or ESG, concerns about bitcoin mining “come from the fact that a lot of the mining was being done in coal-producing countries,” said Mr. Suarez. Talks with Florida Power & Light officials have included whether mining facilities might be located near the nuclear plant, and challenges such as the lack of cheap land to build big warehouses for mining gear, Mr. Suarez said.
Florida Power & Light declined to comment on the discussions, but spokesman Bill Orlove said South Florida has become a relocation destination for the tech industry. “We look forward to supporting the continued innovation and growth those companies bring,” Mr. Orlove said.

Hi Everyone,
so about a month ago Micheal Burry tweeted that he recommended the book You Can Be a Stock Market Genius by Joel Greenblatt. I read it and if I was asked to summarize it I would say: When companies spin off, it can be because the owners believe one part of the company is not getting the market value from investors it deserves. When the spin off happens, investors that, unwillingly, received shares from the least desirable of the two businesses will sell and so the share price could drop below its true worth. If you can figure out the worth of each company before the spin-off, and which company stands to benefit from it, you can make a lot of money.
So, I'm making this post in the hopes that whomever is interested will comment will below with anything they have that can help figure out the value of the Exelon spin-off.
Exelon (ticket EXC), is splitting into two companies: Exelon Utilities, and Exelon Power Generation.
Exelon Utilities is composed of these subcompanies:

Atlantic City Electric in Southern New Jersey
BGE in central Maryland
ComEd in Northern Illinois
Delmarva Power in Delaware and easty Maryland
Pepco in Washington DC and Maryland
PECO in Southeaster Pennsylvania

After reading this document from Exelon https://investors.exeloncorp.com/static-files/64959e19-f0ff-41e1-af82-92607f5b544d and this presentation https://investors.exeloncorp.com/static-files/2dda3a5d-b5c9-40d6-829f-da5c2efd6cc9 it reads to me like the board of directors believe that the utilities company is not receiving the market cap value it deserves i.e. after the spin-off the power generation business (least desirable) will be the one sold off (current share holders will get one share of this company for every share they currently hold of exelon, the ones who don't like to be in that business will sell, and the ones who don't know wtf is going on will panic sell), and the utilities company will surge once investors figure out its value.
So, that's where I'm at right now, and it's time to do the hard part of figuring out how much each portion of the business is worth, I'll post anything I find here if I see there's interest in it.

In Ohio, the new utility that owns Davis-Besse and Perry, Energy Harbor, has recently declined subsidies that the previous utility that owned it, Firstenergy, wanted (https://www.ans.org/news/article-2616/energy-harbor-may-decline-ohio-plant-subsidies/). The thing is, Firstenergy paid senators of the Ohio senate to pass the subsidy bill for subsidies it never needed, which is classical corruption. However, Firstenergy was doing exactly what Exelon was doing in Pennsylvania and New Jersey, it's just that Firstenergy got caught. For example, the Salem and Hope Creek nuclear power plants in New Jersey got bailed out with 300 Million dollars from New Jersey taxpayers due to what Exelon and PSEG claimed was competition from natural gas, in spite of multiple independent reports revealing otherwise (https://www.propublica.org/article/new-jerseys-300-million-nuclear-power-bailout-is-facing-a-court-challenge-does-it-have-a-chance, https://pressofatlanticcity.com/news/local/ratepayer-counsel-says-pseg-doesnt-need-subsidies-to-keep-nuke-plants-open/article_3c614240-ffb4-5993-b5a1-e60abe441b99.html). Or in Pennsylvania, where 9 billion dollars were granted to Exelon to keep their 4 plants, Three Mile Island, Peach Bottom, Limerick, and Susquehanna running (Even though they were doing fine economically) , and even with these subsidies, they ended up shutting down Three Mile Island anyways (https://www.youtube.com/watch?v=PVMqYM5jLdY, and yes, I get Mark is kind of wrong on some things, especially natural gas and coal, but he's right in this one). And this kind of bs is exactly what fuels people's distrust towards nuclear economically. Economically, it's the cheapest sources of energy and receives way less subsidies and tax credits compared to every other energy source, but what these utilities are doing is in essence damaging the reputation of nuclear energy. Even when you realize that nuclear utilities elsewhere rarely beg for subsidies, the average American only reads headlines and assumes that the plants near them or other plants are also either doing or planning on doing the same thing, which creates an anti-nuclear attitude in the general public and further encourages politicians to go against possible new-builds. Sorry for the long rant, but does anyone else feel this way?

