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Stock Market & Financial Investment News

News Breaks
August 13, 2014
12:16 EDTCSIQ, JASO, JKS, TSL, FSLRCanadian Solar soars after results top estimates
Shares of solar power company Canadian Solar (CSIQ) are soaring after the company posted better than expected second quarter results. WHAT'S NEW: This morning, Canadian Solar reported Q2 earnings per share of 95c and revenue of $623.8M, easily beating consensus estimates of 58c and $577.65M, respectively. Q2 solar module shipments were 646 MW, compared to 500 MW in the first quarter and versus guidance in the range of 600 MW to 630 MW. Gross margin was 19.0%, compared to 14.7% in Q1, and versus guidance in the range of 17% to 19%. CEO Dr. Shawn Qu said, "Our second quarter shipments and revenue came in above the high end of our guidance led by strong module demand out of Japan, Germany, the UK and the US, as well as progress in the build-out of our utility-scale solar projects in Canada. Gross margin in the second quarter improved significantly to 19.0% compared to 14.7% in the first quarter of 2014, reflecting solid execution of our total solutions business strategy, as well as higher module ASP and shipment volume. We believe we remain one of the solar industry's best positioned companies given our diverse manufacturing footprint and advanced-stage project pipeline in Canada, Japan, the U.S., and China. We are making steady progress in key developing markets in Asia, the Middle East, Latin America and Africa, and we continue to see robust demand for our solar energy solutions products and services across all geographies and market segments." WHAT'S NOTABLE: Canadian Solar forecast Q3 revenue of $760M-$810M, versus consensus of $784.75M. Q3 gross margin was seen at 19%-21%, with module shipments of 720MW-750MW. ANALYST REACTION: This morning, research firm Northland said it was encouraged by Canadian Solar's Q2 report and expects backlog value to increase as lower cost of capital comes into the market. It said the company's module pricing and margin are holding up better than spot market data suggests, primarily due to its limited exposure to the China module market. The firm also said execution on its project business is improving and expects Street estimates to be revised higher. Northland had an Outperform rating on the shares. PRICE ACTION: In early afternoon trading, Canadian Solar rose $4.47, or about 18%, to $29.44 on nearly three times its average daily trading volume. Including today's advance, the stock is up approximately 150% over the past 12 months. OTHERS TO WATCH: Other companies in the solar space include: Trina Solar (TSL), JA Solar (JASO), First Solar (FSLR), and JinkoSolar (JKS), all of which are higher on the session.
News For CSIQ;TSL;JASO;FSLR;JKS From The Last 14 Days
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August 3, 2015
07:03 EDTJKSJinkoSolar signs loan agreement with Export-Import Bank of China
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July 30, 2015
14:15 EDTTSL, JASO, CSIQ, FSLRSharp to halt production of thin solar cells, Nikkei says
Sharp (SHCAY) plans to stop producing thin solar cells due to heightened price competition from Asian rivals, reports Nikkei. The publication notes that the company will use its Sakai thin solar cell plant to instead produce solar panels for residential use. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
07:24 EDTCSIQCanadian Solar to supply commercial inverters to California agricultural farms
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July 29, 2015
07:22 EDTFSLRFirst Solar pullback since June a buying opportunity, says JPMorgan
JPMorgan analyst Paul Coster views the 20% pullback in shares of First Solar since mid June as a buying opportunity. Coster keeps an Overweight rating on the stock ahead of the company's Q2 results. He looks for Firs Solar's FY15 guidance, which was suspended since the company announced its intentions to form a YieldCo, to be reinstated. The analyst has a $68 price target on shares.
July 28, 2015
07:11 EDTCSIQCanadian Solar signs $28.35M credit agreement with Rabobank Hong Kong
Canadian Solar announced that it has signed a JPY3.5B or $28.35M, credit facility agreement with Rabobank Hong Kong. The credit facility has a two-year maturity and will be used to finance the construction of an initial portfolio of up to 20 MWp of Canadian Solar's solar power plants in Japan.
07:10 EDTJKSJinkoSolar subsidiary signs RMB3B credit agreement with Ping An Bank
JinkoSolar Holding announced that JinkoSolar Power, a subsidiary of the Company, has signed a three-year RMB3B line of credit agreement with Ping An Bank, or PAB. PAB's financing will be used to support Jinko Power's PV project developments. According to the terms of the agreement, the line of credit is RMB3B for three years. The first loan of RMB630M has been withdrawn and will be used to support the development of PV solar power plant projects in Inner Mongolia, Guangdong province, and Zhejiang province.
July 27, 2015
17:07 EDTFSLRSunPower acquires 1.5 gigawatt U.S. solar power plant pipeline
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09:17 EDTCSIQCanadian Solar identified as top solar pick at Roth Capital
Roth Capital identifies Canadian solar as a top pick in the solar space, citing its leading position among peers this cycle in transforming its business model to focus on downstream and the company’s limited exposure to China. The firm keeps a Buy rating on the shares.
07:06 EDTCSIQCanadian Solar completes Grand Renewable Solar Project
Canadian Solar announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., reached substantial completion on its 100 MW AC utility-scale Grand Renewable Solar Project. This project, located in the county of Haldimand, consists of approximately 445,000 CS6X MaxPower high-performance Ontario-made modules, and carries the proud distinction of being the largest operational solar farm in the nation.
July 24, 2015
11:01 EDTFSLR, JASO, CSIQ, TSLSolarCity rises after analyst says second half outlook strong
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July 21, 2015
07:16 EDTCSIQCanadian Solar announces construction, financing loan from Manulife
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