• Massive CA wildfire 'zero percent contained'
    Reuters Videos

    Massive CA wildfire 'zero percent contained'

    California firefighters on Friday are furiously trying to contain massive wildfires that have been tearing through the Los Angeles area since Thursday night. (SOUND BITE) (ENGLISH) LOS ANGELES FIRE CHIEF RALPH TERRAZAS: “In terms of fire activity, we’re at zero percent containment. The size right now is 4,700 acres-plus. We’ve calculated that the fire’s moving at a rate of 800 acres per hour.” The so-called Saddleridge fire has engulfed homes in the San Fernando Valley and forced massive evacuations, snarling traffic for miles. Some shelters are already at full capacity. No cause has been cited. Dry conditions and high winds a lethal combination in the days to come. (SOUND BITE) (ENGLISH) LOS ANGELES FIRE CHIEF RALPH TERRAZAS: “These weather conditions are significant in terms of brush threat. The relative humidity has dropped to as low as three percent. Right now it’s seven percent. The winds were sustained at about 20 to 25 miles per hour with gusts over 50 miles per hour. So as you can imagine the embers from the wind have been travelling a significant distance, which causes another fire to start.” Much of the state is on high alert, with utility company Pacific Gas & Electric cutting power in several areas to prevent their lines from sparking. That irked California Governor Gavin Newsom, who, while respecting the safety measure, described the outage as too broad and said it resulted from years of mismanagement. PG&E is on the hook for potentially $30 billion for previous wildfires linked to its transmission wires and other equipment. It filed for bankruptcy in January. Separately, another blaze called the Sandalwood fire is sweeping through an area east of L.A., triggered by burning trash in a dumpster. That fire was only 10 percent contained as of Friday morning.

  • California regulator criticizes utility over power outages
    Associated Press

    California regulator criticizes utility over power outages

    The agency ordered a series of corrective actions, including a goal of restoring power within 12 hours, not the utility's current 48-hour goal. "The scope, scale, complexity, and overall impact to people's lives, businesses, and the economy of this action cannot be understated," California Public Utilities Commission President Marybel Batjer wrote in a letter to PG&E CEO Bill Johnson. PG&E last week took the unprecedented step of cutting power to more than 700,000 customers, affecting nearly 2 million Californians.

  • The Latest: Newsom demands payments for those who lost power
    Associated Press

    The Latest: Newsom demands payments for those who lost power

    Gov. Gavin Newsom is asking Pacific Gas & Electric Co., to pay the customers who lost power last week when the state's largest utility cut electricity to prevent wildfires. The Democratic governor sent a letter Monday asking PG&E chief executive Bill Johnson to provide a bill credit or rebate worth $100 for residential customers and $250 for small businesses. Newsom says the shutoffs affected too many customers for too long, and it's clear PG&E implemented them "with astounding neglect and lack of preparation." He says that before the shutoff PG&E executives rejected offers of help from state and local emergency managers.

  • How PG&E Stock Could Trade after a Terrible Week
    Market Realist

    How PG&E Stock Could Trade after a Terrible Week

    Bankrupt utility PG&E; lost more than 25% last week. The fall came after the bankruptcy court allowed a bondholder group to pitch their restructuring plan.

  • PG&E, Boeing, Deere, Sears, Apple: Companies to Watch
    Yahoo Finance

    PG&E, Boeing, Deere, Sears, Apple: Companies to Watch

    PG&E, Boeing, Deere, Sears and Apple are the companies to watch.

  • CommScope Boosts Patents Tally With Fractus Suit Settlement
    Zacks

    CommScope Boosts Patents Tally With Fractus Suit Settlement

    CommScope's (COMM) buyout of Fractus' patent technology is likely to translate into incremental revenues by offering an opportunity to serve a wider spectrum of customers for increased 5G deployment.

  • Has KB Home (KBH) Outpaced Other Construction Stocks This Year?
    Zacks

    Has KB Home (KBH) Outpaced Other Construction Stocks This Year?

    Is (KBH) Outperforming Other Construction Stocks This Year?

  • Do California power shutoffs work? Hard to know, experts say
    Associated Press

    Do California power shutoffs work? Hard to know, experts say

    Millions of Californians spent part of the week in the dark in an unprecedented effort by the state's large electrical utilities to prevent another devastating wildfire. It was the fifth time Pacific Gas & Electric Co. has preemptively cut the power but by far the largest to date in the utility's effort to prevent a deadly wildfire sparked by its power lines. Experts say it's hard to know what might have happened had the power stayed on, or if the utility's proactive shutoffs are to thank for California's mild fire season this year.

  • Financial Times

    PG&E: clear-up plan

    In the case of Californian utility Pacific Gas and Electric Corporation (PG&E), that could mean a complete change of owners. Bondholders led by Paul Singer’s Elliott Management could soon seize control of PG&E after a judge last week cleared the way for them to submit a competing reorganisation plan. The group — which also includes Pimco and Apollo — is offering to inject $29.2bn in new money to help PG&E emerge from Chapter 11 and pay off any victim liabilities from recent wildfires.