US Stocks

Global markets are seeing red this morning as both the US and China prepare for more trade talks today, investotrs continue selling risk and this morning with front-month Dow Jones minis -0.63%, S&P 500 minis -0.62% and Nasdaq 100 minis -0.77%
President Trump said China "broke the deal" he was negotiating and that was why he threatened higher tariffs by Friday if there is not further progress
Chinese state media said China ready for "fighting while talking" as its delegation is due to start trade talks in Washington today
More on US-China: Trump Launched Tweet Barrage at China after they Changed Their Tune on Agreed-to Trade Deal
The most recent bond auction saw demand for US 10-year Treasuries come at the lowest level in over a decade, at 2.17 times the amount offered, fueling fears of those like JP Morgan (JPM) CEO Jamie Dimon, who warn of higher rates coming sooner than most think
Critics of the tariffs that President Trump is threatening to reinstate say they could cut US GDP in half if they return
Check out these TOP CHINA STOCKS: Look East and Feast: Top Chinese Stocks to fill your plate (and portfolio) with NOW!
These are our TOP TECH STOCKS: TOTALLY TOP TECH! These are the BEST US Tech stocks you need in your portfolio NOW!
The VIX keeps rising: Run Forrest, Run! Investors Flee Risk Assets This Week as VIX spikes over 60%
The VIX is moving up this morning and is currently at 21.21 after closing at 19.40 yesterday
Apache Corporation (APA) June 14 OTM Calls & Puts, iShares MSCI Emerging Markets ETF (EEM) June 17 and July 19 OTM Puts and Office Depot (ODP) January 17 OTM Puts are the most actively traded options contracts in US pre-market trading this morning
US 10-Year Treasury Bonds are higher with yields down -3.06 basis points to 2.4529%
The US Treasury 2s-10s Spread has narrowed 0.83 basis points to 0.18%
WTI Crude is currently up 1.17% to USD$62.12/bbl with the Brent-WTI spread down USD$-0.82 to USD$8.73/bbl
Gold is currently little changed 0.15% to USD$1282.79/oz

Stocks Trending in the News

Click name for Q-Factor breakdown, latest price details, more financial info and sentiment data.

Alphabet’s (GOOGL) Google is struggling to convert its music customers to paying customers. Google’s YouTube was revamped about a year ago and its YouTube Music service is a paid subscription that Google is trying to convert its free users to. More people listen to music on YouTube than any other streaming service. Users, however, have grown accustomed to its free price and have been resistant to signing up for paid subscriptions. Alphabet cited this as part of the reason for its $1 billion revenue miss. Alphabet is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Information Technology Global Top Stock Ideas.
Amazon (AMZN) is being accused of violating kids’ privacy right with its smart speakers. A child advocacy group filed a complaint with federal authorities complaining that Amazon records conversations of kids on its Echo Dot Kids devices. The complaint alleges that Amazon records the conversations and then stores them in the cloud, even after parents delete it. The complaint states the actions violates federal online privacy rules. Amazon is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas.
Boeing (BA) convinced federal regulators that pilot new training for the new 737 Max, when introduced, was kept to a minimum, ex-employees allege. Boeing convinced regulators the new version of the plane only required Level B training, which is a couple of hours on an iPad, and no time in a simulator. Boeing wanted to limit the need for Level D training-which include extensive simulator time-so airlines could deploy the plane more quickly. Boeing engineers convinced the FAA official in charge-someone with limited flight time-that the Level B training was sufficient. Critics allege this may have contributed to the 737 Max crashed. Boeing is rated “Top Short” in our US Large-Cap Global Top Stock Ideas and “Unattractive” in our US Consumer Staples Global Top Stock Ideas.
Exelon (EXC) confirmed it is moving forward with closing the Three Mile Island nuclear power plant in Pennsylvania. Exelon is making the move given that a bill to provide subsidies to keep them open has not moved forward in Pennsylvania’s legislature. Exelon confirmed previously announced plans. The plant will be closed by September 30th of this year. Exelon is rated “Neutral” in our US Large-Cap Global Top Stock Ideas
Intel (INTC) provided updated guidance to investors that was not well received. Intel said it expects revenue growth in the low single digits over the next 3 years. Intel expects EPS to grow in line with revenue during the same period. Intel expects its PC revenue to be flat or fall while data centric revenue will grow in the high single digits. Intel is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Information Technology Global Top Stock Ideas.
Walmart (WMT) published a report on the earnings of its employees to rebut criticism that they are underpaid. The average salary for a Walmart manager is $175,000 per year while full time employees earn on average $25,000 per year or $14.28 per hour. Walmart has been expanding benefits and hiking pay both to rebut critics and better position itself in the extremely tight labor market than exists right now. Walmart is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Staples Global Top Stock Ideas.
Walt Disney (DIS) reported fiscal second quarter adjusted earnings and revenue that beat consensus. Disney first quarter adjusted EPS of $1.61 beat consensus of $1.58. Fiscal second quarter revenue of $14.92 billion beat $14.54 billion expectations. Disney saw media networks operating income grow to $2.19 billion from $1.3 billion q/q. Disney CEO Robert Iger said he was “very pleased” with fiscal second quarter results. Walt Disney is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas.
Wendy’s (WEN) reported first quarter adjusted earnings that beat consensus. Wendy’s first quarter adjusted EPS of 14 cents beat consensus of 12 cents. First quarter revenue of $408.6 million beat consensus of $398.9 million. Wendy’s reported same store sales of 1.3%, a touch below consensus of 1.4%. Wendy’s is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas.

