EnerNOC signs demand response contract expansion in Northern California EnerNOC (ENOC) announced that it has expanded its demand response presence in Northern California, securing the opportunity to grow its megawatts in the region by over 50% through 2015. EnerNOC won the additional megawatts through a competitive bidding process; EnerNOC's share comprised nearly 45% of the total megawatts awarded. This program is administered by Pacific Gas & Electric (PCG) and funded by California utility customers under the auspices of the California Public Utilities Commission. The contract has received public utility commission approval.
On The Fly: Analyst Downgrade Summary Today's noteworthy downgrades include: Altria Group (MO) downgraded to Outperform from Buy at CLSA... Baxter (BAX) downgraded to Market Perform from Outperform at Leerink... Changyou.com (CYOU) downgraded to Hold from Buy at Summit Research... Depomed (DEPO) downgraded to Neutral from Buy at Janney Capital... Euronet (EEFT) downgraded to Neutral from Buy at Monness Crespi... Foundation Medicine (FMI) downgraded to Market Perform at JMP Securities... Garmin (GRMN) downgraded to Underweight from Neutral at JPMorgan... Golden Star Resources (GSS) downgraded to Hold at Canaccord... Grainger (GWW) downgraded on negative catalysts at RBC Capital... Henry Schein (HSIC) downgraded to Hold from Buy at Evercore ISI... LINN Energy (LINE) downgraded to Market Perform from Outperform at Raymond James... LifeLock (LOCK) downgraded to Neutral from Buy at BofA/Merrill... LinnCo (LNCO) downgraded to Market Perform from Outperform at Raymond James... Manitowoc (MTW) downgraded to Hold from Buy at BB&T... PACCAR (PCAR) downgraded to Equal Weight on peak cycle concerns at Morgan Stanley... PG&E (PCG) downgraded to Neutral from Outperform at Credit Suisse... Pacer (PACR) downgraded to Equal Weight from Overweight at Morgan Stanley... Penn Virginia (PVA) downgraded to Sector Perform from Outperform at Scotia... Shutterfly (SFLY) downgraded to Market Perform at Raymond James... Terex (TEX) downgraded to Hold from Buy at BB&T... Total System (TSS) downgraded to Neutral at Baird... Whiting Petroleum (WLL) downgraded to Equal Weight from Overweight at Stephens... Whole Foods (WFM) downgraded to Equal Weight from Overweight at Morgan Stanley.
PG&E downgraded to Neutral from Outperform at Credit Suisse Credit Suisse downgraded PG&E to Neutral and lowered its price target to $58 from $61. The firm downgraded shares based on valuation and said the busy regulatory calendar and management's focus on repositioning will push out discussions on dividend policy and longer-term growth rates to some point in 2016.