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PCG

PG&E

$8.08

0.3 (3.86%)

16:48
10/13/19
10/13
16:48
10/13/19
16:48

PG&E turns down San Francisco's $2.5B offer to acquire assets, Reuters says

PG&E rejected a $2.5B offer from San Francisco to buy the bankrupt company's power lines and other infrastructure within the city, calling the offer inadequate, Reuters' Shanti Nair reports. The offer significantly undervalued the assets and a deal would not be in the best interest of the company's customers, PG&E's CEO, Bill Johnson, wrote in a letter to San Francisco Mayor London Breed and City Attorney Dennis Herrera. Reference Link

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  • 07

    Jan

PCG PG&E
$8.08

0.3 (3.86%)

10/01/19
LEHM
10/01/19
NO CHANGE
Target $10
LEHM
Equal Weight
PG&E price target lowered to $10 from $14 at Barclays
Barclays analyst Eric Beaumont lowered his price target for PG&E to $10 from $14 after updating his valuation methodology to reflect the recently announced settlements and align more closely with the company's $14B equity rights framework. To reflect "numerous unpredictable and material variables" for the outstanding common equity, the analyst reiterates an Equal Weight rating on PG&E. However, he sees the rights offering as being attractive to current holders, assuming the termination clauses as outlined, and believes the framework "provides a path to how an upside scenario may play out."
10/10/19
MSCO
10/10/19
NO CHANGE
Target $16
MSCO
Equal Weight
PG&E ruling raises uncertainty in bankruptcy process, says Morgan Stanley
Morgan Stanley analyst Stephen Byrd said that Judge Dennis Montali's decision to terminate PG&E's exclusive right to advance a plan of reorganization increases the uncertainty in the bankruptcy process, noting that the competing plan advanced by creditors would leave "very little equity value." The analyst, who believes PG&E's ability to negotiate with the victims groups and build support for its own plan will be a key driver of the stock from here, keeps an Equal Weight rating and $16 price target on the shares.
10/11/19
SBSH
10/11/19
DOWNGRADE
Target $5
SBSH
Sell
PG&E downgraded to Sell from Neutral at Citi
Citi analyst Praful Mehta downgraded PG&E to Sell from Neutral with a price target of $5, down from $12. The stock closed Thursday down 29%, or $3.19, to $7.79. After Judge Montali terminated PG&E's exclusive right to advance a plan of reorganization, Mehta sees a 75% chance of the stock going to zero. PG&E's goal of a tough negotiation stance with the tort claims committee backfired, says the analyst. He believes the company will now likely push for claim estimation given its limited ability to get into bidding war to settle with the TCC. Mehta assigns a 25% probability of PG&E getting its plan selected, a rights offering at $20 per share.
10/11/19
10/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Crowdstrike (CRWD) downgraded to Sell from Neutral at Goldman Sachs with analyst Heather Bellini stating while CrowdStrike is very well positioned in the market for endpoint security, a "blue sky analysis" suggests this is likely priced in at current share levels. 2. Terex (TEX) downgraded to Underweight from Equal Weight at Barclays with analyst Adam Seiden expecting the rental equipment market to move from equilibrium to oversupplied by 2020. 3. Delta Air Lines (DAL) downgraded to Hold from Buy at Argus with analyst John Staszark saying that while Delta is among the best managed airlines, he thinks better returns are available elsewhere, as Delta is facing prospects for rising costs and slowing revenue growth. 4. PG&E (PCG) downgraded to Sell from Neutral at Citi with analyst Praful Mehta seeing a 75% chance of the stock going to zero after Judge Montali terminated PG&E's exclusive right to advance a plan of reorganization. 5. Canopy Growth (CGC) downgraded to Underperform from Hold at Jefferies with analyst Owen Bennett saying despite the recent selloff in shares, Canopy is the most expensive name across the cannabis space. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GOOG

Alphabet

$1,298.76

-10.6 (-0.81%)

, GOOGL

Alphabet Class A

$1,297.98

-10 (-0.76%)

17:05
11/11/19
11/11
17:05
11/11/19
17:05
Periodicals
State AGs gather in Colorado to go over Google antitrust probe, Reuters says »

