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PCG

PG&E

$21.86

-0.54 (-2.41%)

, EIX

Edison International

$67.03

0.2225 (0.33%)

15:22
07/05/19
07/05
15:22
07/05/19
15:22

Newsom leaves 'wiggle room' on bill helping PG&E, Edison, CALmatters says

California Governor Gavin Newsom, according to CALmatters, said today, "The bond-rating agencies have marked the 12th and 13th as important days. But if we make a tremendous amount of progress in the next two weeks and it bleeds over for a few days, I imagine that will be considered." The comment leaves "wiggle room" for lawmakers to fail to meet a July 12 deadline the Governor set for approving legislation intended to help PG&E and Edison International (EIX), CALmatters explains. S&P Global Ratings has indicated it might downgrade the utilities to junk absent state action around that date, according to Bloomberg. Reference Link

PCG

PG&E

$21.86

-0.54 (-2.41%)

EIX

Edison International

$67.03

0.2225 (0.33%)

  • 25

    Jul

PCG PG&E
$21.86

-0.54 (-2.41%)

07/01/19
MZHO
07/01/19
NO CHANGE
MZHO
Buy
Mizuho views changes to California bill as 'constructive' for state utilities
Early Friday morning the California Senate released their changes to AB 1054 which addresses the wildfire risk for each of the state's utilities, Mizuho analyst Paul Fremont tells investors in a research note. The analyst views the changes as "constructive" for the California utilities. Utilities will fund $7.5B of the $18B Wildfire Mitigation fund, and will be able to get recovery, but not a return on, $5B worth of wildfire mitigation capital expenditures, the analyst points out. Further, until PG&E (PCG) emerges from bankruptcy, which is expected in March 2020, the Wildfire Mitigation Fund will only pay out 40% of allowed claims, adds Fremont. He keeps a Buy rating on Edison International (EIX) and Neutral rating on PG&E.
06/28/19
WOLF
06/28/19
DOWNGRADE
WOLF
Peer Perform
PG&E downgraded to Peer Perform from Outperform at Wolfe Research
06/21/19
MSCO
06/21/19
NO CHANGE
MSCO
Equal Weight
California proposal only a 'partial fix' for PG&E, says Morgan Stanley
After Bloomberg reported yesterday that California Governor Gavin Newsom is encouraging the state's legislature to adopt several of the Wildfire Commission's recommendations, including a liquidity fund seeded by at least $10B in Department of Water Resources bonds and $7.5B in utility equity contributions, Morgan Stanley analyst Stephen Byrd said he thinks the plan outlined in the report is only a "partial fix" and would not be satisfactory for large institutional equity investors, for whom some type of cap on future liability is critical. The analyst, who thinks long-term investors will likely require more steps than those outlined in the Bloomberg report before buying PG&E shares, keeps an Equal Weight rating on the stock.
06/20/19
BOFA
06/20/19
UPGRADE
Target $13
BOFA
Neutral
Bloom Energy upgraded to Neutral from Underperform at BofA/Merrill
BofA Merrill Lynch analyst Julien Dumoulin-Smith upgraded Bloom Energy (BE) to Neutral from Underperform as he sees shares being supported by shifting trends in its core California markets amid proactive deenergizations by PG&E (PCG) as well as more broadly across the U.S. East Coast. Following a call with Generac (GNRC) that pointed to a meaningful inflection in California customers' demand for stand-by generators, the analyst expects increased demand for Bloom's micro-grid solution, he said. He also thinks the increased focus and need for reliability with the 5G build-out for major telecom companies will support demand for Bloom products, the analyst added. He has a $13 price target on Bloom Energy shares.
EIX Edison International
$67.03

0.2225 (0.33%)

