10 Firms Drop on Bearish Statements, Disappointing Earnings

5. Edison International (EIX)

Edison International (EIX) saw its share prices fall for the sixth straight day as traders sold off positions amid the ongoing Los Angeles wildfire that resulted in dozens of deaths and billions worth of damages.

The company is currently under public scrutiny and is now facing multiple lawsuits over allegations that its equipment was the source of wildfires.

Edison over the weekend said that it was helping investigate the wildfire after discovering a downed conductor at a tower near the area where the Hurst Fire broke out on Tuesday evening.

Edison, however, said it was uncertain whether the damage occurred before or after the fire.

At present, Edison said some areas may continue to be de-energized in the coming weeks for public safety and to prevent any further wildfire conditions.