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PCG

PG&E

$22.90

-9.8 (-29.97%)

12:30
11/14/18
11/14
12:30
11/14/18
12:30

Technical Take: PG&E bounces off lows

The stock hit an intraday low so far at $22.35 and there has been a bounce off those lows in the last 15 minutes. At the current price of $24.45, next resistance is at $25.22. Support is at the $23.70 area.

PCG PG&E
$22.90

-9.8 (-29.97%)

11/14/18
SBSH
11/14/18
NO CHANGE
Target $48
SBSH
Neutral
PG&E could face $15B or more in damages from wildfires, says Citi
PG&E last night in a regulatory filing said it has drawn its entire $3.3B credit revolver, Citi analyst Praful Mehta tells investors in a research note. The analyst thinks the primary driver of the draw could be concern around a downgrade to a non-investment grade credit rating and the liquidity requirements as a result of such an action. Given the level of structural damages and the loss of 48 lives in the California wildfires, PG&E's damage could be $15B or higher, Mehta contends. The analyst believes PG&E's incident report from November 8 increases the probability that the company's equipment were a potential cause of the fire. Mehta has a Neutral rating on PG&E with a $48 price target. The stock in early trading is down 13%, or $4.28, to $28.44.
11/14/18
WOLF
11/14/18
NO CHANGE
Target $40
WOLF
Peer Perform
PG&E price target lowered to $40 from $50 at Wolfe Research
11/13/18
EDJN
11/13/18
DOWNGRADE
EDJN
Sell
PG&E downgraded to Sell from Hold at Edward Jones
Edward Jones analyst Andrew Smith downgraded PG&E to Sell from Hold.
11/12/18
MSCO
11/12/18
NO CHANGE
MSCO
Morgan Stanley estimates $2B-$4B in insured losses from Camp Fire
Morgan Stanley analysts Kai Pan and Stephen Byrd estimate $2B-$4B in insured losses from the Camp Fire, adding that total economic losses will be higher but insurance penetration is very high as fire losses are covered under standard homeowners polices. Given the incident report issued by PG&E (PCG) and other reports, the focus currently appears to be on PG&E equipment, the analysts added. In a bearish case, damage from the Camp Fire spreads and PG&E shareholders are fully liable for all damages, fully liable for 2017 wildfires, and there is a permanent 30% discount to peers, in which case Pan and Byrd believe PG&E stock would be valued at $37 per share. In a "moderate" case, they assign a 75% probability of full shareholder liability for Camp Fire damages, damages grow by 25% from the current level, and the stock trades at a permanent 15% discount to peers, in which case they believe PG&E would be valued at $59 per share. Pan and Byrd believe PG&E shares now reflect $17B for 2017-18 fires plus a permanent 25% discount to peers. In terms of Edison International (EIX), the analyst sees $5B for 2017-18 fires plus a permanent 20% discount to peers being reflected in the stock. In the bearish case, they see Edison being valued at $57 per share and in the moderate case they see it valued at $70 per share.

TODAY'S FREE FLY STORIES

MELI

MercadoLibre

$338.18

-23.4 (-6.47%)

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Options
MercadoLibre put volume heavy and directionally bearish »

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Treasury's $16 B 30-year reopening was ok, but nothing special »

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FB

Facebook

$143.95

-0.31 (-0.21%)

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Facebook says Guardian did not utilize all information on fact-checking program »

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13:06
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General news
30-Yr Bond Auction Coupon Rate data reported »

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30-Yr Bond Auction Total Amount data reported »

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FX Action: USD-CAD »

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AEGN

Aegion

$17.61

-0.43 (-2.38%)

13:01
12/13/18
12/13
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Hot Stocks
Aegion names Kenneth Young as controller »

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ABBV

AbbVie

$87.49

-1.13 (-1.28%)

13:00
12/13/18
12/13
13:00
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AbbVie announces $5B boost to stock repurchase program »

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HIIQ

Health Insurance Innovations

$29.08

-0.985 (-3.28%)

12:59
12/13/18
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12:59
12/13/18
12:59
Hot Stocks
Health Insurance Innovations boosts repurchase program to $100M from $50M »

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  • 13

    Dec

HIIQ

Health Insurance Innovations

$29.08

-0.985 (-3.28%)

12:57
12/13/18
12/13
12:57
12/13/18
12:57
Hot Stocks
Health Insurance Innovations announces multistate settlement for $3.4M »

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  • 13

    Dec

IP

International Paper

$43.38

-0.79 (-1.79%)

12:55
12/13/18
12/13
12:55
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12:55
Options
International Paper put volume heavy and directionally bearish »

