Dynegy Inc. CEO Chuck Watson said yesterday he had “never beenso excited” about his company’s fourth quarter and yearendearnings, because across the board, every business segment of theHouston-based company was up. Referring to California, Watson saidDynegy had taken steps “months ago,” in anticipation of today’sproblems, and now was actively supporting planned changes there.
Excited
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$2.70s Too Much For May Futures
If bullish natural gas futures traders became excited when theMay contract moved above the $2.70 mark yesterday morning, theirenthusiasm was tempered following the spot month’s daily close of$2.689. Although this represents a daily gain of 2.1 cents, onetrader is concerned that futures prices will be falling in the daysto come. “I was hoping a break above $2.70 would lead to a move to$2.80, but traders seemed pretty quick to slam the door. It lookslike profit taking has started ahead of the long holiday weekend,”he said. The New York Mercantile Exchange will be closed for GoodFriday.
April 9, 1998
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