Sitting out an orderly energy transition could mean forgoing economic growth potential of 25% over the next two decades, the world's largest fund manager, BlackRock, said Thursday.
Jay Timmons, National Association of Manufacturers CEO, joined Yahoo Finance Live to discuss how Preisdent Biden can strengthen America's supply chain.
Shares of FirstEnergy Corp. shot up 9.5% toward a seven-month high in afternoon trading Thursday, enough to space the S&P 500's gainers, as investors seemed to focus more on billionaire activist investor Carl Icahn's plan to buy a stake in the electric utility than on the company's profit and revenue miss. The company disclosed in its 10-K filing with the Securities and Exchange Commission that it was notified that Icahn "has a present good faith intention to acquire voting securities" of the company, in an amount somewhere between $184 million and $919.9 million. The company said it didn't know if Icahn had already acquired shares or derivatives to buy shares, and doesn't know Icahn's intentions. Separately, the company reported fourth-quarter net earnings of $242 million, or 45 cents a share, after a loss of $111 million, or 20 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted EPS of 32 cents was below the consensus analyst estimate of 47 cents, according to FactSet. Revenue fell 7.4% to $2.5 billion, below the FactSet consensus of $2.9 billion. FirstEnergy's stock has tumbled 33.1% over the past 12 months, while the SPDR Utilities Select Sector ETF has lost 11.8% and the S&P 500 has gained 16.2%.