Enron "In Play" events in Briefing.com database.
Nov 30 2001
5:52 PM In Play Principal Fincl (PFG) 22.95 +0.07: -- Update -- Announces that it is currently reviewing its exposure to Enron (ENE) and that the Principal's amount of exposure is approximately $171 million; company expects to take a write-down in the fourth quarter of 2001 related to Enron exposure; see press release.
Nov 30 2001
11:31 AM In Play EOTT Energy (EOT) 10.90 -3.75 (-25.6%): Being hit by downgrades out of Lehman and UBS Warburg. Lehman took its rating on the stock to MKT PERFORM from Buy; concerned about co's relationship with ENE; thinks EOT could encounter difficulties in obtaining a new credit facility and face a severe equity overhang should ENE sell EOT units after recap. Firm suspends price target.
Nov 29 2001
6:21 PM In Play FPL Group (FPL) 55.25 +0.65: Utility holding company discontinues trading with Enron (ENE) and says that its net income exposure is less than $2 mln; FPL says it continues to be optimistic about the vitality of its electricity-related businesses and indicated its exposure is minimal from the difficulties being experienced by Enron... Additionally, National Fuel Gas (NFG) says its Seneca Resources unit may have a net exposure of about $10.4 mln to Enron.
Nov 29 2001
4:49 PM In Play Energen Corp (EGN) 23.95 -0.43: Company reporting that Enron (ENE) issues could impact bottom line by $0.20-$0.25 per share.
Nov 29 2001
8:39 AM In Play Enron Corp (ENE) 0.61: -- Update -- In effort to preserve cash, company is evaluating whether previously declared dividends will be paid on its common stock, the Cumulative Second Preferred Convertible Stock, the Enron Capital LLC 8% Cumulative Guaranteed Monthly Income Preferred Shares, and the Enron Capital Resources, L.P. 9% Cumulative Preferred Securities, Series A.
Nov 29 2001
6:39 AM In Play JP Morgan Chase (JPM) 37.50: Company puts its exposure to Enron (ENE) at approx. $500 mln. The firm also confirmed it has additional exposures that are secured, including $400 mln in loans secured by the Transwestern and Northern Natural pipelines.
Nov 28 2001
5:42 PM In Play S&P Index Changes : S&P MidCap 400 component NVIDIA (NVDA) will replace Enron (ENE) in the S&P 500 Index after the close of trading on Thursday, November 29; Enron is being removed for lack of representation. Anheuser-Busch (BUD) will replace Enron in the S&P 100 Index. Internet Security Systems (ISSX) will replace NVIDIA Corp. in the S&P MidCap 400 Index.
Nov 28 2001
5:35 PM In Play NVIDIA Corp (NVDA) 51.36 -2.73: Hearing from sources company will replace Enron (ENE) in the S&P 500 Index. Stock bidding up on the reports.
Nov 28 2001
1:24 PM In Play Dynegy (DYN) 36.81 -4.08 (-10.0%): -- Update -- Company will hold a conference call at 1:30 ET to discuss the termination of its merger with Enron (ENE); Dial in: 800-369-1852 Passcode: dynegy.
Nov 28 2001
1:01 PM In Play Enron Corp (ENE) 1.20 -2.91 (-70.8%): -- Update -- Dynegy has officially terminated its merger with Enron.
Nov 28 2001
12:41 PM In Play Dynegy (DYN) 36.81 -4.08 (-10%): -- Update -- Trading halted in DYN and Enron (ENE -71%). Hitting almost simultaneously is news that Moody's has downgraded Enron's debt, the second ratings firm to do so today.
Nov 28 2001
11:34 AM In Play Enron Corp (ENE) 1.23 -2.88 (-70.2%): -- Update -- Resumes trading. Stock getting crushed at 1.23 down 70%.
Nov 28 2001
11:15 AM In Play Enron Corp (ENE) 2.56 Halted: -- Update -- Stock still halted on NYSE, but trading down to 1.49 on the National Market; hearing that downgrade of debt to junk status by S&P triggers over $3 bln in immediate debt repayments, which is leading to fears that ENE will declare bankruptcy.
