text_combined: enron mentions usa enron ceo sold 1 2 mln compaq shares reuters english news service 11 09 01 arbs sit possible dynergy enron deal dow jones news service 11 09 01 power points dynegy know getting dow jones energy service 11 09 01 usa update 1 enron rating cut woes finally hit trading floor reuters english news service 11 09 01 usa u stocks crawl higher profit warnings weigh reuters english news service 11 09 01 uk uk power prices gain take strength gas reuters english news service 11 09 01 play day dynegy close buying beleaguered enron cnnfn halftime report 11 09 01 indian court restrains enron serving termination notice power project associated press newswires 11 09 01 source dynegy close deal buy enron associated press newswires 11 09 01 usa update 1 enron dynegy shares jump talk deal near reuters english news service 11 09 01 indian court bars enron terminating power project dow jones international news 11 09 01 usa enron faces lawsuits seeking class action status reuters english news service 11 09 01 usa analysis enron seen test u sec course pitt reuters english news service 11 09 01 usa dynegy close complete deal buy enron wsj reuters english news service 11 09 01 bandwidth market survive without independent enron dow jones energy service 11 09 01 india enron dabhol suffers legal setback indian row reuters english news service 11 09 01 dynegy nears deal buy enron 7 billion stock transaction dow jones business news 11 09 01 usa updatel moody cuts enron ratings may cut reuters english news service 11 09 01 enron long term ratings cut baa 3 baa 2 moody afx news 11 09 01 enron dynergy close deal cnbc afx news 11 09 01 easton call returns cnnfn market coverage morning 11 09 01 usa enron shares slip debt downgrade concerns reuters english news service 11 09 01 moody diaz enron credit downgrade outlook comment bloomberg 11 09 01 commerzbank analyst meade possible buyout enron comment bloomberg 11 09 01 kent income fund mitchell stapley enron bonds comment bloomberg 11 09 01 harris investment coxe possible buyout enron comment bloomberg 11 09 01 strong american utilities fund vuchetich dynegy comment bloomberg 11 09 01 dynegy bid enron said possible bail deal houston business journal 11 09 01 dynegy may acquire enron 22 bln stock debt update 6 bloomberg 11 09 01 transcanada pipelines ceo dynegy enron talks comment bloomberg 11 09 01 usa enron ceo sold 1 2 mln compaq shares 11 09 2001 reuters english news service c reuters limited 2001 washington nov 9 reuters enron corp chairman chief executive kenneth lay sits board compaq computer corp sold 1 2 million compaq stock last month regulatory filing friday said lay sold 124 596 common shares compaq oct 29 9 25 share according filing securities exchange commission left 340 724 shares transaction filing added compaq shares 25 cents 7 74 afternoon trading new york stock exchange compaq whose proposed 19 5 billion merger hewlett packard co looks doubt following opposition hewlett packard families immediately return call seeking comment lay sale news transaction comes lay company enron embattled energy marketing trading giant verge bailout smaller rival dynegy inc enron trimmed earnings 591 million 22 percent 1997 2000 increased debt 628 million 6 percent bookkeeping revision aimed calming firestorm engulfed company recent weeks enron stock credit ratings plunged following disclosures balance sheet deals investigation securities exchange commission possible conflict interest deals contributed 1 billion third quarter charge 1 2 billion reduction shareholder equity enron shares 54 cents 8 95 afternoon trading nyse announcement possible dynegy acquisition expected later friday copyright 2000 dow jones company inc rights reserved arbs sit possible dynergy enron deal janet whitman dow jones newswires 11 09 2001 dow jones news service copyright c 2001 dow jones company inc new york dow jones brutal year risk arbitrage business many arbitrageurs also known takeover traders steering clear bets dynergy inc dyn possible takeover enron corp ene reluctance stems fact looming deal reported dow jones newswires yet confirmed two houston energy trading companies worrisome however possibility enron already crippled equity probe restatement four years earnings may even deeper woes report unless enron providing significantly disclosure buyer rest world see buyer could get comfortable said arbitrageur new york hedge fund worries takeover traders likelihood agreement would likely extensive material adverse change mac clauses providing plenty room dynergy exit deal problems arise enron investor hard something know said arbitrageur enron take comfort someone stepping plate enough another arbitrageur added gets announced deal lot issues starting bears risk enron lot lawsuits alleged accounting fraud according wall street journal dynergy swap nearly 0 27 share stock share enron also deal chevrontexaco corp cvx owns 26 dynergy make immediate cash injection 1 5 billion deal add another billion closing shares dynergy jumped 10 heavy trading bolstered idea company picking enron steal shares traded recently 39 61 3 06 share acquirer shares typically fall deal announced part arbitrageurs sell shares short going long target case however arbitrageurs largely sidelines perhaps alleviating downside pressure dynergy enron meanwhile traded 4 higher recently swapping hands 8 77 share heavy volume stock buoyed reported bid dynergy well new credit rating moody firm downgraded enron rating notch speculative bad junk rating feared copyright 2000 dow jones company inc rights reserved power points dynegy know getting mark golden 11 09 2001 dow jones energy service copyright c 2001 dow jones 201 938 4604 mark golden dowjones com copyright 2000 dow jones company inc rights reserved usa update 1 enron rating cut woes finally hit trading floor janet mcgurty 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters enron corp verge bailout rival dynegy inc friday credit ratings cut notch junk status energy traders became increasingly leery dealing company moody investors service cut enron long short term ratings affecting 13 billion debt warned company rating could cut junk status continued loss investor confidence impairing ability operate significant amount debt coming due near term potential increased margin requirements