FirstEnergy (FE) Tumbles Ahead of Federal Nod

FirstEnergy Corp.

shares fell 11.1% to $32.05 as Dow Jones reported that FirstEnergy and American Electric Power Company will need to receive federal approval for cost-shifting plans in Ohio. Barclays downgraded FirstEnergy from overweight to equal-weight and lowered the price target from $39.00 to $33.00. Share volume was 1.4 million, compared to an all-day average of 1.1 million