Con Edison Posting Notable Loss After Pricing Stock Offering

(RTTNews) - After gapping open lower, shares of Consolidated Edison, Inc. (ED) have seen some further downside during the trading session on Thursday. Con Edison is currently down by 3.1 percent after ending the previous session at its best closing level in nearly two months.

The pullback by Con Edison comes after the energy delivery company announced the pricing of an offering of 13.6 million of its common shares at $77.00 per share. Shares of Con Edison ended Wednesday's trading at $79.42.

Con Edison said the offering is expected to close on November 19, 2018, subject to customary closing conditions.