Calpine trims the size of loss

Calpine Corp. said its first-quarter net loss narrowed to $214 million as it sold more electricity at higher prices and recorded gains on asset sales.

The loss was equivalent to 44 cents a share and compared with a loss of $459 million, or 96 cents, a year earlier, San Jose-based Calpine said. Sales rose 17% to $1.95 billion.

Shares of Calpine fell 40 cents to $19.70.