The Baltimore Sun from Baltimore, Maryland • A7

SATURDAY, JUNE 2, 2018 NEWS THE BALTIMORE SUN 7 Trump order to aid coal, nuclear plants 1 But industry groups blast his directive as federal intervention By Matthew Daly Associated Press WASHINGTON President Donald Trump on Friday directed Energy Secretary Rick Perry to prepare "immediate steps" to bolster struggling coal-fired and nuclear power plants to keep them open. Trump believes that keeping America's energy grid secure "protects our national security, public safety and economy from intentional attacks and natural disasters," White House press secretary Sarah Huckabee Sanders said in a statement. Impending retirements of "fuel-secure" power plants that rely on coal and nuclear power are harming the nation's power grid and reducing its resilience, Sanders said. The directive comes as "This prudent stop-gap measure" will allow coal and nuclear plants to remain open as the department takes further steps to secure the grid, the memo said. Among those arguing for federal action is Jeff Miller a GOP fundraiser who has served as an adviser to Perry and other Republicans and ran Perry's unsuccessful presidential campaign in 2016.

Miller is lobbying for FirstEnergy Solutions, a bankrupt power company that relies on coal and nuclear energy to produce electricity. Ohio-based FirstEnergy is the largest customer for Murray's Ohio-based coal company and has joined with Murray to seek federal help. Michael Panfil, director of federal energy policy for the Environmental Defense Fund, called Trump's directive "an unprecedented, illegal government handout" to the coal and nuclear industries. ar plants that have struggled to compete with natural gas and renewable energy sources such as wind and solar power. The plan would exempt power plants from obeying a host of environmental laws and spend billions to keep coal-fired plants open.

A diverse group of energy industry groups including oil, natural gas, solar and wind power condemned the proposal, saying it would raise energy prices and distort markets. "Unprecedented government intervention in the energy markets to support high-cost generation will hurt customers by taking more money out of their pockets rather than letting people keep more of what they earn," said Todd Snitchler of the American Petroleum Institute, the top lobbying group for the oil and gas industry. But Robert Murray, chairman and CEO of Murray Energy the nation's largest privately owned coal company, hailed the White House announcement. Murray has been seeking emergency action to boost his industry since last year and has met with Trump to argue that federal help was needed to avert thousands of layoffs and maintain the reliability of the electric grid up and down the East Coast. "We support all efforts to ensure the security of our nation's electric power supply, which is critical to the reliability of our electric power grids, to low-cost electricity and to our national defense," Murray said Friday.

The draft plan calls for the Energy Department to exercise emergency authority under a pair of federal laws typically reserved for wars or natural disasters. The plan calls for Perry to use the Federal Power Act and the Defense Production Act to temporarily delay retirements of coal and nuclear plants. LUKE SHARRETTBLOOMBERG NEWS President Donald Trump's directive could help coal-fired power plants such as this one in South Carolina. the Trump administration considers a plan to order operators of the nation's power grid to buy electricity from coal and nuclear plants to keep them open. The plan would direct grid operators to buy power from coal and nuclear plants for two years to ensure grid reliability, "promote the national defense and maximize domestic energy supplies." The Energy Department action, if ordered, would represent an unprecedented intervention into U.S.

energy markets. A draft memo urges federal action to "stop the further premature retirements of fuel-secure generation" from coal and nucle Legg Mason sets aside $67 million to resolve Libya investigation software developers in each metropolitan statistical area and divided it by the number of active job seekers in that area to determine the "opportunity index." Researchers also looked at median software engineer salaries for each city, provided by PayScale, and combined them with cost-of-living data from AreaVibes. A software engineer in Baltimore has a real adjusted salary of $77,322, ninth-best on the list The cost of living is equal to the national average, based on data provided by AreaVibes. But Baltimore ranked first in "opportunity index," or the number of available software developer jobs divided by active job seekers. In top-ranking San Antonio, software engineers earn a real adjusted salary of $89,621, the second-highest salary on the list Cost of living in that city is 14 percent below national average, while opportunity index ranked third.

The median national salary for software engineers this year is $82,000, according to data from PayScale. But the study says fewer recent graduates are looking for jobs in Silicon Valley because housing is not affordable there. Cities that made the final list had the best opportunities as well as the most favorable salaries and cost of living. lorraine.mirabellabaltsun.com twitter.comlmirabella Baltimore called good for software engineers By Lorraine Mirabella The Baltimore Sun Baltimore is one of the top cities in the United States for software engineers, a new study shows. The city ranked third among places where software engineers are most in demand and where their paychecks go furthest, according to a survey by Spare-Foot, an online self-storage marketplace, and ZipRecruiter, an online employment site.

