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PCG

PG&E

$11.26

-0.49 (-4.17%)

07:38
12/14/19
12/14
07:38
12/14/19
07:38

California Governor says PG&E restructuring plan 'falls woefully short'

California Governor Gavin Newsom late Friday rejected PG&E's plan to pay Northern California wildfire victims and exit bankruptcy. In a letter to PG&E Chief Executive Bill Johnson, the governor declared that the company's proposal "falls woefully short" of a law outlining requirements that would allow the utility to receive state assistance. He states, "The resolution of this bankruptcy must yield a radically restructured and transformed utility that is responsible and accountable." Among other things, Newsom demanded an entirely new slate of directors who are subject to state approval, and a structure that would allow PG&E's operating license to be transferred "to the state or a third-party when circumstances warrant." Newsom added, "For too long, PG&E has been mismanaged, failed to make adequate investments in fire safety and fire prevention, and neglected critical infrastructure. PG&E has simply violated the public trust." Shares of PG&E closed Friday down 48c to $11.24. Reference Link

  • 07

    Jan

PCG PG&E
$11.26

-0.49 (-4.17%)

10/28/19
WOLF
10/28/19
DOWNGRADE
Target $19
WOLF
Peer Perform
Clearway Energy downgraded to Peer Perform on PG&E risk at Wolfe Research
Wolfe Research analyst Steve Fleishman downgraded Clearway Energy (CWEN) to Peer Perform from Outperform with a price target of $19, down from $21. The analyst notes Clearway has the most exposure to PG&E (PCG) with 30% of consolidated CAFD derived from the company.
11/12/19
SBSH
11/12/19
NO CHANGE
Target $5
SBSH
Sell
PG&E may offer both cash and stock to to TCC, says Citi
Citi analyst Praful Mehta notes that PG&E looking to offer the Tort Claimants Committee $13.5B, as reported yesterday by Bloomberg, would be the same amount that the bondholders have offered. It may be possible that PG&E offers a combination of cash and stock to the TCC to limit the size of the rights offering, Mehta tells investors in a research note. The value at which these shares are issued will also be a question, adds the analyst. He believes PG&E's total equity raise would be $27B, assuming holdco debt financing capacity of $4B. The analyst assumes a pro forma stock price of $4.80 per share with rights at $3.90 per share. Mehta keeps a Sell rating on PG&E with a $5 price target.
11/19/19
SBSH
11/19/19
NO CHANGE
Target $5
SBSH
Sell
PG&E filing shows reduced financing commitment, says Citi
PG&E filed an 8-K highlighting a redo of its financing commitments, Citi analyst Praful Mehta tells investors in a research note. The filing included a lower financing commitment of $12B versus $14B earlier, with $7.4B secured to date, adds the analyst. He believes the reduced commitment could reflect concern from some investors. Mehta reiterates a Sell rating on PG&E shares with a $5 price target.
12/11/19
SBSH
12/11/19
NO CHANGE
Target $10.5
SBSH
Buy
Citi boosts PG&E target to $10.50, says no chance of zero stock price now
Citi analyst Praful Mehta raised his price target for PG&E to $10.50 from $5 saying the company's settlement with the Official Committee of Tort Claimants likely dealt a "fatal blow" to the bondholder plan and the zero stock price scenario. The shares closed Tuesday up $1.14 to $12.32. The bondholder plan's primary leverage was their deal with the Committee of Tort Claimants, Mehta tells investors in a research note. Without that leverage, he sees a "very low likelihood" of Judge Montali rejecting the settlement and keeping the two competing plans alive. The analyst, whose new $10.50 price target is based on the latest settlement, keeps a Sell rating on PG&E.

