Shares of Calpine (CPN -1.7%) dip this morning as its Q4 bottom line beat estimates, but revenue...

|About: Calpine Corporation (CPN)|By:, SA News Editor

Shares of Calpine (CPN -1.7%) dip this morning as its Q4 bottom line beat estimates, but revenue hit far wide of the mark. The wholesale power company swung to a net profit for the quarter after posting a large gain from the sale of some non-essential assets, which gave a big boost to operating margins, but its core loss widened as revenue declined. The company also raised its share buyback program by $400M, bringing its total authorization to $1M.