Stock Markets
Duke Energy celebrates Opening Day with the Tampa Bay Rays by pledging to raise funds for Florida customers facing financial hardships
- Duke Energy (NYSE:) to donate $1,000 to its Share the Light Fund ® agencies each time the Rays win a game
ST. PETERSBURG, Fla., March 27, 2024 /PRNewswire/ — When the Tampa Bay Rays win this season, so do Florida customers. Duke Energy will donate $1,000 to its Share the Light Fund to help families in need for every Rays regular-season game won.
The Share the Light Fund is a customer assistance program to help Florida residents pay for utility expenses, such as electric, , oil or wood. Employees, retirees, customers and Duke Energy shareholders contribute to these funds. Donations are then matched dollar for dollar, up to $500,000, by the Duke Energy Foundation.
“Year-round we provide this assistance and additional options for our customers facing financial hardship, but we especially look forward to this time of year when we can lean on the Rays and our community agencies to help us reach even more families and individuals in need,” said Melissa Seixas, Duke Energy Florida state president.
All funds collected are distributed each month to numerous Florida chapters of United Way and other social service agencies assisting Duke Energy Florida customers, based on need. Click here to find a listing of service providers by county.
Last year, approximately $1.2 million in energy bill assistance was distributed to qualifying Florida customers through the company’s Share the Light Fund.
Duke Energy also offers a number of tools and resources to help customers take control of their energy use and save money. Energy and bill management programs, including Usage Alerts, inform customers when their bills may be higher than normal so they can make adjustments before their bill arrives.
Some of the available programs include:
Free Home Assessment: Find ways to reduce your home’s energy use, learn how to lower your bill and see if you qualify for rebates and free energy-saving products at duke-energy.com/FreeHomeCheck.
EnergyWise ® Home: Save on your electric bill by getting up to $141 in annual bill credits while helping your community reduce energy use during periods of high demand. Find out if you are eligible at duke-energy.com/EWHSavings.
Budget Billing: Make budgeting easier with predictable monthly bills, regardless of your energy use or the weather. Plus, there are two convenient payment plans to choose from. Learn more at duke-energy.com/BudgetBilling.
Installment Plans/Payment Plans: Pay back balances over longer periods of time. Eligible customers can request flexible plans that give you more time to pay. Learn about the options at duke-energy.com/MoreTime.
Usage Alerts: Get more control over your electricity use and spending. If you have a smart meter, a mobile phone or an email address on file, you’ll automatically be enrolled to receive notifications showing how much electricity you’re using and how much it may cost, in time to adjust. Learn more at duke-energy.com/UsageAlerts.
Pick Your Due Date: With Pick Your Due Date, you can choose the date you want your energy bills to be due each month. Learn more at duke-energy.com/PYDD.
Due Date Extension: If you know ahead of time that you will miss your due date, this payment option may be for you. Extend your payment due date by up to 10 business days to avoid late fees. Learn more at duke-energy.com/ExtendDueDate.
Weatherization: This program is designed to help income-qualified customers save energy and reduce expenses through the installation of energy conservation measures in their homes. The program is available to single-family homes and multifamily units, both owners and renters with owner approval. Eligibility of participation is determined by the weatherization office and an in-home assessment. Learn more at duke-energy.com/Weatherization.
Customer Assistance: Some customers may qualify for financial assistance from various government and nonprofit programs for utility bills and other household expenses. Learn more at duke-energy.com/SpecialAssistance.
To learn more about these programs, including Share the Light Fund, visit duke-energy.com/SeasonalBills or call the Customer Care number listed on your energy bill.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 10,500 megawatts of energy capacity, supplying electricity to 1.9 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.
Duke Energy Foundation
The Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation is funded by Duke Energy shareholders.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2023 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook (NASDAQ:).
Media contact: Audrey Stasko
Media line: 800.559.3853
Macquarie has reaffirmed its expectation that the Federal Open Market Committee (FOMC) will implement a single 25 basis points rate cut following the latest U.S. consumer price index (CPI) data.
The headline CPI in December remained robust, increasing by 0.4% month-over-month, influenced by strong food and energy prices, continuing an accelerating trend that has been observed since mid-2024.
In contrast, the core CPI, which excludes volatile food and energy prices, showed a softer increase of 0.23% month-over-month, marking the lowest reading since July.
This was considered a positive development by Macquarie, especially since core PPI subcomponents released earlier in the week had indicated a potential for a higher inflation reading. The year-over-year core CPI inflation rate held steady at 2.9%.
Macquarie analysts anticipate that the core Personal Expenditures (PCE) price index, a preferred inflation measure by the Federal Reserve, will likely mirror the core CPI’s recent performance.
They also expect core CPI inflation to moderate in the first quarter of the year, aided by favorable base effects and monthly core readings similar to those of December. However, they caution that threatened tariffs could pose an upside risk to inflation beyond the current forecast horizon.
The investment bank maintains that the FOMC is likely to reduce interest rates by 25 basis points only once more, predicting that the most probable timing for this action would be in March or May.
