Latest news with #WildfireFund
Yahoo
20-05-2025
- Business
- Yahoo
Tragic Wildfires in Southern California Affected Edison International (EIX) in Q1
ClearBridge Investments, an investment management company, released its 'ClearBridge Large Cap Value Strategy' first quarter 2025 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index declined by -4.3% in Q1 2025 due to a tariff war and a shift away from AI-related tech stocks. Amid the tech-led sell-off, the benchmark, the Russell 1000 Value Index, outperformed its growth counterpart in the quarter. Against this backdrop, the strategy underperformed the benchmark in Q1. In addition, please check the fund's top five holdings to know its best picks in 2025. In its first-quarter 2025 investor letter, ClearBridge Large Cap Value Strategy highlighted stocks such as Edison International (NYSE:EIX). Edison International (NYSE:EIX) engages in the generation and distribution of electric power. The one-month return of Edison International (NYSE:EIX) was 0.31%, and its shares lost 24.45% of their value over the last 52 weeks. On May 19, 2025, Edison International (NYSE:EIX) stock closed at $58.00 per share with a market capitalization of $22.316 billion. ClearBridge Large Cap Value Strategy stated the following regarding Edison International (NYSE:EIX) in its Q1 2025 investor letter: "One area where we've increased exposure in recent years is the utilities sector, where the combination of rising electricity demand, highly stable cash flows and attractive valuations has made the space overlooked relative to higher-flying AI plays. While utilities typically perform well in volatile markets, our holdings in Edison International (NYSE:EIX) and Sempra were negatively impacted by the tragic wildfires in Southern California, which caused billions of dollars in damages. In particular, Edison materially de-rated on concerns about future liabilities, as one of the fires overlapped with its service footprint. However, we remain confident that California's Wildfire Fund and protective legislation will be sufficient to mitigate long-term financial impacts. While this negatively affects near-term earnings, we believe the decision is right for the long term. We maintained positions in both companies, as we believe their valuations have been overly discounted for businesses with defensive characteristics and high-single-digit earnings growth." A wide aerial view of an electric power transmission facility with lines, substations, and overhead wires. Edison International (NYSE:EIX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Edison International (NYSE:EIX) at the end of the fourth quarter, compared to 29 in the third quarter. While we acknowledge the potential of Edison International (NYSE:EIX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the undervalued AI stock set for massive gains. In another article, we covered Edison International (NYSE:EIX) and shared the list of best dividend stocks with high yields. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-02-2025
- Entertainment
- Yahoo
Tenacious D to release cover of REO Speedwagon's Keep On Loving You
When you buy through links on our articles, Future and its syndication partners may earn a commission. Tenacious D have announced their first new music since going on hiatus in 2024. The comedy rock duo of Jack Black and Kyle Gass will appear on a new compilation album benefiting victims of the recent Los Angeles wildfires, contributing a cover of REO Speedwagon's Keep On Loving You. The album, Good Music To Lift Los Angeles, is also set to feature previously-unreleased recordings from Death Cab For Cutie, Chelsea Wolfe, King Gizzard And The Lizard Wizard, R.E.M., Health, The Armed and others. It will be available on the Bandcamp page of record label Good Music for 24 hours from 12:01am Pacific time on Friday, February 7. Proceeds will go to the L.A. Regional Food Bank and California Community Foundation's Wildfire Fund. Keep On Loving You will be the second Tenacious D cover to come out in the last 12 months, following their rendition of Britney Spears' …Baby One More Time, which appeared on the soundtrack to Black's film Kung Fu Panda 4. The band also released an original track, Video Games, in 2023 and seemed to be gearing up for a new album. However, all of their plans, including all announced tour dates, were cancelled in July, after Gass told a joke onstage about the assassination attempt against then-former US president Donald Trump the previous day. Gass made the seemingly off-the-cuff comment during the Sydney stop of Tenacious D's Australia and New Zealand tour. When Black presented his bandmate with a cake for his 64th birthday and told him to make a wish, he said into his microphone, 'Don't miss Trump next time.' In response to Gass's quip, Australian senator Ralph Babet called for Tenacious D to be deported from the country. Black issued a statement on Instagram, saying he was 'blindsided' by Gass' comment and putting the band on ice. Gass later issued a now-deleted written apology. In August, Black offered an update on the status of Tenacious D to Variety. He confirmed the band will return later down the line and that he and Gass remain friends, but that they 'need to take a break'. It's unclear when Tenacious D recorded their new cover, but they have played it multiple times live over the years. Watch one performance below. Good Music To Lift Los Angeles won't be the only wildfire charity benefit album to drop this week. Another compilation – Los Angeles Rising, featuring Nick Cave, PJ Harvey, Pulp frontman Jarvis Cocker and others – is now available to download via Bandcamp.
