Dynegy Up After Failed Blackstone Bid

(Dynegy article updated with statement from Seneca Capital)

NEW YORK (TheStreet) -- Dynegy is rising close to 4% in trading on Wednesday, a day after its deal with the Blackstone Group and NRG Energy fell apart. More than half of Dynegy's average daily volume had been traded in the first half hour after the opening bell. Dynegy shares had been up as much as 7% in the morning, but declined for the remainder of the day.

The failed deal leaves Dynegy with a mountain of debt and operating in a power market where pricing remains weak and earnings potential for all companies is deteriorating.

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