Pacific Gas & Electric Corp. (PCG) - Get Report filed for Chapter 11 bankruptcy protection Tuesday as the California utility seeks to manage liabilities related to the state's deadly wildfires that could reach as high as $30 billion.
TheStreet's Martin Baccardax reported on the bankruptcy.
PG&E, which owns the biggest power utility in the United States, filed the request in the U.S. Bankruptcy Court for the Northern District of California and is also seeking $5.5 billion in so-called 'debtor-in-possession' financing to fund its ongoing operations and safety initiatives.
An Update on Cramer's Favorite Dog
Cramer broke down his reaction to Nvidia's guidance cut in his Real Money column.
I found myself flummoxed yesterday when Nvidia (NVDA) - Get Report the huge graphics chip maker, long a loved stock, wasn't down as much as it could have been given 1) its huge miss -- and it was huge, one of the biggest I have seen in ages; 2) its bizarrely bad forecast guide-down, as nasty as they come; and 3) whole new areas of weakness -- like the once-red-hot gaming biz and the smoking data center, and not just a crypto mining card shortfall, which was the culprit in its last earnings report.
Curious about what else Cramer is thinking about after Nvidia? Read his full column here.
What to Expect From Apple
It's expected to report earnings after the bell Tuesday evening. With Apple having forecast on Jan. 2 that it expects December quarter revenue of about $84 billion, the analyst consensus is currently for revenue of $83.97 billion (down 5% annually). GAAP EPS, benefiting from major stock buybacks, is still expected by analysts to have grown 7% to $4.17.
TheStreet's Eric Jhonsa wrote about what he expects from the earnings.