FirstEnergy (NYSE: FE) should provide a boost to utilities exchange traded funds (ETFs) on Tuesday after the company announced quarterly results and offered a long-term profit outlook that had Wall Street salivating.
The company after Monday’s closing bell said it expects to deliver earnings of between $3.20 and $3.50 a share each year from 2011 through 2013.
FirstEnergy shares jumped nearly 6% in after-hours trade Monday.
Sector ETFs that hold the stock include First Trust Utilities AlphaDEX (NYSEArca: FXU), Utilities Select Sector SPDR Fund (NSYEArca: XLU) and iShares Dow Jones U.S. Utilities (NYSEArca: IDU).
Utilities Select Sector SPDR Fund
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