- Guides FY08 ongoing EPS $0.13-0.18 v $0.59e
- Guides FY09 ongoing EPS $0.45-0.75 v $0.97e
- Cuts quarterly dividend to $0.125 from $0.23
- GAAP earnings include non-cash impairment charges totaling $140.7M, after income tax impacts. The charges, which are the result of the annual review of the fair market value of intangible assets, primarily goodwill, were recorded at three subsidiaries - PNM, TNMP and First Choice Power.
- To pursue options for First Choice Power.

Other headlines for [PNM]

• PNM 11/5/2008 06:01am
  PNM Resources Inc Reports Q3 $0.13 v $0.13e (ex-items), R $607.1M v $616.5Me- Guides FY08 EPS $0.13 - $0.28 v $0.12e *note on 8/11 Guides FY08 ongoing EPS $0.13-0.18 v $0.59e - Guides FY09 ongoing EPS $0.45-0.75 v more...
  
• PNM 10/29/2008 08:40am
  PNM Resources Inc Shares cut to hold from buy at Soleil, price target $9.75
  
• 10/21/2008 06:38am
  Merrill cuts price targets on numerous electric utilities names- AEP price target cut to $35 from $42, maintains buy rating - EXC price target cut to $65 from $85, maintains buy rating - FE price more...
  
• PNM 10/21/2008 06:34am
  PNM Resources Inc Merrill Lynch Cuts PNM to Neutral from Buy, price target: $10.50
  
• PNM 10/2/2008 06:10am
  PNM Resources Inc Reports it has stakes in three electricity services firms impacted by Hurricane Ike-TNMP unit sees Impact of the hurricane to result in power restoration costs in the range of $30M to $35M - First more...
  

Utilities sector headlines

• NG.UK Today 02:52am
  National Grid PLC CEO Holiday: Debt may rise by £1B by end of March -conf call- UK national gas storage currently 'full to the brim' - Firm has been able to access credit markets - Interest payments are +10-15 bps more...
  
• NG.UK Today 02:02am
  National Grid PLC Reports H1 Pretax £558M v £659Me; Rev £6.07B v £5.58Be; guides FY08/09 in line with prior expectations- Net financing costs at £524M, +86% y/y - Interim div increased to 12.64P v 11.70P previous more...
  
• SPN.AU Yesterday 04:32pm
  SP Ausnet Reports H1 EPS A$0.79 v A$2.91 y/y, Sales A$635.5M
  
• CV Yesterday 04:04pm
  Central Vermont Public Service Corp Prices 1.19M secondary shares at $19.00 (in line with the rumored price)- Note: This is 11.5% of co.'s shares outstanding
  
• UNF.SP Yesterday 08:10am
  Union Fenosa Targets 10% of Portugal liberalized power market