posted
im staying out of this one...bankruptcy written all over it. Knowing the management, they might pull off another miracle. This time tough, I don't think Calpine can pull off a miracle to survive AND compete with other companies like AES and RRI.
Posts: 224 | From: NJ | Registered: Oct 2005
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It can't gather enough volume to breal out. I watch this one and it has had all the other earmarks of an upwardmoving stock over and over without the necessary volume. I think it's just created an athmosphere of fear for traders.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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Bdgee, news can get this thing screaming.. Example: Cramer reverses himself again! LOL
But seriously, it's a barking skipper going down with the ship right now, just radar the thing, just in case....
Posts: 10729 | From: oregon | Registered: Feb 2005
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CPN CALPINE CORP COM (NYSE) $2.39 0.10(4.37%)
Company Information Calpine Corporation Industry: Electricity 50 West San Fernando Street Website: http://www.calpine.com San Jose, CALIFORNIA 95113 Phone: +1 408 995-5115 UNITED STATES Fax: +1 408 995-0505 Employees: 3418
Electric Generation & Marketing accounted for 99% of 2003 revenues; Oil & Gas Production & Marketing, 1% & Corporate & Oth, nom
Calpine Corporation. The Group's principal activity is to generate electricity in the United States, Canada and the United Kingdom. The Group generates revenue from three segments: Electric Generation and Marketing, Oil and Gas Production and Marketing and Corporate and Other Activities. It also develops, constructs, owns and operates power generation facilities and the sale of electricity and its by-product, thermal energy primarily in the form of steam. The Group also has 12 gas-fired projects and 1 project expansion currently under construction collectively having a net capacity of 7,685 MW. The California Department of Water Resources is one of the major customers of the Group. The Group sold Alvin South Field oil and gas assets and the specialty data center engineering business in 2003 and its 50% interest in the Lost Pines 1 Energy Center in 2004. On 23-Mar-2004, the Group acquired Calpine Cogeneration Company.
Price and Volume Moving Average 50-day 2.85 Moving Average 200-day 2.96 Vol Average 50-day 10,531,200 Vol Average 200-day 11,381,500 52-wk high (12/27/2004) 4.08 52-wk low (4/28/2005) 1.32 Bid n/a Ask n/a Share Related Items Market Cap 1,357,436,178 Shares Outstanding 567,964,928 Current P/E Ratio n/a Management Effectiveness Return on Equity (1yr) -13.25% Return on Assets (1yr) 1.17% Return on Investment (1yr) n/a Valuation Ratios Price/Earnings (1 yr) -1.66 Price/Book (1 yr) 0.36 Price/Cash Flow (1 yr) -15.07 Estimates More This Qtr. Last Qtr. Mean Est. -0.04 -0.36 High Est. -0.04 -0.36 Low Est. -0.30 -0.47 # of Est. 8 6 Coeffecient Variance -297.67 -27.32 Financial Snapshot More All data in thousands except per share amounts. 2003 2002 Revenue 8,852,239 7,457,899 Total Net Income 328,632 181,250 Earnings per Share 0.28 0.14 EBIT/DA 1,568,300 1,031,972 Long Term Debt 17,328,181 12,462,309 Per Share Data Earnings (1 yr) -1.64 Current P/E Ratio n/a Cash Flow -0.25 Cash (last quarter in thousands) 754,691 Annual Dividend n/a Book Value 7.53 Profitability Gross Margin (1 yr) 3.60% Operating Margin (1 yr) -1.76% Profit Margin (1 yr) -10.88% Lastest Insider Trades More Peter Cartwright Open Market Sale 1,002,000 09/20/2005
Peter Cartwright Proposed Sale (Form 144) 102,000 09/20/2005
Peter Cartwright Proposed Sale (Form 144) 900,000 09/19/2005
Peter Cartwright Exercise of Stock Options 1,289,320 09/19/2005
------------------------------------------------- I'm not saying buy it, just watch it, just in case.........