Nov 28 2001
11:10 AM In Play Bank Stocks : Bank stocks dive after S&P downgrade of ENE: C -1.50, JPM -1.69.
Nov 28 2001
11:01 AM In Play Enron Corp (ENE) 2.56 Halted: -- Update -- Stock halted; order imbalance -- hearing that Dynegy (DYN) merger is doubtful after S&P downgraded ENE's debt to B-minus and called the DYN merger doubtful.
Nov 28 2001
7:22 AM In Play Enron Corp (ENE) 4.11: WSJ reports that Enron's board informally agreed to a new share-exchange ratio that values Enron at $4.17 bln or $4.91 per ENE share. New ratio is reported to be 0.12 shares of Dynegy (DYN) for each Enron share, down more than 50% from the original offer of 0.2685.
Nov 23 2001
7:24 AM In Play Enron Corp (ENE) 5.01: -- Update -- CSFB says its industry contacts and discussions with traders indicate that while trading with ENE has slowed, it certainly has not stopped. Firm continues to believe that ENE is significantly undervalued, despite its issues, and that ultimately it will trade up in concert with the 0.2685 ratio of the DYN deal.
Nov 23 2001
00:16 AM In Play Dynegy (DYN) 39.76: Company coming under increasing pressured to renegotiate or walk away from deal to acquire the embattled Enron (ENE) due to ENE's mounting financial problems, reports the Wall Street Journal... According to the report, one person familiar with the merger plans said the SEC filing Monday by Enron contained information Dynegy hadn't known about, though it couldn't be determined what that new information was... Article also notes that Wall Street turning against the deal, citing cautionary comments from UBS and Goldman analysts.
Nov 21 2001
8:29 AM In Play Goldman on ENE/DYN : Goldman Sachs downgrades Enron (ENE) and Dynegy (DYN) to MARKET PERFORM from Recommended List, industry weighting goes to Market; firm cites questions about ENE's liquidity and ability to recover lost business. Says cash infusion from DYN appears inadequate to restore confidence, EPS accretion now uncertain, and valuations an issue.
Nov 19 2001
6:47 PM In Play Enron Corp (ENE) 9.06 +0.06: In 10-Q filed with SEC, company reduces Q3 2001 earnings, which were previously reported on Oct 16, by $0.03 per diluted share and increases previous earnings for nine months ended Sept. 30, 2001 by $0.01 per diluted share to reflect adjustments made subsequent to the end of the quarter (on Oct 16, Enron posted Q3 EPS of $0.43); company also outlines restructuring plan to focus on its core businesses, reduce costs, restructure debt, and other matters; see press release.
Nov 14 2001
12:50 PM In Play Mirant (MIR) 28.13 -0.77 (-2.7%): Banc of America believes that MIR should be one of the primary beneficiaries of the ENE meltdown, and should be able to capture more market share during shakeout. Stock has fallen in sympathy with ENE, and BofA views MIR's current low valuation as buying opportunity. Reiterates Strong Buy rating and PT of $40.
Nov 12 2001
8:09 AM In Play Dynegy (DYN) 38.76: -- Update -- Company and Energy (ENE) to conduct a conference call at 9ET; dial-in 888-603-9706.
Nov 12 2001
7:01 AM In Play Enron Corp (ENE) 8.63: WSJ reports that sale of company faces major uncertainties, ranging from possible opposition from regulators to potentially huge new liabilities and write-downs at ENE. Journal also reports that ENE lenders JP Morgan Chase and Citigroup may each inject $250 mln into ENE in attempt to keep company's credit rating from being cut.
Nov 9 2001
6:17 PM In Play Enron Corp (ENE) 8.63 +0.22: -- Update -- Company agrees to be acquired by Dynegy (DYN 38.76 +2.26) for 0.2685 DYN shares for each ENE share, or $10.41 per share at DYN's closing price. As part of the deal, DYN will provide an immediate $1.5 bln asset-backed equity infusion to ENE and ChevronTexaco (CVX) will invest $2.5 bln in new equity into DYN, $1.5 bln immediately and $1 bln at closing. DYN expects merger to be strongly accretive; sees 2002 EPS of $3.40-3.50, 35% higher than prior guidance even before taking into account potential synergies and cost savings.
