USEC, Supplier of Enriched Uranium Fuel, Surges Record 53%

Bloomberg reported on USEC (NYSE:USU), supplier of enriched uranium fuel based in Bethesda, Maryland surged a record of 53%.

As quoted in the market news:

USEC said on Sept. 30 it was cutting spending and would begin layoffs if it doesn’t get the $2 billion loan guarantee it’s seeking from the U.S. Energy Department by the end of October to build a uranium-enrichment plant in Ohio.

“We have been meeting with DOE officials on a regular basis but there is no news and the process just continues,” Steve Wingfield, a company spokesman, said in a telephone interview today.

Click here to read the full Bloomberg report.