Posts: 10729 | From: oregon | Registered: Feb 2005
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After Hours: 2.37 -0.01 / -0.42% Vol. 8,400 2.38 +0.01 +0.42% fyi Volume 5.427 Mil CPN
Data Source: CSI 11:21 PM ET
fyi Avg Daily Volume 10.98 Mil Day's High 2.45 Day's Low 2.29 Open 2.44 Previous Close 2.37 Bid NA Ask NA 52 Week High 4.08 Market Cap. 1.352 Bil 52 Week Low 1.32 Tot. Shares Out. 568 Mil Instit. Ownership 74.1% Exchange NYSE P/E NA Forward P/E -2.10 Earnings/Share -1.37 Sales 9.332 Bil Div/Share NA Return on Equity NA Current Div. Yield NA Beta 3.01
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Just in case, check CPN periodically
Posts: 10729 | From: oregon | Registered: Feb 2005
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posted
I love playing bad news drops and bounces. I have cashed in about $4500 worth of bounces in the last 2 and 1/2 months. I put $2550 on whitehall jewlers JWL when their new CEO resigned and was out with $4500 in less than 2 full business days. That was my best trade yet, 2 grand in 2 days. If you had played the dip on this one today you could have gotten 15% on your money. I am currently stuck in IVAN right now. Bought 2000 shares at $1.80, another 2000 * $1.70 and another 2000 * $1.55. Waiting for it to go back up now. Patience is a virtue.
09/13/2005 Sell 600.0000 WHITEHALL JEWELLERS INC COM $1.80 $1,079.96 CASH 09/13/2005 Sell 1,900.0000 WHITEHALL JEWELLERS INC COM $1.80 $3,419.85 CASH 09/09/2005 Buy 100.0000 WHITEHALL JEWELLERS INC COM $1.02 $102.00 CASH 09/09/2005 Buy 700.0000 WHITEHALL JEWELLERS INC COM $1.02 $714.00 CASH 09/09/2005 Buy 1,700.0000 WHITEHALL JEWELLERS INC COM $1.02 $1,734.00 CASH
Posts: 507 | From: Rochester, NY | Registered: May 2005
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UPDATE 1-Calpine sales proceeds, court hearing adjourns Fri Nov 11, 2005 06:02 PM ET (Recasts, adds details, background, byline, stock price) By Julie MacIntosh
WILMINGTON, Del., Nov 11 (Reuters) - A Delaware court judge adjourned a day-long hearing on Friday without issuing a ruling in a dispute between independent power producer Calpine Corp. (CPN.N: Quote, Profile, Research) and Bank of New York Co. (BK.N: Quote, Profile, Research) over $395 million in frozen asset sales proceeds.
The Delaware Chancery Court judge, Vice Chancellor Leo Strine, directed the two sides to file 10-page legal opinions by Tuesday and to be back in court on Nov. 17 for oral arguments.
The hearing before a spillover crowd was marked by dry, technical financial testimony given by Bob Kelly, Calpine chief financial officer; Janet Dietrich, senior vice president of subsidiary Calpine Energy Services; and a handful of expert witnesses.
Strine questioned the witnesses on a number of procedural points but gave no indication of how he might decide the case.
The legal tangle stems from Bank of New York's decision in September to withhold the proceeds from Calpine's $1.05 billion sale in July of oil and gas fields in the United States and Canada.
The bank, collateral trustee for Calpine senior secured noteholders, said some noteholders objected to the company spending $313 million of the proceeds to buy natural gas to run its power plants, and so the rest of the proceeds was frozen.
Calpine then sued Bank of New York and Wilmington Trust Co., another trustee, to force the release of the proceeds as well as a ruling that its purchases of natural gas are permitted under the terms of its notes.
The power company is struggling to take $3 billion of debt off its books by the end of the year through asset sales but it said last week it may not be able to meet that goal.
