As the second-largest provider of electricity to the United States, Constellation Energy Group Inc. (NYSE: CEG) has a tremendous upside. At least, it would if the economy were growing strongly. 

Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.A) is finally starting to offload its 20% stake in ratings agency Moody’s Corporation (NYSE.MCO).

Vulnerable companies in the utility sector are certainly showing shorting opportunities. Andrew Gordon of Investor’s Daily Edge suggests that although the “recession has finally caught up to the utilities,” there is opportunity for triple digits gains.

Jason Simpkins of Money Morning gives us a look of what stocks Warren Buffett is buying into this year. He says that “Buffett didn’t fare much better than anybody else in 2008. But the Oracle of Omaha remains optimistic, convinced that investors who brave today’s fierce financial tempest will be rewarded in the long run.”

With the U.S. credit markets in lockdown mode, a whipsaw stock market that keeps anyone from getting too comfortable, a banking sector in chaos and a recession that clearly won’t be ending any time soon, U.S. dealmakers are looking at a market for mergers and acquisitions that’s in a virtual deep freeze.

Toyota’s Announces 2008 Sales, New Prez; Constellation Unloads London Unit to Goldman; China Urban Unemployment Rises; Kingdom Holding Posts Massive 4Q Loss; WB Cuts 800 Jobs; JNJ Profit Up 14%; Rohm and Haas Sheds 900 Jobs; Google Shelves Print Ads Program

Warren Buffet has shown the prowess of his trading strategy once again. Not only did he walk away with over $1.5 billion in his pocket earlier this week, but now his prized investment in Coca-Cola (NYSE:CCE) is jumping in value.

EDF Scooping Constellation; Research in Motion Posts Tough 3Q; Legg Mason’s Miller Calls Market Bottom; Cyber Monday Sales Strong; Crude Stocks Drop; New Zealand Fights Recession

In a sign that the planned construction of new nuclear reactors in the U.S. market could jump-start the nation’s moribund manufacturing sector, France’s Areva SA and defense-industry giant Northrop Grumman Corp. (NOC) have formed a joint venture to make nuclear reactor vessels, steam generators and other related components at Northrop’s Newport News shipyard in Virginia.

Traders remain nervous today despite approval from Congress on the final draft of Hank Paulson’s bank rescue bill. European stocks are heading towards three-week lows. US futures are down. Floyd Brown at Investment U says this is distracting from the long-term picture, and some great bargains, for contrarian investor.