Constellation Energy Group (CEG)

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Banks might pull credit lines Constellation Energy Group Inc. (CEG) shares plunged $17.23, a decline of over 35%, to close at $30.76 on 16th Sept (Tuesday) on investor concerns that banks would pull the utility’s credit lines, Reuters reported. The cost to insure Constellation’s long-term debt soared 60%, a record high, according to Markit Intraday Constellation Energy Shares set to rise Barron's published an articles forecasting a 20 percent rise in CEG's profits in 2008. This is due to strong customer demand for energy fueling higher rates. Strong Q4 and FY07 Results CEG's 2007 earnings were in line with management's guidance and reaffirmed earnings guidance for 2008 at $5.25 to $5.75 per share and expect to be in the middle to upper end of the range.

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