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Stock Market & Financial Investment News

News Breaks
July 3, 2014
11:45 EDTCPNCalpine completes sale of power plants, expects Q3 net book gain of $750M
Calpine completed the previously announced sale of six power plants to an affiliate of LS Power for $1.57B. Calpine expects to record a net book gain of approximately $750M in Q3 as a result of the sale. Taxable gains are expected to be almost entirely offset by federal and state net operating losses. The transaction is expected to result in net cash proceeds of approximately $1.53B, which the company intends to allocate in a balanced manner that is accretive to adjusted free cash flow per share.
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August 26, 2014
07:39 EDTCPNCalpine New England plant acquisition a postive, says Morgan Stanley
Morgan Stanley said Calpine's purchase of Fore River plant is a positive given attractive returns, accretive free cash flow, and demonstrates commitment to deploying excess cash. Shares are Overweight rated with a $29 price target, up from $27.
August 25, 2014
08:34 EDTCPNCalpine to acquire Fore River generating station in New England for $530M
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