Blackout That Darkened NYC Is Brushed Off by ConEd Investors
- Utility’s shares were little changed in early trading Monday
- Hours-long outage caused no major injuries or property damage
A large section of Manhattan's Upper West Side and Midtown neighborhoods are seen in darkness during a major power outage on July 13.
Photographer: Scott Heins/Getty ImagesThis article is for subscribers only.
Consolidated Edison Inc. investors are largely shrugging off the power failure that crippled much of Manhattan over the weekend, brought the subway system to a halt and darkened Times Square.
Shares in the New York City-based utility were down less than 1% at 9:57 a.m. in New York. That’s likely because the power outage was relatively brief and there weren’t any major injuries or property damage, said Kit Konolige, a Bloomberg Intelligence utility analyst.