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PCG

PG&E

$39.39

0.1 (0.25%)

07:58
06/14/18
06/14
07:58
06/14/18
07:58

PG&E settlement potential being overlooked, says Morgan Stanley

Morgan Stanley analyst Stephen Byrd reiterated his previously stated view that it is unlikely PG&E shareholders will realize "anywhere close to 100% of both causation and negligence" for all 21 Northern California wildfires. He believes there is a very wide range of investor expectations for total damages that will be paid relating to the NorCal wildfires, from a low of $6B to as high as $15B. He also thinks investors overlook the potential for settlements of damage claims. Byrd, whose base case assumes a prospective change to inverse condemnation and that the company is only 70% responsible and 25% negligent across the fires, keeps an Overweight rating and $58 price target on PG&E shares.

  • 26

    Jun

PCG PG&E
$39.39

0.1 (0.25%)

06/11/18
DBAB
06/11/18
NO CHANGE
DBAB
Buy
CalFire referring to district attorneys a negative, says Deutsche Bank
On Friday after the close, CalFire announced the results of another 12 investigations into the October 2017 Northern California fires. This brings the total number of completed investigations to 16 since the first four reports were released ahead of Memorial Day weekend, Deutsche Bank analyst Jonathan Arnold tells investors in a research note. The analyst notes that of 12 new reports, PG&E lines were found to have been involved in starting all or most of them. He sees, however, some confusion between the press release and report which may raise some questions as to whether the Nuns Fire might in fact have been started by a customer's lines. CalFire referring eight of the 12 new reports to relevant county district attorney offices was the most negative individual data point in Friday's reports, Arnold contends. On the positive side of the ledger, CalFire did not allege violations for the Redwood Fire or the Nuns Fire, the analyst adds. He keeps a Buy rating on the shares of PG&E.
06/11/18
GUGG
06/11/18
NO CHANGE
Target $35
GUGG
Sell
PG&E allegedly violated law in majority of CA fires thus far, says Guggenheim
Guggenheim analyst Shahriar Pourreza noted that Cal Fire's second report found that PG&E's equipment was responsible for multiple fires in Northern California during the October 2017 wildfires, which means that the utility has been found to allegedly violate state law in eleven of sixteen fires thus far. Given the findings, the analyst questions whether the matter of "inverse condemnation" is even an issue at this point. "All signs seem to point" to PG&E "being imprudent operators in the majority of instances," meaning it should assume liability, said Pourreza. He maintains a Sell rating on PG&E shares, calling for potentially further downside, especially when the Tubbs investigation is released.
06/11/18
MSCO
06/11/18
NO CHANGE
Target $62
MSCO
Overweight
Morgan Stanley says PG&E won't realize 'anywhere close' to all NorCal fire blame
After Cal Fire on Friday issued reports on twelve of the Northern California wildfires in October 2017, Morgan Stanley analyst Stephen Byrd estimated PG&E is likely not liable for about 34% of damages reported on to date, while the report on the largest fire has not yet been issued. Among the three largest fires assessed to date, one had no reported PG&E violations, one had a reported violation, and one has a "complex fact pattern," stated Byrd, who also noted that the largest of the NorCal fires - Tubbs - had an incident report "quite different" from the other incident reports issued by the company. Byrd, who believes it is unlikely PG&E shareholders will realize "anywhere close to 100% of both causation and negligence" for all 21 NorCal wildfires, keeps an Overweight rating on PG&E shares.
06/11/18
WELS
06/11/18
NO CHANGE
WELS
CAL FIRE reports an incrementally negative for PG&E, says Wells Fargo
Wells Fargo analyst Neil Kalton notes that CAL FIRE issued reports on the causes of an additional 12 fires related to the 2017 Northern California wildfires, and determined that PG&E's (PCG) infrastructure was involved in all 12 fires and that there was evidence that the company violated state laws in 8 fires. The analyst views the CAL FIRE reports as an incrementally negative development as it further casts PG&E in a bad light. While he thinks PG&E's shares reflect an overly onerous outcome, Edison International (EIX) remains his preferred play for a California regulatory recovery. Kalton reiterates a Market Perform rating on PG&E shares and an Outperform rating on Edison's stock, while lowering his price target on the former to $46 from $48 and on the latter to $72 from $74.

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GD

General Dynamics

$195.97

0.17 (0.09%)

17:09
06/18/18
06/18
17:09
06/18/18
17:09
Hot Stocks
General Dynamics awarded $225M U.S. Navy contract modification »

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ARQL

ArQule

$5.00

(0.00%)

17:09
06/18/18
06/18
17:09
06/18/18
17:09
Hot Stocks
Breaking Hot Stocks news story on ArQule »

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HRS

Harris

$149.36

0.07 (0.05%)

, MSI

Motorola Solutions

$115.50

0.98 (0.86%)

17:07
06/18/18
06/18
17:07
06/18/18
17:07
Hot Stocks
Harris, Motorola Solutions to compete for $495M contract from U.S. Army »

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HRS

Harris

$149.36

0.07 (0.05%)

MSI

Motorola Solutions

$115.50

0.98 (0.86%)

03/08/13
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  • 18

    Jun

CNS

Cohen & Steers

$42.16

0.32 (0.76%)