Macquarie also notes that the risks are tilted towards a later date for the rate cut.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
HERNDON, Va. – Beacon (NASDAQ:BECN), a Fortune 500 distributor of specialty building products, has rejected an unsolicited acquisition proposal from QXO, Inc. (NASDAQ:QXO). The offer, dated November 11, 2024, to purchase all outstanding shares of Beacon for $124.25 per share in cash, was unanimously deemed insufficient by Beacon’s Board of Directors. According to InvestingPro data, QXO maintains a strong balance sheet with more cash than debt and a current ratio of 258.64, suggesting ample financial flexibility for potential acquisitions.
The Board, after thorough consultation with independent financial and legal advisors, concluded that the proposal significantly undervalues Beacon’s growth prospects and future value creation potential. Beacon’s Chair of the Board, Stuart Randle, stated that the offer fails to reflect the company’s strategic plan and its potential for growth, emphasizing that Beacon has produced a total shareholder return of over 200% in the past five years. This contrasts sharply with QXO’s market performance, which InvestingPro data shows has declined by nearly 85% over the past year, with particularly volatile stock movements.
Beacon has attempted to engage with QXO to discuss valuation, subject to a standard non-disclosure agreement (NDA), which QXO declined. The company also offered to limit confidentiality obligations and structured the NDA to allow QXO to participate in a proxy contest at the upcoming 2025 annual meeting of shareholders.
Julian Francis, President and CEO of Beacon, expressed confidence in the company’s growth trajectory and the execution of its Ambition 2025 strategy, which aims for above-market growth and operational excellence. While QXO shows promising revenue growth potential with InvestingPro forecasting 92.7% growth for the current year, analysts don’t expect profitability in the near term. Beacon anticipates revealing more about its long-term financial targets at an Investor Day scheduled for March 13, 2025. Get deeper insights into both companies’ valuations and growth metrics with an InvestingPro subscription, which offers exclusive financial health scores and detailed analysis.
J.P. Morgan is serving as Beacon’s financial advisor, with Sidley Austin LLP and Simpson Thacher and Bartlett LLP as legal advisors. Beacon, established in 1928, operates over 580 branches across the U.S. and Canada and is known for its private label brand TRI-BUILT® and the digital account management suite Beacon PRO+®.
The company advises shareholders that no action is needed at this time and plans to file relevant documents with the U.S. Securities and Exchange Commission (SEC) for the upcoming annual meeting.
This news is based on a press release statement from Beacon.
In other recent news, QXO, Inc. has been busy with noteworthy developments. The company’s stockholders approved a key executive compensation plan at the 2024 Annual Meeting, electing all the company’s nominees for director and ratifying the appointment of Marcum LLP as the independent registered public accounting firm for fiscal year 2024. In parallel, QXO has been actively seeking growth through acquisitions, as indicated by its proposal to acquire Beacon Roofing Supply (NASDAQ:), following a declined offer to take over Rexel (EPA:), a French electrical products distributor.
Additionally, QXO has announced the appointment of Ashwin Rao as the new chief artificial intelligence officer. Rao, with over three decades of experience in enterprise AI, is expected to lead QXO’s tech initiatives, including demand forecasting, inventory management, and e-commerce. This move aligns with QXO’s strategy to become a leading tech-forward entity in the building products distribution sector.
Goldman Sachs reiterated its Buy rating on QXO, further signaling confidence in the company’s growth prospects. However, it’s important to note that these plans involve inherent risks and uncertainties, and are not guarantees of future performance. These recent developments reflect QXO’s current plans and expectations, highlighting a period of strategic moves and appointments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Michael Catelani, the President, Chief Operating Officer, and Chief Financial Officer of Anixa Biosciences Inc. (NASDAQ:), recently purchased 9,289 shares of the company’s common stock. The $71 million market cap company maintains a strong financial position, with InvestingPro data showing a healthy current ratio of 8.54 and minimal debt on its balance sheet. The shares were acquired at a price of $2.15 each, resulting in a total transaction value of $19,971. Following this acquisition, Catelani now directly owns 44,500 shares of Anixa Biosciences. This transaction was reported in a recent SEC filing. The purchase comes as the stock trades near its 52-week low of $2.07, with analyst price targets ranging from $7 to $10. InvestingPro subscribers can access 8 additional key insights about ANIX’s financial health and market position.
In other recent news, Anixa Biosciences has made significant strides in its cancer research efforts. The company has reported a net loss of $3.1 million for the second fiscal quarter of 2024, less than the projected loss of $3.5 million. Analysts from EF Hutton and H.C. Wainwright have initiated and maintained a Buy rating for the company, despite H.C. Wainwright reducing the 12-month price target to $7.00.
Anixa Biosciences also announced a strategic decision to acquire as part of its treasury reserve assets, aiming to diversify its treasury and leverage the anticipated long-term value of digital currencies. In addition to this, the company is continuing its stock buyback program, reinforcing its commitment to increasing shareholder value.
In its ongoing clinical trials, Anixa Biosciences has successfully dosed the first patient in the third cohort of their Phase 1 trial of CAR-T therapy for ovarian cancer. The company, in collaboration with Cleveland Clinic, has shown promising results in its Phase 1 breast cancer vaccine trial with over 70% of patients exhibiting immune responses.
Other recent developments include the announcement of a share repurchase program and the addition of Dr. Sanjay Juneja to the Cancer Business Advisory Board. Anixa Biosciences has also received a Japanese patent for its breast cancer vaccine technology. These are among the recent developments in Anixa Biosciences’ pursuit of advancing cancer treatment and prevention.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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