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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.

TODAY'S FREE FLY STORIES

KMX

CarMax

$75.87

-0.01 (-0.01%)

20:25
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20:25
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AINC

Ashford

$75.95

-11.75 (-13.40%)

20:23
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Ashford 270K share Secondary priced at $74.50 »

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ANAB

AnaptysBio

$94.68

-7.25 (-7.11%)

20:21
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  • 26

    Sep

SF

Stifel Financial

$53.96

-0.08 (-0.15%)

20:01
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Stifel Financial and Everbright Sun Hung Kai establish strategic partnership »

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  • 25

    Sep

I

Intelsat

$27.08

4.365 (19.22%)

19:59
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Intelsat and Azercosmos announce successful satellite launch »

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SKY

Skyline

$30.88

0.66 (2.18%)

19:49
09/25/18
09/25
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Hot Stocks
Breaking Hot Stocks news story on Skyline »

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  • 26

    Sep

KBH

KB Home

$25.29

-0.24 (-0.94%)

, AIR

AAR Corp.

$46.03

1.04 (2.31%)

19:28
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09/25
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Hot Stocks
Fly Intel: After Hours Movers »

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KBH

KB Home

$25.29

-0.24 (-0.94%)

AIR

AAR Corp.

$46.03

1.04 (2.31%)

VSTM

Verastem

$7.15

-1.74 (-19.57%)

CGIX

Cancer Genetics

$1.22

-0.01 (-0.81%)

VNDA

Vanda Pharmaceuticals

$20.70

0.3 (1.47%)

NLSN

Nielsen

$27.21

0.055 (0.20%)

CYH

Community Health

$3.41

-0.08 (-2.29%)

AUPH

Aurinia Pharmaceuticals

$5.89

0.02 (0.34%)

GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

ABBV

AbbVie

$93.78

0.34 (0.36%)

NKE

Nike

$84.79

0.52 (0.62%)

CTAS

Cintas

$212.99

1.81 (0.86%)

LULU

Lululemon

$158.42

1.04 (0.66%)

CONE

CyrusOne

$64.65

-0.6 (-0.92%)

03/08/13
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  • 26

    Sep

CBS

CBS

$56.54

-0.07 (-0.12%)

19:19
09/25/18
09/25
19:19
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19:19
Hot Stocks
CBS names Richard Parsons interim chairman »

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  • 27

    Sep

ZUMZ

Zumiez

$27.00

-0.55 (-2.00%)

19:09
09/25/18
09/25
19:09
09/25/18
19:09
Initiation
Zumiez initiated  »

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ROST

Ross Stores

$97.54

0.26 (0.27%)

, TJX

TJX

$110.33

0.605 (0.55%)

19:03
09/25/18
09/25
19:03
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19:03
Initiation
Ross Stores, TJX initiated  »

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ROST

Ross Stores

$97.54

0.26 (0.27%)

TJX

TJX

$110.33

0.605 (0.55%)

03/08/13
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  • 25

    Sep

MNOV

MediciNova

$11.68

-0.17 (-1.43%)

19:01
09/25/18
09/25
19:01
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Hot Stocks
MediciNova announces 'positive' FDA feedback on Phase 3 plan for MN-166 »

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PVH

PVH Corp.

$140.00

-0.56 (-0.40%)

18:58
09/25/18
09/25
18:58
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18:58
Initiation
PVH Corp. initiated  »

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  • 02

    Oct

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GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

18:50
09/25/18
09/25
18:50
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18:50
Initiation
Canada Goose initiated  »

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PM

Philip Morris

$79.91

-0.55 (-0.68%)

18:47
09/25/18
09/25
18:47
09/25/18
18:47
Periodicals
Philip Morris hits streets to sell older smokers on new devices, Bloomberg says »

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  • 27

    Sep

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URBN

Urban Outfitters

$40.06

-0.32 (-0.79%)

18:45
09/25/18
09/25
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18:45
Initiation
Urban Outfitters initiated  »

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  • 26

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SVMK

SurveyMonkey

$0.00

(0.00%)

18:35
09/25/18
09/25
18:35
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18:35
Syndicate
SurveyMonkey 15M share IPO priced at $12.00 »

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  • 26

    Sep

LULU

Lululemon

$158.42

1.04 (0.66%)

18:34
09/25/18
09/25
18:34
09/25/18
18:34
Initiation
Lululemon initiated  »

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ROL

Rollins

$62.46

0.74 (1.20%)

, ANDV

Andeavor

$157.60

-1.41 (-0.89%)

18:30
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Hot Stocks
S&P announces changes to S&P 400, 500, 600 indices »

S&P Dow Jones Indices…

ROL

Rollins

$62.46

0.74 (1.20%)

ANDV

Andeavor

$157.60

-1.41 (-0.89%)

INGN

Inogen

$258.49

5.5 (2.17%)

VNDA

Vanda Pharmaceuticals

$20.70

0.3 (1.47%)

MPC

Marathon Petroleum

$85.04

-0.78 (-0.91%)

GTX

Garrett Motion

$0.00

(0.00%)

ACET

Aceto

$2.83

-0.09 (-3.08%)

HON

Honeywell

$165.59

0.12 (0.07%)

03/08/13
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TJX

TJX

$110.33

0.605 (0.55%)

18:27
09/25/18
09/25
18:27
09/25/18
18:27
Initiation
TJX initiated at DA Davidson »

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CYH

Community Health

$3.41

-0.08 (-2.29%)

18:25
09/25/18
09/25
18:25
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18:25
Hot Stocks
Breaking Hot Stocks news story on Community Health »

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AFL

Aflac

$47.69

-0.01 (-0.02%)

18:25
09/25/18
09/25
18:25
09/25/18
18:25
Conference/Events
Aflac to hold financial analysts briefing »

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  • 25

    Sep

TPC

Tutor Perini

$19.55

-0.275 (-1.39%)

18:12
09/25/18
09/25
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18:12
Hot Stocks
Tutor Perini awarded $82M aircraft maintenance contract »

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HLTH

Nobilis Health

$0.95

-0.0494 (-4.94%)

18:01
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Hot Stocks
Nobilis Health names Kenny Klein new CFO »

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  • 27

    Sep

FPAY

FlexShopper

$1.16

-0.69 (-37.30%)

17:57
09/25/18
09/25
17:57
09/25/18
17:57
Syndicate
FlexShopper 10M share Secondary priced at $1.00 »

Credit Suisse acted as…

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FPAY

FlexShopper

$1.16

-0.69 (-37.30%)

17:55
09/25/18
09/25
17:55
09/25/18
17:55
Syndicate
FlexShopper 10M unit Secondary priced at $1.00 »

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