- Calpine (CPN +2%) is higher despite reporting a sizeable Q2 loss, as the power generation company confirms it is in discussions regarding a potential sale.
- CPN provides no details about the talks; Bloomberg reported earlier this week that it was engaged in talks with Energy Capital Partners.
- CPN says it saw stronger power prices for its Texas plants in the constrained Houston zone, and the PJM capacity auction yielded positive prints for its Mid-Atlantic fleet, but "while these trends support... a sound investment thesis for Calpine, the public equity markets have undervalued our business and under-appreciated our strong track record."