On Thursday, Shares of TECO Energy, Inc. (NYSE:TE), surged 15.61% to $21.48, hitting its highest level.
While it is the long-standing policy of TECO Energy, not to confirm or deny market rumors, in response to media reports concerning a potential sale of the company, the company confirmed that it is exploring planned alternatives. TECO Energy has retained Morgan Stanley & Co. LLC to advise the company in connection with exploring such planned alternatives.
Given the preliminary nature of this exploration, neither the company nor any of its representatives will be providing any additional comments at this time. No assurance can be given that the company will determine to pursue a potential sale or enter into any definitive sale agreement. The company does not intend to make any further press release or declaration regarding these matters unless and until it enters into a binding, definitive agreement with respect to a sale.
TECO Energy, Inc., an electric and gas utility holding company, engages in the regulated electric and gas utility operations. It generates, purchases, transmits, distributes, and sells electric energy to retail customers, in addition to utilities and other resellers of electricity in West Central Florida; and has electric generating plants with a winter peak generating capacity of 4,668 megawatts.
Finally, U.S. Bancorp (NYSE:USB), ended its last trade with 0.72% gain, and closed at $45.86, hitting its highest level.
U.S. Bancorp, stated net income of $1,483 million for the second quarter of 2015, or $0.80 per diluted common share, contrast with $1,495 million, or $0.78 per diluted common share, in the second quarter of 2014.
Highlights for the second quarter of 2015 comprised of:
- Return on average assets of 1.46 percent and average common equity of 14.3 percent
- Growth in average total loans of 4.0 percent over the second quarter of 2014 and 0.7 percent on a linked quarter basis (not taking into account student loans, which were reclassified to held for sale at the end of the first quarter of 2015)
- Growth in average total commercial loans of 11.0 percent over the second quarter of 2014 and 2.1 percent over the first quarter of 2015
- Growth in average commercial and commercial real estate revolving commitments of 10.5 percent year-over-year and 2.0 percent over the preceding quarter
- Growth in total other retail loans of 5.7 percent over the second quarter of 2014 and 1.7 over the first quarter of 2015 (not taking into account student loans)
- Strong new lending activity of $54.2 billion during the second quarter, counting:
- $29.7 billion of new and renewed commercial and commercial real estate commitments
- $3.1 billion of lines related to new credit card accounts
- $21.4 billion of mortgage and other retail loan originations
- Growth in average total deposits of 8.9 percent over the second quarter of 2014 and 2.6 percent on a linked quarter basis.
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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