San Antonio, Texas, ranked first and Pittsburgh second. "Baltimore is in need of software engineers, and with top ten rankings in pay and cost of living, it's hard to imagine those jobs won't get filled soon," the study said. The study, using ZipRecruiter data from the past 30 days, compared the number of ees of Permal who left that firm four or more years ago," the company said in the SEC filing. Mary Athridge, a Legg Mason spokeswoman, said she could not comment on the matter. Qaddafi's government fell in the Arab Spring of 2 OIL and he was killed later that year.

The settlement is not expected to lead to any restrictions on the company's or its affiliates' business activities, Legg said in the SEC filing. The firm took a $67 million charge to earnings in the year that ended March 3L partly reflecting net revenues of about $31 million that Permal earned managing the Libyan assets. The settlement is subject to final review and approval of the Justice Department, the SEC commissioners and the company's board and may be higher, Legg said. Legg acquired Permal in 2005. In May 2016, it merged the hedge fund platform with New York-city based Enrust Capital, investing about $400 million in the hedge fund manager to create EnTrust Permal.

lorraine.mirabellabaltsun.com twitter.comlmirabella By Lorraine Mirabella The Baltimore Sun Legg Mason expects to pay $67 million to settle a U.S. probe of one of its affiliates that managed investments for the Libyan government during the rule of Muammar el-Qaddafi. The Baltimore-based money management firm is negotiating with the U.S. Department of Justice and the Securities and Exchange Commission to resolve an investigation under the Foreign Corrupt Practices Act, the company said in a filing this week with the SEC. Enacted in 1997, the law prohibits bribes of foreign officials to obtain business.

Federal investigators looked into Legg's former Permal Group, which managed investments of Libyan "governmental entities" from 2005 to 2007 in structures set up by a third-party financial institutions. All investments were terminated no later than 2012, the report said. "The matter does not relate to any of our or our affiliates' current business activities or client relationships and has focused on the actions of former employ Exchange key: NNYSE, 0NASDAQ Stocks closed higher Friday, clawing back all of the ground lost earlier in the week. Investors cheered new data showing U.S. employers added 223,000 jobs last month, more than economists expected and a pickup from April.

Lululemon Athletica LULU VMware Technology companies led the way higher, as they have all year. Health care companies, banks and retailers also notched solid gains. Utilities and consumer goods companies lagged the broader market. VMW Big Lots BIG 45.93 A8.45 or 6.2 The cloud computing company's quarterly results easily beat analysts' forecasts. Close: S38.69T-2.22 or The discount retailer issued a weak forecast after reporting earnings well below what investors expected.

or 16.3 The high-end yoga apparel maker reported earnings and sales that came in well ahead of analysts' esti mates. STOCK XCHG. CLOSE CHG. STOCK XCHG. CLOSE CHG.

STOCK XCHG. CLOSE CHG. Adams Divers Eqty 15.41 .19 Gen Dynamics 203.47 1.76 PHH Corp 10.81 .01 Adams Nat Rescs Fd 20.19 .10 General Motors Co 43.20 .50 PNC Financial 145.12 1.71 Aegon NV 6.31 .10 Glen Burnie Bancorp 11.70 .06 T. Rowe Price 122.90 1.48 53.20 .70 Hannon Armstrong 18.38 .04 Procter Gamble 73.45 .28 Becton Dickinsn 224.94 3.35 Honeywell Intl 150.09 2.18 Sandy Spring Bcp 42.07 .52 Berkshire Hath A 289200 2000 Howard Bancorp I nc 17.50 .20 Severn Bancorp 8.00 .10 CSX Corp 65.44 .79 KEYW Holding Corp 9.21 Sinclair Bdcst 27.70 .30 Ciena Corporation 23.41 .36 Kratos Defense Sec 11.27 .08 Swst Airlines 50.96 Cisco Syst 43.66 .95 Legg Mason 37.62 .35 Stanley Black Deck 141.58 2.34 Comcast Corp A 31.26 .08 Lockheed Martin 316.63 2.09 Suntrust Bks 68.50 .99 Corp Office Prop 27.19 Bank 174.68 2.60 TESSCOTech 18.00 Cotylnc 13.11 100.51 Tailored Brands 30.38 ExelonCorp 40.99 Medifastlnc 149.01 2.52 Textron Inc 67.20 .62 FNBCorpFLpfE 27.90 Northrop Grumman 329.99 3.94 Tronclnc 16.19 .15 FTI Consulting 62.50 .51 Old Line Bancshares 34.39 .01 Under Armour Inc 21.36 .46 Fulton Financial 17.25 Omega Hlthcre 30.38 Under Armour Inc 19.33 .41 GP Strategies 19.25 unch. Oracle Corp 47.35 .63 Univ Secur Inst 1.33 GSE Systems 3.20 .07 Orbital ATK Inc 133.71 Verizon Comm 47.81 .14 $160 140 50 $140 120 100 80' 60 40 120" 100 A A 30 $165.00 $36.20 MAM 52-week range $64.42 52-week range 52-week range $51.30 $123.84 $85.48 Vol.

