Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MythMan who wrote (185212)	8/1/2002 9:05:00 AM
From: yard_man	Read Replies (1) of 436258

not a buying oppty here yet -- but someone is trying to sell the remnants of the bubble. Cash is king -- sit back and let the prices decline >>Reuters Company News Calpine profit falls on weak electricity, gas prices SAN JOSE, Calif., Aug 1 (Reuters) - Power producer Calpine Corp. (NYSE:CPN - News) on Thursday reported lower second-quarter earnings, citing weakness in electricity and natural gas prices, and slashed its full-year earnings forecast. The company also said it had identified potential asset sales that could yield $250 million. The San Jose, California-based company reported net income of $73 million, or 19 cents a share, down from $108 million, or 32 cents a share, in the same period last year. Last week the company said it would report earnings of about $72 million, or 18 cents to 19 cents a share. Shares of Calpine closed at $4.97 on Wednesday on the New York Stock Exchange. The shares fell 44.6 percent during the second quarter, underperforming the 40-company S&P Utility Index, which fell 17.7 percent. <<

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