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Oklo shares rose 3% after acquiring ARMEC to expand in-house manufacturing, with July's test reactor criticality a key catalyst for the pre-revenue nuclear firm.

NextEra Energy shares dropped 4.6% after unveiling a $66.8 billion stock merger with Dominion Energy, creating a utility giant serving 10 million customers. The deal targets rising AI data center power demand.

NextEra Energy is buying Dominion Energy for $66.8 billion in stock, forming the largest regulated electric utility globally to power AI data centers.

Vistra Corp. declared a $75 million quarterly dividend ahead of May 7 earnings. JPMorgan cut its price target to $231, while the company's Cogentrix acquisition and Meta nuclear deals shape growth.

The utilities sector outperformed Friday, with the Utilities Select Sector SPDR Fund (XLU) climbing 2.8% to $46.50 as Treasury yields declined following mild inflation figures. Key earnings and regulatory approvals bolstered individual stocks.

The utilities sector posted modest gains last week, underperforming the broader market rally. Investors are focused on upcoming inflation and jobs reports, along with earnings from Duke Energy, which could influence bond yields and sector performance.

The STB accepted Union Pacific and Norfolk Southern's revised merger filing but paused the case, demanding more information by July 27. Shares fell 4.2% and 5.4%.

Union Pacific may drop its $85 billion Norfolk Southern merger if regulators require major line sales or trackage rights. The STB is reviewing the revised application.

Norfolk Southern reported a 27% drop in Q1 net income to $547 million, weighed by higher fuel costs and merger expenses. Shares slipped 0.5% as investors focused on cost pressures and weak freight volumes.