OHIO

OHIO

FirstEnergy reports rise in fourth-quarter profit

AKRON — FirstEnergy Corp. said Tuesday its fourth-quarter profit rose 24 percent driven by higher revenues related to wholesale generation sales, lower operating and financing costs and a lower effective income tax rate.

FirstEnergy said its net income for the three months ended Dec. 31 amounted to $332 million, or $1.09 per share, on revenue of $3.2 billion, compared with a profit of $268 million, or 87 cents per share, on revenue of $3.1 billion a year earlier.

NATION

NYSE mulls easing rule on share-trading requirement

NEW YORK — With many major companies trading in penny-stock territory, the New York Stock Exchange is considering relaxing a rule that requires shares to trade above a dollar.

“That’s something that we’re considering, given the market environment,” said NYSE Euronext spokesman Raymond Pellechia.

Currently, an NYSE-listed company’s shares cannot remain below $1 over 30 consecutive days. If that happens, the company gets about six months to prove to the NYSE it can boost its stock price.

Associated Press