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PCG

PG&E

$17.02

-0.73 (-4.11%)

10:50
01/11/19
01/11
10:50
01/11/19
10:50

Far downside put ratio spreads in PG&E March contracts

Far downside put ratio spreads in PG&E March contracts. Shares off 40c to $17.36 and 4.2K Mar 6 - 10, 2X1, put spreads trade 40c. The spread trades 5K x 10K total. Separately, 2.4K Mar 8 - 16, 2X1, put spreads trade $1.40, then another 2.4K for $1.50. It trades a total of 5K x 10K as well. If opening, these positions target a move to the lower (6 and 8) strikes and are probably stock hedges for fear of further losses in shares, which were roiled earlier this week on talk of possible bankruptcy of the utility company.

PCG PG&E
$17.02

-0.73 (-4.11%)

01/04/19
GSCO
01/04/19
UPGRADE
Target $63
GSCO
Buy
Edison International upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Michael Lapides upgraded Edison International to Buy while lowering his price target for the shares to $63 from $71. The analyst upgrades the shares after their 15% underperformance versus peers since the 2018 wildfires. He also is more positive on longer term potential PG&E (PCG) risk/reward following its 48% underperformance. Both utilities now price in a "very bearish outcome" of the wildfires, says Lapides. He believes that recent commentary from state officials regarding keeping utility balance sheets healthy implies a potential cost sharing of recent wildfire related liabilities.
01/02/19
MSCO
01/02/19
NO CHANGE
Target $31
MSCO
Equal Weight
Recent developements for PG&E mixed, not entirely negative, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd noted that PG&E shares underperformed large cap U.S. electric utility peers by about 5% in December. He does not view the numerous recent developments involving PG&E as entirely negative, as the stock move would suggest, but rather sees them as "mixed," with some positives, Byrd tells investors. He sees the CPUC Order Instituting Rulemaking regarding the "stress test" as a positive development and also believes the CPUC Scoping Memo released on December 21 is a development with both positive and negative implications for PG&E, Byrd said. There were also several legal developments in December that were a mix of negative and positive, the analyst added. On the negative side, Byrd lists the CPUC SED report into alleged PG&E falsification of records relating to PG&E's Damage Prevention Program. He maintains an Equal Weight rating on PG&E shares with a $31 price target.
12/10/18
WELS
12/10/18
NO CHANGE
Target $47
WELS
Outperform
PG&E price target lowered to $47 from $60 at Wells Fargo
Wells Fargo analyst Neil Kalton lowered his price target for PG&E to $47 from $60 to take into account potential wildfire liabilities. The analyst reiterates an Outperform rating on the shares.
11/19/18
MSCO
11/19/18
NO CHANGE
Target $31
MSCO
Equal Weight
PG&E break-up could be constructive to valuation, but risky, says Morgan Stanley
After California Public Utilities Commission President Michael Picker said the Commission would explore potentially breaking up PG&E, Morgan Stanley analyst Stephen Byrd said he believes a break-up could be constructive to the stock's valuation, but he also sees significant risks to such an approach, identifying the key risk as the regulator, and potentially lawmakers, seeking greater asset coverage for wildfire-related damages beyond the value of the electric utility. He also notes the risk that damages from the Camp Fire could increase from current estimates, given potential liabilities for wrongful death and for air quality damages. Byrd maintains an Equal Weight rating and $31 price target on PG&E shares.

TODAY'S FREE FLY STORIES

C

Citi

$62.10

-0.08 (-0.13%)

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LION

Fidelity Southern

$28.41

-0.16 (-0.56%)

12:48
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Earnings
Fidelity Southern reports Q4 EPS 36c, consensus 33c »

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BMY

Bristol-Myers

$49.50

0.37 (0.75%)

12:45
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Options
Bristol Myers Squibb call volume above normal and directionally bullish »

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General news
Treasury's $13 B 10-year TIPS preview: the auction may suffer »

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FOSL

Fossil

$17.50

0.09 (0.52%)

, GOOG

Alphabet

$1,080.85

0.63 (0.06%)

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Breaking Hot Stocks news story on Fossil, Alphabet, Alphabet Class A »

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FOSL

Fossil

$17.50

0.09 (0.52%)

GOOG

Alphabet

$1,080.85

0.63 (0.06%)

GOOGL

Alphabet Class A

$1,090.00

1.17 (0.11%)

