Dynegy Fell 32% Last Week

Dynegy

(DYN)

was down 32% for the week after the company lowered its outlook and said it was being investigated by the

Securities and Exchange Commission

for possible accounting irregularities. On Thursday, the company said it expects full-year earnings in the range of $2 to $2.05 a share, well short of the consensus estimate of $2.26 due to weaknesses in its core markets. Dynegy was also hurt by the news of an SEC probe into the accounting of an energy deal that resulted in a "significant" tax benefit for the company. The news led to the threat of a debt rating downgrade by Moody's Investors Service on Friday and several downgrades by prominent analysts.