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NTDOY

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AAPL

Apple

$318.56

2.17 (0.69%)

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Apple

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2.17 (0.69%)

GOOG

Alphabet

$1,493.73

8.81 (0.59%)

GOOGL

Alphabet Class A

$1,491.43

8.73 (0.59%)

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ARWR

Arrowhead

$48.17

0.54 (1.13%)

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  • 05

    Feb

MSI

Motorola Solutions

$177.26

0.29 (0.16%)

12:44
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Periodicals
Motorola presales for foldable 'revived' Razr begin January 26, Engadget says »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$331.71

0.39 (0.12%)

12:44
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Periodicals
French minister says France, U.S. agree on digital tax framework, AP reports »

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S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$331.71

0.39 (0.12%)

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12:37
01/22/20
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12:37
Conference/Events
Wolfe Research utilities/midstream analysts to hold luncheon meeting »

Utilities & Power…

CMCSA

Comcast

$47.44

0.13 (0.27%)

12:35
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Olympic qualifiers moved or canceled due to coronavirus, CNN reports »

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  • 23

    Jan

DIS

Disney

$143.99

0.46 (0.32%)

12:33
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Scopely acquires FoxNext Games, Cold Iron Studios from Disney »

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  • 04

    Feb

FCAU

Fiat Chrysler

$13.51

-0.135 (-0.99%)

, PUGOY

Peugeot

$0.00

(0.00%)

12:25
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Periodicals
Fiat Chrysler CEO says PSA deal talks 'progressing really well,' Reuters says »

Fiat Chrysler (FCAU) CEO…

FCAU

Fiat Chrysler

$13.51

-0.135 (-0.99%)

PUGOY

Peugeot

$0.00

(0.00%)

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APHA

Aphria

$5.66

0.345 (6.49%)

12:25
01/22/20
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Options
Aphria call volume above normal and directionally bullish »

Bullish option flow…

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12:25
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Conference/Events
The Executives' Club of Chicago to hold a luncheon meeting »

The Executives' Club…

SRPT

Sarepta

$121.03

-1.65 (-1.34%)

12:24
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Periodicals
New documents point to 'deeper' FDA concerns about Sarepta's Vyondys, STAT says »

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PTI

Proteostasis

$1.96

0.04 (2.08%)

12:17
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Proteostasis to present data from organoid study in CF treatment »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
01/22/20
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Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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MRNA

Moderna

$21.97

1 (4.77%)

12:16
01/22/20
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12:16
Recommendations
Moderna analyst commentary  »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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12:15
01/22/20
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General news
Oil Action: WTI crude »

Oil Action: WTI crude hit…

TWLO

Twilio

$119.62

0.47 (0.39%)

12:12
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Periodicals
Breaking Periodicals news story on Twilio »

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  • 05

    Feb

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    Feb

NFLX

Netflix

$332.00

-6.24 (-1.84%)

, IBM

IBM

$143.22

4.07 (2.92%)

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On The Fly
Fly Intel: Wall Street's top stories at midday »

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NFLX

Netflix

$332.00

-6.24 (-1.84%)

IBM

IBM

$143.22

4.07 (2.92%)

AAPL

Apple

$318.43

2.04 (0.64%)

ETN

Eaton

$97.23

2.72 (2.88%)

ABT

Abbott

$92.33

2.57 (2.86%)

NAVI

Navient

$15.02

1.16 (8.37%)

ARNC

Arconic

$28.60

-0.795 (-2.71%)

FCEL

FuelCell

$2.14

-0.735 (-25.61%)

NTRS

Northern Trust

$102.32

-6.35 (-5.84%)

03/08/13
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  • 22

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  • 04

    Feb

NTDOY

Nintendo

$0.00

(0.00%)

12:09
01/22/20
01/22
12:09
01/22/20
12:09
Periodicals
Judge says iLife's patent suit against Nintendo not valid, Verge says »

Federal Judge Barbara…

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WILC

G. Willi-Food

$12.22

-0.21 (-1.69%)

12:06
01/22/20
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12:06
Hot Stocks
G. Willi-Food CEO Michael Luboschitz to resign for personal reasons »

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ELAN

Elanco

$31.41

0.77 (2.51%)

12:05
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Options
Elanco Animal Health call volume above normal and directionally bullish »

Bullish option flow…

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  • 19

    Feb

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HUYA

Huya

$18.73

-1.75 (-8.54%)

12:00
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Huya falls -8.5% »

Huya is down -8.5%, or…

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CMRE

Costamare

$9.01

-1.34 (-12.95%)

12:00
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Costamare falls -12.9% »

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CANG

Cango

$7.28

-0.71 (-8.89%)

12:00
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Hot Stocks
Cango falls -9.3% »

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