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RTN

Raytheon

$161.77

2.4 (1.51%)

12:32
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Raytheon awarded $434M contract modification for SPY-6 AIM-9X tactical missiles »

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GOOG

Alphabet

$1,079.92

-0.3 (-0.03%)

, FOSL

Fossil

$17.50

0.09 (0.52%)

12:31
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Hot Stocks
Fossil to sell select smartwatch technology to Google for $40M »

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GOOG

Alphabet

$1,079.92

-0.3 (-0.03%)

FOSL

Fossil

$17.50

0.09 (0.52%)

GOOGL

Alphabet Class A

$1,089.70

0.87 (0.08%)

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JPM

JPMorgan

$102.54

0.06 (0.06%)

12:30
01/17/19
01/17
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Options
Call butterfly in JP Morgan is similar to one in Wells Fargo »

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  • 26

    Feb

PHG

Philips

$35.40

(0.00%)

12:29
01/17/19
01/17
12:29
01/17/19
12:29
Periodicals
Philips to shutter U.K. factory as Brexit concerns intensify, Bloomberg says »

Royal Philips intends to…

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LMFA

LM Funding

$2.19

0.765 (53.87%)

12:27
01/17/19
01/17
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Hot Stocks
LM Funding spikes 53% after completing IIU acquisition, sees accretion in 2019 »

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NWSA

News Corp.

$12.42

0.03 (0.24%)

12:25
01/17/19
01/17
12:25
01/17/19
12:25
Upgrade
News Corp. rating change  »

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FDC

First Data

$22.17

0.9 (4.23%)

12:25
01/17/19
01/17
12:25
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12:25
Options
First Data call volume above normal and directionally bullish »

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  • 03

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BLK

BlackRock

$410.20

-2.65 (-0.64%)

12:25
01/17/19
01/17
12:25
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Periodicals
BlackRock CEO calls on business leaders to tackle social issues, FT says »

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MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

, AAPL

Apple

$154.13

-0.75 (-0.48%)

12:22
01/17/19
01/17
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On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks opened in negative…

MS

Morgan Stanley

$42.66

-1.82 (-4.09%)

AAPL

Apple

$154.13

-0.75 (-0.48%)

JNJ

Johnson & Johnson

$128.65

0.65 (0.51%)

SHLD

Sears

$0.00

(0.00%)

SBNY

Signature Bank

$120.40

7.98 (7.10%)

MTB

M&T Bank

$161.77

7.32 (4.74%)

SIG

Signet Jewelers

$25.63

-7.745 (-23.21%)

WDC

Western Digital

$35.97

-1.83 (-4.84%)

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LPCN

Lipocine

$2.24

0.65 (40.88%)

12:17
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01/17
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Recommendations
Lipocine analyst commentary  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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Technical Analysis
NASDAQ market internals summary »

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LMB

Limbach Holding

$5.00

(0.00%)

12:16
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Limbach awarded contracts totaling $81.4M for hospital construction »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
01/17/19
01/17
12:16
01/17/19
12:16
Technical Analysis
NYSE market internals summary »

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LPCN

Lipocine

$2.27

0.68 (42.77%)

12:12
01/17/19
01/17
12:12
01/17/19
12:12
Periodicals
Lipocine NASH data contain plenty of 'red flags,' STAT's Feuerstein writes »

This morning's…

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CVE

Cenovus Energy

$7.79

-0.19 (-2.38%)

12:10
01/17/19
01/17
12:10
01/17/19
12:10
Options
Second day of call buying in Cenovus Energy continues as shares slump »

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SQ

Square

$68.79

2.9 (4.40%)

12:04
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Square launches free debit card for business, with sellers access to funds »

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ALBO

Albireo Pharma

$24.54

0.08 (0.33%)

12:03
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Hot Stocks
Albireo Pharma treatment of biliary atresia granted FDA orphan status »

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GPOR

Gulfport Energy

$8.67

-0.23 (-2.58%)

12:02
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Hot Stocks
Gulfport Energy confirms receipt of Firefly letter »

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UNFI

United Natural Foods

$13.09

-2.32 (-15.06%)

12:00
01/17/19
01/17
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Hot Stocks
United Natural Foods falls -15.1% »

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ESTE

Earthstone Energy

$5.28

-1.49 (-22.01%)

12:00
01/17/19
01/17
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12:00
Hot Stocks
Earthstone Energy falls -21.9% »

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