Stock Investment News - (NYSE:DYN) Reports Loss, Shares Up Sharply

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Dynegy Inc. (NYSE:DYN) rose 6.50% to $2.00 after it reported a third-quarter net loss of $212 million, or 25 cents a share, a reversal from the net profit of $605 million, or 72 cents a share, seen in the company's year-earlier period. Quarterly revenue for the Houston-based power generator dropped to $673 million from the prior year's $1.76 billion. The company's quarterly loss from continuing operations amounted to 10 cents a share, as Dynegy incurred asset-impairment charges and mark-to-market losses. Dynegy also said it expects to post a net loss of $1.1 billion to $1.2 billion for 2009 and pegged its projected loss for 2010 in a range of $175 million to $250 million.

Dynegy Inc. (Dynegy) is a holding company and conducts all of its business operations, through its subsidiaries. Dynegy is engaged in the production and sale of electric energy, capacity and ancillary services from its fleet of 27 operating power plants in 13 states totaling nearly 18,000 megawatt of generating capacity.