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News Breaks
February 13, 2014
06:10 EDTCPNCalpine reports Q4 EPS (23c), may not be comparable to consensus (7c)
Reports Q4 adjustd net income $5M. Reports Q4 revenue $1.44B, consensus $1.59B
News For CPN From The Last 14 Days
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July 20, 2015
13:20 EDTCPNOptions with increasing put volume: CPN AKS HST BEN TTM
10:01 EDTCPNCalpine to acquire Champion Energy Marketing for $240M
Calpine Corporation and Champion Energy Marketing, LLC, announced that they have entered into an agreement for Calpine to purchase Champion, a retail electric provider, for $240M, subject to working capital adjustments. Based in Houston, Champion is expected to serve approximately 22 TWh of residential, commercial and industrial customer load in 2015, concentrated in Texas and the Northeast U.S. where Calpine has a substantial power generation presence. Champion will continue to operate under the Champion brand after the transaction closes. Calpine will acquire the business from Champion Energy Holdings, a subsidiary of Crane Holding Companies, which owns a 75% interest, and EDF Trading North America, which owns a 25% interest. Calpine intends to fund the acquisition with cash on hand. The transaction, which is expected to close by the fourth quarter of 2015, is subject to customary closing conditions and approval from the Federal Energy Regulatory Commission.
09:33 EDTCPNCalpine downgraded to Buy from Conviction Buy at Goldman
Goldman removed Calpine from the Conviction Buy List given near-term risk to consensus estimates and lowered quarterly EBITDA estimates. Shares remain Buy rated with a $23 price target, down from $25.

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