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May 3, 2015
15:55 EDTTSLAEdison partners with Tesla, Cinemark on battery storage projects
Edison International (EIX) announced Friday that it has established commercial agreements with Tesla (TSLA). Southern California Edison, the regulated utility subsidiary of Edison, and SoCore Energy, an Edison subsidiary that provides rooftop solar systems, are implementing energy storage projects that feature Tesla Powerpacks. SCE is working with Tesla on two demonstration projects that will test communication capabilities and explore rebates to customers who allow SCE to manage their battery charging in order to increase the use of renewable energy while ensuring continued grid reliability. The first demonstration project targets homeowners who have solar panels already installed with battery storage capability. The second demonstration project focuses on commercial and industrial customers who require a larger energy storage capacity. These two projects are expected to be operational in 2015. Separately, SoCore Energy is working with Cinemark Holdings (CNK) to design and install Tesla batteries at two of their theatre properties in Southern California. Cinemark and SoCore Energy are also looking at additional locations for potential battery installations.
May 1, 2015
16:31 EDTAAPL, TSLAMarket ends week lower as Apple, Twitter pull back after earnings
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16:19 EDTF, GMOn The Fly: Top stock stories for Friday
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16:02 EDTTSLA, AAPLOn The Fly: Morning Wrap-Up for May 1
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14:31 EDTFFord expands door latch safety recall in North America
Ford Motor is expanding a safety recall regarding door latches to include approximately 156,000 more vehicles at the request of the National Highway Traffic Safety Administration, bringing the total to 545,906 vehicles in North America. The door latch in certain vehicles may experience a broken pawl spring tab, which typically results in a condition where the door will not latch. If a customer is then able to latch the door, there is a potential the door may unlatch while driving, increasing the risk of injury. Ford is aware of a total two allegations of soreness resulting from an unlatched door bouncing back when the customer attempted to close it, and one accident allegation when an unlatched door swung open and struck the adjacent vehicle as the driver was pulling into a parking space. Affected vehicles include certain Fiesta, Fusion and Lincoln MKZ vehicles.
14:23 EDTHMCHonda reports April U.S. sales down 1.8% to 130,068 units
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14:05 EDTHMCHonda reports April U.S. sales down 1.8%, Bloomberg says
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13:25 EDTTSLATesla, Sunrun collaborate on consumer home energy storage
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11:46 EDTAAPLMorningstar launches market-monitoring app for Apple Watch
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10:48 EDTTMToyota reports April U.S. sales up 1.8% to 203,329 units
Toyota, Scion and Lexus reported total April U.S. sales results of 203,329 units, an increase of 1.8% from April 2014 on a volume basis.
10:41 EDTTSLAGoldman says SolarEdge, SolarCity to benefit from new Tesla batteries
SolarEdge (SEDG) and SolarCity (SCTY) will both benefit from the launch of Tesla's (TSLA) new battery products, according to Goldman Sachs. SolarEdge develops solar power harvesting and photovoltaic monitoring solutions, including inverters, while SolarCity sells solar energy systems to businesses and consumers. BACKGROUND: Tesla last night introduced Powerwall, a suite of batteries for homes, businesses, and utilities The batteries will enable its users to store sustainable and renewable energy, to manage power demand, and provide backup power, the company stated. As a result, users of the product will be able to avoid paying peak power rates to utilities and have greater energy security, Tesla said. The company identified SolarEdge and SolarCity as its partners in the venture. ANALYST REACTION: In a note to investors earlier today, Goldman Sachs analyst Brian Lee wrote that SolarEdge was not expected to be named as a partner in the Powerwall venture. Tesla's decision to partner with SolarEdge appears to be a "significant endorsement" of the latter company's technology, according to Lee. The deal should enable SolarEdge's volumes to beat expectations as early as the second half of this year, the analyst stated. As for SolarCity, the company's sales volumes may rise 20%-40% because it will be able to sell Powerwall along with its current solar energy systems, the analyst estimated. Lee kept Buy ratings on SolarCity and SolarEdge. WHAT'S NOTABLE: Powerwall is much cheaper than expected, according to Lee. The batteries had been expected to sell for $10,000-$15,000, but the 7kWh version will cost just $3,000 ,the analyst stated. As a result, in a number of states, including California, New York, and Hawaii, the product is economically viable for residential as well as commercial solar customers, Lee believes. Meanwhile, Tesla's announcement is negative for Enphase (ENPH), which develops microinverter systems for solar energy,since it was not chosen as a Powerwall partner, according to Lee, who kept a Sell rating on Enphase. PRICE ACTION: In early trading, SolarEdge rose 8% to $27.11, SolarCtiy gained 1.4% to $60.86, Enphase was flat at $12.55, and Tesla was down fractionally to $225 per share.
10:04 EDTNSANYNissan reports April U.S. sales 109,848 units, up 5.7% y/y
09:39 EDTGMGeneral Motors reports truck sales up 13% in April
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09:35 EDTTSLA, AAPLActive equity options trading on open
Active equity options trading on open: AAPL FB LNKD ALTR GILD TSLA BAC TWTR MSFT FEYE BIDU
09:33 EDTGMGeneral Motors estimates April industry SAAR 16.7M units
GM estimates that the U.S. seasonally adjusted annual selling rate, or SAAR, for light vehicles in April was 16.7M units.
09:31 EDTGMGeneral Motors reports April U.S. sales up 5.9% to 269,056 vehicles
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09:16 EDTFFord says customer demand 'strong' for new vehicles
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09:16 EDTFFord reports April U.S. sales up 5% to 222,498 vehicles
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09:15 EDTFFord reports U.S. sales up 5% in April
09:12 EDTTSLAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ocwen Financial (OCN), up 13.7%... Century Aluminum (CENX), Expedia (EXPE), up 6.1%... FireEye (FEYE), up 5.6%... Agnico Eagle Mines (AEM), up 3%... Gilead Sciences (GILD), up 2.9%... CVS Health (CVS), up 1.4%. ALSO HIGHER: EnerNOC (ENOC), up 26.5% after announcing collaboration with Tesla (TSLA)... Tesla up 1.2% after announcing Tesla Energy and partnerships... Cyberark (CYBR), up 2.9% after FireEye reported quarterly results... Cyberark (CY), up 2.5% after being upgraded to Strong Buy from Buy at Needham. DOWN AFTER EARNINGS: LinkedIn (LNKD), down 19.2%... Pixelworks (PXLW), down 7.5%... Cooper Tire (CTB), down 6.2%... JDS Uniphase (JDSU), down 3.2%... First Solar (FSLR), down 2.4%. ALSO LOWER: Tetralogic (TLOG), down 10.3% after 6.25M share Spot Secondary priced at $4.00.
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