counterparties wholesale trading operation also puts pressure enron ratings agency said company may able retain investment grade characteristics moody said enron trading partners began cast watchful eye relationship energy trading behemoth seen almost 19 billion slashed market worth past month mounting investor concerns people definitely looking dealings enron downgrade need make sure bills paid one texas based spot trader said adding company still conducting business enron stock plummeted 89 percent year moved black friday enron confirmed talks regarding acquisition enron dynegy continuing announcement expected later friday expected include 1 5 billion injection capital enron chevrontexaco corp 2 u oil company 26 5 percent holder dynegy shares enron rose 40 cents 4 8 percent 8 81 afternoon trade new york stock exchange dynegy gained 2 92 8 percent 39 42 stock actively traded nyse restated results recent weeks enron stock plunged amid investor unease disclosures balance sheet deals involving former chief financial officer deals investigation securities exchange commission possible conflict interest people want deal anymore said one trader heads trading desk one world largest oil companies thursday enron acknowledged erred past earnings reports restated financial results going back 1997 restated earnings cut net income 591 million period 22 percent increased debt 628 million pulling partnerships onto balance sheet enron also fired treasurer general counsel one divisions thursday enron trading operations appeared relatively sheltered financial troubles especially daily markets contracts trading volumes enrononline leading internet based trading system electricity actually increased rolling 30 day period beginning week enrononline dollar volumes averaged 2 6 billion 2 8 billion compared 30 day rolling average 2 6 billion according eric thode spokesman enrononline number transactions posted site averaged 6 500 monday well 5 800 average past 30 days trading pressure friday trading volume appeared wane slightly according one industry watcher watching enron board morning hardly lit said one trader u northeast board lights time transaction made delivery particular point hardest hit enron energy trading operations appear natural gas trades natural gas electricity forward contracts trades delivery one month five years ahead starting today longer forward deals enron gas side still day ahead deals though one southeast dealer said added unsure company still trading forwards long term deals electricity side people becoming much cautious entering long term energy deals enron especially one five year delivery contract gas electricity said one major midwestern power trader many major traders watch online volumes transactions many bypass system make deals telephone directly enron earlier week major natural gas producer apache corp said unwound natural gas hedges due concerns increasing risks energy derivatives market result enron recent problems copyright 2000 dow jones company inc rights reserved usa u stocks crawl higher profit warnings weigh elizabeth lazarowitz 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters stocks ticked higher early afternoon trading friday investors took positive view latest economic news profit warnings household names like h j heinz co walt disney co put cap enthusiasm energy oil services stocks helped carry market higher getting boost russia prime minister indicated russian companies join organization exporting petroleum countries oil cartel cutting production lift oil prices market ability make virtually losses made wake sept 11 attacks new york washington given investors courage despite dismal condition corporate earnings said said nat paull portfolio manager new amsterdam partners current profit profit picture think everybody knows pretty weak focus turning 2002 definitely going rebound year paull added market surged week slew interest rate cuts europe united states wall street still torn whether moves enough patch bruised global economy traders said dow jones industrial average rose 13 69 points 0 14 percent 9 601 21 broader standard poor 500 index edged 2 49 points 0 22 percent 1 121 03 technology laced nasdaq composite rose 5 22 points 0 29 percent 1 832 99 stocks got fleeting boost news afghan anti taliban forces entered northern city mazar sharif marking advance war group suspected masterminding sept 11 attacks united states oil stocks higher including amerada hess gained 2 44 61 59 conoco inc 1 29 26 81 latest earnings news kept wall street tone subdued however entertainment giant walt disney food manufacturer heinz warned profits would likely lower expected disney said suffering weak advertising low ratings abc tv network lower attendance theme parks worsened sept 11 disney reversed early loss climbed 7 cents 18 91 heinz slumped 3 14 39 56 cutting earnings forecast citing slowdown food service business result lower demand restaurants traders said expect volume lighten 2 00 p 1900 gmt bond market closes early observance veteran day holiday monday nasdaq surged week following aggressive rate cuts european central bank bank england u federal reserve hope lower borrowing rates prompt companies spend expand turn expanding global economies corporate earnings dismal corporate outlooks mixed economic news stunted market gain report showing plunging u wholesale prices weighed stocks investors began question whether drop soon hurt earnings producer price index sharpest drop record october slowing global economy sapped energy prices american carmakers offered cut rate financing lure buyers showrooms sept 11 attacks people may worried deflation said james volk co director institutional trading davidson co portland oregon still consumer confidence indicator offered bright note sentiment strengthened early november expectations current conditions rose 83 5 82 7 october according university michigan index analysts forecast index fall 78 7 enron corp active new york stock exchange 10 th session past 13 stock initially fell moody investors service cut enron short term long term rating steep loss investor confidence rose 56 cents 8 97 news trickled rival dynegy inc close taking enron 10 share enron stock credit ratings plummeted balance sheets deals investigation disclosed mid october copyright 2000 dow jones company inc