State attorneys general…

GOOG

Alphabet

$1,298.76

-10.6 (-0.81%)

GOOGL

Alphabet Class A

$1,297.98

-10 (-0.76%)

FB

Facebook

$189.57

-1.29 (-0.68%)

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FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:03
11/11/19
11/11
17:03
11/11/19
17:03
Hot Stocks
Franco-Nevada reports 133,219 Gold Equivalent Ounces sold in Q3 »

"Franco-Nevada's…

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  • 12

    Nov

FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:02
11/11/19
11/11
17:02
11/11/19
17:02
Earnings
Franco-Nevada reports Q3 EPS 54c, may not compare to consensus 27c »

Reports Q3 revenue…

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    Nov

ENR

Energizer

$43.11

-0.265 (-0.61%)

16:55
11/11/19
11/11
16:55
11/11/19
16:55
Hot Stocks
Energizer appoints new CFO, Chief Legal Officer, and Chief Accounting Officer »

Energizer Holdings…

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  • 13

    Nov

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LYV

Live Nation

$64.47

1.31 (2.07%)

16:52
11/11/19
11/11
16:52
11/11/19
16:52
Upgrade
Live Nation rating change  »

Live Nation upgraded to…

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BUD

AB InBev

$78.70

0.22 (0.28%)

, BREW

Craft Brew

$7.33

0.06 (0.83%)

16:51
11/11/19
11/11
16:51
11/11/19
16:51
Hot Stocks
Anheuser-Busch to buy remaining Craft Brew Alliance stake for $16.50 per share »

Today, Craft Brew…

BUD

AB InBev

$78.70

0.22 (0.28%)

BREW

Craft Brew

$7.33

0.06 (0.83%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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    Feb

CHAP

Chaparral Energy

$0.90

0.089 (10.99%)

16:47
11/11/19
11/11
16:47
11/11/19
16:47
Earnings
Chaparral Energy reports Q3 EPS ($2.86), consensus 2c »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

DXC

DXC Technology

$29.39

-0.69 (-2.29%)

16:43
11/11/19
11/11
16:43
11/11/19
16:43
Hot Stocks
DXC Technology says will pursue strategic alternatives for adjacent business »

In Q2 presentation…

03/08/13
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  • 11

    Nov

DXC

DXC Technology

$29.39

-0.69 (-2.29%)

16:41
11/11/19
11/11
16:41
11/11/19
16:41
Earnings
DXC Technology cuts FY20 EPS view to $5.25-$5.75 from $7.00-$7.75 »

Consensus $7.17. Cuts…

03/08/13
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03/06/13
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03/06/13
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    Nov

LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:35
11/11/19
11/11
16:35
11/11/19
16:35
Hot Stocks
Lonestar sees Q4 production 17,200-17,600 BOE/d »

Lonestar has issued…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

NFE

New Fortress Energy

$15.86

-0.88 (-5.26%)

16:34
11/11/19
11/11
16:34
11/11/19
16:34
Earnings
New Fortress Energy reports Q3 EPS (30c), consensus (16c) »

Reports Q3 revenue…

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03/06/13
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03/06/13
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TME

Tencent Music

$14.35

0.36 (2.57%)

16:34
11/11/19
11/11
16:34
11/11/19
16:34
Hot Stocks
Tencent Music reports Q3 online music Mobile MAUs up 0.9% »

Reports Q3: Mobile MAU up…

03/08/13
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03/06/13
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    Nov

LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:33
11/11/19
11/11
16:33
11/11/19
16:33
Earnings
Lonestar has issued production guidance of 17,200 to 17,600 BOE/d for 4Q19. Prod »

Lonestar has issued…

03/08/13
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03/06/13
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  • 12

    Nov

FEDU

Four Seasons Education

$2.08

0.09 (4.52%)

16:33
11/11/19
11/11
16:33
11/11/19
16:33
Hot Stocks
Four Seasons Education appoints Yi Zuo CEO »

Four Seasons Education…

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LONE

Lonestar Resources

$2.88

0.08 (2.86%)

16:32
11/11/19
11/11
16:32
11/11/19
16:32
Earnings
Lonestar reports Q3 EPS 33c, may not compare to consensus (4c) »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