Nov 9 2001
5:47 PM In Play Enron Corp (ENE) 8.63 +0.22: -- Update -- Shares of ENE and Dynegy (DYN) halted; it was widely reported today that DYN was close to a deal to acquire ENE in a stock transaction valued at roughly $7 bln.
Nov 9 2001
3:18 PM In Play Enron Corp (ENE) 8.81 +0.40 (+4.6%%): -- Update -- CNBC reports that ENE and DYN are still expected to complete a deal today.
Nov 9 2001
10:23 AM In Play Enron Corp (ENE) 8.80 +0.39: -- Update -- Wall St Journal now reporting that deal with Dynegy (DYN 36.50 unch) is close and that it will be roughly a $7 bln deal, or a ratio of about 0.27 DYN shares for each ENE share. That translates to $9.86 per share at the current DYN price (earlier per share calculations on this page were based on diluted shares rather than basic; the structure of the deal will determine which is relevant).
Nov 9 2001
9:56 AM In Play Enron Corp (ENE) 7.50 -0.91: -- Update -- CNBC reporting that the price for ENE being discussed in the talks with Dynegy (DYN) is somewhat less than $8 bln. A price range of $7-8 bln would translate into a per share price of roughly $7.63-8.72. Separately, Moody's just cut ENE's long term debt rating to Baa3 and commercial paper rating to Not Prime.
Nov 9 2001
9:19 AM In Play Enron Corp (ENE) 8.41: CNBC reports that deal for company to be acquired by Dynegy (DYN) is very close with announcement possibly coming as soon as today.
Nov 8 2001
3:23 PM In Play Dynegy (DYN) 37.75 +4.75 (+14.4%): --Update-- Merrill Lynch estimates that an Enron (ENE) acquisition would be materially accretive given that DYN would be purchasing company in a very depressed state. Thinks bringing mix of Enron's assets into DYN's management strategy and philosophy would make for an even more powerful story for DYN going forward. Using conservative 15x P/E on a potential $3.00 EPS for combined company in 2002, suggests $45 price objective for the combined entity.
Nov 8 2001
10:19 AM In Play Enron Corp (ENE) 8.84 -0.21 (-2.3%): -- Update -- Trading in stock resumed.
Nov 8 2001
9:54 AM In Play Enron Corp (ENE) 8.95 -0.10 (halted): -- Update -- ENE plans to restate its financial statements for 1997 through 2000 and qtrs ended March and June. Company states that after taking into account Enron's previously disclosed $1.2 bln adjustment to shareholders' equity, these restatements have no effect on Enron's current financial position.
Nov 8 2001
9:49 AM In Play Enron Corp (ENE) 8.95 -0.10 (halted): --Update-- Company issues 8-K filing disclosing a required restatement of prior period financial statements to reflect various income statement and balance sheet adjustments required as the result of a determination by Enron and its auditors that three unconsolidated entities should have been consolidated in the financial statements pursuant to generally accepted accounting principles.
Nov 8 2001
9:40 AM In Play Enron Corp (ENE) 8.95 -0.10 (-1.1%): -- Update -- Dynegy (DYN) confirms that it is engaged in discussions with respect to a possible business combination with Enron. Terms of any transaction have not been reached.
Nov 8 2001
6:49 AM In Play Enron Corp (ENE) 9.05: WSJ reports that Dynegy (DYN) held talks to buy ENE for roughly $7-$8 bln in stock. Dynegy also is expected to inject $1.5 bln into ENE immediately. Chevron/Texaco, a 26%-owner of Dynegy, is likely to fund the cash infusion. Article suggests there is still a possibility that the deal could be derailed.