rights reserved uk uk power prices gain take strength gas 11 09 2001 reuters english news service c reuters limited 2001 london nov 9 reuters british electricity prices strengthened friday playing catch gas lifted firmer oil prices traders said volume fairly light continued uncertainty enron muting market degree day ahead monday baseload electricity rose 19 50 pounds per megawatt hour 18 pounds thursday block five day ahead monday heard done 50 pounds prompt gas prices rose much six pence therm friday back cold temperatures december baseload power also stronger 18 80 pounds 18 55 pounds january baseload rose 21 1 pounds february baseload gained 20 5 pounds friday enron credit ratings cut notch junk status energy traders become increasingly wary dealing company report wall street journal friday said dynegy close buying enron currently investigation disclosures balance sheet deals 7 billion copyright 2000 dow jones 591 million earnings disappears stock closes 8 41 trusted believed company late october three weeks ago would lost 65 percent investment past three weeks going back 82 clear picking company made initial statement knowing full well huge controversy government looking investors losing faith management still said believe everything right think case might better say looking marchini would dynegy want risk exposing fear might still come viles well new information earnings restatement come company came special board brought look lawyer board bill mclucas ph used chief enforcement officer sec certain amount credibility new set numbers also performance year enron terrible earnings think 1 30 per share three quarters looking maybe 1 50 year 8 stock 1 50 earnings really cheap maybe business worth saving clear current management whole lot credit bottom fishing bottom fishing pretty cheap price mean 20 stock controversy erupted gone lower guess think value marchini know moody downgraded today business heavily depend looking good counterparts looking like much risk viles yes gone wrong last three weeks people said geeze kinds stuff going really understand company really explained think stay away let dust clear see happens clear think dynegy saying think seen enough know something left company premiere energy trading company united states energy trading decent business dynegy knows business would probably know better bond investors stock investors value marchini least shareholders hope right viles hope marchini thanks peter copyright 2000 dow jones company inc rights reserved indian court restrains enron serving termination notice power project n sunil associated press writer 11 09 2001 associated press newswires copyright 2001 associated press rights reserved bombay india ap indian court friday temporarily barred enron corp serving final termination notice state utility ongoing tug war american company 2 9 billion power project court officials said bombay high court restrained enron subsidiary dabhol power co serving notice next hearing scheduled dec 3 ruling came even talks held singapore aimed salvaging power project focusing two potential buyers enron controlling stake enron owns 65 percent shares dabhol power co two india largest private power companies tata power co bses ltd contenders vying buy enron stake v k saxena chief general manager industrial development bank india told dow jones newswires friday bombay india financial hub dpc served preliminary termination notice state run maharashtra state electricity board may 2001 following disputes payment monthly power bills according agreement dpc utility enron subsidiary serve final termination notice six months preliminary notice initial notice served may dpc six month deadline nov 19 would deferred court ruling lenders project approached high court seeking prevent dpc serving final notice 2 100 megawatt project recover money may enron stopped construction 90 percent completed project india biggest ever foreign investment enron seen share prices plunge 80 percent past three weeks worries finances talks rival energy trader dynegy inc possible merger copyright 2000 dow jones company inc rights reserved source dynegy close deal buy enron brad foss ap business writer 11 09 2001 associated press newswires copyright 2001 associated press rights reserved new york ap dynegy inc close finalizing deal buy much larger albeit troubled rival enron corp dlrs 7 billion dlrs 8 billion stock source familiar situation said deal could announced friday would include immediate infusion dlrs 1 5 billion chevrontexaco corp owns quarter dynegy source said condition anonymity chevrontexaco would contribute additional dlrs 1 billion upon completion deal though source said talks could still fall apart dynegy enron released statements confirming discussing deal declined provide details neither company could immediately reached comment friday related matter moody investors service early friday downgraded enron debt ratings one level junk bond status said company long term debt ratings remain review downgrade thursday enron corp acknowledged overstated earnings 20 percent past four years kept large amounts debt balance sheets business partnerships investigation securities exchange commission enron stock price pounded past three weeks falling roughly 80 percent concerns serious financial problems disclosed shareholders shares enron rose 9 cents dlrs 9 19 midday trading friday new york stock exchange dynegy shares climbed dlrs 3 80 10 percent dlrs 40 30 report wall street journal web site friday imminent deal enron dynegy valued dlrs 7 billion would value enron shares dlrs 9 50 according unnamed sources enron top u buyer seller natural gas top wholesale marketer united states become one nation 10 largest companies recording revenue dlrs 100 8 billion 2000 net http www enron com http www dynegy com copyright 2000 dow jones company inc rights reserved usa update 1 enron dynegy shares jump talk deal near nichola groom 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters shares enron corp climbed 9 percent friday reports beleaguered energy marketing trading giant close finalizing deal acquired dynegy inc stock fallen 73 percent since company disclosed balance sheet deals investigation u securities exchange commission 79 cents 9 4 percent 9 20 midday new york stock exchange estimated 7 billion deal two houston