Encana and R.R. Donnelly Sink to 52-Week Lows in Trading Tuesday
Encana Oil & Gas US (NYSE:ECA) is simultaneously building and developing the Normally Pressured Lance (NPL) natural gas field in Sublette County and has promised to lower emissions of ozone precursors for it and the adjacent populations while doing so. Trading in a 52-week range of of $17.43 to $35.22, shares closed at $17.30, down $0.19 or 1.09% on the day.
R.R. Donnelley & Son (NASDAQ:RRD) shares sink to a 52-week low, closing at $12.13, down $2.28 or 15.82% on the day; they had traded in a 52-week range of $12.90 to $21.34. This after the printing company said it’s unable to provide GAAP earnings estimates for FY2011 because it is still determining “a pension curtailment gain, acquisition-related expenses and other items.” Putting full-year revenue at $10.6B, below $10.72B consensus, RR Donnelly sees free cash flow above previous estimates.
Alternative energy projects from NextEra (NYSE:NEE), Exelon (NYSE:EXC), and CMS are being shelved by Exco Resources Nl (NYSE:XCO), due to the continuing decline in natural gas (off 6.9% today) and resultant fall in electricity prices. Despite this, Michael Morris of American Electric Power (NYSE:AEP) warns about becoming too dependent on gas: “The way to make $4 gas, $8 gas is for everyone to go out and build … natural-gas plants.” Trading in a 52-week range of $8.25 to $21.04, shares closed at $8.00, down $0.39 or 4.65% on the day.
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