Nov 7 2001
2:32 PM In Play Enron Corp (ENE) 8.20 -1.47 (-15.2%): -- Update -- WSJ reports that Dynegy (DYN 34.24 -1.76) in discussions to invest up to $2 bln in Enron and that companies are also engaged in merger talks.
Nov 7 2001
1:30 PM In Play Enron Corp (ENE) 7.55 -2.12 (-21.9%): Lifts off lows of the day after CNBC reports that company is engaged in talks with Dynegy (DYN) regarding an alliance.
Nov 6 2001
6:35 AM In Play Enron Corp (ENE) 11.17: WSJ reports that company has held talks with private-equity firms and power-trading companies regarding a capital infusion of at least $2 bln as company faces an escalating fiscal crisis.
Nov 5 2001
7:26 AM In Play Enron Corp (ENE) 11.30: Stock bid up almost $1 in pre-market after the Independent reports that Royal Dutch/Shell Group is considering an $11 bln bid for the troubled energy supplier/trader.
Nov 1 2001
9:58 AM In Play Enron Corp (ENE) 12.46 -1.44 (-10.4%): -- Update -- Company issued press release just after the open announcing that it has secured commitments for an additional $1 bln in financing supported by Enron's Northern Natural Gas Company and Transwestern Pipeline Company assets.
Nov 1 2001
7:26 AM In Play Enron Corp (ENE) 13.90: -- Update -- Merrill Lynch downgrades to NEUTRAL (from n-t Accum, l-t Buy) based on the uncertainty of formal SEC investigation; believes the timing and directional uncertainty of this new development will at best cap ENE shares in the mid-teens while increasing overall volatility.
Nov 1 2001
1:20 AM In Play Enron Corp (ENE) 13.90: Company announces that the Securities and Exchange Commission investigation into two of its limited partnerships has become a formal inquiry.
Oct 31 2001
1:37 PM In Play Enron Corp (ENE) 12.60 +1.44 (+12.9%): --Update-- Merrill Lynch performs a NAV analysis of Enron. Including off-balance sheet financing (that firm is aware of), Merrill arrives at NAV estimate in the $16 to $24 area. Estimate could prove conservative as it does not include cash balance or the current net trading position. Thinks that once the air clears and credibility begins to return, ENE will ultimately return to a more traditional valuation. Employing a discounted 13-15x P/E on firm's 2002 est of $1.90-$2.10 produces valuation of $24.70 to $31.50.
Oct 31 2001
10:20 AM In Play Enron Corp (ENE) 13.05 +1.89 (+17%): Issue experiencing a reprieve from the selling that had pushed the stock to lows not seen since 1993. Contributing to advance is WSJ article that with stock trading at book value, some see issue as a takeover candidate. Commentary similar to that reported by Briefing.com yesterday.
Oct 30 2001
11:42 AM In Play Enron Corp (ENE) 11.25 -2.56 (-18.5%): In a pre-market note, Bernstein commented on ENE debacle; feels that near term crisis increases the need for liquidity. Given that asset sales could take too long, believes that a takeover makes sense, with a name such as Royal Dutch/Shell able to provide quick balance sheet support; infusion of private capital also a possibility. Thinks company capable of maintaining credit worthiness on its own through asset sales and bank credit... Separately, hearing from traders that at least one major institutional seller is unwinding a position in the stock.
Oct 29 2001
10:50 AM In Play Movers Of Note : Enron (ENE 13.86 -1.54, -10%) breaking down to a new 52-week low... Providian (PVN 4.19 +0.25, +6.5%) attempting to pull out of its recent nosedive... Lockheed Martin (LMT 51.55 +1.63, +3%), Titan (TTN 28.61 +1.61, +6%), InVision (INVN 14.80 +0.97, +7%) climbing to new one-year highs.
Oct 28 2001
10:56 PM In Play Enron Corp (ENE) 15.40: Embattled company negotiating with banks for new credit line of between $1 to $2 bln, reports Wall Street Journal... Company expects to close deal within days... New credit needed to bolster financial condition and alleviate investor concerns... May do so over long-term, but over short-term will simply raise more questions about finances... ENE drew down about $3 bln in credit last week.