based companies calls dynegy swap 0 27 shares enron share wall street journal reported online edition friday deal would also include immediate injection 1 5 billion enron chevrontexaco corp holds 26 5 percent stake dynegy injection additional 1 billion deal closes journal said clearly dynegy barrel analyst john olson sanders morris harris told reuters would basically quadruple dynegy size accretive earnings contribution shares dynegy also rose climbing 3 95 10 8 percent 40 45 also friday debt rating agency moody investors service cut long short term ratings enron warned another cut possible substantial loss investor confidence hurt firm financial flexibility last month enron said would take charge 1 billion third quarter reduce shareholder equity 1 2 billion enron thursday restated financial statements since 1997 reducing earnings 591 million 22 percent four years ending 2000 increasing debt 628 million 6 percent copyright 2000 dow jones company inc rights reserved indian court bars enron terminating power project 11 09 2001 dow jones international news copyright c 2001 dow jones company inc bombay india ap indian court friday temporarily barred enron corp ene serving final termination notice state utility ongoing tug war u giant 2 9 billion power project court officials said bombay high court restrained enron subsidiary dabhol power co serving notice next hearing scheduled dec 3 ruling came even talks held singapore aimed salvaging power project focusing two potential buyers enron controlling stake enron owns 65 shares dabhol power co two india largest private power companies tata power co p tpw bses ltd p bsx contenders vying buy enron stake v k saxena chief general manager industrial development bank india told dow jones newswires friday bombay india financial hub dpc served preliminary termination notice state run maharashtra state electricity board may 2001 following disputes payment monthly power bills according agreement dpc utility enron subsidiary serve final termination notice six months preliminary notice initial notice served may dpc six month deadline nov 19 would deferred court ruling lenders project approached high court seeking prevent dpc serving final notice 2 100 megawatt project recover money may enron stopped construction 90 completed project india largest ever foreign investment copyright 2000 dow jones company inc rights reserved usa enron faces lawsuits seeking class action status david howard sinkman 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters troubled enron corp investigation u regulators talks acquired smaller rival also must contend battery lawyers smelling blood least seven law firms filed suits enron principal officers behalf shareholders bought energy trading giant shares jan 18 2000 oct 17 stock plummeted 89 percent year lawsuits accuse nation largest energy trader overstating operating results failing write assets timely basis accordance generally accepted accounting practices concealing investments may require enron issue large amounts shares cover losses houston based enron declined comment thursday enron restated financial statements 1997 2000 first two quarters year admitting erred reporting past results company also thursday fired treasurer general counsel one divisions latest executives leave forced senior positions enron firms actively seeking enron shareholders join lawsuits seek class action status suits filed united states district court southern district texas houston judge lee rosenthal assigned newby vs enron corp seeks 75 million damages according chief deputy clerk david bradley suit also named enron chairman chief executive kenneth lay former ceo jeffrey skilling former chief financial officer andrew fastow skilling long time enron executive resigned august ceo six months position fastow abruptly left company last month disclosure heart suits scheduling conference set jan 25 judge determine lawsuits consolidated case certified class action lawsuit lawyer arthur stock law firm berger montague pc one law firms filing class action suit said court would decide firm would lead attorney decision based firm represents largest shareholders since enron released earnings oct 16 u regulators launched probe enron transactions shares fallen almost 75 percent wiped 19 billion market capitalization ratings agencies slashed credit rating near junk status enron posted charges 1 billion third quarter earnings announced day earnings released would write shareholder equity 1 2 billion quite sure impact enron balance sheet investments material adequately disclosed said stock allege enron investments azurix new power overvalued end 2000 enron wrote end third quarter 2001 knew reckless failing know information available new york university law school professor marcel kahan specializes securities law said class action lawsuits usually lawyer initiated lawyers calling shareholders rather shareholders calling nothing wrong said kahan waited clients move first would virtually suits copyright 2000 dow jones self reporting misconduct upon discovery remediation including dismissal punishment responsible improvement preventative internal policies procedures compensation hurt misconduct wide open cooperation sec investigators pass tests sec said benefits could range taking enforcement action bringing reduced charges lighter sanctions mitigating language documents related enforcement actions mean gone go soft securities violations financial fraud pitt said speech thursday securities lawyers new york pitt commission handle enron case light guidelines pitt statements say lot sec future course lawyers said going test whether commission look carefully make sure four steps really met langevoort said part enron ousted chief financial officer instrumental setting two outside partnerships involved unusual transactions probed company oct 31 appointed special committee investigate affair committee hired high profile law firm wilmer cutler pickering accounting firm deloitte touche assist probe thursday enron fired two executives restated financial results back 1997 company outset continue cooperate fully sec also proceed review transactions said enron spokesman mark palmer much remains seen langevoort said enron action seems set efforts goes much direction satisfying sec guidelines self policing seen key lawyers