Hot Stock Blurp – DYN
Power company Dynegy Inc. (NYSE: DYN) posted a third quarter loss of $212 million, or 25 cents per share, primarily attributable to asset impairment charges and mark-to-market losses; this compares to the year-ago period’s net income of $605 million or $0.72 per diluted share. However, adjusted quarterly earnings rose to $388 million, up 44% period-over-period, helped by sale and assignment of a multi-year power sales contract, higher capacity and tolling revenues and higher realized energy prices in the Midwest. “While Dynegy’s third quarter financial results continued to be impacted by the overall weakness in U.S. energy prices, we again demonstrated the benefits of having a diverse, well-operated fleet of power generation assets,” Bruce A. Williamson, DYN chairman, president and CEO said in the press release.
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