European Stocks

The Euro Stoxx 600 is currently down -0.79%, the FTSE 100 is down -0.34%, the DAX is down -0.79%, and the CAC 40 is down -1.17%
Technology (-0.72%), Media (-0.96%), and Industrial Goods & Services (-0.94%) stocks are the top performers in the Euro Stoxx 600 today
Travel & Leisure (-0.95%), Utilities (-0.09%), and Real Estate (+0.52%) stocks are the worst performers in the Euro Stoxx 600 today
Investor sentiment for European stocks is negative with the advance/decline ratio for the Euro Stoxx 600 currently at 0.29x
29 stocks in the Euro Stoxx 600 are at 4-week highs while 188 stocks are at 4-week lows
21 stocks in the Euro Stoxx 600 are overbought while 27 stocks are oversold according to the 16-day RSI Measure
The Nikkei 225 finished down --0.93%, the Hang Seng ended down -2.39%, the Hang Seng China Enterprise declined -2.27%, and the CSI 300 was -1.85%
Investor sentiment for Japanese stocks finished negative with the advance/decline ratio for the Nikkei 225 closing at 0.15x
5 stocks in the Nikkei 225 hit 4-week highs while 149 stocks reached 4-week lows
4 stocks in the Nikkei 225 closed overbought while 33 stocks closed oversold according to the 16-day RSI Measure
Investor sentiment for Hong Kong stocks finished negative with the advance/decline ratio for the Hang Seng closing at 0.09x
1 stock in the Hang Seng hit 4-week highs while 26 stocks reached 4-week lows
0 stocks in the Hang Seng closed overbought while 5 stocks closed oversold according to the 16-day RSI Measure

Planning on buying a house and wish to sell 30k(~750 shares of Exelon) worth of shares that I own. There's some information I'm sure you'll need, but that is not readily available to me, so any estimate you can provide would be appreciated.
This is pretty much all the information I have: I recieved the shares about 20 years ago and they have been reinvested quarterly since. Initial purchase amount and at what price is unclear (estimated to have been worth $1000-3000, based on my mother's memory).
I make around 28k a year after taxes. I'm 22 years old. Not married (if that matters). These are my only assets. I live in Pennsylvania.
I'd just like a rough estimate on how much I can expect to cash out if I were to sell all of the shares, before I go to an accountant. What kind of closing costs/expenses will I have to pay and what will the government take?
Any information or tips on what my next plan of action should be are appreciated. I will try to provide additional information if needed. Thank you and sorry I'm financially ignorant.

Hi everyone! Thanks for joining. This sub is for active traders of crypto and stocks, those looking to make a fat YUGE profit. While all are welcome, we are more geared for traders with a serious mindset. Post your ideas for today here.
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FINVIZ HEATMAP - FINVIZ FUTURES - FOREX - NEWS FEED
FEB 14th WED Fear & Greed Index
Economic Calendar: Results & More

Time	Release	For	Actual	Expected	Prior
7:00:00 AM	MBA Mortgage Applications Index	10-Feb-18	-4.10%	NA	0.70%
8:30:00 AM	CPI	Jan	0.50%	0.40%	0.20%
8:30:00 AM	Core CPI	Jan	0.30%	0.20%	0.10%
8:30:00 AM	Retail Sales	Jan	-0.30%	0.20%	0.00%
8:30:00 AM	Retail Sales ex-auto	Jan	0.00%	0.40%	0.10%
10:00:00 AM	Business Inventories	Dec	-	0.40%	0.30%