:14.1m (6.8x avg.) Mkt. Cap: $15.4 Vol. :4.3m (2.2x avg.) Mkt. Cap: $15.4 Vol. :11.0m (6.5x avg.) Mkt.

Yield: 3.1 Based on total assets FUND NEW YORK STOCK EXCHANGE STOCK CLOSE CHG. CHG 1-YR NAV RTN Based on market capitalization STOCK CLOSE CHG. Alibaba Group Hldg 204.34 6.33 Alphabet Inc 1119.5034.51 American Funds AMCpA 34.13 .33 20.9 American Funds AmrcnBalA 27.24 .13 8.6 American Funds CptWIdGrlncA m52.14 .50 13.1 American Funds CptllncBldrA 60.75 .27 2.5 25,120 24,680 Dow Jones industrials Close: 24,635.21 Change: 219.37 (0.9) American Funds EuroPacGrA 56.88 American Funds FdmtllnvsA 63.53 .43 12.8 .62 14.0 American Funds GrfAmrcA American Funds IncAmrcA 53.76 .54 20.8 23.02 .12 6.0 24,240 10 DAYS Petrobras Bank of America Gen Electric Petrobras A Snap Inc A Chesapk Engy Perspecta Inc Ford Motor Vale SA Twitter Inc GameStop Corp General Motors Co Ambev S.A. Inc 10.13 29.40 14.10 8.56 11.63 4.53 24.55 11.71 14.03 36.65 13.72 43.20 5.27 32.47 27,200 American Funds InvCAmrcA 41.02 .33 12.6 American Funds NwPrspctvA 45.58 .57 16.0 American Funds WAMtlnvsA 46.34 .41 14.1 26,400 .36 .02 .24 .06 .16 .43 1.95 .52 .50 .01 .15 6.33 .32 .39 .16 .22 .16 .04 25,600 Alibaba Group Hldg 204.34 Pfizer Inc 24,800 Alphabet Inc A 1135.0035.00 Amazon.com Inc 1641.5411.92 Apple Inc 190.24 3.37 Bank of America 29.40 .36 Berkshire Hath 192.23 .70 Chevron Corp 123.85 Exxon Mobil Corp 81.83 .59 Facebook Inc 193.99 2.21 Intel Corp 57.08 1.88 JPMorgan Chase CO108.401.39 Johnson Johnson 121.261.64 Microsoft Corp 100.79 1.95 Royal Dutch Shell 72.60 .27 Royal Dutch Shell A 69.70 .12 Unitedhealth Group 243.35 1.84 WalMart Strs 82.99 .45 Wells Fargo Co 54.69 .70 DURATION CLOSE PREV. 3-month disc 1.88 1.88 6-month disc 2.05 2.03 2-year 2.47 2.42 10-year 2.90 2.85 30-year 3.05 3.02 CLOSE PREV.

