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Edison -10% as out of control southern California fire spreads quickly

Published 12/05/2017, 10:11 AM
© Reuters.  Edison -10% as out of control southern California fire spreads quickly
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  • Edison International (EIX -10.5%) plunges ~10% in early trading as a California brush fire leaves 180K customers in Ventura County and another 83K in the Santa Barbara area without power.
  • Named the Thomas Fire, it began in a canyon near Santa Paula, about 65 miles northwest of downtown Los Angeles, and spread from 50 acres to ~31K acres in a matter of hours, forcing thousands of residents to flee.
  • “The prospects for containment are not good,” says the Ventura County fire chief.
  • PG&E (PCG -1.3%), which suffered from the recent string of fires in the northern part of the state, also trades lower.
  • Now read: Still Unabashedly Bullish On Roku (Jonathan Cooper Portfolio Update 2)


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