Friday, November 7, 2008

ENERGY

AES, an Arlington power producer with operations in more than two dozen countries, cut its 2008 adjusted earnings estimate by 9 cents a share, to $1.07, to reflect currency transaction losses, mostly in the Philippines and Chile.

Sirius XM Radio said it was in talks with banks to refinance debt due next year, and it lowered its forecast for subscriber growth after U.S. car sales plummeted. It faces $1.1 billion in loan repayments in 2009.

Constellation Energy Group, a Baltimore-based power marketer, reported a third-quarter loss of $225.7 million as it wrote down the value of its generating and trading business. Constellation made a profit of $251.4 million in the corresponding period a year earlier. Sales fell 9.1 percent, to $5.32 billion.

Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.