Oct 26 2001
7:02 AM In Play Enron Corp (ENE) 16.35: Company draws down on credit line to provide cash liquidity in excess of $1 bln. 'We are making it clear that Enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments in the ordinary course of business.' WSJ reports that company has drawn down about $3 bln, the bulk of its available credit lines, and will use part of the funds to offer to redeem about $1.85 bln in commercial paper.
Oct 25 2001
9:56 AM In Play Market Movers : Investors applauding news of new Enron (ENE 17.40 +0.99) chief financial officer; after gapping down, stock now up 6% on the morning... Conseco (CNC 4.46 +0.46) managing to put shorts on the run again, despite trimming outlook... On the momentum front, food/mail irradiation stocks giving up ground (SURE -13%); biological-agent detection stock Cephid (CPHD 6 +0.68) picks up the baton.
Oct 24 2001
4:26 PM In Play Enron Corp (ENE) 16.41 -3.38: --Update-- Company names Jeff McMahon chief financial officer. Andrew Fastow, previously Enron's CFO, will be on a leave of absence fromthe company. Mr. McMahon previously served as CEO of Enron's Industrial Markets group, and was treasurer of Enron from 1998 to 2000.
Oct 24 2001
12:15 PM In Play Dynegy (DYN) 38.01 -4.70: Hearing that stock is down due to rumors that DYN has cut off Enron (ENE 15.82 -3.97) as a trading partner due to credit concerns; sources at CIBC World Markets telling us that DYN denies this, and that CIBC recommends buying DYN on weakness.
Oct 24 2001
8:25 AM In Play Enron Corp (ENE) 19.79: Two days after downgrading to Hold from Buy, Prudential downgrades ENE another notch to SELL from Hold; says Enron's call to discuss SEC inquiry yesterday did little damage control and that management avoided answers.
Oct 23 2001
10:30 AM In Play Enron Corp (ENE) 21.58 +0.93: -- Update -- In response to analyst question, CEO conceded the Board and everyone involved recognized there would be an inherent conflict of interest with LJM2, but said company did everything possible to ensure there would be no impropriety and that shareholders would be protected... Says there was a 'Chinese Wall' between LJM and Enron... Even if dealings were entirely above-board, Briefing.com can't help but think that management should have known better than to even allow the appearance of impropriety... separately, analysts are making a point of admonishing company for not communicating better; Goldman Sachs analyst says Enron's lack of transparency creates impression that it is hiding something... Enron says it is now committed to holding additional investor calls on a more regular basis; will set another call up in next few weeks and provide FAQ area on website to help explain current situation.. call just concluded
Oct 23 2001
10:08 AM In Play Enron Corp (ENE) 21.96 +1.31: -- Update -- CEO says he doesn't think there is any chance of Enron being downgraded to below investment grade... indicates company is committed to maintaining its credit ratings and is working with Moody's to help that agency better understand the company's business
Oct 23 2001
9:58 AM In Play Enron Corp (ENE) 22.10 +1.45: -- Update -- On call, analyst asks why no balance sheet with recent earnings release given company's previous claim that it will work to offer investors greater transparency in measuring its performance... response was that balance sheet doesn't normally come together until the week after its earnings release and that it will be included in 10-Q to be filed by Nov. 14... CEO indicates that it will do a better job of improving timing of release of earnings and balance sheet in future, implying that investors won't have to wait all the way until 10-Q filing deadlines to see balance sheet
Oct 23 2001
9:48 AM In Play Enron Corp (ENE) 21.67 +1.02: -- Update -- On call addressing SEC inquiry, company's prepared remarks largely a reiteration of what has been said in recent press releases and on Q3 conference call last week... says it has the necessary liquidity to maintain normal operations and reiterates FY01 EPS guidance of $1.80 and FY02 guidance of $2.15
Oct 23 2001
8:51 AM In Play Enron Corp (ENE) 20.65: Company will hold a conference call at 9:30 ET to discuss the SEC's request for information: 719-457-2633.
Oct 22 2001
3:27 PM In Play Enron Corp (ENE) 20.04 -6.01 (-23.1%): -- Update -- Merrill Lynch views SEC letter of inquiry as a potential positive for the stock, believing that if SEC returns a clean bill of health criticism of partnership would quickly quiet. Firm does consider SEC a near-term overhang on the stock. While firm says it is difficult to call a bottom in the stock, notes that only twice in the last 10 yrs has ENE traded below 14x earnings; stock now trading at 10x.
Oct 22 2001
2:01 PM In Play Enron Corp (ENE) 20.92 -5.13 (-19.7%): -- Update -- Prudential downgrades issue to HOLD from Buy.
Oct 22 2001
7:01 AM In Play Enron Corp (ENE) 26.05: Discloses that the SEC has requested that Enron voluntarily provide information regarding certain related party transactions. Enron pledges to cooperate with the SEC. Company notes that its auditors and attorneys reviewed the related party arrangements, the Board was fully informed of and approved them, and they were disclosed in the company's SEC filings.
Oct 16 2001
2:46 PM In Play Enron Corp (ENE) 33.85 +0.68 (+2%): Merrill Lynch raises near-term rating to ACCUMULATE from Neutral; views $1 bln charge taken to 'clean house' as a positive step, and expects stock to respond favorably; believes ENE is solidly on a path to rebuild investor confidence... based on firm's P/E objective of 17.9x, thinks stock should move to the $37-$39 range.
Oct 9 2001
8:46 AM In Play JP Morgan Focus List : JP Morgan launches a new Focus List that contains the top picks of each analyst: AA, AOL, ACI, BAX, ACDO, CAH, CD, CSX, DCGN, D, DRD, DNB, EDMC, ENE, GMST, HCA, ICST, TRDO, KG, MSFT, NTAP, NETA, PECS, PDX, PEP, PFE, SLB, PCS, TRPS, TYC, VAR, VRSN, WEN.
Oct 9 2001
8:23 AM In Play Enron Corp (ENE) 33.45: Merrill Lynch upgrades to long-term BUY from Accumulate with a $44 target, leaves near-term rating at Neutral; says agreements to sell Portland General and India oil/gas interest indicate that company is well on its way to re-sharpening focus on profitable core businesses.
Oct 8 2001
7:12 AM In Play Enron Corp (ENE) 31.73: Enters agreement for the sale of its Portland General Electric unit to Northwest Natural Gas Company (NWN) for $1.875 bln, off which $1.55 bln will be paid in cash. NWN will assume approx. $1.1 bln in Portland General debt.
Oct 5 2001
6:52 AM In Play Enron Corp (ENE) 33.10: Wall St Journal reporting that Enron is in advanced discussions to sell its Portland General Electric utility unit to Northwest Natural Gas (NWN 25.99) for about $1.8 bln in cash and stock.
Oct 3 2001
10:38 AM In Play Enron Corp (ENE) 32.80 +2.19: Early this morning, Reuters reported that UK gas and oil producer BG Plc has agreed to buy ENE's oil and gas assets off India's west coast for $388 mln. Stock has gained $1.50 over last hour as sometimes late night reports take a while to filter into stock.
Sep 10 2001
9:08 AM In Play Enron Corp (ENE) 31.57: Hearing from sources at Bernstein that the firm upgraded ENE to OUTPERFORM from Mkt Perform on valuation; firm has a 2002 estimate of $2.40 vs Multex consensus of $2.18; expects energy market volatility to support merchant business growth.
Aug 15 2001
8:00 AM In Play Enron Corp (ENE) 42.93: -- Update -- Merrill Lynch lowers near-term rating to NEUTRAL from Buy after surprise resignation of CEO Skilling; while firm has great deal of faith in Ken Lay's ability to return ENE to its pre-eminent position, concerned that the premium P/E is not likely to hold up during that time... Merrill's long-term rating goes to Accumulate from Buy.
