UPDATE: Duke Energy Reaches Deal with NC Utilities Commission; CEO to Retire - Shares Pop 2%

By MidnightTrader.com Staff,

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Duke Energy ( DUK ) is up 1.9% to $63.57 after it filed a settlement agreement with the North Carolina Utilities Commission.

In order to reach the agreement, DUK had to agree to various additional merger commitments relating to its recent merger with Progress Energy.

In addition, DUK president and CEO Jim Rogers announced his intent to retire from the company by the end of 2013, which is consistent with the expiration of his employment contract.

DUK is trading at $63.57 in a 52-week range of $59.63 - $71.13. Shares have increased 2% in the last 12 months.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Commodities
Referenced Stocks: DUK

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