Stock Market Today, Oct. 9: PG&E Gains on Earnings Call Anticipation Before October 22 Update
PG&E (NYSE:PCG), a California regulated utility providing electricity and natural gas service, closed at $13.13, up 3.63%. Investors are watching its upcoming earnings call and wildfire-liability commentary after a quiet session for company-specific news.
Trading volume reached 47.5 million shares, coming in about 28% above its three-month average of 36.9 million shares.
How the markets moved today
The S&P 500 (SNPINDEX: ^GSPC) closed at 7,811, up 0.59%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) ended at 27,366, up 0.64%. Among regulated electric and natural gas utilities, Edison International (NYSE:EIX) closed at $55.30, up 1.84%, while Duke Energy (NYSE:DUK) finished at $116.65, down 0.15%, giving PG&E a stronger day than one sector rival and a cleaner showing than another.
What this means for investors
While PG&E shares gained on Oct. 9, the stock is down about 17% over the past year due to massive wildfires in the Los Angeles area in 2025 that appears to have been caused by power equipment owned by rival Edison. Even though PG&E does not operate in the Southern California region, the wildfire liability has scared off Wall Street investors. As a resident of Los Angeles, I had to evacuate due to these fires, so I have seen the damage and liability risks first hand.
Moreover, the California state legislature delayed action on wildfire liability protection for utilities this year, creating another hit to PG&E stock. As a result, in early September, PG&E said it would defer about $2 billion of planned 2027 investment after these wildfire-reform efforts stalled, highlighting a slower capital-spending outlook.
Even so, PG&E is poised to benefit from the massive demand for electricity as a result of the artificial intelligence boom. California is home to the third-most data centers in the U.S., and to some of the biggest tech companies behind the AI sector's growth.
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Robert Izquierdo has positions in Edison International. The Motley Fool recommends Duke Energy. The Motley Fool has a disclosure policy.
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