Aug 15 2001
7:16 AM In Play Enron Corp (ENE) 42.93: Slipped to an extended hours low of $39.80 after company announced the resignation of President and CEO Jeffrey K. Skilling for 'personal reasons.' Mr. Skilling vacates the position after just six months at the helm. He was credited for transforming Enron into a natural gas marketing and trading powerhouse.
Aug 8 2001
8:19 AM In Play Morgan Stanley Portfolio : Morgan Stanley making changes to its model portfolio: adding 1% in each of PNX and MMM; removing 2% position in ENE; maintaining cash position of 10%.
Jul 24 2001
8:50 AM In Play Salomon on Gas/Power : Salomon Smith Barney downgrades the following stocks to OUTPERFORM from Buy with price target cuts in parentheses: WMB (54 to 40), NRG (40 to 27), CPN (70 to 48), AYE (60 to 50), PEG (60 to 52), UCU (36 to 35). Also cuts targets on: ETR (48 to 42), PCG (29 to 17), EPG (85 to 65), EXC (80 to 70), FPL (65 to 60), PPL (65 to 60), XEL (36 to 32); maintains bullish view on companies not leveraged to power prices, with top picks: DYN, ENE.
Jul 12 2001
6:55 AM In Play Enron Corp (ENE) 49.10: -- Update -- Plans to significantly reduce its broadband cost structure to match the reduced revenue opportunities currently available.
Jul 12 2001
6:51 AM In Play Enron Corp (ENE) 49.10: Company reports Q2 net of $0.45 a share, 3 cents above consensus, vs yr-ago EPS of $0.34. ENE confident in achieving consensus earnings of $1.80 in 2001 and issues guidance of $2.15 for 2002 (consensus $2.12).
Jun 19 2001
3:29 PM In Play Enron Corp (ENE) 44.60 -0.10 (-0.2%): Company reiterates strong confidence in its earnings outlook. After reviewing the recent FERC action on price controls in the western U.S., ENE still very confident it will meet Q2 and full yr consensus estimates of $0.42 and $1.79, respectively.
Apr 19 2001
12:49 PM In Play Avici Systems (AVCI) 15.10 +0.80: -- Update -- Stock gains momentum after CEO interview on CNBC, but upside might be limited by a somewhat negative Light Reading article that highlight company's burn rate and customer concentration (85% of revenues from T, ENE, and Q).
Apr 17 2001
9:34 AM In Play Early Movers : Early strength in the following stocks in the face of broader market weakness: BTGC (+17%), PLUG (+6%), ENE (+1.5%), IBM (+1%), AOL (+1%). IBM probably considered the most surprising name on the early list of runners.
Apr 17 2001
9:05 AM In Play Upside Earnings Surprises : The energy sector continues to deliver strong quarterly results, with Enron (ENE) and Diamond Offshore (DO) announcing earnings this morning that exceeded estimates by 7% and 17%, respectively... Pharm Product (PPDI) beat by 4% and announced a 2-for-1 stock split... EarthWeb (EWBX) reported cash earnings for the qtr of $0.04 a share, vs loss of $0.11 anticipated by Wall Street... Also issuing upside surprises were: JNJ, SGP, MAR, PMTC, CORR.
Apr 17 2001
7:24 AM In Play Enron Corp (ENE) 59.44: Reports Q1 net of $0.47 a share, 2 cents above Wall Street views, vs yr-ago EPS of $0.40; ENE increasing its 2001 guidance to $1.75-$1.80 (consensus $1.75).
Apr 6 2001
12:29 PM In Play PG&E Corp (PCG) 11.36 -0.02 (0.2%): -- Update -- Stock halted on news that California utility has filed for bankruptcy protection. Issues to watch in response to this news include fellow Cal utility Edison International (EIX), as well as suppliers such as wholesale energy providers DKE, ENE, WMB.
Apr 3 2001
3:58 PM In Play Merrill Lynch Power Tech Conference : Merrill Lynch is hosting a Power Technology Conference tomorrow with CPST, ACPW, ENE, BLDP and FCEL making presentations.
