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gfp927z   Tuesday, 06/12/12 10:33:13 AM
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Energy Solutions -

>>> The non-Dow component EnergySolutions (NYSE: ES ) was by far the worst performer today, down more than 50%, as the nuclear decontamination and decommissioning firm suddenly announced a change in leadership, with Val John Christensen out and David Lockwood becoming the new skipper. In addition to the sudden and unexpected change, EnergySolutions revised its annual outlook, from a range of $150 million to $160 million down to a range of $130 million to $140 million. Lowering a company's economic outlook or sudden changes in key personal typically causes sharp spikes in equity prices, but a 50% drop makes us believe there is more trouble on the horizon.

RadWaste Monitor, a trade publication, reported that EnergySolutions could be splitting the company by selling its nuclear waste government-projects group. The company lost a five-year, $121.2 million contract in March, which comes on the heels of a 45% drop over the past year of the government group's revenue. <<<


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