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PCG

PG&E

$44.80

-0.44 (-0.97%)

, EIX

Edison International

$69.24

-0.62 (-0.89%)

15:56
08/20/18
08/20
15:56
08/20/18
15:56

California plan could let PG&E issue bonds to cover fire damages, Bloomberg says

California Senator Bill Dodd said details are still being worked out but the state is working on a plan that could let PG&E (PCG) issue bonds to cover potential damages from wildfires in the state, according to Bloomberg. A comprehensive wildfire bill is being evaluated now and lawmakers are seeking to complete it before the legislative session ends Aug. 31, the report added. Edison International (EIX) is another California utility operator. Reference Link

PCG

PG&E

$44.80

-0.44 (-0.97%)

EIX

Edison International

$69.24

-0.62 (-0.89%)

  • 25

    Sep

PCG PG&E
$44.80

-0.44 (-0.97%)

08/20/18
EVER
08/20/18
NO CHANGE
EVER
In Line
Passage of constructive legislation for PG&E seems uncertain, says Evercore ISI
Evercore ISI analyst Greg Gordon said statements from California Senator Bill Dodd indicate the state's lawmakers are abandoning efforts to shield electrical utilities from some financial liability for wildfires. The analyst, who thinks passage of constructive legislation now appears uncertain, keeps an In Line rating on PG&E shares.
08/06/18
08/06/18
UPGRADE
Target $60

Outperform
PG&E upgraded to Outperform on attractive risk/reward at Wells Fargo
As previously reported, Wells Fargo analyst Neil Kalton upgraded PG&E to Outperform from Market Perform, based on an eventual legislative fix to California's inverse condemnation law and given that shareholders will not incur anywhere near the "worst case" damages for the 2017 Northern California wildfires. The analyst also raised his price target on the shares to $60 from $48, citing attractive risk/reward.
08/06/18
WELS
08/06/18
UPGRADE
WELS
Outperform
PG&E upgraded to Outperform from Market Perform at Wells Fargo
07/25/18
MSCO
07/25/18
NO CHANGE
MSCO
Overweight
Governor Brown's proposal positive for California utilities, says Morgan Stanley
After California Governor Jerry Brown proposed legislation covering the treatment of utilities with respect to liability for wildfire damages, Morgan Stanley analyst Stephen Byrd said that overall he views the proposal as constructive to California utilities PG&E (PCG) and Edison International (EIX). While the proposed penalty provisions screen negative, the provision to provide courts with discretion to apportion partial liability for damages from fires is constructive for utilities because it can be a path to avoid a binary "all-or-nothing" outcome, said Byrd. He reiterates an Overweight rating on PG&E shares.
EIX Edison International
$69.24

-0.62 (-0.89%)

07/10/18
LEHM
07/10/18
INITIATION
Target $73
LEHM
Equal Weight
Edison International initiated with an Equal Weight at Barclays
Barclays analyst Eric Beaumont started Edison International with an Equal Weight rating and $73 price target.
07/09/18
ARGS
07/09/18
NO CHANGE
Target $75
ARGS
Buy
Edison International price target raised to $75 from $71 at Argus
Argus analyst Gary Hovis raised his price target on Edison International to $75 and kept his Buy rating, citing the company's improved forward earnings visibility and financial strength as well as the "well-balanced regulation". The analyst notes that Edison International has "adequate liquidity through its current cash balance, cash from operations and credit facility to meet all anticipated cash requirements through 2019", while also noting that its 14.5-times estimated FY19 earnings multiple puts its valuation at a discount relative to comparable electric utilities with fully regulated operations.
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

PINS

Pinterest

$26.69

0.68 (2.61%)

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KSHB

KushCo Holdings

$0.00

(0.00%)

08:32
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JWN

Nordstrom

$37.09

0.16 (0.43%)

08:24
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NTDOY

Nintendo

$0.00

(0.00%)

, TTWO

Take-Two

$106.76

-0.81 (-0.75%)

08:10
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NTDOY

Nintendo

$0.00

(0.00%)

TTWO

Take-Two

$106.76

-0.81 (-0.75%)

DIS

Disney

$135.04

-0.46 (-0.34%)

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    Nov

TPR

Tapestry

$30.78

-0.56 (-1.79%)

, REGN

Regeneron

$304.81

-4.69 (-1.52%)

08:01
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Regeneron, Tapestry among cheap stocks to ride out trade war, Barron's says »

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TPR

Tapestry

$30.78

-0.56 (-1.79%)

REGN

Regeneron

$304.81

-4.69 (-1.52%)

SCHW

Charles Schwab

$43.21

-0.94 (-2.13%)

BWA

BorgWarner

$36.27

-0.375 (-1.02%)

AMAT

Applied Materials

$42.72

-1.56 (-3.52%)

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MT

ArcelorMittal

$16.37

-0.485 (-2.88%)

, CLF

Cleveland-Cliffs

$10.02

-0.08 (-0.79%)

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MT

ArcelorMittal

$16.37

-0.485 (-2.88%)

CLF

Cleveland-Cliffs

$10.02

-0.08 (-0.79%)

SCHN

Schnitzer Steel

$23.16

0.42 (1.85%)

BRSS

Global Brass and Copper

$43.09

-0.01 (-0.02%)

LXFR

Luxfer

$25.41

-0.44 (-1.70%)

MTRN

Materion

$66.36

0.155 (0.23%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$14.84

-0.01 (-0.07%)

