Trading Ideas

No Picture
Trading Ideas

Edison International says its equipment may have sparked Woolsey fire

October 30, 2019 admin Comments Off on Edison International says its equipment may have sparked Woolsey fire

Southern California Edison Co (SCE) equipment was found to be the cause of last year’s Woolsey fire according to a redacted investigation report from the Ventura County Fire Department, its owner Edison International said on Tuesday. “Absent additional evidence, SCE believes it is likely that its equipment was associated with the ignition of the Woolsey fire,” Edison’s chief executive officer, Pedro Pizarro, said on a post-earnings conference call. …read more […]

No Picture
Trading Ideas

Fiat Might Be Happier With Peugeot Than Renault

October 29, 2019 admin Comments Off on Fiat Might Be Happier With Peugeot Than Renault

(Bloomberg Opinion) — The automotive M&A carousel is taking another turn, with Peugeot SA and Fiat Chrysler Automobiles NV hopping aboard this time. The two companies are in talks about a potential merger that would create a $47 billion auto giant, according to a Wall Street Journal report that was confirmed later by Bloomberg News. This comes just a few months after Fiat abandoned talks to merge with Peugeot’s French rival Renault SA. And yet the news isn’t the least bit surprising: Peugeot and Fiat have both made clear in the past that they’re keen on consolidation, and indeed they’ve …read more […]

No Picture
Trading Ideas

Edison Equipment Tied to Deadly 2018 Blaze Near Los Angeles

October 29, 2019 admin Comments Off on Edison Equipment Tied to Deadly 2018 Blaze Near Los Angeles

(Bloomberg) — Edison International said its equipment has been identified as the cause of one of the most destructive fires in California history, which killed three people and burned parts of Malibu.County fire officials have determined that the Woolsey Fire, which raged for weeks in Los Angeles and Ventura counties in November 2018, was sparked by the utility’s electrical equipment, Edison Chief Executive Officer Pedro Pizarro said in a call with investors on Tuesday. The company had previously taken a $4.7 billion charge in connection to wildfires in 2017 and 2018, and said on Tuesday that it doesn’t anticipate the …read more […]

No Picture
Trading Ideas

UPDATE 1-Amgen third-quarter revenue falls 3%, biosimilar sales rise

October 29, 2019 admin Comments Off on UPDATE 1-Amgen third-quarter revenue falls 3%, biosimilar sales rise

Amgen Inc on Tuesday said competition for its older drugs sent third-quarter revenue down 3%, but biosimilar sales were strong and the company raised its full-year outlook. The California based biotechnology company posted adjusted earnings per share of $3.66, beating the average analyst estimate by 13 cents, according to IBES data from Refinitiv. Share buybacks lowered the number of Amgen shares outstanding by 7% from a year earlier. …read more […]