Earnings

Dynegy 3Q Loss Deepens on Softer Prices, Gas Generation

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Dynegy, which saw one of its major subsidiaries file for bankruptcy earlier this month, reported a much wider third-quarter loss, as weak prices and lower demand continued to cripple operations. The company was impacted by lower generation for both the coal and gas segments during the period as well as lower realized prices and spark spreads. Dynegy ran on reduced capacity during the quarter and saw its revenue slide with fewer hedging opportunities. Dynegy’s major subsidiary, Dynegy Holdings, and four of its other subsidiaries, including Dynegy Northeast Generation, Hudson Power, Dynegy Danskammer and Dynegy Roseton, all filed for Chapter 11 bankruptcy protection last week. This article is a linkout to read more: http://www.foxbusiness.com/industries/2011/11/14/dynegy-3q-loss-deepens-on-softer-prices-gas-generation/?cmpid=partner_aol#ixzz1di61bPbr

Published November 14, 2011 at 2:35 PM

Halliburton 3Q Sales Soar 40%, Beat Street

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Halliburton reported on Monday a stronger-than-expected 26% increase in third-quarter profit lifted by very strong demand in North America and a recovery in Canada and its other international markets. The company’s chief Dave Lesar said in a statement the recent drop in oil prices and declines in equity markets have been “unsettling to investors,” however he predicted the company will remain on its long-term course as its international businesses recover and activity improves. The world’s second-largest oilfield services company posted net income of $685 million, or 74 cents a share, compared with $545 million, or 60 cents a share, in the same quarter last year. This article is a linkout, for the full article go to: http://www.foxbusiness.com/markets/2011/10/17/shale-gas-helps-halliburton-profit-beat-street/#ixzz1b99R0DLy

Published October 18, 2011 at 12:30 PM