Wisconsin Energy BENEFITS from Hot Summer and 4 Stocks Riding 52-Week Highs
Unilever NV (NYSE:UN): A World Bank official in charge of agriculture risk management foresees “growing concern across the world from developing countries” regarding the rise in grain prices. Analysts worry about how the affected countries react to the price increases, especially the case in which they stockpile or resort to panic buying like they did in 2007, which if repeated, could really accelerate the conditions, according to the Financial Times. Shares have traded in a 52-week range of $29.78 to $35.17.
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Wisconsin Energy Corporation (NYSE:WEC) posts second quarter revenue of $944.7 million, compared to consensus at $988.86 million. This figure is an improvement according to the company, which said that second quarter earnings were fueled by warm summer temperatures, lower operations and maintenance costs, plus the positive impact of the corporation’s share buyback program. Shares have traded in a 52-week range of $27.00 to $41.31.
Wells Fargo & Company (NYSE:WFC): A former employee at Citigroup, Inc. (NYSE:C), Brian Stoker, has been found not guilty in the first court test of the Securities and Exchange Commission’s claims that investors were misled by banks during the financial crisis when they purchased mortgage-linked securities, according to the Financial Times. Citigroup had agreed to pay $285 million to resolve the charges, without admitting or denying wrongdoing, but a judge rejected that agreement, and that ruling is currently on appeal. Shares have been traded in a 52-week range of $22.58 to $34.59.
Westar Energy, Inc. (NYSE:WR) is among the companies in the Prairie Wind Transmission joint venture, that also includes American Electric Power Company Inc. (NYSE:AEP), and MidAmerican Energy Holdings Company. The entity recently initiated construction of 108 miles of new double-circuit, 345-kilovolt transmission lines in south-central Kansas. The $180 million project will stretch between Colwich, Kansas, southwest to a new substation at Medicine Lodge, Kan., and Hardtner, Kansas, at the border with Oklahoma, and should be finished late in 2014. American Electric has projected $466 million in transmission capital investment this year, through its transmission companies and joint ventures, along with an 8 cents per share contribution to 2012 earnings generated by its transmission operations. Shares have traded in a 52-week range of $22.63 to $31.02.
Wizzard Software Corporation (AMEX:WZE) is among the six securities whose trades will be cancelled by the NYSE Euronext, subsequent to Wednesday’s trading problems. The others include China Cord Blood Corporation (NYSE:CO), Reaves Utility Income Fund (AMEX:UTG), E-House (NASDAQ:CHINA) Holdings Limited (NASDAQ:CHINA), American Reprographics Company (NYSE:ARC) and Quicksilver Resources Inc. (NYSE:KWK), according to the Wall Street Journal. Wizzard shares closed up 21.43 percent on the day at $4.25, but have traded in a 52-week range of $1.32 to $3.55.
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