Shares of Duquesne Light ( DQE) were among the NYSE's winners Wednesday, jumping 19% after the electric-utility company agreed to be acquired by a private equity consortium for $20 a share, or $1.59 billion in cash. The price represents a 22% premium to Monday's closing price of $16.44. The deal, led by Macquarie Infrastructure Partners and Diversified Utility and Energy Trusts, also includes the assumption of $148 million in preferred shares and long-term debt of about $1.26 billion, bringing the overall value of the transaction to $3.15 billion. "We are pleased to have the opportunity to team with this well-established, solidly-run, locally-based utility as Macquarie further expands its infrastructure interests in the United States," Macquarie Infrastructure Partners said in a press release. The deal is expected to close during the first quarter of 2007. Shares of DQE recently were trading up $3.13 to $19.57. Shares of Occidental Petroleum ( OXY) fell 3% after the company said it will record a $306 million charge on its first- and second-quarter earnings. The charge stems from Ecuador's decision in May to terminate Occidental's contract for the operation of Block 15, which comprises all of the company's oil-producing operations in the country. The government of Ecuador also seized all of Occidental's assets at Block 15. Occidental said its charge related to the matter will total $306 million, or 71 cents a share. The company, which reported earnings from continuing operations of $2.83 a share for the first quarter, said the charge will cut earnings for the period to $2.67 a share. For the second quarter, the company anticipates earnings from continuing operations of $2.70 to $2.80 a share. Analysts polled by Thomson First Call project second-quarter earnings of $2.88 a share. Shares were down $2.94 to $101.65. Carpenter Technology ( CRS) fell 3% after the producer of specialty alloys and engineering products named a new chief financial officer. The company said that M. David Kornblatt will start as financial chief immediately. He'll replace Terrence Geremski, who previously said he would be retiring. Geremski's retirement is effective Aug. 1. Carpenter Technology shares were down $3.52 to $115.85.