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. » Más en 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. » Más en 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. » Más en finanzen.net