PG&E shares fall after deadly explosion

pge chart.pngClick chart for more of today's market action. By Blake Ellis, staff reporter


NEW YORK (CNNMoney.com) -- Shares of Pacific Gas & Electric tumbled 6% Friday after a gas pipeline in California exploded and erupted into flames.

The blast occurred in San Bruno, near San Francisco, after a gas transmission line owned by PG&E (PCG, Fortune 500) ruptured. But the cause of the rupture is still being investigated.

The explosion, which took place late Thursday, killed four people and sparked a fire that has destroyed dozens of homes.

Shares of the utility company dropped $2.91, or 6%, to $45.34 in afternoon trading Friday.

CNNWires contributed to this report.  To top of page

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Index Last Change % Change
Dow 15,354.40 121.18 0.80%
Nasdaq 3,498.97 33.73 0.97%
S&P 500 1,667.47 17.00 1.03%
Treasuries 1.95 0.08 4.50%
Data as of 6:36pm ET
Company Price Change % Change
Bank of America Corp... 13.43 0.07 0.52%
Cisco Systems Inc 24.24 3.03 14.29%
Microsoft Corp 34.87 0.79 2.32%
Ford Motor Co 15.08 0.44 3.01%
General Electric Co 23.46 0.19 0.82%
Data as of May 17
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