Further sales of California-based Calpine power plants and other assets are unlikely until its legal fights are resolved, analysts say.
Calpine shares fell 11.7 percent, of 23 cents, to close at $1.73 on the New York Stock Exchange on Friday.
posted
Calpine bonds fall pending resolution of case--LPC Mon Nov 14, 2005 05:06 PM ET NEW YORK, Nov 14 (Reuters) - Calpine Corp.'s (CPN.N: Quote, Profile, Research) unsecured bonds fell sharply on Monday pending the resolution of the company's Delaware court case over asset sale proceeds, sources told Reuters Loan Pricing Corp.
Calpine's 8.5 percent notes due 2008 are currently trading in the range of 47.5 cents to 48.5 cents on the dollar, down from 52 cents to 54 cents last week, according to Reuters LPC, a global provider of loan market news, data and analytics.
Its 8.5 percent notes due 2011 are down into the 38.5 cents to 40.5 cent range from 43.5 cents to 44.5 cents last week, while its second-lien loan is trading around 74.75 cents to 75.75 cents.
A Delaware judge adjourned a day-long hearing on Friday without issuing a ruling in a dispute between Calpine and Bank of New York Co. Inc. (BK.N: Quote, Profile, Research) over $395 million in frozen asset sales proceeds.
The sides were ordered to file 10-page legal opinions by Tuesday and to be back in court on Nov. 17 for oral arguments.
The legal tangle stems from Bank of New York's decision in September to withhold the proceeds from Calpine's $1.05 billion sale in July of oil and gas fields in the United States and Canada.
The bank, collateral trustee for Calpine senior secured note holders, said some note holders objected to the company spending $313 million of the proceeds to buy natural gas to run its power plants and the remaining proceeds were frozen.
Calpine then sued Bank of New York and Wilmington Trust Co., another trustee, to force the release of the proceeds, as well as a ruling that its purchases of natural gas are permitted under the terms of its notes.
Posts: 224 | From: NJ | Registered: Oct 2005
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if they're due back in court on the 17th i would imagine we will here something then.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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There was a rumor in the message boards about potential take over by EDP. But the links that were posted looked far from legit. Also hoping for a favorable court hearing and I am sure there is a chance that, given the PR - we might see an uptrend.
I got in at 1.67 today with 2000 and let's see how it performs (It hit 1.82, but I am hanging in there)
Posts: 5 | Registered: Aug 2005
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hard to imagine someone wanting to buy out CPN and assume their 19billion in debt.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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CALGARY, ALBERTA, Nov 14, 2005 (CCNMatthews via COMTEX News Network) -- Pro Facto win for Calpine Corp. More to follow.
Posts: 224 | From: NJ | Registered: Oct 2005
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posted
you would think they are on the brink of bankruptcy. much of their debt is secured debt so if they filed for bankruptcy there would most likely be nothing left for equity holders. might get some short term pops though. i wouldn't hold too long. i think their 19 billion in debt is just going to be too much for them to get out from under.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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posted
i think the court ruling was just the nail in the coffin. should have some good movement here and there though.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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Calpine Terminates Tender Offer For Its 9 5/8% First Priority Senior Secured Notes Due 2014 Friday December 30, 6:04 pm ET
SAN JOSE, Calif., Dec. 30 /PRNewswire-FirstCall/ -- Calpine Corporation (OTC Pink Sheets: CPNLQ - News) announced today that it has terminated its previously announced tender offer to purchase for cash up to $400,000,000 of its outstanding 9 5/8% First Priority Senior Secured Notes due 2014 (the "Notes"). The tender offer has expired, and Calpine has determined that not all the conditions to the offer have been satisfied. Accordingly, Calpine will purchase no Notes pursuant to the offer, and all Notes tendered will be promptly returned.
A major power company, Calpine Corporation supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Calpine was founded in 1984.
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
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Lots of volume and a big move yesterday before falling back some. Anyone have any insight?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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