On Friday, Shares of PG&E Corporation (NYSE:PCG), lost - 3.33% to $51.93.
PG&E Corporation recently declared the appointment of Jason P. Wells as Senior Vice President and Chief Financial Officer, effective January 1, 2016.
Wells will succeed Kent Harvey, who is retiring in the first half of 2016 after 33 years with PG&E. To facilitate an effective transition, Wells will assume his new role on January 1, and Harvey will serve as Senior Vice President, Finance, for PG&E Corporation until his retirement.
“Jason is a proven leader in our organization. He has an exceptional understanding not only of finance but also of the company and the industry. He has been instrumental in working with the senior leaders of this company to implement and lead our integrated planning process as well as other key enterprise-wide initiatives. His new role will allow him to continue to assist position PG&E for a successful future,” said Tony Earley, PG&E Corporation chairman, CEO and president.
PG&E Corporation, through its partner, Pacific Gas and Electric Company, transmits, delivers, and sells electricity and natural gas to residential, commercial, industrial, and agricultural customers primarily in northern and central California. The company’s electricity distribution network comprises of 141,700 circuit miles of electric distribution lines, 55 transmission switching substations, and 603 distribution substations; and electricity transmission network comprises 18,100 circuit miles of interconnected transmission lines and 91 electric transmission substations.
Shares of Edison International (NYSE:EIX), declined -0.02% to $59.06, during its last trading session.
An average Southern California Edison residential customer’s bill would decrease about 6 percent by the end of March as a result of several actions by the California Public Utilities Commission, counting a vote on Thursday for funding SCE’s day-to-day operations.
The commission’s decision authorized recovery of costs reviewed in SCE’s General Rate Case, which comprises inspecting, repairing and replacing infrastructure that will make it easier to restore power after an emergency outage in the future. It also funds the people SCE employs, such as the workers who climb the poles to restore electric service in storms and answer customer service calls.
“Southern California Edison is working hard to keep rates reasonable for our customers while also making the necessary infrastructure improvements for the 21st century power network, and we were able to do that while requesting a rate decrease for our customers,” SCE President Pedro Pizarro said.
Edison International, through its auxiliaries, generates and supplies electricity. The company generates electricity through hydroelectric, diesel, natural gas, nuclear, and photovoltaic sources. It supplies electricity primarily to commercial, residential, agricultural and other, industrial, and public authorities through transmission and distribution networks.
Finally, Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), ended its last trade with 1.96% gain, and closed at $2.08.
Arena Pharmaceuticals, declared that it will host a conference call and webcast at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) on Tuesday, November 10, 2015, to discuss third quarter 2015 financial results and provide a corporate update. Arena will issue a press release with its financial results after the NASDAQ Global Select Market closes that day.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases.