Tuesday, September 16, 2008

Constellation Energy Drops on fears of Lehman Brothers Debt

Yesterday shares in Constellation Energy plunged on speculation that Constellation was owed money by Lehman Brothers, who just entered bankruptcy proceedings.

Constellation Energy Group worked to reassure Wall Street yesterday that its wholesale energy and credit relationships with Lehman Brothers will not have a "material adverse effect" on the Baltimore company, but that obviously did not work as Constellations dropped another 35% today

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