26.00 +0.41 (1.60%)
After hours: 7:58PM EST
|Bid||0.00 x 1100|
|Ask||26.16 x 3100|
|Day's Range||22.35 - 29.20|
|52 Week Range||22.35 - 56.90|
|Beta (3Y Monthly)||-0.22|
|PE Ratio (TTM)||109.36|
|Earnings Date||Feb 7, 2019 - Feb 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||53.60|
The remains of eight more victims were found on Wednesday in and around a northern California town overrun by flames last week, raising the death toll to 56 in a wildfire disaster that ranks as the most lethal and destructive in the state's history. The latest fatality count was announced hours after National Guard troops arrived to assist in combing through the ash-strewn ruins in what was left of Paradise, California, a Sierra foothills hamlet about 175 miles (280 km) north of San Francisco. Most of those who remain unaccounted for are from Paradise, which was once home to 27,000 people but was largely incinerated last Thursday night in the killer blaze, dubbed the Camp Fire.
CHICO, California (AP) — A utility accused in a lawsuit of igniting California's deadliest and most destructive wildfire said it contacted a customer about a power line on her property but that sparks were not part of the discussion.
The lawsuit seeking damages against California's largest public utility was filed on Tuesday in San Francisco County Superior Court by three law firms, which refer to themselves as Northern California Fire Lawyers. "It's important to remember that the cause (of the "Camp Fire") has yet to be determined," PG&E said in a statement. The Camp Fire, which began last Thursday, has all but wiped out the Sierra foothills town of Paradise in Butte County, about 175 miles (280 km) north of San Francisco, that was overrun by flames and largely incinerated.
Prominent hedge funds, including Baupost Group and Viking Global Investors, may be bearing the brunt of utility PG&E Corp's (PCG.N) tumbling share price after raising bets on the utility in the months ahead of the Camp Fire, California's deadliest wildfire. PG&E said liabilities related to the wildfire ravaging northern California could exceed its recently renewed insurance cover if its equipment was found responsible for starting the Camp Fire.
California’s largest utility suffered its steepest stock plunge in 16 years Wednesday as concerns grew that potential liability costs from destructive wildfires threaten the company’s financial future. Shares in PG&E Corp. fell nearly 22% and its bonds were also hammered, capping five straight days of losses that have dragged shares down more than 47%, its worst such stretch on record. The free fall began after the company reported to state regulators that one of its transmission lines had malfunctioned before the start of a massive fire in Northern California.
In a bid to shore up its finances, the company also said in a regulatory filing https://bit.ly/2zS3wVj late on Tuesday that it had borrowed more than $3 billion under credit lines available to it and its Pacific Gas and Electric Co power utility, the maximum available from those sources. The developments triggered fresh pressure on PG&E's shares, and, for the first time since the Camp Fire's outbreak on Nov. 8, prices on more than $18 billion of PG&E bonds dropped substantially. The new borrowings would have seniority to PG&E's existing bonds in any debt restructuring.
An attorney for a group of victims of the so-called Camp fire in Northern California on Wednesday alleged that there's "pretty overwhelming" evidence that PG&E was at fault for the deadliest wildfire in the state's history. "In this case we know an awful lot," said Bay Area attorney Michael Danko, who represents a group of plaintiffs who lost homes and possessions in the town of Paradise and the surrounding area. PG&E said "safety of our customers and the communities we serve is our highest priority" and added that the cause of the blaze remains under investigation.
PG&E's stock lost more than 20 percent of its value Wednesday after the utility said it does not have nearly enough insurance coverage if it is found liable for a Northern California wildfire that has left at least 48 people dead and destroyed about 7,700 homes.
Big question for Amazon's 2 chosen cities: Will it pay off? WASHINGTON (AP) -- The awarding of Amazon's second headquarters to two affluent localities has fanned intense speculation around a key question: For the winning cities, will the economic payoff prove to be worth the cost? Amazon's decision will bring to Arlington, Virginia, and to the Long Island City section of New York jobs and investment.