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PCG

PG&E

$11.12

-3.18 (-22.24%)

09:52
08/19/19
08/19
09:52
08/19/19
09:52

Citi double downgrades PG&E to Sell after Tubbs fire allowed to go to jury

As previously reported, Citi analyst Praful Mehta double downgraded PG&E, to Sell from Buy, after a U.S. Bankruptcy Court judge in San Francisco allowed PG&E to hold on to sole rights to construct a chapter 11 exit plan but also allowed the Tubbs fire to be tried in jury trial in California state court. The Tubbs fire, which could an incremental $15B in total liabilities for PG&E, is "too big" and a jury trial is "too risky," said Mehta, who slashed his price target on PG&E shares to $4 from $33, stating that the difference in target is due to now incorporating $15B of Tubbs wildfire liabilities in his estimates.

PCG PG&E
$11.12

-3.18 (-22.24%)

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.
06/28/19
WOLF
06/28/19
DOWNGRADE
WOLF
Peer Perform
PG&E downgraded to Peer Perform from Outperform at Wolfe Research
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.
08/19/19
SBSH
08/19/19
DOWNGRADE
SBSH
Sell
PG&E downgraded to Sell from Buy at Citi

TODAY'S FREE FLY STORIES

ABT

Abbott

$84.25

-0.96 (-1.13%)

, ADPT

Adaptive Biotechnologies

$43.28

3.49 (8.77%)

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ABT

Abbott

$84.25

-0.96 (-1.13%)

ADPT

Adaptive Biotechnologies

$43.28

3.49 (8.77%)

BDX

Becton Dickinson

$260.68

-1.41 (-0.54%)

COO

Cooper Companies

$301.95

-3 (-0.98%)

EXAS

Exact Sciences

$106.72

-1.99 (-1.83%)

GH

Guardant Health

$77.54

0.49 (0.64%)

NEO

NeoGenomics

$21.34

-1.22 (-5.41%)

LMNX

Luminex

$22.62

0.1 (0.44%)

HAE

Haemonetics

$125.55

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STAA

STAAR Surgical

$29.21

0.415 (1.44%)

QGEN

Qiagen

$33.97

-0.105 (-0.31%)

NVTA

Invitae

$21.70

-0.2 (-0.91%)

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CRTO

Criteo

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Twitter

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Criteo

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Twitter

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Snap

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Facebook

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T

AT&T

$37.90

-0.46 (-1.20%)

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AT&T stock already benefiting from activist involvement, Barron's says »

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DIS

Disney

$138.00

0.44 (0.32%)

, NFLX

Netflix

$294.00

5.08 (1.76%)

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DIS

Disney

$138.00

0.44 (0.32%)

NFLX

Netflix

$294.00

5.08 (1.76%)

AAPL

Apple

$218.71

-4.4 (-1.97%)

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UAL

United Airlines

$91.37

1.99 (2.23%)

08:58
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United Airlines could get boost after short squeeze, Barron's says »

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BAC

Bank of America

$30.12

0.44 (1.48%)

08:55
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Bank of America stock worth betting on, Barron's says »

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  • 16

    Oct

TPR

Tapestry

$25.16

-0.43 (-1.68%)

08:49
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Coach parent's turnaround could be coming, Barron's says »

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UHAL

Amerco

$379.63

4.21 (1.12%)

08:45
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U-Haul parent stock 'a better-kept secret,' Barron's says »

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CP

Canadian Pacific

$228.59

-1.38 (-0.60%)

, CNI

Canadian National

$92.13

-0.31 (-0.34%)

08:41
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Periodicals
Railroad stocks struggling as challenges increase, Barron's says »

North American railroads…

CP

Canadian Pacific

$228.59

-1.38 (-0.60%)

CNI

Canadian National

$92.13

-0.31 (-0.34%)

UNP

Union Pacific

$171.49

3.81 (2.27%)

CSX

CSX

$72.50

0.96 (1.34%)

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MO

Altria Group

$42.01

-0.77 (-1.80%)

, BTI

British American Tobacco

$36.76

-1.21 (-3.19%)

08:06
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On The Fly
Week in Review: How Trump's policies moved stocks »

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MO

Altria Group

$42.01

-0.77 (-1.80%)

BTI

British American Tobacco

$36.76

-1.21 (-3.19%)

IMBBY

Imperial Brands

$0.00

(0.00%)

PM

Philip Morris

$73.01

-1.89 (-2.52%)

REGI

Renewable Energy

$15.90

0.57 (3.72%)

