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(Bloomberg) -- Less than a month after emerging from bankruptcy triggered by a string of devastating wildfires in 2017 and 2018, PG&E Corp. has now been found responsible for California’s biggest blaze of 2019.The California energy giant’s power lines sparked the Kincade fire which burned 77,758 acres and destroyed 374 structures in Sonoma County wine country, the California Department of Forestry and Fire Protection, said Thursday.Investigators have sent a report on the incident to the Sonoma County District Attorney’s Office, only a month after PG&E pleaded guilty to 84 counts of involuntary manslaughter for a 2018 conflagration that was the most deadly in state history.Brandon Gilbert, an assistant to Sonoma County District Attorney Jill Ravitch, didn’t immediately respond to an email and phone call seeking comment. PG&E didn’t immediately respond to a request for comment.PG&E’s equipment was long suspected of causing the Kincade fire that started on October 23, as the...
The tech surge has appeared limp lately, with hints a possible trend reversal might be on the way. But Apple (AAPL) stock is having none of it – yet. Along with the share price reaching new milestones on an almost daily basis, the giant from Cupertino is rewarded with another boost from Wall Street’s analyst corps.Joining the fray, Merrill Lynch analyst Wamsi Mohan bumped up his price target for Apple from $390 to $410, implying modest potential upside of 6% from current levels. No change to Mohan’s rating, which remains a Buy. (To watch Mohan’s track record, click here)So, why amid a pandemic, which has resulted in a contracting economy and high unemployment rates, does Apple’s share price keep soaring? On a fundamental level, Mohan believes several “improving trends” are helping to fuel the surge.Among these Mohan counts “continued strong App store revenue growth.” Based on third part data, in fiscal...
(Bloomberg) -- Anthony Fauci told Facebook, Inc. ‘s Mark Zuckerberg that he expects results for a clinical trial on monoclonal antibodies by late summer or early fall, underscoring the speed at which the government has been working to quickly approve and roll out treatment for the novel coronavirus.A monoclonal antibody is a laboratory-produced protein that can potentially be used to treat sick patients as well as for prophylaxis. Fauci, the top U.S. infectious disease expert, described them as “precise bullets” that can be developed from antibodies from other people who’ve been infected and used as a treatment to fight the virus at multiple stages.“What we really need are drugs that, when given early, can prevent a symptomatic person from requiring hospitalization or very dramatically diminish the time that they’re symptomatic,” Fauci said during the Facebook Live interview on Thursday. Monoclonal antibodies can be administrated intravenously or through a shot.Fauci, director of...
(Bloomberg) -- For fans of haywire market statistics, there’s this: The Nasdaq Composite has managed to go two months without posting back-to-back declines. That record streak was under threat after Netflix Inc.’s after-hours drop sent exchange-traded funds tracking the tech space lower.The index, weighted to megacaps like Amazon.com Inc. and Facebook Inc., lost 0.7% in Thursday’s regular session, as investors rotated out of tech in favor of laggards like airlines and energy. An ETF tied to its sister index, the Nasdaq 100, was down another 0.5% as of 7:12 p.m. in New York.The proximate culprit was Netflix, which said it expects to add 2.5 million paid subscribers to its streaming service in the third quarter, about half the estimate in data compiled by Bloomberg. The stock was down about 8% from its close at 4 p.m. in New York, dragging Amazon and Facebook down in sympathy.A retreat Friday in the larger...
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]...
Stock futures were roughly flat Thursday evening, as futures steadied following declines earlier in the day....
