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PCG

PG&E

$22.80

3.67 (19.18%)

, EIX

Edison International

$67.13

4.55 (7.27%)

17:05
04/12/19
04/12
17:05
04/12/19
17:05

Gov. Newsom: CA has 'responsibility' to cover costs from fires, Bloomberg says

California Governor Gavin Newsom called on state lawmakers to find a way to help California's utilities, including PG&E (PCG) and Edison (EIX), cover the costs of devastating wildfires, including an insurance fund utilities could tap into, Bloomberg's Mark Chediak, Romy Varghese, and Michael B. Marois report. "We all have a burden and a responsibility to assume the costs," Newsom said in a news conference. "We are in a very precarious state." Newsom asked for legislation on the matter to be passed by July 12, the authors note. Reference Link

PCG

PG&E

$22.80

3.67 (19.18%)

EIX

Edison International

$67.13

4.55 (7.27%)

  • 25

    Apr

  • 30

    Apr

PCG PG&E
$22.80

3.67 (19.18%)

02/13/19
MZHO
02/13/19
NO CHANGE
Target $15
MZHO
Neutral
PG&E shares should not be driven by possible FERC contract ruling, says Mizuho
Speculation about a possible court ruling on whether the Federal Energy Regulatory Commission has the authority to block the rejection of contracts under the filed rate doctrine principal should not be a driver in the value of PG&E shares, Mizuho analyst Paul Fremont tells investors in a research note titled "50 Ways to Leave Your Lover." The analyst believes the rejection of purchase power agreements contracts would not add anything to the long-term equity value of PG&E when it emerges from bankruptcy. However, potential savings, which would likely be significant, could provide leverage in negotiations with California State politicians and regulators prior to exiting bankruptcy, adds Fremont. He attributes the stock's current value to the market anticipating a ruling by the bankruptcy court in the next month on whether FERC has the authority to interfere with PG&E's right to reject contracts under the filed rate doctrine principal. The analyst keeps a Neutral rating on PG&E with a $15 price target.
02/19/19
SBSH
02/19/19
UPGRADE
Target $31
SBSH
Buy
PG&E upgraded to Buy from Neutral at Citi
Citi analyst Praful Mehta upgraded PG&E to Buy with a $31 price target. Recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action," Mehta tells investors in a research note. The analyst believes legislation could limit PG&E's future wildfire risk and unlock "significant upside" in the shares. While Mehta expects legislative action, he "conservatively" assumes "some liabilities" from 2019 fires. PG&E in premarket trading is up 8%, or $1.20, to $16.68.
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/26/19
ARGS
02/26/19
UPGRADE
ARGS
Hold
PG&E upgraded to Hold from Sell at Argus
EIX Edison International
$67.13

4.55 (7.27%)

03/01/19
BOFA
03/01/19
UPGRADE
BOFA
Neutral
Edison International upgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Edison International to Neutral from Underperform and raised its price target to $65 from $63. Analyst Julien Dumoulin-Smith sees progress by the California legislature to address utilities' current status of "insurer of last resort," potentially allowing a recovery in Edison shares.
03/01/19
03/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Hertz (HTZ) upgraded to Equal Weight from Underweight at Barclays with analyst Brian Johnson saying strength in used car and rental car prices creates a favorable backdrop for Hertz to refinance its corporate debt. 2. L Brands (LB) upgraded to Overweight from Equal Weight at Barclays with analyst Chethan Mallela saying the company's fiscal 2019 guidance should establish an earnings "floor," which creates an "increasingly positive" risk/reward for the shares. 3. Kraft Heinz (KHC) upgraded to Hold from Sell at Societe Generale. 4. Edison International (EIX) upgraded to Neutral from Underperform at BofA/Merrill with analyst Julien Dumoulin-Smith saying he sees progress by the California legislature to address utilities' current status of "insurer of last resort," potentially allowing a recovery in Edison shares. 5. Expedia (EXPE) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's "strong" Q4 results, anticipated 10%-15% adjusted EBITDA growth in 2019, the management's optimism about continued international expansion, and its attractive valuation at 17.9-times his expected forward earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/14/19
MZHO
03/14/19
NO CHANGE
Target $65.5
MZHO
Buy
Edison International price target raised to $65.50 from $57 at Mizuho
Mizuho analyst Paul Fremont raised his price target for Edison International to $65.50 from $57 citing higher group average multiples and keeps a Buy rating on the shares. The Ventura County Fire Department yesterday released its report on the December 4, 2017 Thomas Fire. After ruling out several other potential causes, the fire investigation team concluded that the Thomas Fire occurred when SCE power lines came into contact with each other between two power poles and ignited dry ground vegetation, Fremont tells investors in a research note. The report ruled out other potential causes including, campfire, civilian debris, arson, and third-party equipment, the analyst adds.
03/14/19
MSCO
03/14/19
NO CHANGE
Target $81
MSCO
Equal Weight
Morgan Stanley says Edison may be able to recover costs for Thomas Fire
After the California Dept. of Forestry and Fire Protection and the Ventura County Fire Department determined that and Edison International power line was the cause of the 2017 Thomas Fire, Morgan Stanley analyst Stephen Byrd noted that subsidiary Southern California Edison disputed the Cal Fire report. Byrd said he does not see any evidence in the report indicative of negligence or other violations and he believes it is possible Edison may be able to recover these costs. He keeps an Equal Weight rating and $81 price target on Edison International shares.

