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Calpine +2% despite Q2 loss, as it confirms sale talks

Jul. 28, 2017 12:54 PM ETCalpine Corporation (CPN) StockCPNBy: Carl Surran, SA News Editor
  • 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."

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