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Markets · Investing · Business
Finance
Why NorthWestern Energy Group Stock Soared on Wednesday
The company it's merging with announced a splashy new power supply deal with a tech industry titan.
In business, having the right partner can make all the difference. That's surely what officials at NorthWestern Energy Group(NASDAQ:NWE) were thinking on Wednesday, as news from a company it's merging with lifted its stock by association. NorthWestern's shares ended the day more than 7% higher.
The company in question is NorthWestern's fellow electric and natural gas utility, Black Hills(NYSE:BKH). Just after market close on Tuesday, Black Hills announced it had signed a series of agreements with Alphabet's (NASDAQ:GOOG)(NASDAQ:GOOGL) Google to supply power to a planned data center in Cheyenne, Wyoming.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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