TODAY'S FREE FLY STORIES

TSLA

Tesla

$258.70

-5.15 (-1.95%)

, MXWL

Maxwell

$4.28

-0.095 (-2.17%)

18:31
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18:31
Hot Stocks
Tesla says 50% of deliveries occurred in last 10 days of quarter »

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MXWL

Maxwell

$4.28

-0.095 (-2.17%)

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OMAB

OMA Airports

$48.34

-0.25 (-0.51%)

18:18
04/24/19
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18:18
Earnings
OMA Airports reports Q1 EPS 67c, two estimates 73c »

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HMC

Honda

$27.70

-0.8 (-2.81%)

18:07
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Honda to recall roughly 94,000 cars in U.S. over faulty timing belts »

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NTDOY

Nintendo

$0.00

(0.00%)

18:05
04/24/19
04/24
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18:05
Hot Stocks
Nintendo says 'Super Mario Maker 2' coming to Switch June 28 »

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ARGO

Argo Group

$74.46

0.515 (0.70%)

18:04
04/24/19
04/24
18:04
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18:04
Hot Stocks
Argo Group says Voce making 'false and misleading' statements about company »

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  • 11

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SJW

SJW Corp.

$61.56

0.3 (0.49%)

18:03
04/24/19
04/24
18:03
04/24/19
18:03
Earnings
SJW Corp. reports Q1 EPS 21c with items, consensus 14c »

Reports Q1 revenue 77.7M$…

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CE

Celanese

$110.96

-1.19 (-1.06%)

18:02
04/24/19
04/24
18:02
04/24/19
18:02
Hot Stocks
Celanese announces acetyl intermediates price increases »

Celanese Corporation will…

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  • 30

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ISTR

Investar Holding

$22.45

-0.09 (-0.40%)

18:02
04/24/19
04/24
18:02
04/24/19
18:02
Earnings
Investar Holding reports Q1 EPS 46c, consensus 45c »

Reports Q1 revenue…

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  • 22

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

18:00
04/24/19
04/24
18:00
04/24/19
18:00
Earnings
Microsoft sees total Q4 revenue at implied $32.2B-$32.9B, consensus $32.63B »

By segment, sees Q4…

03/08/13
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    Aug

ISBC

Investors Bancorp

$12.27

0.07 (0.57%)

17:52
04/24/19
04/24
17:52
04/24/19
17:52
Earnings
Investors Bancorp reports Q1 EPS 18c, consensus 20c »

Reports Q1 revenue…

03/08/13
Wedge Partners
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FB

Facebook

$182.64

-1.13 (-0.61%)

17:51
04/24/19
04/24
17:51
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17:51
Hot Stocks
Facebook CEO says 'quite focused on' commerce and payments »

Says "quite focused…

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:42
04/24/19
04/24
17:42
04/24/19
17:42
Hot Stocks
Facebook says encrypted communications to be big focus in next couple of years »

Says shift to encrypted…

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CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:42
04/24/19
04/24
17:42
04/24/19
17:42
Earnings
Core Laboratories sees Q2 EPS 47c-50c, consensus 49c »

Sees Q2 revenue…

03/08/13
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  • 25

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  • 01

    May

CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:41
04/24/19
04/24
17:41
04/24/19
17:41
Earnings
Core Laboratories reports Q1 adjusted EPS 44c, consensus 43c »

Reports Q1 revenue…

03/08/13
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03/06/13
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03/06/13
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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

17:41
04/24/19
04/24
17:41
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17:41
Hot Stocks
Microsoft CEO says LinkedIn saw 'record level of engagement' in Q3 »

Says LinkedIn marketing…

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:40
04/24/19
04/24
17:40
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17:40
Hot Stocks
Tesla CEO Musk says large number of vehicle deliveries shifted into Q2 »

Says: Expects 1M robo…

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  • 24

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:33
04/24/19
04/24
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17:33
Hot Stocks
Facebook sees changes making mobile ad targeting more difficult »

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  • 24

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  • 03

    Jun

PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:32
04/24/19
04/24
17:32
04/24/19
17:32
Earnings
Breaking Earnings news story on Packaging Corp. »

Packaging Corp sees Q2…

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Hot Stocks
Breaking Hot Stocks news story on Packaging Corp. »

Packaging Corp reports Q1…

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Earnings
Tesla expects to significantly reduce loss in Q2, return to profitability in Q3 »

Tesla CEO Elon Musk said,…

03/08/13
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03/08/13
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  • 24

    Apr

FOLD

Amicus

$13.15

-0.12 (-0.90%)

17:30
04/24/19
04/24
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04/24/19
17:30
Syndicate
Breaking Syndicate news story on Amicus »

Amicus files automatic…

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Hot Stocks
Facebook says number of ad impressions served across all services rose 32% in Q1 »

Comments taken from Q1…

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Packaging Corp. reports Q1 adjusted EPS $1.98, consensus $1.96 »

Reports Q1 revenue…

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Tesla sees 2019 capital expenditures of $2.0B-$2.5B »

Tesla CEO Elon Musk said,…

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  • 24

    Apr

MEOH

Methanex

$57.37

-1.63 (-2.76%)

17:28
04/24/19
04/24
17:28
04/24/19
17:28
Earnings
Methanex reports Q1 adjusted EPS 73c, consensus 88c »

Reports Q1 revenue $733M,…

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