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Wednesday, February 13, 2013

CORRECTED-Duke Energy profit rises after merger, (NYSE: DUK)

Duke Energy Corp reported its second consecutive quarterly rise in profit on Wednesday following its acquisition of rival Progress Energy last summer."We're in very strong position and have started to harvest the savings that came about from the merger," CEO Jim Rogers told Reuters.The largest power company in the United States said net income for the fourth quarter was $586 million, or 62 cents per share, compared with $333 million, or 65 cents per share, a year earlier.Excluding special items, Duke earned 70 cents per share, beating the analysts' average estimate of 64 cents.

Duke Energy Corporation (Duke Energy) is an energy company. Shares of DUK traded higher by 0.05% or $0.0349/share to $68.77. In the past year, the shares have traded as low as $59.63 and as high as $71.13. On average, 3482770 shares of DUK exchange hands on a given day and today's volume is recorded at 751993.