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Wednesday, October 24, 2007

Reader Paul M... Usec gets utility contract

Guess we know now what the bullish divergences were all about on the chart. Amazing how often stocks tend to tank into news. Must just be a bizarre coincidence. Yeah, that's the ticket. Thanks for bringing this one to my attention Paul!

Oct 24 (Reuters) - USEC Inc (USU.N: Quote, Profile, Research) said it signed a contract valued at about $400 million with Korea Hydro & Nuclear Power Co Ltd to sell separative work units of enriched uranium for the utility's light-water nuclear power reactors.

The new contract with the Seoul-based utility runs through 2013 and covers new deliveries of enriched uranium, as well as improved terms on existing commitments, USEC said. (Reporting by Jennifer Robin Raj in Bangalore)