06/10/19
MZHO
06/10/19
NO CHANGE
Target $75
MZHO
Buy
Edison International price target raised to $75 from $72 at Mizuho
Mizuho analyst Paul Fremont raised his price target for Edison International to $75 from $72 after "substantially increasing" his 2019-20 earnings estimates to reflect the company's earnings guidance presentation. He keeps a Buy rating on the shares.
06/06/19
SBSH
06/06/19
NO CHANGE
SBSH
Buy
Citi found CA Assembly Utilities Committee hearing positive for PG&E
Citi analyst Praful Mehta found increased acknowledgement by a number of members that wildfire costs do need to be socialized across a number of group at yesterday's California Assembly Utilities Committee hearing. This acknowledgement, rather than a singular focus on holding the utility accountable, is a "step towards a constructive solution," Mehta tells investors in a research note. He continues to believe legislation will be passed this session and that it will "follow the path of least resistance." Mehta views the hearing as positive and remains constructive on shares of PG&E (PCG) and Edison International (EIX). He keeps a Buy rating on PG&E with a $33 price target.
06/04/19
UBSW
06/04/19
UPGRADE
Target $72
UBSW
Buy
Edison International upgraded to Buy from Neutral at UBS
UBS analyst Daniel Ford upgraded Edison International to Buy from Neutral and raised his price target for the shares to $72 from $67. The analyst sees improving regulatory and legislative visibility in California with progress toward wildfire legislation for 2019 and changes at the California Public Utilities Commission. While failure to pass wildfire legislation in 2019 could provide downside, shares of Edison are pricing in $7B of new equity and a 10% discount for strict liability to buffer this risk, Ford tells investors in a research note.

TODAY'S FREE FLY STORIES

CFRX

ContraFect

$0.47

-0.0187 (-3.83%)

14:12
07/16/19
07/16
14:12
07/16/19
14:12
Conference/Events
ContraFect management to meet with Jefferies »

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14:10
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14:10
General news
More from Kaplan: he thinks the funds rate will stabilize after just one rate cut »

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ATEC

Alphatec

$4.38

-0.06 (-1.35%)

14:09
07/16/19
07/16
14:09
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14:09
Syndicate
Breaking Syndicate news story on Alphatec »

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SPOT

Spotify

$154.15

-0.13 (-0.08%)

, AAPL

Apple

$203.82

-1.36 (-0.66%)

14:08
07/16/19
07/16
14:08
07/16/19
14:08
Hot Stocks
Spotify slides after Apple said to plan original, exclusive podcasts »

Spotify (SPOT) shares are…

SPOT

Spotify

$154.15

-0.13 (-0.08%)

AAPL

Apple

$203.82

-1.36 (-0.66%)

03/08/13
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MCD

McDonald's

$213.70

-0.48 (-0.22%)

, UBER

Uber

$44.37

-0.14 (-0.31%)

14:04
07/16/19
07/16
14:04
07/16/19
14:04
Hot Stocks
McDonald's adds DoorDash as U.S. delivery partner »

McDonald's USA and…

MCD

McDonald's

$213.70

-0.48 (-0.22%)

UBER

Uber

$44.37

-0.14 (-0.31%)

03/08/13
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APRN

Blue Apron

$12.46

4.81 (62.88%)

14:00
07/16/19
07/16
14:00
07/16/19
14:00
Options
Explosive action in BlueApron as partnership with BYND anhiliates shorts »

Explosive action in…

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  • 06

    Aug

AAPL

Apple

$204.13

-1.05 (-0.51%)

, SPOT

Spotify

$154.63

0.35 (0.23%)

13:59
07/16/19
07/16
13:59
07/16/19
13:59
Periodicals
Apple to fund original podcasts in challenge to Spotify, Bloomberg says »

Apple (AAPL) plans to…

AAPL

Apple

$204.13

-1.05 (-0.51%)

SPOT

Spotify

$154.63

0.35 (0.23%)

03/08/13
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  • 30

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TSLA

Tesla

$252.11

-1.3 (-0.51%)

13:55
07/16/19
07/16
13:55
07/16/19
13:55
Hot Stocks
Tesla CEO Musk says cost of FSD option will increase 'every few months' »

Tesla CEO Elon Musk said…

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  • 24

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CARS

Cars.com

$20.95

-0.56 (-2.60%)

13:55
07/16/19
07/16
13:55
07/16/19
13:55
Options
Cars.com put volume heavy and directionally bearish »

Bearish flow noted in…

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BAC

Bank of America

$28.93

-0.29 (-0.99%)

, ABT

Abbott

$83.27

-0.53 (-0.63%)

13:50
07/16/19
07/16
13:50
07/16/19
13:50
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BAC

Bank of America

$28.93

-0.29 (-0.99%)

ABT

Abbott

$83.27

-0.53 (-0.63%)

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

PNC

PNC Financial

$138.85

-1.33 (-0.95%)

PGR

Progressive

$84.25

0.245 (0.29%)