Ex-Dividend: Calendar

Ex- Div	Company	Amt	Yield
AGCO	AGCO Rg	0.15	0.01
AIT	Applied Ind Tech Rg	0.30	0.02
ALE	Allete Rg	0.56	0.03
AMGN	Amgen Rg	1.32	0.03
ARR	ARMOUR Res REIT Rg	0.19	0.10
AWR	American Sts Wat Rg	0.26	0.02
BHB	Bar Harbor BKSHS Rg	0.19	0.00
BHLB	Berkshire Hills Rg	0.22	0.02
BKH	Black Hills Rg	0.48	0.04
CC	Chemours Rg	0.17	0.00
CHD	Church & Dwight Rg	0.22	0.02
CNP	Centerpoint Ener Rg	0.28	0.04
DRE	Duke Realty REIT Rg	0.20	0.03
EXC	Exelon Rg	0.35	0.04
GCBC	Greene County Ba Rg	0.10	0.01
GRC	GORMAN-RUPP RG	0.13	0.02
HCP	HCP REIT Rg	0.37	0.06
HTH	Hilltop Holdings Rg	0.07	0.01
IVZ	Invesco Rg	0.29	0.04
JBL	Jabil Circuit Rg	0.08	0.01
KLAC	KLA-Tencor Rg	0.59	0.02
KR	Kroger Rg	0.13	0.02
LABL	Multi-Color Rg	0.05	0.00
LKSD	LSC Communicatio Rg	0.26	0.08
LLY	Eli Lilly & Co Rg	0.56	0.03
MMS	Maximus Rg	0.05	0.00
MNR	MONMOUTH REAL EST-A	0.17	0.05
MSEX	Middlesex Water Rg	0.22	0.02
MSFT	Microsoft Rg	0.42	0.02
OTTR	Otter Tail Rg	0.34	0.03
PFS	Provident Financ Rg	0.20	0.03
PKOH	Park Ohio Holdin Rg	0.13	0.01
PRI	Primerica Rg	0.25	0.01
RECN	Resources Connec Rg	0.12	0.03
RRD	RR Donnelley&Sons - Registered	0.14	0.00
SALT	Scorpio Bulkers Rg	0.02	0.00
SBRA	Sabra HC REIT Rg	0.45	0.06
SHBI	Shore Bancshares Rg	0.07	0.01
SIGI	Selective Insura Rg	0.18	0.01
SMBC	Sn Missouri Banc Rg	0.11	0.00
SMP	Stand Motor Prod Rg	0.21	0.02
SWX	Southwest Hldgs Rg	0.50	0.03
TCF	TCF Financial Rg	0.15	0.00
TJX	Tjx Companies Rg	0.31	0.02
UMH	UMH Propert REIT Rg	0.18	0.08
VVC	Vectren Rg	0.45	0.03
WBA	Walgreens Boots Rg	0.40	0.02
WYNN	Wynn Resorts Rg	0.50	0.01
XEC	Cimarex Energy Rg	0.08	0.00
XYL	Xylem Rg	0.21	0.01
ZION	Zions Bancorp Rg	0.20	0.01

