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Dynegy (DYN) raised its earnings guidance for the first quarter and full year, thanks in part to the recent strong performance from the company's core energy businesses.

The company now expects to report first-quarter earnings of about 40 cents a share. According to

Thomson Financial/First Call

, analysts expect the company to earn 31 cents. Dynegy earned 26 cents in the year-ago period. The company previously expected a profit of 30 cents to 32 cents for the quarter.

Based on the first-quarter performance, the energy and communications company increased its earnings forecast for 2001 to a range of $1.92 to $1.97 a share from the current range of $1.80 to $1.87. Wall Street is looking for earnings of $1.84, up from $1.43 in 2000.

Dynegy will release first-quarter results on April 17. Shares of Dynegy gained 49 cents, or 1%, to $51.50 in recent

New York Stock Exchange