TME

Tencent Music

$14.35

0.36 (2.57%)

16:32
11/11/19
11/11
16:32
11/11/19
16:32
Hot Stocks
Tencent Music reports Q3 online music payers up 42.2% at 35.4M »

CEO Cussion Pang says:…

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  • 11

    Nov

TME

Tencent Music

$14.35

0.36 (2.57%)

16:31
11/11/19
11/11
16:31
11/11/19
16:31
Earnings
Tencent Music reports Q3 EPS 10c, consensus 9c »

Reports Q3 revenue $910M,…

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  • 11

    Nov

KKR

KKR

$29.27

0.14 (0.48%)

, WBA

Walgreens Boots Alliance

$62.26

3.06 (5.17%)

16:31
11/11/19
11/11
16:31
11/11/19
16:31
On The Fly
Fly Intel: Wall Street's top stories for Monday »

Stocks were generally…

KKR

KKR

$29.27

0.14 (0.48%)

WBA

Walgreens Boots Alliance

$62.26

3.06 (5.17%)

EVR

Evercore Partners

$77.16

-1.14 (-1.46%)

BABA

Alibaba

$186.71

-0.4 (-0.21%)

LUV

Southwest

$58.27

0.1 (0.17%)

BA

Boeing

$366.97

16.32 (4.65%)

AAL

American Airlines

$30.58

-0.19 (-0.62%)

OTEX

OpenText

$42.54

0.99 (2.38%)

CARB

Carbonite

$22.93

4.54 (24.69%)

WE

We Company

$0.00

(0.00%)

TMUS

T-Mobile

$79.64

-1.28 (-1.58%)

S

Sprint

$5.91

-0.2 (-3.27%)

GOOG

Alphabet

$1,298.89

-10.47 (-0.80%)

GOOGL

Alphabet Class A

$1,298.21

-9.77 (-0.75%)

AAPL

Apple

$262.16

1.96 (0.75%)

AGEN

Agenus

$3.90

0.325 (9.10%)

URGN

UroGen Pharma

$24.16

0.59 (2.50%)

PLUG

Plug Power

$2.93

0.205 (7.54%)

MYOK

MyoKardia

$55.48

-4.51 (-7.52%)

SGMS

Scientific Games

$29.85

-1.74 (-5.51%)

03/08/13
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03/06/13
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  • 13

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    Jan

BEN

Franklin Resources

$27.95

-0.33 (-1.17%)

16:31
11/11/19
11/11
16:31
11/11/19
16:31
Hot Stocks
Franklin Resources reports preliminary AUM $693.1B as of October 31 »

Compared to $692.6B at…

03/08/13
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03/06/13
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APYX

Apyx Medical

$7.23

0.25 (3.58%)

16:30
11/11/19
11/11
16:30
11/11/19
16:30
Earnings
Apyx Medical raises FY19 revenue view to $27.4M-$27.9M from $26.5M-$27.5M »

Consensus $26.97M. Sees…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 11

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    Nov

RETA

Reata Pharmaceuticals

$213.50

1.46 (0.69%)

16:30
11/11/19
11/11
16:30
11/11/19
16:30
Hot Stocks
Breaking Hot Stocks news story on Reata Pharmaceuticals »

Reata Pharmaceuticals…

03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

16:30
11/11/19
11/11
16:30
11/11/19
16:30
Options
Preliminary option volume of 14.8M today »

Preliminary option volume…

APYX

Apyx Medical

$7.23

0.25 (3.58%)

16:28
11/11/19
11/11
16:28
11/11/19
16:28
Earnings
Apyx Medical reports Q3 EPS (13c), consensus (18c) »

Reports Q3 revenue $7.6M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 11

    Nov

  • 12

    Nov

KDMN

Kadmon

$2.99

-0.025 (-0.83%)

16:28
11/11/19
11/11
16:28
11/11/19
16:28
Hot Stocks
Kadmon's KD025 met primary endpoint in interim pivotal trial analysis of KD025 »

Kadmon Holding announced…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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EVKIF

Evonik

$0.00

(0.00%)

16:27
11/11/19
11/11
16:27
11/11/19
16:27
Upgrade
Evonik rating change  »

Evonik upgraded to Buy…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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