pointed oct 23 guidelines cooperation issued response case involving kansas food shipping group seaboard corp much smaller company much smaller matter moreover securities lawyers said first four tests self policing prior discovery misconduct may difficult hurdle enron surmount serious case sec guidelines provide answer said richard phillips partner law firm kirkpatrick lockhart san francisco self policing prior discovery means consistent vigilance company finances securities lawyers said found difficult imagine enron senior executives dark four years unusual transactions cover respect public companies really headed trash bin cover anything said stanley sporkin partner weil gotshal manges washington former u district court judge top sec official copyright 2000 dow jones company inc rights reserved usa dynegy close complete deal buy enron wsj 11 09 2001 reuters english news service c reuters limited 2001 houston nov 9 reuters dynegy inc close finalizing deal buy beleaguered energy marketing trading giant enron corp 7 billion stock wall street journal reported online edition friday deal likely announced later friday calls dynegy offer 0 27 shares enron share journal said citing people familiar matter deal also include immediate injection 1 5 billion enron chevrontexaco corp holds 26 5 percent stake dynegy similar injection 1 billion deal closes journal said copyright 2000 dow jones company inc rights reserved bandwidth market survive without independent enron michael rieke erwin seba dow jones newswires 11 09 2001 dow jones energy service copyright c 2001 dow jones company inc houston dow jones telecommunications bandwidth market survive without independent enron corp ene biggest promoter say bandwidth market shrink disappear without enron others say fundamental advantages risk management enable market survive two industry analysts see significant reduction bandwidth trading enron merges dynegy inc dyn even ceases exist think bandwidth trading business went poof said susan kalla senior telecommunications analyst friedman billings michael rieke dowjones com erwin seba 713 547 9214 erwin seba dowjones com copyright 2000 dow jones company inc rights reserved india enron dabhol suffers legal setback indian row 11 09 2001 reuters english news service c reuters limited 2001 bombay nov 9 reuters u energy major enron corp indian unit dabhol power company dpc friday said court stopped pulling beleaguered 2 9 billion power project december 3 bombay high court friday heard petition dabhol clutch indian lenders project prevented company issuing final notice terminate contract maharashtra state electricity board dabhol official told reuters court order blow enron owns 65 percent dabhol general electric co bechtel corp 10 percent board holding remaining 15 percent u energy giant attempts exit project either selling stake terminating contract become urgent face financial troubles home houston based company plagued investor doubts gun shore crumbling finances first phase enron controversial indian project completed work second phase abruptly stopped june following bitter dispute enron local utility plant sole buyer cash strapped indian utility 1995 contracted buy power dabhol 2 0184 mw plant western coast india country largest foreign direct investment later said need power costly dabhol said would prefer resolve dispute board amicably felt discussions power plant indian lenders government progressing case may forced terminate contract file damages international court arbitration london bombay high court said hear case december 3 case dabhol filed indian lenders led country largest term lender industrial development bank india want salvage loans power project fear enron unable sell stake terminates contract utility could end defaulting loans way dispute dabhol indian utility came head june enron decided would stop work second phase project even though almost complete board defaulted payments dispute hurt india attempts attract foreign investment power sector also cast cloud loans advanced indian banks financial institutions exposure 48 percent total project cost dabhol served preliminary notice may terminate project serve final notice six month cooling period fails produce solution six month deadline ends november 19 analysts said two ways enron pull project wait bombay high court lift stay december 3 hope stake bought one two potential suitors india tata power company ltd bses ltd copyright 2000 dow jones company inc rights reserved dynegy nears deal buy enron 7 billion stock transaction robin sidel 11 09 2001 dow jones business news copyright c 2001 dow jones company inc staff reporter wall street journal dynegy inc close finalizing deal buy beleaguered enron corp 7 billion stock according people familiar matter deal likely announced friday calls houston based dynegy swap nearly 0 27 share share crosstown rival people said based current trading prices new york stock exchange would value enron 9 50 share enron shares traded 8 41 4 p thursday big board meaning dynegy deal amounts 13 premium terms call chevrontexaco corp cvx inject 1 5 billion deal immediately another 1 billion upon closing parties also may inject cash deal although unclear details finalized approved regulators deal would stunning development enron transformed staid natural gas pipeline company highflying power trading giant see share price hefty market valuation plummet matter weeks dynegy one fifth enron size enron stock price traded near 85 beginning year pounded past three weeks falling roughly 80 concerns serious financial problems disclosed shareholders shares enron ene fell 26 cents 8 67 friday morning new york stock exchange dynegy dyn shares climbed 1 90 38 50 enron scrambling days line quick financing prominent outside investor discussions private equity firms power trading companies company desperately needs win back credibility wall street following disclosure securities exchange commission investigating partnerships enron created serve hedge fluctuating market conditions thursday enron reduced previously reported net income dating back 1997 20 mostly due improperly accounting partnerships concerns enron financial condition vexing investors analysts including major credit rating agencies friday moody investors service lowered enron debt rating one level junk bond status