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Calpine Shares Rise On Earnings Surprise
Shares of Calpine(CPN Quote), an electricity producer, climbed 10% after the company turned in better-than-expected first-quarter earnings, even as revenue declined.
Before the market opened Friday, Calpine said it made $32 million, or 7 cents a share, in the quarter, safely ahead of Wall Street estimates of an 11-cent loss, according to a Thomson Reuters survey of analysts.
A year ago, the company lost $214 million, or 44 cents a share, as it emerged from Chapter 11 protection. ...
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