Harbinger Capital decreased its stake to 57,639,402 shares (13%), after selling 3,000,000 on Oct. 14 at $11.40 each. The firm also disclosed that its holdings were reduced by an additional 6,340,645 shares. Those shares have been rehypothecated in conjunction with the bankruptcy proceedings of Lehman Brothers International Europe. (Rehypothecated shares are those in clients' margin accounts that a brokerage firm pledges as collateral for a loan.)

Harbinger Capital decreased its stake to 66,980,047 shares (15.1%), by selling 20 million on Sept. 28 at $11.40 a share in a secondary offering.

energy

Adami said he still likes Borgwarner (BWA), while Finerman said she likes Dynegy (DYN) and finds Calpine (CPN) interesting. "I think natural gas is where you want to be," she said.

I’m staying with nat gas [UNG] names, adds Karen Finerman. You could look at Calpine [CPN] but you should know it’s very levered.

A group including SPO Advisory boosted its holdings in the energy provider to 80,047,061 shares (18.9%) from the 75,384,261 (17.8%) disclosed on Oct. 6.

Fund Manager Plugs Into General Cable, Calpine: The world needs more electricity than ever, and Kent Croft, portfolio manager for the Croft Value Fund, says General Cable, ABB, Quanta and Calpine are among the best ways to play the power surge.

Click here to watch the video.

NRG Energy proposed a stock merger with Calpine. Harbinger Capital told the Calpine board that the offer represents a good starting point and that the board should put the search for a management team on hold and immediately engage with NRG. Harbinger thinks the timing of the offer is excellent -- as it's four months after Calpine's exit from bankruptcy and the company still lacks a permanent management team. The combined company would have a fully focused management team and a well-articulated strategy in place.

Q: Do you hold Calpine bank debt?

A: Yes. On the bank-loan side, we are focusing much more on companies where we are at the top of the capital structure. Calpine and TXU Energy, the Texas utility taken private last year, are interesting loans.

The way they essentially stole from the shareholders who invested w/ them during their bankruptcy & reorginization. millions of shareholders investments were lost by their "offering" to let shareholders cash-buy "options" in the mid-$20's with zero compensation for shares/real money lost by those who supported them thru the re-org. How the New York Bankruptcy Judge allowed this (or missed it) during the final weeks prior to Capline leaving protection is very questionable.

lost too much money

I Lost money

dead beats

I lost a lot of money