BK

BNY Mellon

$43.20

0.05 (0.12%)

OMC

Omnicom

$84.47

0.46 (0.55%)

TXT

Textron

$54.17

0.74 (1.39%)

CMA

Comerica

$71.70

0.34 (0.48%)

03/08/13
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    Jul

  • 06

    Aug

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    Aug

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    Aug

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    Aug

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    Sep

  • 16

    Oct

CSX

CSX

$79.79

1.27 (1.62%)

, CTAS

Cintas

$243.78

0.47 (0.19%)

13:49
07/16/19
07/16
13:49
07/16/19
13:49
Earnings
Notable companies reporting after market close »

Notable companies…

CSX

CSX

$79.79

1.27 (1.62%)

CTAS

Cintas

$243.78

0.47 (0.19%)

UAL

United Continental

$94.36

3.06 (3.35%)

FNF

Fidelity National

$41.43

-0.12 (-0.29%)

03/08/13
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03/06/13
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03/06/13
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  • 16

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    Aug

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    Nov

GLYC

GlycoMimetics

$12.62

-0.17 (-1.33%)

13:45
07/16/19
07/16
13:45
07/16/19
13:45
Options
GlycoMimetics call volume above normal and directionally bullish »

Bullish option flow…

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  • 23

    Jul

  • 09

    Sep

13:35
07/16/19
07/16
13:35
07/16/19
13:35
General news
Fed funds futures are inching up from earlier lows »

Fed funds futures are…

13:35
07/16/19
07/16
13:35
07/16/19
13:35
General news
Oil Action: WTI crude »

Oil Action: WTI crude has…

FUN

Cedar Fair

$50.85

0.4 (0.79%)

13:25
07/16/19
07/16
13:25
07/16/19
13:25
Conference/Events
Cedar Fair participates in a conference call with Wedbush »

Leisure & Travel…

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  • 16

    Jul

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    Aug

TM

Toyota

$128.80

1.16 (0.91%)

13:20
07/16/19
07/16
13:20
07/16/19
13:20
Hot Stocks
Toyota to consider options after Hogan lawsuit verdict »

Toyota issued a statement…

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HYG

iShares iBoxx $ High Yield Corporate Bond

$86.87

-0.12 (-0.14%)

13:20
07/16/19
07/16
13:20
07/16/19
13:20
Options
Put roll in High Yield Bond ETF re-rolls protective position »

Put roll in High Yield…

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JNJ

Johnson & Johnson

$132.96

-1.71 (-1.27%)

13:17
07/16/19
07/16
13:17
07/16/19
13:17
Hot Stocks
J&J falls after saying generics, biosimilars to have largest impact in Q3 »

During the company's…

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  • 16

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
07/16/19
07/16
13:17
07/16/19
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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EA

Electronic Arts

$88.98

-3.24 (-3.51%)

13:16
07/16/19
07/16
13:16
07/16/19
13:16
Recommendations
Electronic Arts analyst commentary at Stephens »

Electronic Arts weakness…

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  • 19

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
07/16/19
07/16
13:16
07/16/19
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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13:15
07/16/19
07/16
13:15
07/16/19
13:15
General news
Fed Chair Powell reiterated the Fed will "act as appropriate to sustain the expansion," »

Fed Chair Powell…

EA

Electronic Arts

$89.04

-3.18 (-3.45%)

13:14
07/16/19
07/16
13:14
07/16/19
13:14
Hot Stocks
Konami grabs exclusive video game rights to Juventus for 'PES' »

Japanese game developer…

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  • 19

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UBSFY

Ubisoft

$0.00

(0.00%)

13:08
07/16/19
07/16
13:08
07/16/19
13:08
Hot Stocks
Ubisoft says over 100 titles to be available on UPLAY+ at September 3 launch »

Ubisoft said that its…

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  • 19

    Jul

GOOGL

Alphabet Class A

$1,153.08

2.62 (0.23%)

, GOOG

Alphabet

$1,152.90

2.51 (0.22%)

13:06
07/16/19
07/16
13:06
07/16/19
13:06
Periodicals
Trump says he would recommend looking into Google and China, CNBC reports »

President Trump told…

GOOGL

Alphabet Class A

$1,153.08

2.62 (0.23%)

GOOG

Alphabet

$1,152.90

2.51 (0.22%)

03/08/13
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