PSX

Phillips 66

$102.77

0.66 (0.65%)

MPC

Marathon Petroleum

$53.29

0.1 (0.19%)

VLO

Valero

$85.53

1.84 (2.20%)

EVA

Enviva

$31.21

0.06 (0.19%)

AMTX

Aemetis

$1.00

0.14 (16.28%)

PEIX

Pacific Ethanol

$0.78

0.0322 (4.29%)

GPP

Green Plains Partners

$13.18

0.17 (1.31%)

DK

Delek US

$35.91

-0.6 (-1.64%)

HFC

HollyFrontier

$51.41

0.71 (1.40%)

TSO

Tesoro

$0.00

(0.00%)

WNR

Western Refining

$0.00

(0.00%)

T

AT&T

$37.90

-0.46 (-1.20%)

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GLD

SPDR Gold Shares

$140.19

-1.14 (-0.81%)

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SPDR Gold Shares holdings fall to 874.51MT from 880.37MT »

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DBVT

DBV Technologies

$10.22

0.595 (6.18%)

, AIMT

Aimmune

$24.66

(0.00%)

17:57
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Hot Stocks
Breaking Hot Stocks news story on DBV Technologies, Aimmune »

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DBVT

DBV Technologies

$10.22

0.595 (6.18%)

AIMT

Aimmune

$24.66

(0.00%)

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AIMT

Aimmune

$24.66

(0.00%)

17:55
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FDA committee votes to support use of Aimmune's Palforzia for peanut allergy »

Aimmune Therapeutics…

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  • 13

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ZAYO

Zayo Group

$33.82

-0.05 (-0.15%)

17:39
09/13/19
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Zayo Group CEO sells 1M common shares »

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T

AT&T

$37.90

-0.46 (-1.20%)

, MO

Altria Group

$42.01

-0.77 (-1.80%)

17:38
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Periodicals
CNN to longer run Juul ads, Daily Beast reports »

AT&T's (T) CNN…

T

AT&T

$37.90

-0.46 (-1.20%)

MO

Altria Group

$42.01

-0.77 (-1.80%)

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  • 23

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BAS

Basic Energy

$1.87

-0.08 (-4.10%)

17:34
09/13/19
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Hot Stocks
Basic Energy CEO T.M. Patterson to leave company »

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  • 13

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XBIO

Xenetic

$1.61

-0.04 (-2.42%)

17:28
09/13/19
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17:28
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Syndicate
Breaking Syndicate news story on Xenetic »

Xenetic files to sell…

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AAPL

Apple

$218.71

-4.4 (-1.97%)

, DIS

Disney

$138.00

0.44 (0.32%)

17:22
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Hot Stocks
Disney CEO Bob Iger resigns from Apple board of directors »

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AAPL

Apple

$218.71

-4.4 (-1.97%)

DIS

Disney

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0.44 (0.32%)

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  • 24

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PHG

Philips

$47.79

0.19 (0.40%)

17:21
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17:21
Hot Stocks
Philips awarded maximum $400M Defense Logistics Agency contract »

Philips has been awarded…

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NBSE

NeuBase Therapeutics

$5.70

-0.04 (-0.70%)

17:20
09/13/19
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17:20
Syndicate
Breaking Syndicate news story on NeuBase Therapeutics »

NeuBase Therapeutics…

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  • 16

    Sep

KDMN

Kadmon

$2.80

-0.015 (-0.53%)

17:18
09/13/19
09/13
17:18
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17:18
Syndicate
Breaking Syndicate news story on Kadmon »

Kadmon files to sell…

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KDMN

Kadmon

$2.80

-0.015 (-0.53%)

17:18
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17:18
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Breaking Syndicate news story on Kadmon »

Kadmon files $200M mixed…

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RTN

Raytheon

$198.82

1.22 (0.62%)

17:17
09/13/19
09/13
17:17
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17:17
Hot Stocks
Raytheon awarded $427.3M Army procurement contract »

Raytheon was awarded a…

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INPX

Inpixon

$0.14

-0.0001 (-0.07%)

17:16
09/13/19
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17:16
Syndicate
Breaking Syndicate news story on Inpixon »

Inpixon files to sell…

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AUPH

Aurinia Pharmaceuticals

$6.59

0.14 (2.17%)

17:14
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09/13
17:14
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17:14
Syndicate
Aurinia Pharmaceuticals files to sell $40M of common shares at-the-market »

Aurinia Pharmaceuticals…

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