said company long term debt ratings remain review downgrade late last month fitch put enron review possible downgrade another standard poor changed enron credit outlook negative stable write robin sidel robin sidel wsj com copyright c 2001 dow jones company inc rights reserved copyright 2000 dow jones company inc rights reserved usa updatel moody cuts enron ratings may cut 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters ratings agency moody investors service friday cut long short term ratings embattled energy trader enron corp warned another cut possible substantial loss investor confidence hurt firm financial flexibility moody cut houston based enron senior unsecured debt ratings baa 3 lowest investment grade baa 2 also cut company commercial paper rating prime prime 2 moody cuts enron long term rating would take junk level making tougher enron issue debt run day day business friday downgrade also adds uncertainty potential merger rival dynegy inc talks acquire enron sources told reuters thursday dynegy board waiting word major credit rating agencies determine whether acquiring enron would result significant downgrade debt dynegy asked expedited review moody standard poor merger would affect ratings seeking calm fears faces credit crunch enron late october said drawn committed lines credit provide 1 billion cash liquidity despite move enron faces significant debt maturities near term well potential increased margin requirements counterparties wholesale trading operation moody said company may able retain investment grade characteristics moody said enron stock credit ratings plunged since disclosures balance sheet deals investigation u securities exchange commission possible conflict interest deals contributed 1 billion third quarter charge 1 2 billion reduction shareholder equity thursday enron restated financial statements since 1997 trimming earnings 1997 2000 591 million 22 percent increasing debt 628 million 6 percent p last week cut enron corporate credit rating bbb two notches junk bbb plus warned may cut ratings enron shares traded friday new york stock exchange 34 cents 8 75 copyright 2000 dow jones company inc rights reserved enron long term ratings cut baa 3 baa 2 moody 11 09 2001 afx news c 2001 afp extel news ltd new york afx moody investors service said downgraded senior unsecured debt ratings enron corp baa 3 baa 2 enron long term debt ratings remain review downgrade moody said rating actions reflect enron reduced financial flexibility result substantial loss investor confidence enron drew bank credit facilities order shore near term liquidity faces significant debt maturities near term well potential increased margin requirements counterparties wholesale trading operation addition uncertainty surrounding firm contingent obligations creates increased risk debtholders said statement moody said enron well established wholesale trading franchise regulated pipeline businesses solid operating attributes generate good cash flow however rating agency concludes company may able retain investment grade characteristics moody review focus enron ability improve liquidity capital position rating agency would view substantial near term injection equity capital stabilizing event lj cmr information contact afx www afxnews com www afxpress com copyright 2000 dow jones company inc rights reserved enron dynergy close deal cnbc 11 09 2001 afx news c 2001 afp extel news ltd new york afx chevrontexaco corp affiliate dynegy inc enron corp close reaching deal dynegy buy enron cnbc television reported two companies close reaching deal could make announcement soon said cnbc david faber yesterday companies confirmed talks possible tie said would refrain making statements definitive agreement reached according reports dynegy offered 7 8 bln usd enron vog lj information contact afx www afxnews com www afxpress com copyright 2000 dow jones provided however members news media may redistribute limited portions less 250 words material without specific license cnn long provide conspicuous attribution cnn originator copyright holder material legal transcript purposes litigation copyright 2000 dow jones company inc rights reserved usa enron shares slip debt downgrade concerns 11 09 2001 reuters english news service c reuters limited 2001 new york nov 9 reuters shares enron corp declined early trade friday concerns possible takeover energy trading giant rival dynegy inc would result significant downgrade debt enron shares 20 cents 8 21 instinet electronic brokerage trades dynegy two companies thursday confirmed discussing possible business combination yet reached agreement deal said sources involve stock swap worth 8 billion 10 share 1 5 billion capital infusion major dynegy stakeholder chevrontexaco corp talks two companies continuing late thursday although specific terms stock swap determined sources said dynegy board waiting word major credit rating agencies determine whether acquisition would result significant downgrade enron debt dynegy board comfortable situation negotiate specific terms sources said enron stock credit ratings plunged balance sheet deals investigation u securities exchange commission possible conflict interest disclosed mid october deals contributed 1 billion third quarter charge 1 2 billion reduction shareholder equity earned ire wall street clamoring explanation ever since enron thursday restated financial statements since 1997 reduced earnings 591 million 22 percent four years ending 2000 increased company debt 628 million 6 percent copyright 2000 dow jones company inc rights reserved moody diaz enron credit downgrade outlook comment 2001 11 09 12 49 new york moody diaz enron credit downgrade outlook comment new york nov 9 bloomberg john diaz managing director moody investors service covers enron comments company downgrade enron corp long short term debt ratings possibility dynegy inc may buy moody lowered enron short term credit rating prime p 3 lowest investment grade level also downgraded 1 energy trader long term debt rating one notch baa 3 lowest investment grade rating baa 2 short term ratings junk long term downgrade reflects weak liquidity position company access commercial paper market company outlook ability remain investment grade enron enough liquidity last several months long counter parties continue