F

Ford

$10.29

-0.1 (-0.96%)

GM

General Motors

$37.00

-0.36 (-0.96%)

HMC

Honda

$25.64

-0.135 (-0.52%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$118.40

-1.44 (-1.20%)

VWAGY

Volkswagen

$0.00

(0.00%)

SHOO

Steven Madden

$31.49

-0.37 (-1.16%)

GIII

G-III Apparel

$31.82

-0.35 (-1.09%)

IIVI

II-VI

$32.66

-1.64 (-4.78%)

LITE

Lumentum

$46.30

-4.15 (-8.23%)

MU

Micron

$36.06

-1.37 (-3.66%)

WDC

Western Digital

$44.62

-0.82 (-1.80%)

COHR

Coherent

$121.28

-5.22 (-4.13%)

LASR

nLight

$21.21

-1.27 (-5.65%)

VECO

Veeco

$12.50

-0.25 (-1.96%)

NPTN

NeoPhotonics

$3.83

-0.7 (-15.45%)

AAPL

Apple

$188.97

-0.93 (-0.49%)

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WMT

Walmart

$100.88

-0.56 (-0.55%)

17:59
05/17/19
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Hot Stocks
Walmart EVP Furner sells 10K shares of common stock »

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XOM

Exxon Mobil

$75.91

-0.44 (-0.58%)

, REPYY

Repsol

$0.00

(0.00%)

17:56
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Periodicals
Exxon Gulf of Mexico sale gets interest from Repsol, Ineos, Bloomberg says »

Exxon Mobil (XOM) has…

XOM

Exxon Mobil

$75.91

-0.44 (-0.58%)

REPYY

Repsol

$0.00

(0.00%)

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  • 22

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IEF

iShares 7-10 Year Treasury Bond ETF

$106.74

0.04 (0.04%)

, SHY

iShares 1-3 Year Treasury Bond

$84.15

0.02 (0.02%)

17:43
05/17/19
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General news
Weekly CFTC Commitment of Traders highlights »

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IEF

iShares 7-10 Year Treasury Bond ETF

$106.74

0.04 (0.04%)

SHY

iShares 1-3 Year Treasury Bond

$84.15

0.02 (0.02%)

SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

SLV

iShares Silver Trust

$13.52

-0.14 (-1.02%)

GLD

SPDR Gold Shares

$120.64

-0.86 (-0.71%)

FXE

Euro Currency Trust

$106.35

-0.13 (-0.12%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

17:39
05/17/19
05/17
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Periodicals
IMF's Lagarde: U.S.-China trade spat may be risk to global economy, Reuters says »

IMF managing director…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$285.98

-1.87 (-0.65%)

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HIG

Hartford Financial

$53.58

-0.02 (-0.04%)

17:34
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05/17
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Syndicate
Breaking Syndicate news story on Hartford Financial »

Hartford Financial files…

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  • 11

    Jun

AFH

Atlas Financial

$0.91

0.0225 (2.53%)

17:33
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Hot Stocks
Atlas Financial receives filing delinquency notice from Nasdaq »

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WES

Western Gas Partners

$30.60

-0.155 (-0.50%)

17:29
05/17/19
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Syndicate
Breaking Syndicate news story on Western Gas Partners »

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BA

Boeing

$354.99

0.5 (0.14%)

17:24
05/17/19
05/17
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Boeing awarded $163.91M Navy contract modification »

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LMT

Lockheed Martin

$338.10

-2.39 (-0.70%)

17:18
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COTY

Coty

$13.50

0.25 (1.89%)

17:14
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Coty exec Pieraccioni acquires 93,100 common shares »

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AMR

Alta Mesa Resources

$0.18

-0.0027 (-1.50%)

17:14
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Alta Mesa Resources receives noncompliance notification from Nasdaq »

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NJR

New Jersey Resources

$49.82

-0.03 (-0.06%)

17:06
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New Jersey Resources' Trice sells 12,000 common shares »

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  • 21

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AHC

A.H. Belo

$3.82

-0.075 (-1.93%)

17:03
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A.H. Belo sells former Dallas Morning News campus for $31.6M »

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TLRA

Telaria

$8.56

0.2 (2.39%)

17:01
05/17/19
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Telaria director Rossman sells 173K shares of common stock »

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  • 28

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HL

Hecla Mining

$1.53

0.015 (0.99%)

16:58
05/17/19
05/17
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16:58
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Breaking Syndicate news story on Hecla Mining »

Hecla Mining files to…

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INNT

Innovate Biopharmaceuticals

$1.59

-0.095 (-5.65%)

16:57
05/17/19
05/17
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16:57
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Breaking Syndicate news story on Innovate Biopharmaceuticals »

Innovate files to sell…

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  • 20

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JONE

Jones Energy

$0.00

(0.00%)

16:56
05/17/19
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16:56
Hot Stocks
Jones Energy emerges from bankruptcy »

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HPP

Hudson Pacific

$34.33

-0.15 (-0.44%)

16:44
05/17/19
05/17
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Hot Stocks
Hudson Pacific CFO sells ~57K shares of common stock »

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  • 23

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GLYC

GlycoMimetics

$12.42

-0.43 (-3.35%)

16:36
05/17/19
05/17
16:36
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16:36
Syndicate
Breaking Syndicate news story on GlycoMimetics »

GlycoMimetics files $250M…

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