Independent power producer

Calpine

(CPN)

expects to easily beat analysts' estimates for the fourth quarter and full year.

The company, which is based in San Jose, Calif., now expects fourth-quarter earnings of 30 cents a share, up from 12 cents a share in the same period last year, and full-year earnings of $1.05 a share, compared with 44 cents a share in 1999.

The figures exceed analysts' expectations of 24 cents a share for the fourth quarter and 96 cents a share for 2000, according to a survey by

First Call/Thomson Financial

.

Shares of Calpine ended higher by $2.56, or 7.9%, to $35.06 at Friday's close on the Big Board.