Earnings Reports: Morningstar Earnings Calendar & Results

Company	Release	Est. EPS	Company	Release	Est. EPS
ACCO Brands (ACCO)	Morning	0.44	Intercept Pharmaceuticals (ICPT)	Morning	-3.39
AerCap (AER)	Morning	1.38	Interpublic Group of Companies (IPG)	Morning	0.77
Agios Pharmaceuticals (AGIO)	Morning	-1.65	Iqvia (IQV)	Morning	1.34
Agnico Eagle Mines (AEM)	Afternoon	0.20	Irhythm Technologies (IRTC)	Afternoon	-0.35
Airgain (AIRG)	Afternoon	0.07	Israel Chemicals (ICL)	Morning	0.08
Alkermes (ALKS)	Morning	0.13	JMP Group (JMP)	Afternoon	0.06
Allison Transmission (ALSN)	Afternoon	0.62	Keysight Technologies (KEYS)	Afternoon	0.61
Allscripts Healthcare Solutions (MDRX)	Afternoon	0.19	Kinross Gold (KGC)	Afternoon	0.04
Altisource Portfolio Solutions (ASPS)	N/A	0.54	Laboratory Corp. of America (LH)	Morning	2.38
Annaly Capital Management (NLY)	Afternoon	0.30	Lincoln Electric (LECO)	Morning	0.96
Apollo Commercial Real Est. Finance (ARI)	Afternoon	0.10	Lithia Motors (LAD)	Morning	2.09
Arista Networks (ANET)	Afternoon	1.39	Live Ventures (LIVE)	Afternoon	N/A
ARRIS International (ARRS)	Afternoon	0.76	Marathon Oil (MRO)	Afternoon	-0.05
Avon Products (AVP)	Morning	0.07	Marchex (MCHX)	Afternoon	-0.01
B&G Foods (BGS)	Afternoon	0.57	Marriott International (MAR)	Afternoon	1.01
Barrick Gold (ABX)	Afternoon	0.21	Martin Midstream Partners (MMLP)	Afternoon	0.35
BCB Bancorp (BCBP)	N/A	0.21	Mattersight (MATR)	Afternoon	-0.10
Blucora (BCOR)	Morning	-0.25	Mazor Robotics (MZOR)	Morning	-0.07
Build-A-Bear Workshop (BBW)	Morning	0.35	MFA Financial (MFA)	N/A	0.17
Bunge (BG)	Morning	1.48	Molson Coors Brewing (TAP)	Morning	0.56
CBIZ (CBZ)	Morning	0.02	Navigators Group (NAVG)	Afternoon	0.59
Cedar Fair (FUN)	Morning	0.22	Neptune Technologies & Bioressources (NEPT)	Afternoon	N/A
Centurylink (CTL)	Afternoon	0.32	NetApp (NTAP)	Afternoon	0.90
Chemed (CHE)	Afternoon	2.27	New Home (NWHM)	Morning	0.64
Chemours (CC)	Afternoon	0.97	NOW (DNOW)	Morning	-0.07
Chimera Investment (CIM)	Morning	0.61	Nu Skin Enterprises (NUS)	Afternoon	1.18
Cimarex Energy (XEC)	Afternoon	1.22	Orbotech (ORBK)	Morning	0.85
Cinedigm (CIDM)	Afternoon	N/A	Parker Drilling (PKD)	Afternoon	-0.17
CMS Energy (CMS)	Morning	0.51	Patrick Industries (PATK)	Morning	1.07
CNX Midstream Partners (CNXM)	Morning	0.39	Pennsylvania Real Estate Investment Trust (PEI)	Afternoon	0.04
Cohu (COHU)	Afternoon	0.31	Photronics (PLAB)	Morning	0.06
Colliers International Group (CIGI)	Morning	1.23	Pilgrim's Pride (PPC)	Afternoon	0.58
Consumer Portfolio Services (CPSS)	Afternoon	0.17	Potbelly (PBPB)	Morning	0.08
Corecivic (CXW)	Afternoon	0.55	Prothena (PRTA)	Afternoon	-1.47
Credit Suisse Group (CS)	Morning	N/A	QuickLogic (QUIK)	Afternoon	-0.04
Criteo (CRTO)	Morning	0.74	RadNet (RDNT)	Morning	0.11
CVR Energy (CVI)	Morning	-0.07	Rexford Industrial Realty (REXR)	Afternoon	0.03
CVR Refining (CVRR)	Morning	-0.02	Sabre (SABR)	Morning	0.28
Cyren (CYRN)	Morning	-0.08	SCANA (SCG)	Morning	0.90
Cytokinetics (CYTK)	N/A	-0.71	Scorpio Tankers (STNG)	Morning	-0.08
Dean Foods (DF)	Morning	0.26	Shire (SHPG)	Morning	3.86
Deltic Timber (DEL)	Afternoon	N/A	Sodastream International (SODA)	Morning	0.78
Diana Shipping (DSX)	Morning	N/A	Stag Industrial (STAG)	Afternoon	0.02
Digital Realty Trust (DLR)	Afternoon	0.37	Stericycle (SRCL)	Afternoon	1.14
Enbridge Energy Management (EEQ)	N/A	0.12	Summit Materials (SUM)	Morning	0.27
Enbridge Energy Partners (EEP)	Morning	0.20	Sun Life Financial (SLF)	Afternoon	0.81
EPAM Systems (EPAM)	Morning	0.98	SunPower (SPWR)	Morning	0.12
Equity Commonwealth (EQC)	Afternoon	0.20	Syntel (SYNT)	Morning	0.39
Euroseas (ESEA)	Morning	-0.03	Teck Resources (TECK)	Morning	1.01
Five9 (FIVN)	Afternoon	0.04	Terex (TEX)	Morning	0.24
FLIR Systems (FLIR)	Morning	0.55	The GEO Group (GEO)	Morning	0.35
Genesis Energy (GEL)	Afternoon	0.36	Time (TIME)	Morning	0.76
Genocea Biosciences (GNCA)	N/A	-0.41	Tucows (TCX)	Morning	0.74
Gladstone Commercial (GOOD)	Afternoon	-0.02	Ultragenyx Pharmaceutical (RARE)	Afternoon	-1.96
GNC (GNC)	Morning	0.23	United Fire Group (UFCS)	Morning	0.57
Gold Fields (GFI)	Afternoon	N/A	Urban Edge Properties (UE)	Afternoon	0.34
Goldcorp (GG)	Afternoon	0.12	US Ecology (ECOL)	Afternoon	0.60
Grand Canyon Education (LOPE)	Afternoon	1.10	Vanda Pharmaceuticals (VNDA)	Afternoon	-0.11
Healthcare Realty Trust (HR)	Afternoon	0.10	Veru (VERU)	Morning	-0.03
Hilton Worldwide (HLT)	Morning	0.44	Warrior Met Coal (HCC)	Afternoon	0.79
Hudson Pacific Properties (HPP)	Morning	0.11	Waste Management (WM)	Morning	0.83
Huntington Ingalls Industries (HII)	Morning	2.93	West Pharmaceutical Services (WST)	Morning	0.63
HV Bancorp (HVBC)	Morning	N/A	Williams Partners (WPZ)	Afternoon	0.44
Hyatt Hotels (H)	Morning	0.22	Wix.Com (WIX)	Morning	-0.13
IMPINJ (PI)	Afternoon	-0.21	Wyndham Worldwide (WYN)	Morning	1.35
Independence Realty Trust (IRT)	Morning	0.07	YuMe (YUME)	Afternoon	N/A
Insight Enterprises (NSIT)	Afternoon	0.79

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http://mailchi.mp/world-nuclear-news/wnn-weekly-11-24-april-2671825?e=b80dda6d24
ENERGY & ENVIRONMENT:
USA to 'renegotiate' Paris Agreement
^{2 June 2017}

The USA is to withdraw from the Paris Agreement on climate change, with the aim of renegotiating its contribution, President Donald Trump has announced. The global reaction has been a mixture of dismay and determination to follow through on Paris commitments.

