On Friday, PG&E Corporation (NYSE:PCG)’s shares inclined 1.55% to $48.44.
Pacific Gas and Electric Company thanked the Governor and the legislative authors of Senate Bill 350 for their vision and commitment in ensuring that California continues to lead the nation in significantly reducing greenhouse gas (GHG) emissions. With the passage of the bill late Friday night, SB 350 enhances the state’s Renewables Portfolio Standard (RPS) to 50 percent by 2030, and doubles state energy efficiency aims. The bill supports the Governor’s April Executive Order setting a new aim to reduce GHG emissions by 40 percent below 1990 levels by 2030.
PG&E fully supported SB 350 as an important step toward achieving California’s aggressive climate change and clean energy aims. The utility has made noteworthy contributions to the state’s progress and is well on its way to meeting California’s current renewable energy target of 33 percent ahead of plan. PG&E appreciates the flexibility the bill provides in banking of excess renewable energy purchases, which will allow it to enhance its renewable energy deliveries in a cost-effective way for customers.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California. The company’s electricity distribution network comprises of 141,700 circuit miles of electric distribution lines, 55 transmission switching substations, and 603 distribution substations; and electricity transmission network comprises 18,100 circuit miles of interconnected transmission lines and 91 electric transmission substations. Its natural gas system comprises of about 42,700 miles of distribution pipelines, about 6,400 miles of backbone and local transmission pipelines, and various storage facilities.
Public Service Enterprise Group Inc. (NYSE:PEG)’s shares gained 1.13% to $39.32.
Since January, PSEG Long Island residential customers have purchased more than two million ENERGY STAR® light bulbs and fixtures with incentives offered by PSEG Long Island. These bulbs are predictable to save customers $21 million or 106 million kilowatt hours per year. For the first time, a majority of the discounted bulbs have been light emitting diodes (LEDs) rather than compact fluorescent lamps (CFLs), which had been the preferred replacement for incandescent light bulbs for many years. Through August, nearly 1.1 million discounted LED bulbs have been purchased.
By upgrading a single incandescent light bulb to a LED, customers can save about $230 over the lifetime of each bulb. LEDs use at least 75 percent less energy than incandescent bulbs and are predictable to last a minimum of 25,000 hours – that’s more than 23 years for bulbs that are on for 3 hours a day.
Public Service Enterprise Group Incorporated, through its auxiliaries, operates as an energy company primarily in the northeastern and Mid Atlantic United States. The company operates nuclear, coal, gas, oil-fired, and renewable generation facilities with a generation capacity of about 13,146 megawatts. It sells electricity, natural gas, emissions credits, and a series of energy-related products that are used to optimize the operation of the energy grid.
At the end of Friday’s trade, Geron Corporation (NASDAQ:GERN)‘s shares surged 4.44% to $3.53.
Geron Corporation (GERN) declared the publication of two papers in The New England Journal of Medicine (NEJM) in which the company’s telomerase inhibitor, imetelstat, was shown to have disease-modifying activity thought to be associated with selective inhibition of the malignant progenitor cell clones responsible for the underlying disease in two hematologic myeloid malignancies, essential thrombocythemia (ET) and myelofibrosis (MF). The papers are accessible online in the September 3rd issue at www.NEJM.org.
In the Phase 2 clinical study evaluating imetelstat in ET, all patients achieved a hematologic response, with the majority achieving a hematologic complete response. Rapid and substantial molecular responses observed in the study suggested therapeutic activity of imetelstat on the growth of malignant progenitor cell clones that drive ET. The safety and efficacy results stated in the NEJM publication are compriseent with the preliminary data from this study formerly presented in part at the annual meetings of the American Society of Hematology in December 2012 and December 2014, and the European Hematology Association annual meeting in June 2013.
Geron Corporation, a clinical stage biopharmaceutical company, focuses on the development of telomerase inhibitor, imetelstat, for treating hematologic myeloid malignancies. It has partnership and license agreement with Janssen Biotech, Inc. to develop and commercialize imetelstat worldwide for indications in oncology, counting hematologic myeloid malignancies and other human therapeutic uses. The company was founded in 1990 and is based in Menlo Park, California.
AmerisourceBergen Corp. (NYSE:ABC), ended its Friday’s trading session with 2.26% gain, and closed at $104.34.
AmerisourceBergen Corporation (ABC) recently declared that its Board of Directors has elected D. Mark Durcan, 54, to its Board of Directors, effective right away. Mr. Durcan fills the vacancy created by Edward E. Hagenlocker’s retirement at the annual meeting of stockholders on March 5, 2015.
Mr. Durcan is presently the Chief Executive Officer and a director of Micron Technology, Inc., a global leader in advanced semiconductor systems. Mr. Durcan, a 30-year veteran of Micron, has served as Chief Executive Officer and a director since February 2012. He served as President from June 2007 until February 2012, during which time he continued in his role as Chief Operating Officer, a position he assumed in February 2006. He served as Chief Technology Officer from June 1997 to February 2006. Before his appointment as Chief Technology Officer, he held various other positions with Micron and its auxiliaries.
AmerisourceBergen Corporation sources and distributes pharmaceutical products to healthcare providers, pharmaceutical and biotech manufacturers, and specialty drug patients in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to various healthcare providers, counting acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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