Bearish flow noted in…

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TSLA

Tesla

$373.22

6.46 (1.76%)

12:51
12/13/18
12/13
12:51
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12:51
Periodicals
Tesla plans to ship 3,000 Model 3's per week to Europe, Electrek says »

Tesla is planning to send…

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  • 13

    Dec

AJG

Arthur J. Gallagher

$75.09

-0.39 (-0.52%)

12:49
12/13/18
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12/13/18
12:49
Hot Stocks
Arthur J. Gallagher announces new financial, retirement services practice »

Financial wellbeing is…

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CLVS

Clovis

$21.54

0.75 (3.61%)

12:47
12/13/18
12/13
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12:47
Hot Stocks
Clovis says CHMP grants positive opinion for new indicatin of Rubraca tablets »

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HIIQ

Health Insurance Innovations

$28.44

-1.625 (-5.41%)

12:44
12/13/18
12/13
12:44
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12:44
Hot Stocks
Breaking Hot Stocks news story on Health Insurance Innovations »

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  • 13

    Dec

RTIX

RTI Surgical

$4.37

0.11 (2.58%)

12:39
12/13/18
12/13
12:39
12/13/18
12:39
Hot Stocks
RTI Surgical CFO Jonathon Singer buys 50,000 shares of company stock »

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GOOGL

Alphabet Class A

$1,068.50

-5.16 (-0.48%)

, GOOG

Alphabet

$1,057.90

-5.66 (-0.53%)

12:39
12/13/18
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12:39
Hot Stocks
YouTube says removed 7.8M videos, 224M comments from July-Sept 2018 »

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GOOGL

Alphabet Class A

$1,068.50

-5.16 (-0.48%)

GOOG

Alphabet

$1,057.90

-5.66 (-0.53%)

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  • 03

    Mar

AMZN

Amazon.com

$1,646.55

-16.85 (-1.01%)

12:38
12/13/18
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Periodicals
Instacart ending relationship between Amazon's Whole Foods, Recode reports »

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  • 19

    Dec

  • 20

    Dec

IIPR

Innovative Industrial Properties

$52.33

1.77 (3.50%)

, KSHB

KushCo Holdings

$0.00

(0.00%)

12:36
12/13/18
12/13
12:36
12/13/18
12:36
On The Fly
Rising High: Talking with Innovative Industrial Properties CFO, KushCo CEO »

In this edition of…

IIPR

Innovative Industrial Properties

$52.33

1.77 (3.50%)

KSHB

KushCo Holdings

$0.00

(0.00%)

ACB

Aurora Cannabis

$5.70

-0.41 (-6.71%)

APHA

Aphria

$5.34

-0.46 (-7.93%)

CVSI

CV Sciences

$0.00

(0.00%)

CNTTF

CannTrust Holdings

$0.00

(0.00%)

CGC

Canopy Growth

$30.89

-1.12 (-3.50%)

CRON

Cronos Group

$11.31

-0.6 (-5.04%)

CANN

General Cannabis

$0.00

(0.00%)

IGC

India Globalization Capital

$0.00

(0.00%)

TLRY

Tilray

$75.78

-8.78 (-10.38%)

KNHBF

ICC International Cannabis

$0.00

(0.00%)

MMNFF

MedMen

$0.00

(0.00%)

ORTFD

Biome Grow

$0.00

(0.00%)

MLCPF

MediPharm Labs

$0.00

(0.00%)

NDVAF

INDIVA

$0.00

(0.00%)

OGRMF

Organigram

$0.00

(0.00%)

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TM

Toyota

$120.74

-1.19 (-0.98%)

12:35
12/13/18
12/13
12:35
12/13/18
12:35
Hot Stocks
Toyota to recall roughly 133,700 vehicles in two separate recalls »

Toyota announced that it…

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BRY

Berry Petroleum

$10.16

-0.51 (-4.78%)

12:35
12/13/18
12/13
12:35
12/13/18
12:35
Hot Stocks
Berry Petroleum announces $100M share repurchase program »

Berry Petroleum announced…

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12:35
12/13/18
12/13
12:35
12/13/18
12:35
General news
Treasury 30-year auction preview: the offering should be ok »

Treasury 30-year auction…

HAS

Hasbro

$84.57

-0.26 (-0.31%)

12:30
12/13/18
12/13
12:30
12/13/18
12:30
Options
July 95 strike call buyer in Hasbro tied to hedge »

July 95 strike call buyer…

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12:25
12/13/18
12/13
12:25
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12:25
Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call »

Alternative Energy…

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