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PCG

PG&E

$56.72

0.77 (1.38%)

13:38
11/10/17
11/10
13:38
11/10/17
13:38

PG&E says a third party's wires may have caused Tubbs fire, SF Chronicle reports

Pacific Gas and Electric has said that the Tubbs wildfire in California, which destroyed neighborhoods of Santa Rosa, may have been caused by electrical equipment it did not own or install, the San Francisco Chronicle reports, citing a legal filing. The company, which is facing several wildfire-related lawsuits said while fire investigators are still investigating the fire, "preliminary investigations suggest that this fire might have been caused by electrical equipment that was owned, installed and maintained by a third party." A spokesman from the California Department of Forestry and Fire Protection, which is determining whether PG&E's power lines played a role in the Oct. 8 fires, told the Chronicle he did not know the source of PG&E's information. PG&E was up 1.4% to $56.72 in afternoon trading. Reference Link

PCG PG&E
$56.72

0.77 (1.38%)

10/16/17
MSCO
10/16/17
NO CHANGE
MSCO
Overweight
PG&E shares may have overreacted to California fire risk, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd believes PG&E shares have likely overreacted to the potential damages from the California wildfires, noting that the stock reflects about $5.6B in fire-related damage but that is greater than is likely to be incurred by its shareholders. However, he also believes fire-related liability worries will continue to be a significant overhang on the stock as it will take many months for an investigation to be completed and that probe has not yet begun. Byrd maintains an Overweight rating on PG&E shares.
10/16/17
WELS
10/16/17
NO CHANGE
Target $67
WELS
Outperform
PG&E price target lowered to $67 from $79 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $67 from $79 to reflect substantial uncertainty related to potential liabilities from the ongoing Northern California wildfires. While it remains unclear whether PG&E's infrastructure in any way caused some of the fires, the analyst believes it is prudent for investors to assess a meaningful probability to causality. He reiterates an Outperform rating on the shares.
10/16/17
GSCO
10/16/17
DOWNGRADE
GSCO
Buy
PG&E downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Michael Lapides removed PG&E from the Conviction Buy List and lowered its price target to $65 from $72 given the potential impact on cash flow from the California wildfires and say shares lack catalysts. The analyst maintains a Buy rating viewing the selloff in shares since the wildfires as overdone.
10/16/17
JPMS
10/16/17
NO CHANGE
Target $66
JPMS
Overweight
PG&E shares still worth $60 in 'extreme liability scenario,' says JPMorgan
JPMorgan analyst Christopher Turnure says shares of PG&E are worth $60 in an "extreme liability scenario." The analyst assigns a 75% chance of the company being found liable for the Northern California wildfires "despite having essentially no information at this time on the cause." He estimates $12B of potential gross liability in an extreme case. To reflect this probability weighted scenario funded entirely by incremental equity over a three-year period through 2020, Turnure lowered his price target for PG&E shares to $66 from $76. The analyst reiterates an Overweight rating on the shares, but admits the wildfires will a "major overhang" for at least the better part of 2018.

TODAY'S FREE FLY STORIES

GES

Guess

$17.95

0.17 (0.96%)

07:53
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UIS

Unisys

$7.55

0.25 (3.42%)

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QADA

QAD Inc.

$39.95

1.75 (4.58%)

07:51
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QAD Inc. analyst commentary  »

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CYTK

Cytokinetics

$8.25

-2.85 (-25.68%)

07:48
11/22/17
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07:48
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Cytokinetics rating change  »

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CRM

Salesforce

$108.80

1.43 (1.33%)

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U.S. MBA mortgage market index rose 0.1% »

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CYTK

Cytokinetics

$8.25

-2.85 (-25.68%)

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DE

Deere

$139.23

2.31 (1.69%)

07:43
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Technical Analysis
Technical View: Deere at new 52-week high after results beat expectations »

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CRM

Salesforce

$108.80

1.43 (1.33%)

07:42
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  • 27

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General news
Treasury Market Outlook: longer dated bond yields are modestly higher »

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AXTA

Axalta Coating

$33.87

0.33 (0.98%)

07:39
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Technical View: Axalta Coating up on Nippon Paint takeover talks »

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CRM

Salesforce

$108.80

1.44 (1.34%)

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OSUR

OraSure

$16.55

2.59 (18.55%)

07:36
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OraSure analyst commentary  »

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GME

GameStop

$16.73

0.29 (1.76%)

07:35
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Technical Analysis
Technical View: GameStop trades higher after earnings and outlook »

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NUAN

Nuance

$14.67

0.15 (1.03%)

07:35
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Recommendations
Nuance analyst commentary  »

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  • 28

    Nov

AAPL

Apple

$173.14

3.16 (1.86%)

, BAC

Bank of America

$26.73

-0.01 (-0.04%)

07:35
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Options
Unusual call flow in option market yesterday »

Notable call activity was…

AAPL

Apple

$173.14

3.16 (1.86%)

BAC

Bank of America

$26.73

-0.01 (-0.04%)

MU

Micron

$49.40

1.76 (3.69%)

T

AT&T

$34.33

-0.31 (-0.89%)

ORCL

Oracle

$48.63

-0.39 (-0.80%)

AKS

AK Steel

$4.85

0.22 (4.75%)

PG

Procter & Gamble

$88.72

0.45 (0.51%)

TRIP

TripAdvisor

$32.81

2.33 (7.64%)

PEP

PepsiCo

$116.05

1.14 (0.99%)

PAGP

Plains GP Holdings

$20.48

-0.41 (-1.96%)

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EKSO

Ekso Bionics

$4.13

1.21 (41.44%)

07:33
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Technical Analysis
Technical View: Ekso Bionics trades sharply higher, edging 52-week high »

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NTNX

Nutanix

$30.20

0.5 (1.68%)

07:32
11/22/17
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Initiation
Nutanix initiated  »

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HPE

HP Enterprise

$14.12

0.03 (0.21%)

07:32
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GE

General Electric

$17.83

-0.15 (-0.83%)

, DKS

Dick's Sporting

$28.58

-0.52 (-1.79%)

07:30
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Options
Unusual put flow in option market yesterday »

Notable put activity was…

GE

General Electric

$17.83

-0.15 (-0.83%)

DKS

Dick's Sporting

$28.58

-0.52 (-1.79%)

ROST

Ross Stores

$72.67

-0.07 (-0.10%)

ILG

ILG

$28.11

-0.5 (-1.75%)

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  • 29

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DLTR

Dollar Tree

$99.46

2.35 (2.42%)

07:29
11/22/17
11/22
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07:29
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07:28
11/22/17
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07:28
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07:28
General news
Futures above fair value ahead of holiday »

Stock futures are…

SHOO

Steven Madden

$39.80

-0.6 (-1.49%)

07:28
11/22/17
11/22
07:28
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07:28
Conference/Events
Steven Madden management to meet with Buckingham »

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  • 28

    Nov

BURL

Burlington Stores

$104.94

-1.61 (-1.51%)

07:25
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RLH

Red Lion Hotels

$8.55

0.1 (1.18%)

07:24
11/22/17
11/22
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07:24
Conference/Events
Red Lion Hotels management to meet with Craig Hallum »

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