Kit Norton of Investor Business Daily reports that Constellation Energy (CEG) saw its stock rise after securing a 10-year, $840 million contract with the U.S. General Services Administration to supply power to federal agencies. Constellation’s stock surged 8.5% on Thursday, alongside gains in other nuclear energy stocks. Norton writes:
Constellation Energy (CEG), a top nuclear energy provider, received several bullish analyst comments after the S&P 500 component announced a 10-year $840 million contract with the U.S. General Services Administration to supply power to facilities of more than 13 government agencies.
Constellation Energy stock rose early Friday after leading nuclear power stocks sharply higher Thursday. […]
The $840 million government contract begins in April 2025 with Constellation Energy set to supply energy to the Federal Reserve System, the Social Security Administration and the Army Corps of Engineers among other facilities. Constellation Energy was also awarded a separate a $172 million energy savings performance contract to improve energy efficiency. […]
In September and October, Amazon.com (AMZN), Alphabet (GOOGL) and Oracle (ORCL) also all announced decisions to invest in the developing small modular reactor nuclear technology.
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