Here's a comment that sounded relevant and a release:
<<by: cpaacctg (43/M/nashville) Long-Term Sentiment: Buy 02/06/02 01:07 pm Msg: 87384 of 87388 [yahoo]
I was the cfo of a large co- I can tell you most co's are audited by the SEC-it means nothing. Would you blame the SEC, given the Enron collapse, if they were looking at the whole industy. Calpine appears to keep its books in accordance with industy standards. The stock seems extremely cheap. am buying and have been successful buying under these circumstances
DJNews story....
NEW YORK (Dow Jones)--Calpine Corp. (CPN) shares sunk to a new low on talk that the Securities and Exchange Commission's Division of Enforcement has started an investigation of the San Jose, Calif., energy company.
Calpine spokesman Bill Highlander said the company received a letter from the SEC on Dec. 20 regarding a review of its disclosure practices, but it is not under a formal investigation.
According to Highlander, the SEC letter said the agency planned to assist Calpine in meeting its disclosure requirements.
The letter was not from the SEC's enforcement division, he said.
Citing agency policy, a SEC spokesman said he could neither confirm nor deny talk of an investigation.
The talk of an SEC probe against Calpine also was dragging down other stocks in the group, including NRG Energy Inc. (NRG), AES Corp. (AES), Reliant Resources Inc. (RRI), which all set 52-week lows intraday.
Calpine shares recently changed hands at $7.65, down $1.10, or 12.6% on volume of 28 million compared with average daily volume of 13 million.. Earlier, the stock fell as low as $6.80, surpassing a prior 52-week low of $8.50 set Tuesday. |
