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CNBC Utilities Page Wires

  • BOSTON/ NEW YORK, May 23- Jana Partners said on Wednesday it was not invested in Casey's General Stores Inc after speculation that the hedge fund had built a stake in the company helped push its stock price up more than 9 percent in afternoon trading. Bloomberg earlier published a story saying the New York- based hedge fund had built a small stake in the company.

  • The Ohio- based Spangler Candy Co. had the winning $18.83 million bid for the New England Confectionery Co. at a federal bankruptcy auction in Boston. Spangler Candy Co. and three other bidders all indicated they would keep Necco operating at its current location in Revere, just north of Boston, at least through the fall. Spangler Candy Co. makes Dum Dums...

  • BRASILIA, May 23- Brazilian stocks sank on Wednesday after comments by U.S. President Donald Trump reignited global trade worries, while Mexico's peso strengthened on news that talks have continued to rework the North American Free Trade Agreement. The Mexican peso strengthened about 1 percent after reports pointed towards movement on the renegotiation of...

  • RACINE, Wis. _ Modine Manufacturing Co. on Wednesday reported fiscal fourth-quarter profit of $17.6 million. On a per-share basis, the Racine, Wisconsin- based company said it had net income of 34 cents. For the year, the company reported profit of $22.2 million, or 43 cents per share.

  • HOUSTON _ Bristow Group Inc. on Wednesday reported a loss of $100.9 million in its fiscal fourth quarter. The Houston- based company said it had a loss of $2.84 per share. For the year, the company reported that its loss widened to $195.7 million, or $5.54 per share.

  • SAN JUAN, Puerto Rico— The executive director of a federal control board overseeing Puerto Rico's public finances says there will be a smaller surplus available for creditors because of a new lawsuit filed by a bond insurance company opposing a fiscal plan that aims to pull the U.S. territory out of its economic crisis. Executive director Natalie Jaresko said...

  • Scott Halpern of the University of Pennsylvania. He led the study, published Wednesday by the New England Journal of Medicine. It was sponsored by the Vitality Group, which runs company wellness programs.

  • In a story May 22 about legislation to ease bank regulation, The Associated Press reported erroneously that the bill allows lenders to use alternatives to the dominant FICO system for determining consumers' credit scores. Lenders already are allowed to use alternatives to FICO, except in selling mortgages to housing finance giants Fannie Mae and Freddie Mac,...

  • *Bain beats rival proposal from Sound Point Capital. Trevi has done foundation work on the New Library of Alexandria in Egypt, the Tower of Pisa and the sphinxes of Abu-Simbel and is now working on shoring up Iraq's Mosul Dam. Bain Capital Credit has won the auction, the sources said, beating a rival proposal by U.S. investment fund Sound Point Capital to land one of...

  • Target Corp., down $4.30 to $71.17. United Technologies Inc., down 29 cents to $127.58. Lowe's Cos., up $8.94 to $94.69.

  • WASHINGTON, May 23- President Donald Trump, who has repeatedly pledged to revive American manufacturing, said on Wednesday that "big news" was coming that would be welcomed by U.S. auto workers, and he suggested it was somehow linked to NAFTA trade talks. The Wall Street Journal reported, after Trump had tweeted and mentioned the issue again to journalists without...

  • *Turks go to the polls on June 24. ISTANBUL, May 23- Running a market stall in Istanbul's working class Fatih district, Ozgur Kamis struggles to make a living as the cost of his stock rises day by day- and he reckons it will only get worse after elections in June. Five-dollar tracksuit bottoms that cost 23 lira yesterday cost him 24.5 lira today.

  • President Donald Trump's administration is weighing a plan that would impose new tariffs on imported vehicles on national security grounds, the Wall Street Journal reported on Wednesday. The administration is considering starting a probe of imported cars under a legal provision known as Section 232, possibly applying tariffs at the end, the Journal...

  • SAO PAULO, May 23- Brazil's agriculture sector is one of the hardest hit by a hike in diesel prices that has provoked a nationwide trucker strike, according to an analysis from a leading university released on Wednesday. The University of Sao Paulo's College of Agriculture said that as compared to early 2017, farmers are now paying up to 9.05 reais more per tonne...

  • WASHINGTON, May 23- The Federal Reserve will consider a proposal to modify the "Volcker Rule" banning proprietary trading by banks at a May 30 meeting of its board, the central bank announced on Wednesday. Congress passed Dodd-Frank in response to the 2007-2009 financial crisis, placing stronger restrictions on bank activities in a bid to eliminate the need for...

  • NEW YORK, May 23- U.S. stocks ended with small gains on Wednesday after minutes from the Federal Reserve's latest meeting suggested higher inflation may not result in faster interest rate hikes. "The market is probably breathing a little bit of a sigh of relief knowing that inflation even a bit above 2 percent may not necessarily mean a faster rate of increases,"...

  • RICHMOND, Va. _ Universal Corp. on Wednesday reported fiscal fourth-quarter net income of $30.5 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Richmond, Virginia- based company said it had net income of $1.20. Universal Corp. shares have fallen almost 8 percent since the beginning of the year.

  • U.S. stocks turned higher Wednesday after the Federal Reserve indicated it's not in a hurry to raise interest rates too quickly. Retailers and technology companies led the way as the market erased some early losses. The Russell 2000 index of smaller-company stocks edged up 2.37 points, or 0.1 percent, to 1,627.61.

  • MEXICO CITY, May 23- Mexico's economy picked up speed in the first quarter, official data showed on Wednesday, driven by robust service-sector activity and solid advances in manufacturing and agriculture. Latin America's second biggest economy grew 1.1 percent in seasonally adjusted terms compared with the previous three-month period, the national...

  • SAN FRANCISCO, May 23- Negative news stories about Tesla Inc have hit "fever pitch", but the electric carmaker's stock price is likely to surge as output of its Model 3 sedan improves, according to an analyst research report. Following the publication of Baird Equity Research analyst Ben Kallo's note on Wednesday, Tesla Chief Executive chimed in with a series of...