NEW NUCLEAR:
Russia, India plan for Kudankulam 5 and 6
^{2 June 2017}

Russia and India have signed a framework agreement enabling construction of the 'third stage' of the Kudankulam nuclear power plant, including an intergovernmental credit protocol for implementation of the project. The documents were signed at the 18th Annual Russian-Indian Summit, held alongside the St Petersburg International Economic Forum, by Valery Limarenko, president ASE Group, and Sri Sharma, chairman and managing director of the Nuclear Power Corporation of India Ltd.

CNL invites input on SMR technology
^{2 June 2017}

Canadian Nuclear Laboratories launched a request for expressions of interest in small modular reactors. The nuclear science and technology organisation aims to demonstrate the commercial viability of SMR technology by 2026.

Fuel assemblies arrive at Barakah 1
^{30 May 2017}

The Emirates Nuclear Energy Corporation has taken delivery of fuel assemblies for unit 1 of the Barakah nuclear power plant under construction in western Abu Dhabi. The fuel assemblies are being stored until the Federal Authority for Nuclear Regulation approves the operating licence for units 1 and 2.

WASTE & RECYCLING:
NEA prepares decommissioning costs report
^{1 June 2017}

The OECD-Nuclear Energy Agency - together with the International Atomic Energy Agency - plans to publish new guidance on improving cost estimates of nuclear decommissioning projects. Simon Carroll, a senior analyst with the Swedish Radiation Safety Authority, told delegates at the Nuclear Decommissioning & Waste Management Conference Europe that the guidance addresses project risk and uncertainty in cost estimates "in a more comprehensive fashion" than existing practice.

Licence renewal for Canadian waste facility
^{1 June 2017}

The Canadian Nuclear Safety Commission has renewed the operating licence for Ontario Power Generation's Western Waste Management Facility until 31 May 2027. Meanwhile, OPG has responded to requests for information from the federal government about its proposed Deep Geologic Repository for the permanent disposal of low- and intermediate-level radioactive waste from its nuclear power plants.

GAO identifies key steps for Yucca Mountain licensing
^{31 May 2017}

The US Department of Energy and the Nuclear Regulatory Commission will need to rebuild their organisational capabilities in order to restart the suspended licensing process for the Yucca Mountain high-level radioactive waste repository, according to the Government Accountability Office.

NUCLEAR POLICIES:
IAEA welcomes technical cooperation growth
^{5 June 2017}

The International Atomic Energy Agency's Technical Cooperation program has produced another 15 agreements, which were signed during last week's conference to mark the 60th anniversary of the program. IAEA deputy director-general Dazhu Yang said the latest agreements were testimony to the importance of partnerships in the pursuit of development objectives.

IAEA marks 60 years of technical cooperation
^{31 May 2017}

The International Atomic Energy Agency's Technical Cooperation program has made "a valuable contribution to development", the agency's director-general Yukiya Amano told a conference to mark the program's 60th anniversary.

REGULATION & SAFETY:
Bruce B implements OSART recommendations
^{5 June 2017}

Canada's Bruce B nuclear power plant has made significant progress in implementing the safety improvement recommendations of a 2015 International Atomic Energy Agency Operational Safety Review Team, a follow-up mission has confirmed.

CORPORATE:
French research facilities to welcome Jordanians
^{2 June 2017}

Jordanian researchers will have access to the research reactors and ancillary facilities of the French Alternative Energies and Atomic Energy Commission following the recent signing of a partnership agreement with the Jordan Atomic Energy Commission.

IAEA advises on retaining knowledge at Chinese plant
^{1 June 2017}

A roadmap for the effective transfer of knowledge from the existing operators of China's Daya Bay nuclear power plant to future operators has been drawn up with the assistance of experts from the International Atomic Energy Agency.

Three Mile Island faces premature retirement
^{30 May 2017}

The Three Mile Island nuclear power plant in Pennsylvania will be permanently shut down around the end of September 2019 if there are no policy reforms, US utility Exelon announced. The company had recently warned the plant was at risk of early retirement.

Areva reactor business sale meets European rules
^{30 May 2017}

The European Commission approved EDF's takeover of Areva's nuclear reactor business under EU merger regulations. The transaction, expected to be completed by the end of this year, is "unlikely to raise competition concerns", it said.

Key Stats for Consolidated Edison, Inc.

Con Ed's a New York icon! Can it's stock light up your portfolio?

Ticker	ED
Sector	Electric Utilities
Latest price	$74.43
Value	$22,733M
Daily vol	$103M
Date	19 January 2017

Useful Links

Latest news from Google Finance and Yahoo Finance
Latest results from SEC Edgar
Website: http://www.coned.com/

Description

Consolidated Edison, Inc. is an electric utility that owns Consolidated Edison Company of New York, Inc., Orange and Rockland Utilities, Inc. It also owns electric and gas transmission businesses. Their customers are in New York City, Westchester County, south-eastern New York, northern New Jersey and north eastern Pennsylvania. Those customers range from businesses, consumers to other electricity companies.
Though if you've ever visited New York, you'll have seen their advertising or trucks! And if you think back to your history classes, Thomas Edison, yes he founded part of the business back in 1880.

