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News Breaks
March 18, 2014
15:00 EDTPCG, EIX, SCTY, SRESolarCity halts energy storage program in California, Bloomberg reports
About 500 SolarCity customers in California have agreed to install and connect systems that include batteries for power storage, but the state’s biggest utilities, namely PG&E (PCG), Southern California Edison (EIX) and Sempra's (SRE) San Diego Gas & Electric, have connected only 12 of them to the grid since 2011, prompting the company to halt its efforts, reported Bloomberg. A SolarCity spokesman said the company has stopped submitting applications because it has "lost faith that these things are actually going to be carried out in any reasonable time.” Reference Link
News For SCTY;PCG;SRE;EIX From The Last 14 Days
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April 20, 2015
16:33 EDTSCTYSolarCity initiated with an Outperform at Northland
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07:34 EDTEIXFirstEnergy added to US1 List, Edison International removed at BofA/Merrill
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06:09 EDTPCGPG&E pipeline rupture causes 12 injuries, WSJ reports
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April 19, 2015
18:13 EDTPCGPG&E says natural gas transmission pipeline struck in Fresno
PG&E said in a press release: "Pacific Gas and Electric urges anyone doing digging projects to call 811 at least two working days in advance so that utility lines can be marked to allow for safe digging. Workers not affiliated with PG&E apparently struck a 12-inch natural gas transmission pipeline this afternoon in Fresno; no call had been placed to 811. The gas that was released by the dig-in ignited, and there were reports of injuries." The company said in a statement: “Our primary concern is always the safety of the public and our employees. Our thoughts and prayers are with those who have been injured. As we continue to investigate this incident, we remind all of our customers of the importance of calling 811 before they do any type of digging project. Digging into gas pipelines can have serious safety consequences.” PG&E responded quickly after the pipeline was struck. PG&E detected a slight change in pressure at 2:29 p.m., and was first notified about the incident at 2:36 p.m. Actions to shut off gas began before 3 p.m., and the flow of gas to the pipeline was shut at 3:20 p.m. Because of the remaining gas in the line, the flames were exhausted at 3:56 p.m.
April 17, 2015
18:45 EDTEIXSCE says San Onofre nuclear plant settlement 'fair and reasonable'
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April 16, 2015
11:03 EDTSCTYSolarCity initiated with an Outperform at Avondale
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April 15, 2015
12:14 EDTSCTYSolarCity active call on renewed takeover speculation
SolarCity April 56.5 and 57 calls are active on total call volume of 4K contracts (1K puts) on renewed takeover speculation. April call option implied volatility is at 45, May is at 52, July is at 42, October is at 37; compared to its 26-week average of 49 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
12:05 EDTSCTYRumor: SolarCity active on renewed takeover speculation
Shares of SolarCity (SCTY) are moving higher amid speculation Mitsubishi Electric may acquire the company.
April 13, 2015
10:00 EDTSREOn The Fly: Analyst Upgrade Summary
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08:14 EDTSCTYSolarCity announces partnership with Nest Labs
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06:27 EDTSRESempra Energy upgraded to Buy from Neutral at Goldman
Goldman upgraded Sempra Energy to Buy with a $130 price target due to robust growth, additional value from Cameron LNG expansion, and value creation from a potential MLP/Yieldco.
April 9, 2015
15:32 EDTPCGSan Bruno resolution removes one overhang for PG&E, says Wells Fargo
Wells Fargo believes the resolution of the San Bruno investigation removes an overhang for PG&E, but notes that others remain, citing other investigation into the company that the CPUC has said it plans. The firm added that it is unclear about the CPUC's ability to influence the tax treatment of certain items involved in the decision, which it believes is worth monitoring. Wells has an Outperform rating on PG&E shares.
14:30 EDTPCGPG&E does not expect to appeal CPUC rulings on San Bruno explosion
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14:03 EDTPCGCPUC penalizes PG&E $1.6B for pipeline violations
The California Public Utilities Commission, or CPUC, imposed the largest penalty it has ever assessed by ordering Pacific Gas and Electric Company shareholders to pay $1.6B for the unsafe operation of its gas transmission system, including the pipeline rupture in San Bruno, Calif., in 2010. In approving CPUC President Michael Picker’s penalty proposal, the Commissioners increased the penalty amount $200M over what was proposed by Administrative Law Judges. The decision orders PG&E to pay $850M in gas transmission pipeline safety infrastructure improvements, most of which will be spent on capital investments that PG&E will not add to its rate base and thus will not earn any profit on; $300M in a fine to the state’s General Fund; $400M in a one-time bill credit spread across PG&E’s gas customers; and approximately $50M towards other remedies to enhance pipeline safety. When added to the disallowances already adopted in a prior CPUC Decision, the penalties and remedies exceed $2.2B. Shares of PG&E are down a bit more than 1% to $52.97 in afternoon trading after the decision.
13:40 EDTPCGPG&E ordered by California to pay $1.6B penalty for pipeline explosion
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08:16 EDTSCTYBofA/Merrill sees catalysts ahead for SolarCity
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April 8, 2015
15:38 EDTSRECaterpillar nominates Sempra Energy CEO to board
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