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FILE - In this Feb. 11, 2020, file photo a Pacific Gas & Electric truck leaves the company's Oakland Service Center in Oakland, Calif. Pacific Gas and Electric said Tuesday, Feb. 18, that it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. (AP Photo/Ben Margot, File)

PG&E banking on big profits after utility leaves bankruptcy

Feb. 18, 2020 4:33 PM EST

Pacific Gas and Electric says it expects to become more profitable than ever after it emerges from bankruptcy and pays off more than $25 billion in losses sustained in catastrophic wildfires ignited by its outdated equipment. The nation's largest utility shared its rosy outlook on Tuesday, along with its sobering...

Traders Timothy Nick, left, and Peter Tuchman work on the floor of the New York Stock Exchange, Tuesday, Feb. 18, 2020. Stocks are opening lower on Wall Street after Apple said it would fail to meet its revenue forecast for the current quarter due to the impact of the virus outbreak in China. (AP Photo/Richard Drew)

Stocks fall on Apple revenue warning; Dow drops 165

Feb. 18, 2020 4:14 PM EST

Major U.S. stock indexes are closing mostly lower Tuesday, as the market gives up some of its gains from the past two weeks. The selling, which lost some of its momentum in the final hour of trading, came as investors weighed the impact of the virus outbreak in China on Apple and other major companies. Tech...

Traders gather at the post of Specialist Anthony Matesic, background center, on the floor of the New York Stock Exchange, Tuesday, Feb. 18, 2020. Stocks are opening lower on Wall Street after Apple said it would fail to meet its revenue forecast for the current quarter due to the impact of the virus outbreak in China. (AP Photo/Richard Drew)

Franklin Resources buying Legg Mason for $4.5 billion

Feb. 18, 2020 11:15 AM EST

SAN MATEO, Calif. (AP) — Franklin Resources is buyingrival investment managerLegg Mason for $4.5 billion, the latest shakeup in an industry grappling with customers who continue to clamor for lower fees. Franklin Resources Inc., which operates as Franklin Templeton, said Tuesday that it will pay $50in cash...

People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Feb. 18, 2020. Shares have fallen in Asia as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to cancel major events including the Beijing auto show. (AP Photo/Eugene Hoshiko)

Shares take hit as virus outbreak slams profits, events

Feb. 18, 2020 7:08 AM EST

BANGKOK (AP) — Stock markets slipped Tuesday as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target this quarter and China moving to postpone or cancel major events, including the Beijing auto show. Britain's FTSE 100 dropped 1% to...

People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Feb. 18, 2020. Shares have fallen in Asia as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to cancel major events including the Beijing auto show. (AP Photo/Eugene Hoshiko)

Shares fall in Asia as virus outbreak hits profits, events

Feb. 18, 2020 1:56 AM EST

BANGKOK (AP) — Shares slipped in Asia on Tuesday as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to postpone or cancel major events including the Beijing auto show. Signs suggest China may postpone its annual...

Trader Ronald Madarasz works on the floor of the New York Stock Exchange, Friday, Feb. 14, 2020. U.S. stocks wobbled between small gains and losses in early trading Friday as investors focused on another round of mostly solid corporate earnings. (AP Photo/Richard Drew)

US stocks post small gains, major indexes up for the week

Feb. 14, 2020 5:13 PM EST

Wall Street closed out a wobbly day of trading Friday with the major stock indexes notching their second straight weekly gain. The S&P 500 and Nasdaq eked out tiny gains, good enough to nudge each to an all-time high for the fourth time this week. The Dow Jones Industrial Average ended with a slight loss....

A worker wearing a protective suit reacts in front of an infrared temperature machine in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. Asian shares mostly fell Friday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide. (AP Photo)

Global shares steady but virus concerns keep buying in check

Feb. 14, 2020 8:07 AM EST

LONDON (AP) — Global shares recovered their poise Friday though continuing concerns about the economic impact of the virus outbreak that began in China kept market gains in check. On Thursday, concerns related to the outbreak accentuated when new figures showed a sharp increases in the number of cases and...

FILE - In this Feb. 2, 2020 file photograph, the company logo sits on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo. Shares of Tesla Inc. fell 4% in early trading Thursday, Feb. 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The move comes just two weeks after CEO Elon Musk said the company had enough cash to fund its capital programs and it didn't need to raise any more money. (AP Photo/David Zalubowski, File)

Tesla prices its second offering of stock at $767 apiece

Feb. 14, 2020 7:41 AM EST

PALO ALTO, Calif. (AP) — Tesla priced its second offering of stock at $767 apiece Friday. An announcement Thursday that Tesla would put an additional $2 billion worth of stock on the market surprised almost everyone. Just two weeks ago, CEO Elon Musk said the company had enough cash to fund its capital...

A man wearing a face mask walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Friday, Feb. 14, 2020. Asian shares mostly fell Friday as investors turned cautious following a surge in cases of a new virus in China that threatens to crimp economic growth and hurt businesses worldwide. (AP Photo/Vincent Yu)

Asian stocks rebound from early losses as virus toll grows

Feb. 14, 2020 12:31 AM EST

Shares rebounded in Asia on Friday after an early sell-off, though Japan's benchmark declined as investors reacted to news of a growing number of cases of a new virus among the local population. The Nikkei 225 fell 0.6% in morning trading to 23,683.44. Australia's S&P/ASX 200 gained 0.4% to 7,134.70. South...

FILE - In this Feb. 2, 2020 file photograph, the company logo sits on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo. Shares of Tesla Inc. fell 4% in early trading Thursday, Feb. 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The move comes just two weeks after CEO Elon Musk said the company had enough cash to fund its capital programs and it didn't need to raise any more money. (AP Photo/David Zalubowski, File)

Tesla offers $2B in added shares, discloses SEC subpoena

Feb. 13, 2020 12:49 PM EST

DETROIT (AP) — Tesla said that is selling $2 billion worth of additional stock, that its U.S. revenue fell last year and that securities regulators are scrutinizing its finances. All of the developments Thursday were disclosed in filings with U.S. Securities and Exchange Commission, which in December...