DYN: Dynegy Inc. Instablogs

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Thursday, May 2, 10:56 AM Dynegy (DYN): Q1 EPS of -$1.42 misses by $1.26. Revenue of $318M misses by $86.M. (PR) Comment! [Earnings, Breaking News]
Saturday, April 20, 9:45 AM California may face its biggest regional power shortages since the days of Enron this summer, as the state grid will be operating without Edison's (EIX) San Onofre nuclear power plant and two natural gas-fired units, while hydroelectric output will be at a three-year low. Even bigger shortages may await in the next decade as state environmental regulations force more plants to shut down. 33 Comments [Energy]
Monday, April 1, 2:37 PM If you like natural gas, buy coal. That's how Heard On The Street sees it, singling out Dynergy (DYN) as the best investment vehicle for natural gas bulls. DYN's recent deal for coal-fired power plants was sweet because gas-fired plants have taken market share from coal-fired plants and helped lower electricity prices; rising gas prices would unwind both trends, and DYN's leverage to nat gas prices will jump substantially. Comment! [Energy]
Thursday, March 14, 8:22 AM Utility company Ameren (AEE) agrees to sell its merchant generation business to Dynegy (DYN) and will focus on its rate-regulated electric, natural gas and transmission operations. AEE estimates benefits from the divestiture at $900M; the sale removes $825M in debt from its balance sheet and will create ~$180M in tax benefits. AEE +1.8% premarket. Comment! [Energy, On the Move]
Thursday, March 14, 7:44 AM Dynegy (DYN): Q4 EPS of -$1.13. Revenue of $312M. (PR) Comment! [Earnings, Breaking News]
Monday, January 7, 5:00 PM Dynegy (DYN) COO Kevin Howell is stepping down effective immediately. Howell, who came out of retirement to join the management team at Dynegy in June 2011 during a critical period in the company's restructuring, will continue as an employee for the company both in an advisory capacity as well as supporting an orderly transition of his current responsibilities. The company expects to announce a replacement during Q113. Comment! [Energy]
Monday, November 12, 2012, 9:28 AM Oaktree Capital (OAK) has acquired a 7.23% stake in recently-emerged-from-Chapter 11 Dynegy (DYNIQ.PK). The house of Howard Marks is one of the largest debt holders of the energy company, which last week reported a loss of $41M for Q3 (less than a pre-bankruptcy loss of $129M a year ago). Comment! [Financials, M&A]
Monday, October 1, 2012, 5:19 PM Dynegy (DYNIQ.PK) is leaving bankruptcy protection a lot leaner but perhaps more vulnerable to a takeover. The business climate for power producers has grown even tougher, as low electricity prices have squeezed profits, so Dynegy confronts questions about how it can compete against rivals that have combined forces, leaving it undersized in a business where scale matters. Comment! [Energy]
Tuesday, August 28, 2012, 9:59 AM U.S. Trustee Tracy Hope Davis yesterday filed an objection to a plan by Dynegy (DYNIQ.PK) and its Dynegy Holdings unit to emerge from bankruptcy. Although Dynegy says the proposal has the overwhelming backing of creditors with $3.5B of claims, Davis - whose office is part of the DOJ - argues that the plan restricts the ability of third parties to bring liability claims. Comment! [Energy]
Friday, July 6, 2012, 5:51 AM Dynegy (DYN) files for bankruptcy protection as part of a deal with its creditors whereby it will merge with its Dynegy Holdings unit and the creditors will then receive a 99% stake in the combined company. Dynegy subsidiaries that manage its coal and gas-fired ops are not included in the Chapter 11 filing. (PR) (previous) Comment! [M&A]
Friday, June 1, 2012, 3:55 PM Dynegy (DYN +11.4%) wins a U.S. bankruptcy judge's approval of a settlement with creditors, bringing the power producer's Dynegy Holdings unit closer to emerging from Chapter 11 protection. DYN says creditors who joined the settlement hold more than $2.7B of claims against Dynegy Holdings. Comment! [Energy, On the Move]
Thursday, May 10, 2012, 7:46 AM Dynegy (DYN): Q1 EPS of -$0.47 may not be comparable to consensus of -$0.68. Revenue of $177M misses by $178M. (PR) Comment! [Earnings]
Wednesday, April 4, 2012, 10:23 AM Shares of Dynegy (DYN -21.1%) sink after the firm announces that it reached a settlement with creditors over $2.5B in claims against one its subsidiaries. Under the terms of the deal, unsecured creditors will receive common equity repping a 99% stake in a reorganized company. Comment! [On the Move, Energy]
Monday, March 19, 2012, 9:05 AM Premarket gainers: ABVT +14%. DYN +10%. THLD +6%. NBG +6%. PWRD +4%.
Losers: S -5%. IRE -4%. FRO -3%. AIXG -3%. ACI -3%. Comment! [On the Move]
Monday, March 12, 2012, 3:34 PM Dynegy (DYN -28.2%) shares continue to slide as a U.S. trustee asks the judge overseeing the bankruptcy case of DYN’s holding company to appoint a trustee to manage the case. A court-appointed examiner alleged Friday that DYN fraudulently shuffled power-plant assets into separate units from those that filed for bankruptcy, an action he called "willful misconduct." Comment! [Energy, On the Move]
Friday, March 9, 2012, 1:02 PM Dynergy (DYN -30.5%) plummets after a public examiner says its transfer of coal assets to its parent company was fraudulent, and to the detriment of creditors. The examiner was appointed at the request of bondholders shortly after Dynergy filed for bankruptcy in November. 1 Comment [Energy, On the Move]

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