36.25 21.89 4.09 16.90 7.28 13.19 11.12 21.77 3.43 24,000 Teva Pharm Gerdau SA Kinder Morgan Inc Nabors Inds Oasis Petroleum Callon Petrol Abercromb Fitch Weatherford Intl Ltd 23,200 NASDAQ STOCK MARKET 7 112.21 (151) 7 29.35 (1.08) 7 14.37 (.88) DFA EMktCorEql 22.68 .23 12.5 DFAIntlCorEqlns 14.50 .11 11.8 13.46 .5 Dodge Cox IntlStk 44.24 .46 2.7 Dodge Cox Stk 201.83 2.24 12.2 DoubleLineTtlRetBdl 10.42 .8 Fidelity 500ldxlns 95.86 1.04 14.7 Fidelity 500ldxlnsPrm 95.86 1.04 14.7 Fidelity 5001 ndexPrm 95.85 1.03 14.7 Fidelity Contrafund 132.49 1.63 23.1 Fidelity ContrafundK 132.46 1.63 23.2 Fidelity LowPrStk 55.08 .39 12.7 Franklin Templeton IncA 2.31 3.0 Metropolitan West TtlRetBdl 10.38 Oakmarklntllnv 27.48 .33 7.5 PIMCO Inclnstl 12.01 3.0 PIMCOTtlRetlns 9.97 Schwab SP500ldx 42.48 .46 14.7 T. Rowe Price BCGr 108.73 1.60 28.9 T. Rowe Price GrStk 68.89 .89 22.0 Vanguard 500ldxAdmrl 253.36 2.74 14.7 Vanguard DivGrlnv 26.83 .19 11.1 Vanguard HCAdmrl 85.23 .71 4.2 Vanguard InTrTEAdmrl 13.89 .6 Vanguard Insldxlns 250.06 2.70 14.7 Vanguard InsldxInsPlus 250.08 2.70 14.7 Vanguard InsTtlSMIInPIs 61.24 .64 15.3 Vanguard IntlGrAdmrl 100.93 1.22 21.4 Vanguard MdCpldxAdmrl 195.96 1.90 11.6 Vanguard PrmCpAdmrl 143.08 2.01 21.9 Vanguard STInvmGrdAdmrl 10.47 .2 Vanguard SmCpldxAdmrl 74.81 .56 17.2 Vanguard TrgtRtr2020lnv 31.59 .15 7.3 Vanguard TrgtRtr2025lnv 18.65 .10 8.3 Vanguard TrgtRtr2030lnv 33.99 .21 9.3 Vanguard TrgtRtr2035lnv 20.95 .15 10.4 Vanguard TtBMIdxAdmrl 10.43 Vanguard TtBMIdxIns 10.43 Vanguard TtlnBldxAdmrl 21.78 2.2 Vanguard TtlnSldxAdmrl 30.20 .24 10.2 Vanguard TtlnSldxIns 120.79 1.00 10.2 Vanguard TtlnSldxInsPlus 120.81 .99 10.2 Vanguard TtlnSldxInv 18.06 .15 10.1 Vanguard TtlSMIdxAdmrl 68.88 .71 15.2 Vanguard TtlSMIdxIns 68.89 .71 15.2 Vanguard TtlSMIdxInv 68.85 .72 15.1 Vanguard WlngtnAdmrl 71.90 .46 7.9 Vanguard WIslylncAdmrl 63.53 .13 3.4 Vanguard WndsrIIAdmrl 67.05 .71 9.5 Gold $1294.80 $1301.10 Silver $16,388 $16,402 Platinum $906.70 $910.10 Close High Low Previous Close High Low Previous Close High Low Previous 7,554.33 7,557.38 7,487.23 7,442.12 2,734.62 2,736.93 2,718.70 2,705.27 1,647.98 1,650.50 1,635.40 1,633.61 STOCK CLOSE CHG. Office Depot 2.47 .11 Micron Tech 58.74 1.15 Adv Micro Dev 14.40 .67 Intel Corp 57.08 1.88 Microsoft Corp 100.79 1.95 Netlistlnc .23 .06 Neovasc Inc .03 Apple Inc 190.24 3.37 Viking Therapeutics 9.75 IQIYI Inc 28.46 3.16 Co-Diagnostics Inc 4.79 1.89 Zyngalnc 4.47 .07 Cisco Syst 43.66 .95 Comcast Corp A 31.26 .08 Facebook Inc 193.99 2.21 Helios and Matheson .44 .00 Sirius XM Hldgs Inc 7.07 lululemon athletica 122.19 17.14 JD.com Inc 36.09 .91 Huntgtn Bancshs 15.19 .32 Momo Inc 49.60 3.68 Caesars Entertain 12.00 Applied Matls 52.24 1.46 Marvell Tech Grp 22.17 .63 Prime Rate 4.75 Discount Rate Primary 2.25 Fed Funds Target 1.50-1.75 Money Mkt Overnight Avg. 0.45 71 7 .87 to 109.51$! 7 .0017 to .04 to 2.90 to $65.81 to $1,294.80 Major market growth and decline 5-day change 30-day change A U.S.

Dollar Argentina (Peso) 24.9781 Australia (Dollar) 1.3211 Brazil (Real) 3.7640 Britain (Pound) .7493 Canada (Dollar) 1.2969 China (Yuan) 6.4203 Euro .8575 India (Rupee) 66.934 Israel (Shekel) 3.5562 Japan (Yen) 109.51 Mexico (Peso) 19.9283 Poland (Zloty) 3.69 So. Korea (Won) 1072.62 Taiwan (Dollar) 29.84 Thailand (Baht) 32.03 INDEX CLOSE CHG. 1-year change DOW NASD 16.17 19.80 12.12 DOW I Shanghai Stoxx600 Nikkei MSCI-EAFE Bovespa FTSE 100 CAC-40 3075.14 386.91 22171.35 1994.76 77239.75 7701.77 5465.53 3.91.0 3.1.2 486.1.6 23.6.3 67.11.2 NASD 1.62 I 7 .49 I 7 DOW 1.54 I 7 NASD 4.78 I 7 2.67 I 7 I 7 Deferred sales charge, or redemption fee. Multiple fees are charged, usually a marketing fee and either a sales or redemption fee. Source: Morningstar.

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