Thursday, June 01, 2006

NRG Stock Surges

Independent power producer NRG Energy Inc. generated some heat around its own stock Wednesday after rejecting Mirant Corp's $8 billion takeover bid.

Shares of Princeton, N.J.-based NRG soared as much as 19% early Wednesday to hit a new 52-week intraday high of $51.38 that put it among the most actively traded stocks on the New York Stock Exchange. NRG shares finished the session with a 15.7% gain for the day at $49.75.