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PG&E Corporation Reports Second Quarter Earnings; Reaffirms Guidance PCG

62%

+2.40% in 95 days <> <font> PG&E Corporation’s ( PCG ) net income after dividends on preferred stock (also called "income available for common shareholders") was $388 million, or $1.02 per share, in the second quarter ended June 30, 2009, as reported in accordance with generally accepted accounting principles (GAAP). The second quarter included a $0.15 per share item relating to a tax refund and a $0.07 per share item relating to the recovery of costs incurred in prior years. On a non-GAAP basis, PG&E Corporation’s earnings from operations were $315 million, or $0.83 per share, in the second quarter of 2<><><><><><><><><>< />< />< />< />< />< /><><>< />< />< />< />< />< />< />< />< /><><>< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< /><>< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< />< /><><><><>< />... Continue reading »

From the Blogosphere

Analyst upgrades, downgrades and initiations: ACOR, BHI, HAL, LAZ, SLB, TRV ...

Filed under: Analyst reports, Analyst upgrades and downgrades, Analyst initiations Analyst upgrades: <> Citigroup upgraded Schlumberger (NYSE: SLB) to Buy from Hold on valuation and the company's exposure to a potential upturn in international drilling. The firm raised its target on shares to $80 from $56. UBS upgraded Allegheny Tech (NYSE: ATI) to Buy from Neutral and raised its target to $43 from $31 and believes the end of jet engine and other destocking will result in an initial recovery into 2010, even before an order ramp into 2011. <>Merriman upgraded Acorda Therapeutics (NASDAQ... Continue reading »

Notable Analyst Rating Changes 10/15: JPM, PCG, NVLS, PRX Upgrade; BJS, BHI, SCHW, AZ, TRV, LAZ Downgrade

UPGRADES:Fox-Pitt upgrades JPMorgan Chase (NYSE: JPM) from In-line to Outperform. Price target increased to $55 from $38. UBS upgrades PG&E Corp (NYSE: PCG) from Neutral to Buy.Citi upgrades Novellus (Nasdaq: NVLS) from Hold to Buy. Price target increased from $19.50 to $27. Barclays is upgrading Per Pharmaceuticals (NYSE: PRX) to Overweight from Equal Weight with a $30 target (prev. $18). Click Here for more color.For daily real-time Upgrades go to http://www.streetinsider.com/UpgradesDOWNGRADES:Citi downgrades BJ Services (NYSE: BJS) from Hold to Sell. Price target lowered from $16 to $1... Continue reading »

Notable Analyst Rating Changes 10/12: BNI, MA, V, BBW, AMD, KR, PCG Upgrade; SNDK, OXY, NOK, LMT, BIDU Downgrade

UPGRADES:Davenport upgrades Burlington Northern Santa Fe (NYSE: BNI) from Neutral to Buy. Credit Suisse upgrades MasterCard (NYSE: MA) and Visa (NYSE: V) from Neutral to Outperform.Shares of Build-A-Bear Workshop Inc. (NYSE: BBW) are surging after the company received a rare analyst upgrade today. Shares are up 17% currently on volume that is double normal already.UBS upgrades Advanced Micro Devices (NYSE: AMD) from Neutral to Buy and raised their price target from $4.50 to $7.50.J.P. Morgan upgrades Kroger (NYSE: KR) from Neutral to Overweight. Price target raises from $21 to $27. Jefferi... Continue reading »

Notable Analyst Rating Changes 10/12: BNI, ALU, KR, ALL, PCG Upgrade; SNDK, OXY, NOK, LMT, BIDU Downgrade

UPGRADES:Davenport upgrades Burlington Northern Santa Fe (NYSE: BNI) from Neutral to Buy. Societe Generale upgrades Alcatel-Lucent (NYSE: ALU) from Sell to Hold. J.P. Morgan upgrades Kroger (NYSE: KR) from Neutral to Overweight. Price target raises from $21 to $27. Atlantic Equities upgrades Allstate (NYSE: ALL) from Underweight to Neutral. Price target $34. Jefferies upgrades PG&E Corp (NYSE: PCG) from Hold to Buy. Price target increased from $43.50 to $46. For daily real-time Upgrades go to http://www.streetinsider.com/UpgradesDOWNGRADES:UBS downgrades SanDisk (Nasdaq: SNDK) from Neutral ... Continue reading »

Migration from Chamber of Commerce over climate change

Filed under: Apple Inc (AAPL), PG and E Corporation (PCG) Apple just bailed on the U.S. Chamber of Commerce, citing the business organization's view on climate change. The Chamber of Commerce doesn't accept the notion that people are the force behind global warming and has called for public hearings to question the evidence that many accept. But, this has led several companies to leave the group, with Apple (NASDAQ: AAPL) only the latest. <>The technology company stated through Catherine Novelli, a vice president of government affairs, that it would "prefer that the chamber take a more progress... Continue reading »

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