Key Highlights

● Exelon rose modestly on Friday, October 30, 2026, after its third-quarter report.

● Adjusted Earnings of 87 cents a share beat expectations.

● The Utility narrowed its 2026 guidance to $2.85 to $2.91.

● Utilities were among six S&P 500 sectors to finish higher.

Exelon (NASDAQ:EXC) rose modestly on Friday, October 30, 2026, after reporting third-quarter adjusted earnings of 87 cents a share, above what analysts had expected. The Chicago-based utility holding company, which owns regulated power delivery businesses including ComEd, also narrowed its 2026 guidance to a range of $2.85 to $2.91 a share.

The move was a small one, in keeping with the stock's character. Utilities are typically owned for predictability, and a narrowed range indicates management has a clearer view of where the year will end. On a day when the market lurched lower, that kind of clarity found buyers.

Utilities rose as tech fell

Exelon's gain was part of a sector-wide advance. Utilities were among the six S&P 500 sectors that finished higher, along with energy, consumer staples, health care, materials and real estate. The rotation was a flight from technology after Intel (NASDAQ:INTC)'s cash-burn warning set off a selloff in chipmakers and AI stocks.

Other power companies also reported solid numbers. Dominion Energy rose after third-quarter operating earnings of $1.28 a share beat the $1.06 consensus, and said it expects to land in the top half of its $3.45 to $3.69 range. Alliant Energy gained after earnings of $1.52 a share topped the $1.09 expected. Alliant set 2027 guidance of $3.63 to $3.73 a share and raised its Capital spending plan to $15.9 billion on 3.4 gigawatts of data-center demand.

The data-center connection

Alliant's plan highlights a theme that cuts both ways for utilities. The AI buildout is driving Demand for electricity, and utilities are spending heavily to serve data centers. On Friday, though, investors were selling AI-linked stocks while buying utilities as a defensive holding, a sign of how varied the AI trade has become.

The broader market took a beating. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average dropped 572.25 points to 51,770.31, and the Nasdaq Composite lost 747.73 points to 25,437.00, its worst day since June 5. The Nasdaq-100 closed at 28,384.85.

Politics also bears on the sector. Investors are watching state and local races, such as those in Texas, for implications for data centers ahead of Tuesday's midterm elections. An Investment manager, discussing the possibility of a Democratic sweep, said: "I think that will be seen as negative for both the AI names".

Rates matter for utilities

Utilities are sensitive to interest rates because they borrow heavily to fund infrastructure and are often owned for their dividends. Treasury yields eased on Friday, with the 10-year yield falling, even as the Federal Reserve's tone stayed hawkish. The Fed held its benchmark range steady this week while two policymakers dissented in favor of a hike.

Fed officials kept up that tone on Friday. Dallas Fed President Lorie Logan said she wants at least two more quarter-point hikes, and Richmond Fed President Tom Barkin said: "I think the question though is pace." Markets have priced in a December increase.

What to watch

For Exelon, the next markers are whether fourth-quarter results keep the company inside its $2.85 to $2.91 range and how regulators treat the spending needed to serve new demand.

Investors will also watch Treasury yields and the Fed. The October jobs report on Friday, November 6, could shape December rate expectations, while Tuesday's midterm results may influence the outlook for energy policy and data-center development that matters to utilities across the country.