Chevron Surges on Profit Boost, PG&E Drops Amid Renewable Energy Plans

Shares of Chevron and PG&E are making significant moves in premarket trading. Chevron's stock price has risen by over 3% after the company reported a profit increase due to higher oil prices. The company's net income rose to $7.45 per share, exceeding analyst expectations.

In contrast, PG&E's shares have dropped by around 4%, despite the utility company announcing plans to sell up to 200 MW of renewable energy from its solar and wind farms. The sale is part of the company's effort to meet California's renewable portfolio standard.