Mar 26 2001
9:59 AM In Play FuelCell Energy (FCEL) 54 11/16 +2 15/16 (+5.6%): -- Technical -- Continues on the offensive in early trade in the wake of Friday's announcement of deal with Enron (ENE +1.5). However, has been stymied near resistance at its 50/200 day simple ma (56.3/57.6). Intraday support is at 53 1/4 with a secondary floor at 52.
Mar 23 2001
2:02 PM In Play FuelCell Energy (FCEL) 53 3/16 +4 13/64: Stock spikes after a portfolio manager on CNBC notes involvement of Enron (ENE) as a validation for FCEL technology; then gets an additional lift as Lehman squawks positively, noting potential for a $124 mln, 5-year contract with ENE.
Mar 23 2001
12:48 PM In Play Enron Corp (ENE) 57.89 +2.87 (+5.2%): ENE hosting a 1ET conference call to provide a general update on the company. Dial-in number is 913.981.4910.
Mar 22 2001
10:36 AM In Play Enron Corp (ENE) 52.49 -3.4 (-6.1%): -- Update -- Goldman Sachs believes that value investors can easily justify owning ENE now that the company has reaffirmed guidance. Feels that both the valuation and the story are compelling.
Mar 22 2001
7:31 AM In Play Enron Corp (ENE) 55.89: Company remains comfortable with the previously announced targets for 2001 recurring earnings of $1.70-$1.75 per diluted share (mean $1.74). Comments follow steep decline in stock yesterday on concerns over In statement this morning,
Mar 21 2001
3:18 PM In Play Enron Corp (ENE) 56.10 -4.85: Merrill Lynch defending the stock; claiming that investors have misunderstood the Dabhol situation in India, and that the Indian govt has stated that they will stand behind their obligations. Also hearing from sources that Salomon Smith Barney is defending ENE. In addition to downplaying Indian situation, firm reportedly states that ENE has confirmed that there will be layoffs in its bandwidth division, but that layoffs won't be among revenue-generating staff and reflect consolidation of back-office staff rather than weakness in bandwidth trading. Both firms expect ENE to make its quarter.
Mar 12 2001
9:05 AM In Play Enron Corp (ENE) 68.84: Prudential comments on Blockbuster's (BBI) decision to terminate deal with Enron: Says though the agreement was not expected to produce positive earnings for at least five years, the value of the deal was already discounted in the stock of at least $5 per share; maintains STRONG BUY would use any weakness as a buying opportunity.
Jan 25 2001
7:18 AM In Play Enron Corp (ENE) 79 3/4: Raises 2001 earnings target to range of $1.70-$1.75. The current First Call mean estimate for 2001 is $1.66 a share.
Jan 24 2001
9:44 AM In Play Enron Corp (ENE) 81 13/16 +3 1/4 (+4.1%): Issue attracting interest ahead of tomorrow's analyst meeting.
Jan 22 2001
2:24 PM In Play Enron Corp (ENE) 74 1/16 +3 3/16 (+4.5%): -- Update -- Goldman Sachs lifts 2001 earnings estimate to $1.75 from $1.65 on heels of company's report of stronger-than-expected Q400 numbers; believes that estimate could be conservative given strength of business.
Jan 22 2001
7:06 AM In Play Enron Corp (ENE) 70 7/8: Reports Q4 earnings of $0.41 a share, 6 cents above Wall Street views, vs yr-ago EPS of $0.31.
Jan 19 2001
3:31 PM In Play Earnings : Monday before the open: BLS, COC.B, DSCM, ENE, GALT, LXK, FLSH, SAFC are among those expected to post quarterly results. See our Earnings Calendar for more information.
Dec 15 2000
1:34 PM In Play Azurix (AZX) 8 1/16 +1 15/16 (+31.6%): Agrees to be acquired by Enron Corp. (ENE) for $8 3/8 per share in cash.
Dec 13 2000
7:29 AM In Play Enron Corp (ENE) 77 3/16: Current COO Jeffrey K. Skilling has been promoted to CEO, replacing Kenneth L. Lay. Mr. Lay will continue to serve as chairman of the board. |