trade line credit negotiating banks closed enron needs shore confidence company counter parties continue trade said goes away becomes precarious situation something pretty clear market awhile possible dynegy purchase enron enron provide moody pro forma balance sheet company reach agreement dynegy bearing downgrade deal formally announced would putting cart horse deal happens dynegy real potential stabilizing situation absent equity liquidity infusion enron company could downgraded junk status enron needs liquidity shore operations liquidity last several months long counter parties continue trade bank deal signed deal dynegy could end capital structures would improved time would look liquidity structure dynegy credit ratings people talk dynegy look baa 2 rating belongs dynegy holdings look parent dynegy inc assets holdings level holding company structure parent dynegy inc rated one notch lower bond holders dynegy holdings level ahead dynegy inc commerzbank analyst meade possible buyout enron comment 2001 11 09 13 46 new york new york nov 9 bloomberg andre meade energy analyst commerzbank securities comments possible takeover enron corp largest energy trader smaller rival dynegy inc meade shares dynegy enron dynegy essentially betting company ability clean messes enron seamlessly integrate enron people trading business without losing traders volumes margins enron makes restatement earnings yesterday clear enron number things inflating earnings balance sheet transactions convinced restatements come calls question earnings power enron business even though enron price low historical standards dynegy making big bet risky bet difficult make work possible effect enron bankruptcy market since enron largest trader power gas traders receivables enron owe enron money would flurry activity figuring owes get paid would impact short term markets continue function would less churn transactions traders see big problem big unknown sure traders would happy see enron continue kent income fund mitchell stapley enron bonds comment 2001 11 09 14 25 new york new york nov 9 bloomberg mitchell stapley manages 3 5 billion fixed income assets fifth third investment advisors inc comments dynegy inc possible purchase enron corp stapley kent income fund holds enron bonds combination would make dynegy largest energy trader owner second biggest u natural gas pipeline system bondholders needed stabilize situation deal one rare outcomes troubled situation like bondholders come better shape equity holders yesterday enron shares fallen 90 percent year enron 6 4 percent notes due 2006 rose around 76 cents dollar midmorning trading 69 cents earlier really quality market enron bonds stapley said flying dark price direction flying dark toward higher prices seems flexibility inevitable write offs dynegy begins delve enron finances still risks dynegy adds uncertainty balance sheet retain enron talent deep pockets looks like money go enron harris investment coxe possible buyout enron comment 2001 11 09 14 58 new york new york nov 9 bloomberg donald coxe chairman chief strategist harris investment management comments dynegy inc possible bid rival enron corp coxe manages 78 000 enron shares part harris insight equity fund dynegy shares make 5 percent fund assets people energy stocks breathe sigh relief look whole energy sector much greater degree confidence going winter enron trading operation provided substantial liquidity energy markets prolonged period extremely cold weather liquidity chaos combination would turn dynegy biggest energy trader owner second longest u natural gas pipeline system california consumer group raised antitrust concerns bailout merger verbiage matters case like reason enron would capitulate like would gone otherwise dynegy go shareholders paid 80 enron say get money back got indicate alternative would catastrophic country u attorney general john ashcroft tight situation justice department compromised microsoft dealing big donor enron chief executive kenneth lay president bush campaign hometown houston crowd could well political fight strong american utilities fund vuchetich dynegy comment 2001 11 09 12 13 new york new york nov 9 bloomberg kathleen vuchetich analyst w h reaves co helps manage 1 3 billion strong american utilities fund comments dynegy inc possible purchase enron corp dynegy shares make 5 percent fund assets combination would make dynegy world top energy trader owner second longest u natural gas pipeline system stretching 40 000 miles wonderful deal dynegy acquisitions chief executive officer chuck watson typically puts conditions protect dynegy unforeseen undisclosed problems look distressed assets companies illinova dynegy bought illinova corp illinois utility owner february 2000 3 9 billion stock debt disciplined keep sort immediately take best businesses acquired purchasing enron make hum sing enron three wonderful businesses overshadowed recent concern others energy trading energy management pipelines breaking news 11 03 est friday dynegy bid enron said possible bail deal monica perin houston business journal dynegy bid acquire struggling energy giant enron corp may actually bail deal dynegy industry experts say dynegy may exposed enron enron goes dynegy could go according one industry insider wall street may look purchase enron self bail dynegy due exposure enron industry liquidity concerns analysts mark easterbrook neal dingmann rbc dain rauscher securities firm concur market report enron thursday outright bid enron dynegy would opinion received well wall street two analysts say equity infusion cash one many sources rather outright sale enron would preferable maintain infusion strategy makes little sense dynegy part owner chevron one thing dynegy balance sheet would sufficient take enron without deep pockets chevron reported offering 1 5 billion cash enron another billion deal closes believe ken lay enron chairman ceo approached dynegy chevron already tried everybody else facing prospect selling enron piecemeal says jean rollins managing partner c three market consulting research firm enron shopped pieces market says enron already talked royal dutch shell general electric several big foreign energy companies apparently without success rollins notes however also rumored enron may seeking white knight save takeover shell order secure