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CPN

Calpine

$11.00

-0.15 (-1.35%)

11:18
12/01/16
12/01
11:18
12/01/16
11:18

Calpine sees net cash deployed of about $900M by FY16-end

Calpine closed the previously announced acquisition of Noble Americas Energy Solutions. Calpine purchased Noble Solutions for $800M plus working capital. Through collateral optimization and synergies and the runoff of acquired legacy hedges, Calpine expects net cash deployed of approximately $900M by year-end 2016, declining to approximately $700M substantially within the first year. The acquisition was funded with a combination of cash on hand and a one-year, $550M term loan priced at LIBOR plus 175 basis points. The company intends to repay the term loan during 2017 with proceeds from announced asset sales and cash from operations, including that generated from the anticipated collateral synergies. Concurrent with the closing of the Noble Solutions acquisition, Calpine has upsized its corporate revolver to approximately $1.8B through June 2020.

CPN Calpine
$11.00

-0.15 (-1.35%)

11/02/16
UBSW
11/02/16
DOWNGRADE
Target $13
UBSW
Neutral
Calpine downgraded to Neutral from Buy at UBS
UBS analyst Julien Dumoulin-Smith downgraded Calpine to Neutral after lowering his estimates to reflect management's implied guidance. How the company will use its excess cash remains a key question, Dumoulin-Smith tells investors in a post-earnings research note. He believes consensus estimates have downside risk and cut his price target for the shares to $13 from $15.
11/09/16
SBSH
11/09/16
NO CHANGE
SBSH
Citi sees 10% upside for Calpine, Dynegy, NRG Energy
Citi analyst Praful Mehta earlier today said he sees 10% upside for shares of Calpine (CPN), Dynegy (DYN) and NRG Energy (NRG) following Donald Trump's election win. Trump will likely "slow down the march of renewables," Mehta tells investors in a research note. Any slowdown in renewables will likely extend the economic asset life of independent power producers' existing asset bases, the analyst contends.
11/22/16
BOFA
11/22/16
DOWNGRADE
BOFA
Neutral
Calpine downgraded to Neutral from Buy at BofA/Merrill
11/22/16
BOFA
11/22/16
DOWNGRADE
Target $12
BOFA
Neutral
Calpine downgraded to Neutral on higher rates at BofA/Merrill
As previously reported, BofA/Merrill downgraded Calpine to Neutral from Buy and lowered its price target to $12 from $14. Analyst Brian Chin sees greater risk to utility valuations based on an increased inflationary view. BofA/Merrill now expects the 10 year Treasury yield to be 2.65% by year end 2017, resulting in 8% downside risk to utility valuations, and as much as 17% downside risk if the yield rises to 3%, the analyst wrote.

TODAY'S FREE FLY STORIES

KFRC

Kforce

$25.50

0.3 (1.19%)

05:15
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INTU

Intuit

$120.70

1.27 (1.06%)

05:14
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HPE

HP Enterprise

$24.66

-0.12 (-0.48%)

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W

Wayfair

$38.58

-2.68 (-6.50%)

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Wayfair rating change  »

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HTGC

Hercules Capital

$14.94

-0.49 (-3.18%)

05:12
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Hercules Capital rating change  »

Hercules Capital…

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IVR

Invesco Mortgage

$15.57

0.08 (0.52%)

05:12
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Invesco Mortgage rating change  »

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  • 03

    May

REG

Regency Centers

$70.95

0.94 (1.34%)

, EQY

Equity One

$31.91

0.39 (1.24%)

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Equity One to host special shareholder meeting »

Special Shareholder…

REG

Regency Centers

$70.95

0.94 (1.34%)

EQY

Equity One

$31.91

0.39 (1.24%)

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MMM

3M

$187.19

1.15 (0.62%)

, BIOL

BIOLASE

$1.50

-0.02 (-1.32%)

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MMM

3M

$187.19

1.15 (0.62%)

BIOL

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$1.50

-0.02 (-1.32%)

COF

Capital One

$93.41

0.52 (0.56%)

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RIO

Rio Tinto

$42.51

-1.83 (-4.13%)

04:55
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Rio Tinto management to meet with Jefferies »

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EQY

Equity One

$31.91

0.39 (1.24%)

, REG

Regency Centers

$70.95

0.94 (1.34%)

04:55
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Conference/Events
Regency Centers to host special shareholder meeting »