Recent financials

Glacial you might say. At least at the top line. Sure the EPS is up 10% in 5 years, but, I fail to see how that could excite anyone.

Metric	2015A	2014A	2013A	2012A	2011A
Revenue	$12.6bn	$12.9bn	$12.3bn	$12.2bn	$12.9bn
EPS	$4.05	$3.71	$3.61	$3.86	$3.57

Competition

I don't think I've ever seen a competition statement like this before!

(We) do not consider it reasonably likely that another company would be authorized to provide utility delivery service of electricity, natural gas or steam where the company already provides service. Any such other company would need to obtain NYSPSC consent, satisfy applicable local requirements, install facilities to provide the service, meet applicable services standards, and charge customers comparable taxes and other fees and costs imposed on the service. A new delivery company would also be subject to extensive ongoing regulation by the NYSPSC.

Hey, we are a monopoly, dude! That aside, let's look at their "peers"! And frankly, it's hard to be impressed. Margins aren't amazing, nor are returns. :(

Companies	Latest Sales	Operating Profit	Return on Equity
Consolidated Edison, Inc.	$12,074M	30%	9%
American Electric Power Company Inc	$16,204M	33%	3%
Dominion Resources, Inc.	$11,207M	47%	15%
Duke Energy Corp	$23,249M	41%	7%
Edison International	$11,325M	35%	8%
Exelon Corporation	$30,186M	28%	5%
Public Service Enterprise Group Inc.	$9,249M	35%	10%
Southern Co	$18,283M	42%	11%

Though I suppose we can't really fault them on their returns since they are only allowed may 9% return on equity by their regulator.

Cash / Debt?

Consolidated Edison, Inc. has $14,541M of net debt. That is 4.1x it's latest operating profit. Now that sort of debt would normally worry me, but this is a utility, people want their tv to work, so a little more debt than the supermarket, is fine.

Wall Street thinks?

The professionals on Wall Street have a $73.04 for Consolidated Edison, Inc. and their recommendation to clients is Hold. That implies a downside of 2% to their target.

Valuation

And I sort of get that caution. This is a limited growth business, that's a highly regulated monopoly, that trades at a marginal discount to the market average.

View Peers	Valuation	Forecast PE	Long-term Growth	Dividend Yield	FCF Yield
ED	$22,733M	19x	2%	4%	14%
AEP	$31,376M	17x	2%	4%	11%
D	$47,758M	20x	6%	4%	12%
DUK	$53,365M	17x	2%	4%	17%
EIX	$23,625M	19x	2%	3%	15%
EXC	$33,127M	13x	4%	4%	11%
PEG	$22,468M	15x	1%	4%	14%
SO	$48,696M	17x	4%	4%	16%

Dividends

Consolidated Edison, Inc. is forecast to pay a dividend of $2.67 per share, compared with a historic dividend of $2.66 per share. That is a 0% growth. The forecast dividend of $2.67 compares to a forecast EPS of $3.96.

Catalysts

In the last 3 months the stock price has moved by 2% that compares with no change in the earnings. That's against a backdrop of sales down 5% in the nine-months to Sept, and net income up 2%.
I have to admit, I am a bit surprised... the stock took a 10% dive post Trump, as bond-proxies got hit, but's rebounded since. Plus if the US is going to engage in a major bout of investing, won't Electric Utilities be some of the big investors?
Am I missing a spark?
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Disclosure: I have no position in any of the stocks mentioned. However I may initiate a position within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
Author notes: u/shane_stockflare works at a financial website, Stockflare, and is a Chartered Financial Analyst.

http://us1.campaign-archive2.com/?u=140c559a3b34d23ff7c6b48b9&id=cd5c189428&e=b80dda6d24
NEW NUCLEAR:
European Commission to modernize nuclear research centre
^{9 June 2016}

A groundbreaking ceremony has been held to launch the start of construction of a new laboratory building at the European Commission's Joint Research Centre at Karlsruhe in Germany. The new building will replace older ones on the site.

Outer shell installed on dome of second Novovoronezh unit
^{9 June 2016}

Rosatom has announced installation of the outer shell of the containment building dome at unit 2 of the Novovoronezh II nuclear power plant.

WASTE & RECYCLING:
Chernobyl units 1-3 now clear of damaged fuel
^{7 June 2016}

The last damaged used fuel assembly from the Chernobyl nuclear power plant has been removed - from the cooling pool of unit 1 - and transferred to ISF1, a wet-type interim storage facility.

Japanese research reactor materials arrive in USA
^{7 June 2016}

A shipment of plutonium and highly enriched uranium from Japan Atomic Energy Agency's Fast Critical Assembly reactor has arrived at two US Department of Energy sites. Japan and the USA announced their commitment to remove the material at 2014 and 2016 nuclear summits.

