Early Hour Notable Stock Movers (AYE, AEE, ICE, PGN)

Allegheny Energy, Inc. (NYSE:AYE) fell 1.54% to $21.09 said Wednesday that first-quarter earnings were $88 million, or 52 cents a share, compared to $114 million, or 79 cents a share, in the same period last year. Adjusted first-quarter earnings were 61 cents. Revenue rose to $1.05 billion from $957 million. Analysts polled by FactSet Research estimated, on average, earnings per share of 69 cents.

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Ameren Corporation (NYSE:AEE) rose 0.27% to $25.71 after it said Wednesday its first-quarter profit fell to $102 million, or 43 cents a share, from $141 million, or 66 cents a share, in the year-ago period. Excluding one-time items, the St. Louis utility company said it earned $95 million, or 40 cents a share. Analysts polled by FactSet Research were looking for earnings of 39 cents a share, on average. Revenue in the recent quarter was flat at $1.92 billion. Ameren said is still expects 2010 earnings to be in the range of $2.20 to $2.60 a share, versus the Wall Street consensus of $2.37 a share. Shares of Ameren closed Tuesday at $25.64, down less than 1%.

IntercontinentalExchange, Inc. (NYSE:ICE) jumped 2.23% to $115.96 after it said on Wednesday that its first-quarter profit rose to $103.5 million, or $1.36 a share, compared to $72.2 million, or 98 cents a share a year ago. Analysts polled by FactSet Research had expected the company to earn $1.32 a share. Total revenue at the firm climbed to $281.6 million, from $231.6 million a year ago.

Progress Energy, Inc. (NYSE:PGN) climbed 0.42% to $40.29 after it said Wednesday its first-quarter net income rose 4% to $190 million, or 67 cents a share, from $182 million, or 66 cents a share, in the year-ago period. Adjusted earnings in the latest period totaled 75 cents a share. Revenue rose to $2.54 billion, from $2.44 billion. Wall Street analysts expected the utility company to earn 65 cents a share, on revenue of $2.49 billion, according to a survey by FactSet Research.

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