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Constellation Energy stock soars to pace S&P 500 gainers after Democrats' deal on climate spending

Shares of Constellation Energy Corp. (CEG) charged up 15.9% in afternoon trading Thursday, enough to pace the S&P 500's gainers, in the wake of an agreement on the Democrats' spending bill, that includes $369 million in climate change-fighting spending. Constellation Energy, which separated from Exelon Corp. (EXC) on Feb. 1, boasts that it is the U.S.'s largest producer of carbon-free energy. The company said Wednesday that it pledges to achieve 95% carbon-free electricity by 2030 and 100% by 2040. The stock was headed for the biggest one-day gain since it started trading on its own. It has gained 5.0% over the past three months, while the S&P 500 has slipped 5.0%.

-Tomi Kilgore

 

(END) Dow Jones Newswires

07-28-22 1355ET

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