PG&E and Edison plunge after California wildfire liability vote

M&A · PartnershipManagementRegulation
โดย CNBC·US·Read original
Summary · why it matters

PG&E and Edison International tumbled 19% and 24%, respectively, after California lawmakers blocked a proposal that would have limited payouts from utilities whose equipment sparked wildfires, prompting downgrades from analysts. Apple slipped nearly 2% on reports that App Store chief Phil Schiller is stepping down, while Howmet Aerospace fell over 8% after SpaceX said it would make turbine parts in-house. Herbalife dropped 13% on its CEO's departure, and Aon slid over 7% after agreeing to buy USI Insurance Services for $17 billion. Eli Lilly fell over 1% after announcing a $2.9 billion acquisition of Merida Biosciences, while GameStop rose 3% on preliminary results showing higher income. Deere and AGCO gained over 3% on an upgrade from Baird.

Impact on stocks 22

Energy Transition & Power Demand▼ · 3 stocks
Edison International
EIX
▼ NegativeRegulationrelevance

California lawmakers blocked a proposal limiting wildfire payouts from utilities, prompting downgrades and a 24% plunge in Edison International.

PG&E Corp
PCG
▼ NegativeRegulationrelevance

PG&E tumbled 19% after California lawmakers blocked a proposal limiting wildfire payouts from utilities.

Climate Adaptation & Water± Mixed · 3 stocks
Aon PLC
AON
▼ NegativeCapitalrelevance

Aon agreed to buy USI Insurance Services for $17 billion, a major acquisition that sent shares down over 7%.

Deere & Company
DE
▲ PositiveCapitalrelevance

Deere gained over 3% after Baird issued an upgrade.

Consumer Discretionary▲ · 2 stocks
GameStop Corp.
GME
▲ PositiveCapitalrelevance

GameStop rose 3% on preliminary results showing higher income.

Defense & Geopolitical Fragmentation▼ · 2 stocks
Howmet Aerospace Inc
HWM
▼ NegativeCompetitionrelevance

Howmet fell over 8% after SpaceX said it would make turbine parts in-house, undercutting its business.

Artificial Intelligence▼ · 2 stocks
Apple Inc.
AAPL
▼ NegativeTechnologyrelevance

App Store chief Phil Schiller is stepping down, a leadership change for Apple's App Store business.

Energy▲ · 2 stocks
Consumer Staples▼ · 1 stocks
Biotech & Genomic Medicine▼ · 1 stocks
Eli Lilly and Company
LLY
▼ NegativeCapitalrelevance

Eli Lilly fell over 1% after announcing a $2.9 billion acquisition of Merida Biosciences.

Critical Materials & Supply Chain▲ · 1 stocks
Aging Population▲ · 1 stocks
Carbon Removal (DAC)▲ · 1 stocks
Communication Services▲ · 1 stocks
Space Economy▲ · 1 stocks
Synthetic Biology (non-pharma)▲ · 1 stocks

Off-coverage companies 2

Merida BiosciencesPrivate± Mixed
relevance

USIインシュアランス・サービシズPrivate± Mixed
relevance

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