Xcel is revealed to have spend over $1.7 million in the first half of 2007 to lobby the federal government in energy matters. Shares fall as investors wonder where the money could have been put to better use.
Xcel asks the Minnesota government for permission to build a 100MW wind farm near Austin, Minnesota. Shares drop as investors anticipate increased investment spending.
Xcel settles its IRS litigation by agreeing to pay less than 20% of the previously estimated amount and stopping its corporate owned life insurance program. Stocks rise as investors are relieved to find the settlement amount is far less than originally believed.