Update 2 (12:50 p.m.): Corrected first paragraph to read "Edison Mission Energy" instead of "EMCOR Group."
Update (9:45 a.m.): Updated with Thursday market open information and Jefferies quote.
"Edison International (EIX) resolved its dispute with Edison Mission Energy (EME) bondholders with a settlement agreement that would provide EIX with a net benefit of $200 million," Jefferies wrote in its research note. "This is slightly below the $250-$700 million range that we had estimated in our report published on January 28, 2014. Edison will not be entitled to a worthless tax deduction under the settlement since it will continue to own EME."
The stock was rising 0.42% to $50.91 shortly after the market opened on Thursday.
Must Read: YieldBoost EIX To 8.7% Using Options
Separately, TheStreet Ratings team rates EDISON INTERNATIONAL as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EDISON INTERNATIONAL (EIX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow."