Xylem Inc., the water company whose pumps helped clean tunnels in New York flooded by Hurricane Sandy, surged the most since being spun off from ITT Corp. two years ago after raising annual earnings and sales forecasts.
Brandon Freiman was sizing up water investments for KKR & Co.’s $4.6 billion infrastructure fund in 2011 when he came across a debt-burdened New Jersey city that Tony Soprano skirts by to open the Time Warner Inc. HBO series.
Xylem Inc., which replaced its chief executive officer earlier this month, rose the most since July after Barclays Plc upgraded the stock, saying successor Steve Loranger will be more aggressive in slashing costs.
American Water Works Co., the largest publicly traded water company in the U.S., sees its growth being spurred by expanding wastewater services as systems age and municipalities juggle competing demands for funds.
The U.S. Bureau of Reclamation, which manages water in 17 Western states, announced its first- ever water-release reduction from Lake Powell to Lake Mead, citing the worst 14-year drought period in 100 years.
As black bunting adorned the Massachusetts Institute of Technology police station for slain officer Sean Collier, neighbors gathered in the Boston suburb of Somerville, bringing water, food and well wishes for his roommates and officers who stood guard in front of his house.
Summit Investments, as closely held Summit Midstream Partners LLC is known, will spend $60 million to build an additional 145 miles (233 kilometers) of pipelines in the Bakken oil-shale region, the company said in a statement today.