Edison International

Edison International shares plunged in premarket trading after Mizuho cut the stock from “Outperform” to “Neutral” and lowered the price target from $86 to $70. The move follows the failure of a comprehensive California wildfire liability reform (SB 492), which neither replenishes the fund nor removes the tight link between the fund’s solvency and liability caps. Downgrades from several banks, an industry sell‑off including PG&E, and $1.6 billion in losses related to the Eaton fire have increased pressure on the stock. » More on de.investing.com

Edison International shares fell about 5.9% in the afternoon after the California legislature blocked a proposal from Governor Newsom that would have barred insurers from seeking subrogation claims against utilities for wildfire damages. The defeat leaves Southern California Edison exposed to the risk of unlimited insurer lawsuits and triggered a sell-off among California utilities. Barclays downgraded EIX from overweight to equal-weight and cut its price target; Argus had earlier lowered its rating as well. The broader U.S. market showed only moderate losses. » More on de.investing.com

Edison International beat analysts’ expectations in the second quarter with adjusted earnings per share rising by nearly 60%. Management led by CEO Pedro Pizarro confirmed the company’s annual targets for 2026 and signaled sustainable, long-term earnings growth. Despite slightly lower revenues, high trading volume attracted institutional investors, supported by robust margins and regulatory clarity. » More on finanzen.net

Edison’s stock rose about 3% after a preliminary decision by Judge Laura Seigle, who declined to automatically hold subsidiary Southern California Edison liable for a 2025 wildfire without a full trial. Insurers had asserted billion-dollar claims under a California law, but the motion was denied. The ruling gives Edison relief while the company contests the damage claims; the fire department attributes the “Eaton Fire” to arcing on a decommissioned pole. » More on de.investing.com

Edison International stock dropped about 4.6% after a Los Angeles County Fire Department report found that arcs from a decommissioned transmission tower of subsidiary Southern California Edison triggered the Eaton fire in January 2025. The report bolsters lawsuits from more than 32,000 plaintiffs and increases the risk of additional liability beyond roughly $1.6 billion in already agreed payments. Barclays downgraded the stock to "Equal Weight" and cut its price target to $75, while Truist cut its target to $77 but kept the rating at "Hold." The combination of the report, analyst reactions and uncertain wildfire liability legislation put significant pressure on the stock, while the broader US market made solid gains. » More on de.investing.com