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Last $59.08 USD
Change Today 0.00 / 0.00%
Volume 0.0
EIX On Other Exchanges
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Exchange
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As of 8:04 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

edison international (EIX) Key Developments

Michael Carracela Files Lawsuit against Shimmick Construction Co., FCC Construction, Parsons Brinckheroffer, Genie Industries Inc. and Southern California Edison

A former amateur boxer sued contractors involved with the Gerald Desmond Bridge replacement project on which he worked, saying he suffered severe injuries when he came in contact with an arc from a high-voltage overhead power line. Michael Carracela, who says he was once a sparring partner for boxer Floyd Mayweather, filed the negligence lawsuit in Los Angeles Superior Court, seeking unspecified damages. The defendants include Shimmick Construction Co., FCC Construction and Parsons Brinckheroffer, as well as Genie Industries Inc. and Southern California Edison. A Shimmick representative could not be immediately reached. According to the lawsuit, in July 2013 Carracela was assigned to work on demolition and cleanup work at the project site and was tasked with clearing concrete pieces from a roadway that was scheduled to be re-opened for weekend traffic. While in a Genie boom lift that was 30 feet off the ground, Carracela was hit by the electrical arc while the lift was being maneuvered by the device's operator, according to his lawsuit.

Edison International and Southern California Edison Company Enter into Amended and Restated Credit Agreements

On July 14, 2015, each of Edison International and Southern California Edison Company entered into Amended and Restated Credit Agreements. The EIX Agreement provides for a $1.25 billion revolving credit facility. The SCE Agreement provides for a $2.75 billion revolving credit facility. The Agreements implement several technical amendments and extend the termination date of each facility to July 18, 2020.

Bernstein Liebhard LLP Files Class Action against Edison International

Bernstein Liebhard LLP announced that a class action has been commenced in the United States District Court for the Southern District of California on behalf of purchasers of Edison International securities between July 31, 2014 and June 24, 2015 alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers. The Complaint alleges that during the Class Period, Edison made materially false and misleading statements regarding the company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: Edison's ex parte contacts with CPUC decision makers were more extensive than the company had reported to CPUC; that belated disclosure of Edison's ex parte contacts with CPUC personnel would jeopardize the company's $3.3 billion SONGS settlement; and as a result of the above, the company's financial statements were materially false and misleading at all relevant times. On May 4, 2015, a SFGate article reported that SCE documents revealed a previously unreported May 2014 meeting between CPUC and SCE executives, at which the parties discussed donating millions of dollars to a UCLA institute where a CPUC executive was an advisor.

Edison International expected to report Q2 2015 results on July 30, 2015. This event was calculated by Capital IQ (Created on July 7, 2015).

Edison International expected to report Q2 2015 results on July 30, 2015. This event was calculated by Capital IQ (Created on July 7, 2015).

Edison International, Q2 2015 Earnings Call, Jul 30, 2015

Edison International, Q2 2015 Earnings Call, Jul 30, 2015

 

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Industry Analysis

EIX

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Valuation EIX Industry Range
Price/Earnings 12.7x
Price/Sales 1.5x
Price/Book 1.7x
Price/Cash Flow 5.5x
TEV/Sales 0.3x
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