(AES) The AES Corporation – Bear of the Day

The AES Corporation (AES) has been downgraded from Neutral to Underperform. The change in rating comes as the utility faces high exposure to foreign currency and increased political risks. Wholesale markets have also been weak of late due to the tepid global economy. The AES Corporation (AES), incorporated in 1981, is a global power company spread over 27 countries in five continents. AES Corporation operates in two lines of business Generation and Utilities.

The AES Corporation reported second quarter 2012 adjusted earnings per share (EPS) of $0.14, missing the Zacks Consensus Estimate of $0.26 and the year-ago figure of $0.28.

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