Premise: Shares of power producers ticked down as traders rotated into more economically sensitive areas. Shares of PG&E recouped some of their recent losses, amid hopes that investment firm BlueMountain Capital Management would prevail in its efforts to dissuade the owner of Pacific Gas & Electric from filing for bankruptcy protection. -Rob Curran, rob.curran@dowjones.com
Hypothesis: Pacific Gas & Electric had posted disappointing losses for the last three quarters.