17:04
06/18/18
06/18
17:04
06/18/18
17:04
Hot Stocks
Cohen & Steers reduces fees for MLP & Energy fund by 0.2pts to 0.8% »

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IIPR

Innovative Industrial Properties

$34.96

-0.78 (-2.18%)

17:03
06/18/18
06/18
17:03
06/18/18
17:03
Syndicate
Breaking Syndicate news story on Innovative Industrial Properties »

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CDTI

CDTi

$0.68

0.016 (2.42%)

17:02
06/18/18
06/18
17:02
06/18/18
17:02
Syndicate
CDTi to commence rights offering to raise approximately $3.4M »

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BSM

Black Stone Minerals

$18.20

0.1 (0.55%)

17:02
06/18/18
06/18
17:02
06/18/18
17:02
Hot Stocks
Black Stone Minerals names Jeff Wood president »

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TROV

Trovagene

$0.83

0.0165 (2.04%)

16:55
06/18/18
06/18
16:55
06/18/18
16:55
Hot Stocks
Breaking Hot Stocks news story on Trovagene »

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EVH

Evolent Health

$23.30

0.05 (0.22%)

16:52
06/18/18
06/18
16:52
06/18/18
16:52
Recommendations
Evolent Health analyst commentary  »

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RYTM

Rhythm Pharmaceuticals

$28.81

-3.8 (-11.65%)

16:50
06/18/18
06/18
16:50
06/18/18
16:50
Syndicate
Breaking Syndicate news story on Rhythm Pharmaceuticals »

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  • 25

    Jun

CC

Chemours

$48.62

-0.84 (-1.70%)

16:47
06/18/18
06/18
16:47
06/18/18
16:47
Hot Stocks
Chemours announces global price increase of up to 15% for all grades of Vazo »

Chemours announced a…

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ACAD

Acadia

$15.82

0.05 (0.32%)

16:45
06/18/18
06/18
16:45
06/18/18
16:45
Hot Stocks
Breaking Hot Stocks news story on Acadia »

Point72 Asset Management…

03/08/13
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  • 25

    Jun

TAX

Liberty Tax

$8.40

-0.4 (-4.55%)

16:40
06/18/18
06/18
16:40
06/18/18
16:40
Hot Stocks
Liberty Tax receives noncompliance letter from Nasdaq »

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CNK

Cinemark

$36.17

0.37 (1.03%)

, AMC

AMC Entertainment

$16.00

0.4 (2.56%)

16:38
06/18/18
06/18
16:38
06/18/18
16:38
Hot Stocks
Cinemark and Cineworld acquire remaining stake in NationalCineMedia for $156.8M »

Cineworld Group and…

CNK

Cinemark

$36.17

0.37 (1.03%)

AMC

AMC Entertainment

$16.00

0.4 (2.56%)

03/08/13
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DLX

Deluxe

$68.36

0.59 (0.87%)

16:38
06/18/18
06/18
16:38
06/18/18
16:38
Earnings
Deluxe backs FY18 adjusted EPS view $5.60-$5.80, consensus $5.71 »

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DLX

Deluxe

$68.36

0.59 (0.87%)

16:37
06/18/18
06/18
16:37
06/18/18
16:37
Earnings
Deluxe backs Q2 adjusted EPS view $1.29-$1.35, consensus $1.31 »

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DLX

Deluxe

$68.36

0.59 (0.87%)

16:36
06/18/18
06/18
16:36
06/18/18
16:36
Hot Stocks
Deluxe enters pact to buy treasury management business »

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OBSV

ObsEva

$17.21

2.68 (18.44%)

16:35
06/18/18
06/18
16:35
06/18/18
16:35
Syndicate
ObsEva files to sell 4.75M shares of common stock »

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  • 18

    Jun

TAX

Liberty Tax

$8.40

-0.4 (-4.55%)

16:35
06/18/18
06/18
16:35
06/18/18
16:35
Hot Stocks
Liberty Tax names Michael Piper CFO »

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SLGL

Sol-Gel Technologies

$8.50

(0.00%)

16:35
06/18/18
06/18
16:35
06/18/18
16:35
Hot Stocks
Sol-Gel Technologies initiates phase 3 program for Papulopustular Rosacea »

Sol-Gel Technologies…

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  • 20

    Jun

OMP

Oasis Midstream Partners

$17.59

0.3 (1.74%)

16:33
06/18/18
06/18
16:33
06/18/18
16:33
Hot Stocks
Oasis Midstream Partners signs multiple 3rd party agreements in Williston Basin »

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  • 18

    Jun

CL

Colgate-Palmolive

$63.30

-1.43 (-2.21%)

16:32
06/18/18
06/18
16:32
06/18/18
16:32
Hot Stocks
Colgate-Palmolive announces $5B share repurchase program »

The Board of Directors…

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R

Ryder

$73.69

0.49 (0.67%)

16:31
06/18/18
06/18
16:31
06/18/18
16:31
Hot Stocks
Ryder acquires Metro Truck & Tractor Leasing, terms not stated »

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CL

Colgate-Palmolive

$63.30

-1.43 (-2.21%)

16:30
06/18/18
06/18
16:30
06/18/18
16:30
Hot Stocks
Breaking Hot Stocks news story on Colgate-Palmolive »

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16:30
06/18/18
06/18
16:30
06/18/18
16:30
Options
Preliminary option volume of 17.3M today »

Preliminary option volume…

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