- PG&E (PCG -14.8%) plunges again after disclosing that its insurance would not cover its cost if the company is found responsible for the Camp Fire in northern California, which has now killed 48 people and destroyed 7,600 homes and other structures.
- "With these borrowings, the entire credit facility has been drawn and PG&E now has $3.5B of cash on its balance sheet," Citi analyst Praful Mehta writes. "We think the primary driver could be concern around a downgrade to a non-investment grade credit rating and the liquidity requirements as a result of the downgrade."
- A group of three law firms has filed a lawsuit against the company - no doubt the first of many - alleging negligence and health and safety code violations.
- Edison International (EIX +0.6%), dealing with the impact of fires in southern California, is little changed so far today.