Special Shareholder…

EQY

Equity One

$31.91

0.39 (1.24%)

REG

Regency Centers

$70.95

0.94 (1.34%)

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  • 24

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CASM

CAS Medical

$1.48

-0.01 (-0.67%)

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CAS Medical management to meet with Craig Hallum »

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  • 24

    Feb

PBNC

Paragon Commercial

$50.50

-0.35 (-0.69%)

04:55
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Paragon Commercial management to meet with Sandler O'Neill »

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  • 24

    Feb

SC

Santander Consumer

$14.33

-0.12 (-0.83%)

04:55
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Santander Consumer management to meet with Jefferies »

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  • 24

    Feb

ELNK

EarthLink

$5.85

0.04 (0.69%)

, WIN

Windstream

$7.29

0.07 (0.97%)

04:55
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Virtual Special…

ELNK

EarthLink

$5.85

0.04 (0.69%)

WIN

Windstream

$7.29

0.07 (0.97%)

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  • 24

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  • 01

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GIS

General Mills

$60.78

0.19 (0.31%)

, TSN

Tyson Foods

$62.82

-0.4 (-0.63%)

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GIS

General Mills

$60.78

0.19 (0.31%)

TSN

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TWNK

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MJN

Mead Johnson

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K

Kellogg

$74.80

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MDLZ

Mondelez

$44.89

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INGR

Ingredion

$122.28

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LNCE

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SYY

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$52.89

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JNJ

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SJM

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CPB

Campbell Soup

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PEP

PepsiCo

$109.54

0.13 (0.12%)

CLX

Clorox

$135.83

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BG

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$80.05

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PG

Procter & Gamble

$91.13

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DANOY

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$13.34

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SPB

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KO

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IFF

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STZ

Constellation Brands

$153.60

-6.6 (-4.12%)

NSRGY

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$74.20

0.4 (0.54%)

CHD

Church & Dwight

$49.62

-0.07 (-0.14%)

UN

Unilever; also tag UL

$46.58

-0.17 (-0.36%)

CL

Colgate-Palmolive

$74.44

0.95 (1.29%)

NWL

Newell Brands

$46.80

-0.26 (-0.55%)

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04:55
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CLSA financial tech analyst holds an analyst/industry conference call »

Financial Technology…

AGN

Allergan

$246.33

0.71 (0.29%)

, EDGE

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$10.00

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AGN

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EDGE

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AMGN

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$174.01

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ATRC

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$17.35

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BMY

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$55.77

0.42 (0.76%)

DNA

Bought by RHHBY

MDCO

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$51.84

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MDT

Medtronic

$80.74

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MRK

Merck

$65.85

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PH

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PTLA

Portola Pharmaceuticals

$32.16

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Q

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$78.12

0.77 (1.00%)

SSNLF

Samsung

SAY

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TWTR

Twitter

$16.03

-0.05 (-0.31%)

WTKWY

Wolters Kluwer

$40.39

0.502 (1.26%)

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04:55
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02/24
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Wells Fargo housing analyst holds an analyst/industry conference call »

Senior Housing Analyst…

NVO

Novo Nordisk

$35.78

0.53 (1.50%)

04:55
02/24/17
02/24
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04:55
Conference/Events
Novo Nordisk management to meet with Jefferies »

Meetings to be held in…

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  • 24

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    Mar

KAR

KAR Auction

$44.50

-0.3 (-0.67%)

04:55
02/24/17
02/24
04:55
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04:55
Conference/Events
KAR Auction management to meet with Jefferies »

Meeting to be held in…

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03/06/13
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  • 24

    Feb

  • 13

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  • 15

    Mar

04:55
02/24/17
02/24
04:55
02/24/17
04:55
General news
Consumer Sentiment Index to be reported at 10:00 »

February Consumer…

04:55
02/24/17
02/24
04:55
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General news
New Home Sales to be reported at 10:00 »

January New Home Sales…

VWDRY

Vestas

$25.08

0.175 (0.70%)

04:55
02/24/17
02/24
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04:55
Conference/Events
Vestas management to meet with JPMorgan »

Meetings to be held in…

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  • 24

    Feb

HSIC

Henry Schein

$171.92

-0.72 (-0.42%)

04:55
02/24/17
02/24
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04:55
Conference/Events
Henry Schein management to meet with Jefferies »

Meeting to be held in…

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  • 24

    Feb

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