deal dynegy rollins believes enron may disclosed dynegy financial information made public meanwhile enron trading partners nervously reviewing exposure watching developments kansas city based utilicorp announced today buying back 20 percent trading subsidiary aquila spun initial public offering last spring part reason sources say aquila trying acquire assets enron last couple weeks get credit needed energy trading power producing companies shut equity markets since enron meltdown began energy trading companies measuring exposure enron vague disclosing risk say easterbrook dingmann industry watchers say merger enron dynegy would catch intense anti trust scrutiny ftc justice department others disagree physical assets overlap would market limitations trading operations maintains john sodergreen editor publisher scudder online energy trade publications one insider believes lay intention selling enron may back wall still position dictate terms dynegy company exposed position source sees enron surviving chevron holding big chunk well bigger piece dynegy chevron could real winner pundit theorizes dynegy may acquire enron 22 bln stock debt update 6 2001 11 09 13 56 new york dynegy may acquire enron 22 bln stock debt update 6 updating prices adding harrison 9 th paragraph new york nov 9 bloomberg dynegy inc may pay much 22 billion shares assumed debt acquire enron corp whose shares collapsed securities exchange commission probe accounting irregularities limited biggest energy trader ability finance operations houston based dynegy moved closer taking enron larger rival valued 69 billion moody investors service maintained investment grade rating enron today moody lowered enron credit rating baa 3 one level junk status moody announcement removed threat junk rating would create cash crunch forcing enron repay early 3 3 billion bonds allows suitor like dynegy come formally make bid said ubs warburg analyst james yannello rates dynegy strong buy owns shares dynegy chief executive officer charles watson proposal values enron 9 86 per share current price 8 97 dynegy offering 0 27 shares 913 million enron shares outstanding convertible bonds exercised said people familiar situation based yesterday closing price transaction would worth 9 billion stock dynegy would also assume 13 billion debt wonderful acquisition dynegy said kathleen vuchetich helps manage 1 3 billion strong american utilities fund take best businesses enron make hum sing said vuchetich 5 percent fund invested dynegy shares chevrontexaco corp owns 27 percent dynegy contribute 1 5 billion cash transaction lobbying effort enron limited access funds well probe sec began last month accounting limited partnerships drove shares 90 percent year yesterday enron restated earnings past four half years reducing profit 500 million dynegy began talks week ago put negotiations hold moody deliberated dynegy concerned downgrade junk level would trigger cash crunch requiring enron repay early 3 3 billion bonds wall street executives including lehman brothers holding inc chief executive officer richard fuld j p morgan chase co ceo william harrison called moody encourage rating company keep enron credit rating investment grade according people familiar situation received calls officials leading capital markets firms wanted share opinion us said frances laserson vice president corporate communications moody corp controversial subject heard great number people lehman advising dynegy j p morgan along citigroup inc unit salomon smith barney advising enron stood lose millions fees deal collapsed according average commissions calculated dealogic firms could reap 28 million fees moody announcement would view near term injection equity capital stabilizing event prompted bankers reopen talks shares shot 69 cents 9 10 talks resumed enron 6 4 percent bonds mature 2006 jumped 76 cents dollar 69 cents report said traders need equity infusion agreement dynegy maintain investment grade said andy palmer helps manage 2 billion fixed income asb capital management inc washington lose customers keep investment grade lower rating moody cut rating enron finances deteriorated said john diaz managing director follows company moody downgrade reflects weak liquidity position company access commercial paper market enron needs shore confidence company counter parties continue trade said goes away becomes precarious situation something pretty clear market awhile energy trader last week long term credit rating cut bbb second lowest investment grade bbb standard poor short term debt rating cut 3 lowest investment grade 2 p said cuts possible enron short term debt rating cut junk level prime p 3 lowest investment grade rating investors said dynegy face challenge incorporating enron business dynegy move fast going keep enron traders enron trading customers said roger hamilton money manager john hancock advisers inc sold enron shares recent weeks would make far way biggest energy trading operation dramatic rescue would help approval process might difficult circumstances said hamilton dynegy shares gained 2 79 39 47 enron advised j p morgan chase co salomon smith barney inc dynegy advised lehman brothers holdings inc transcanada pipelines ceo dynegy enron talks comment 2001 11 09 13 33 new york calgary nov 9 bloomberg transcanada pipelines ltd chief executive officer hal kvisle comments possible sale enron corp houston rival dynegy inc transcanada decision sell natural gas trading business calgary based transcanada canada biggest gas trader agreed last month sell trading units bp plc mirant corp enron canada second biggest gas trader concerns sale would reduce competition gas trading north america six eight major gas traders highly competitive margins gas trading become slim extraordinarily difficult manage administer monitoring risks ensuring things going wrong one tough business stay top frankly glad think acquisition enron player would bring much market concentration one party hands think many players gas marketing trading arena capable growing businesses making sure competition decision sell gas trading units one reasons decided exit trading sector barriers entry go back 15 years ago transcanada 100 percent share gas exported alberta volume went california market opened enron one earliest enter certainly many others entered time