  • California mayor blames regulators for PG&E's electricity problems and blackouts
    Yahoo Finance

    California mayor blames regulators for PG&E's electricity problems and blackouts

    The mayor of Cloverdale California says plenty of people blame troubled utility PG&E for recent blackouts but they should blame the California Public Utilities Commission.

  • The Zacks Analyst Blog Highlights: KB Home, Beazer, American Electric and Molina
    Zacks

    The Zacks Analyst Blog Highlights: KB Home, Beazer, American Electric and Molina

    The Zacks Analyst Blog Highlights: KB Home, Beazer, American Electric and Molina

  • Company News For Oct 11, 2019
    Zacks

    Company News For Oct 11, 2019

    Companies in the news are: RARX, BBBY, PCG, MITO

  • 4 Stock Picks From Top-Performing Sectors of Q3
    Zacks

    4 Stock Picks From Top-Performing Sectors of Q3

    Despite a mixed third quarter, some sectors outpaced market expectations and gained impressively.

  • California outages ease after wind, fire danger move south
    Associated Press

    California outages ease after wind, fire danger move south

    The lights were back on Friday for most of the nearly 2 million Northern California residents who lost electricity when the state's largest utility switched it off this week in an effort to prevent wildfires. The threat of widespread outages loomed in Southern California after the winds moved to the Los Angeles area, where a wildfire fueled by strong Santa Ana winds prompted officials to order the evacuation of 100,000 people from their homes in the foothills of the San Fernando Valley in Los Angeles County. Pacific Gas & Electric Co. restored power in Northern California after workers inspected power lines to make sure it was safe.

  • 3 Stocks With Top Style Scores
    Zacks

    3 Stocks With Top Style Scores

    3 Stocks With Top Style Scores

  • Financial Times

    IAC pushes ahead with Match spin-off plans

    Breaking up is hard to do but IAC is doing it anyway. The media and internet holding company said on Friday it is pushing ahead with its plans to spin-off dating company Match Group and has presented a proposal to the company’s board. IAC’s proposed transaction aims to distribute shares representing nearly 80.5 per cent of outstanding stock in Match — the group behind dating apps like Tinder, Hinge and okCupid — to IAC shareholders in a tax-free transaction, creating two independent companies.

  • Zoom Video and CRWD Lead Tech IPO Gains in 2019
    Market Realist

    Zoom Video and CRWD Lead Tech IPO Gains in 2019

    Zoom Video is trading significantly higher than 2019's other IPO debutants. Zoom stock had an offer price of $36 and is trading at $73.52—104% higher.

  • CA wildfires force 4 Kaiser Permanente hospitals to operate on generators: CEO
    Yahoo Finance

    CA wildfires force 4 Kaiser Permanente hospitals to operate on generators: CEO

    Rolling blackouts in California are affecting Kaiser Permanente facilities, but CEO Brendan Tyson isn't worried.

  • California power outage: Isn't there an easier way?
    Associated Press

    California power outage: Isn't there an easier way?

    Power to hundreds of thousands of homes and businesses has been cut off, affecting millions of people in California. Pacific Gas and Electric Co. said a forecast of extreme wind and dry weather has created fire danger of an unprecedented scope, prompting it to initiate the largest preventive outage in state history to reduce the risk of wildfires sparked by faulty power lines. HOW LONG WILL THE POWER BE OUT?

  • KB Home, Whiting, SmileDirectClub, CrowdStrike and Chewy highlighted as Zacks Bull and Bear of the Day
    Zacks

    KB Home, Whiting, SmileDirectClub, CrowdStrike and Chewy highlighted as Zacks Bull and Bear of the Day

    KB Home, Whiting, SmileDirectClub, CrowdStrike and Chewy highlighted as Zacks Bull and Bear of the Day

  • KB Home (KBH) Expands Credit Facility, Extends Maturities
    Zacks

    KB Home (KBH) Expands Credit Facility, Extends Maturities

    KB Home (KBH) solidifies its liquidity position with an increase in credit facility and extension in the maturity date.

  • Latest: Son: Mother, 89, missing after California homes burn
    Associated Press

    Latest: Son: Mother, 89, missing after California homes burn

    Don Turner says his 89-year-old mother is missing after a wind-driven wildfire destroyed dozens of Southern California mobile homes. Riverside County fire officials say they're trying to determine if anybody is unaccounted for after 74 structures were destroyed. Arvickson lived alone at the mobile home community east of Los Angeles.

  • The Zacks Analyst Blog Highlights: CoreLogic, Booz Allen, Akamai, Global Water and KB Home
    Zacks

    The Zacks Analyst Blog Highlights: CoreLogic, Booz Allen, Akamai, Global Water and KB Home

    The Zacks Analyst Blog Highlights: CoreLogic, Booz Allen, Akamai, Global Water and KB Home

  • 4 Stocks to Win Big as Powell Hints at Another Rate Cut
    Zacks

    4 Stocks to Win Big as Powell Hints at Another Rate Cut

    Fed Chair Powell leaves the door open for another rate cut in October as jobs growth last month was not as robust as expected and trade concerns continue to impede economic growth.