NUCLEAR POLICIES:
Sweden abolishes nuclear tax
^{10 June 2016}

The Swedish parliament has agreed to abolish a tax on nuclear power as it recognizes nuclear's role in helping it to eventually achieve a goal of 100% renewable generation.

US-India deal helps pave way for new nuclear in India
^{8 June 2016}

Westinghouse can start building six AP1000s in India following an agreement signed during talks at the White House between Indian Prime Minister Narendra Modi and US President Barack Obama. It is the first such opportunity for a US company since the countries signed a civil nuclear deal in 2008.

REGULATION & SAFETY:
Test run for Fukushima Daiichi 3 cover installation
^{13 June 2016}

In preparation for the installation of a fuel removal machine and a protective cover over unit 3 of the damaged Fukushima Daiichi plant in Japan, workers have carried out a practice run of installing roof modules onto the base of the fuel handling machine.

International radiation mapping system launched by IAEA
^{10 June 2016}

A new international radiation monitoring information system launched by the International Atomic Energy Agency will collect and display data to help countries respond rapidly in nuclear or radiological emergencies.

IAEA highlights senior management's role in maintaining safety
^{8 June 2016}

The board of governors of the International Atomic Energy Agency adopted a revision to a safety standard related to the role of leadership and management in ensuring safety to protect human life, health and the environment from harmful effects of radiation.

CORPORATE:
Emirati companies benefit from nuclear program
^{13 June 2016}

The construction of the United Arab Emirates' first nuclear power plant has seen 14,000 Emirati companies share contracts worth a total of over $3 billion over the past six years, benefitting the economy and stimulating the growth of heavy industry in the country, the Emirates Nuclear Energy Corporation announced.

Eskom trains operators ready for new build
^{10 June 2016}

South African nuclear operator Eskom has launched a five-year project to train 100 nuclear plant operators to support the country's current and future nuclear needs.

Exelon to seek extended operating licence for Peach Bottom
^{8 June 2016}

US utility Exelon said it intends to apply for an additional 20-year extension to the operating licence for the Peach Bottom nuclear power plant in Pennsylvania. If granted, the extension would see the two-unit plant complete 80 years of operating service.

URANIUM & FUEL:
Ur-Energy streamlines US operations
^{9 June 2016}

US uranium producer Ur-Energy has announced cost-saving measures with workforce reductions across all of its locations including the Lost Creek site in Wyoming, citing uranium spot market conditions. The company currently has no plans for further exploration at its Wyoming sites.

VIEWPOINT:
Carbon pricing not enough to help nuclear power
Politically feasible carbon pricing is not likely to provide the long-term revenue needed to support existing or new nuclear power projects. Instead, project-specific activities should be undertaken to keep existing nuclear in operation and to drive investment in new nuclear power plants - with the cost of these activities recovered as a cost of controlling carbon, writes Nuclear Economics Consulting Group CEO Edward Kee.
Economic analyses of nuclear power projects reflect carbon price revenue, but only as a low-probability upside scenario for equity investors. The benefits, timing, level and certainty of carbon prices will need to change if nuclear power project investors and lenders are to consider carbon price revenue as a key part of project economics.
Carbon prices provide no direct benefit to nuclear power, but increase the cost of fossil fuel electricity in ways that may result in indirect benefits for nuclear power. Higher costs for combustion-based electricity due to carbon prices will make nuclear electricity appear more competitive for traditional electric utilities.
More ...

June 12, 2013 (30.40) Two Minute Drill
Two Minute Drill - “I like to be able to give a two-minute monologue that covers the reasons I’m interested in it, what has to happen for the company to succeed, and the pitfalls that stand in its path.” Peter Lynch
Exelon is a large utility services holding company. Exelon generates and delivers energy to over 6.6M customers. Their principal markets are Northern Illinois (including Chicago), southeastern Pennsylvania (including Philadelphia) and central Maryland (including Baltimore).
The generation of energy is resourced by approximately 52% nuclear, 37% fossil and 11% renewable.
If we bring down F2013 earnings to $2.20 per share, using a share price of $30.40, you get a P/E of 13.82. This is using depressed earnings, and not looking towards 2014. Much of this investment is based on a lower than typical P/E, or at least an arguably fair P/E. If earnings rebound to $2.70 in F2014, the P/E at today’s closing price would be 11.26.
Because they have such a high nuclear generation, their costs are relatively fixed, yet the rates they can charge are based on the price of natural gas. Natural gas has been in a depression, and currently is priced at $3.77 per unit. During 2006, the price of natural gas was in excess of $10 per unit, and it went under $3.00 per unit during 2012.
A constant moderate rise in natural gas prices would be operationally positive for Exelon. Of course falling prices would have the opposite affect.
The company carries the inherent risk of any utility, as well as the risks of a potentially negative nuclear situation. The company carries a lot of debt, and if their credit rating went below investment grade, that could be detrimental to the investment and thesis.
You can see my EXC notes at this link.
http://rbcpa.com/companies/EXC_Notes_20130613.pdf

Pennsylvania and exelon

Philadelphia