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Utilities Sector Losers on April 22

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Utilities sector remains stable

After falling by 0.9% on April 21, the Utilities Select Sector SPDR ETF (XLU) posted marginal gains of 0.2% on Wednesday, April 22. The ETF closed at $44.45 on April 22 with a market capitalization of $6.5 billion. The broad based SPDR S&P 500 (SPY) gained 0.5% to close at $210.63 with a market capitalization of $179.3 billion.

While the utilities ETF was steady and the broader market gained, there were some losers in the utilities sector.

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Top losers

The utilities sector fared better on April 22. Compared to 38 on the previous day, only 15 stocks declined. The following were the top gainers:

  • Covanta Holdings (CVA): CVA was the biggest loser of the day with a 2% drop. The stock closed at $21.54 with a market capitalization of $2.9 billion. The company is different from other conventional utilities, as it focuses on generating energy from waste. The company reported its 1Q15 earnings yesterday and reported wider losses and lower EBITDA.
  • NRG Energy (NRG): NRG lost 1.6% to end the day at $25.07 with a market capitalization of $8.5 billion.
  • Edison International (EIX): One of the top losers on April 21, EIX continued to drop. The stock dropped 0.8% to $60.1 with a market capitalization of $19.6 billion.
  • ITC Holdings (ITC): ITC was the biggest loser on April 21. The stock extended its losses by dropping 0.6% on April 22. The stock closed at $35.62 with a market capitalization of $5.5 billion.
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