Slid

Dynegy Inc. managed to trim its losses in 2004 compared to the previous year, but the company’s share price slid Thursday after it announced it will lose more in 2005 than it forecast two months ago. The Houston-based company also reported a 4Q2004 net loss of $171 million (minus 47 cents/share) — about $50 million more than Wall Street had forecast — compared with a loss of $554 million (minus $1.49) for 4Q2003.

Dynegy Inc. managed to trim its losses in 2004 compared to the previous year, but its stock price slid nearly 6% early Thursday after the company said it would lose more in 2005 than it forecast two months ago. The Houston-based company also reported a 4Q2004 net loss of $171 million (minus 47 cents/share) — about $50 million more than Wall Street had forecast — compared with a loss of $554 million (minus $1.49) for 4Q2003.

After a one-day price hike, natural gas futures slid back down to early week levels Wednesday as traders chose to ignore a rally in crude oil and sided instead with bearish intermediate-term weather forecasts. The March contract closed at $6.109, down 6.6 cents for the session and well within the market’s recent $5.95-6.48 trading range. By comparison, March crude notched new three-week contract highs and settled at $48.33 per barrel, up $1.07 on the day.

The July gas futures contract slid 19.6 cents lower on Monday to $6.314, succumbing to overbought conditions, pressure from strong gas storage injections, a declining storage deficit and normal temperatures across most of the nation.

Pressured by mild weather and weakness in the nearby crude oil pit, natural gas futures slid lower Wednesday as traders continued to retrace gains made during the first half of the month. However, after extending to a double-digit loss in the morning, the May contract battled back in the afternoon as traders positioned themselves ahead of Thursday’s storage report. The prompt month closed at $5.569, down 7.6 cents for the session, but up 4.9 cents from its morning low.

In what was likely the calm before the storm, natural gas prices slid quietly to either side of unchanged Wednesday as traders elected to wait for fresh storage and weather news due out on Thursday. At the closing bell the December contract was 0.7 cents lower at $4.254. Estimated volume was proof of the quiet trading, with only 74,943 contracts changing hands.

After reaching a new high for the week early in the session, natural gas futures slid back down near unchanged Thursday afternoon as traders appeared content to follow a “sell-the-rallies” trading strategy. October finished the session at $2.44, up 2 cents on the day, but more than 6 cents off its highs. Estimated volume was light, with just 71,254 contracts changing hands.

With little in the way of fresh fundamental or technical developments, natural gas futures slid sideways and lower for the second day in a row Tuesday, as traders elected to remain mostly on the sidelines ahead of fresh storage data to be released this afternoon. The May contract closed 4.7 cents lower at $5.078.

Pressured by a steady stream of local and fund selling, naturalgas futures slid lower yesterday amid an improving winter storageoutlook and continued mild temperatures across the nation. TheNovember contract took it squarely on the chin, dropping 25.2 centsto close at $4.82, almost a dollar below its Oct. 12 high.