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Stock Market & Financial Investment News

News Breaks
August 13, 2014
12:16 EDTFSLR, CSIQ, JASO, JKS, TSLCanadian 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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January 29, 2015
08:26 EDTCSIQSunEdison added to Top Picks list at FBR Capital
FBR Capital added SunEdison (SUNE) to its Top Picks list saying the stock price is underestimating the company's international growth, drop-downs into TerraForm Power and value creation potential of the Yield Co. FBR sees a path for the stock’s value to reach $40. The firm also believes the recent pullback in shares of Canadian Solar (CSIQ) is unjustified. It believes the recent decline in oil prices will not have a material impact on future solar and wind pipelines in the U.S.
07:25 EDTCSIQCanadian Solar provides update on solar project pipeline
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January 26, 2015
11:50 EDTJASO, FSLR, CSIQ, JKSSolar names rise after Obama pledges U.S. help for Indian solar push
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10:28 EDTCSIQ, JKS, JASO, FSLRIndia's Mahnidra to add 500 MW of solar energy, Reuters says
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06:48 EDTJASO, TSL, FSLR, CSIQTax credit, loan guarantee changes could hurt solar energy, NY Times says
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January 22, 2015
07:12 EDTCSIQCanadian Solar completes sale of Glenarm Solar Power Plant to Dutch fund
Canadian Solar has sold the 10 MW AC Glenarm solar power plant to an affiliate of DIF Infrastructure III. This solar power plant is valued at over $49M and utilizes Canadian Solar's CS6X photovoltaic modules. The project reached commercial operation in November 2014. The closing of this sale represents the first of four solar projects that will be acquired by DIF.
06:14 EDTTSLTrina Solar comments on ITC determination in antidumping duty investigation
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January 20, 2015
13:00 EDTCSIQCanadian Solar pullback a buying opportunity, says JPMorgan
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11:03 EDTFSLRStocks with call strike movement; FSLR NE
First Solar (FSLR) January call option implied volatility increased 5% to 48, Noble Corp. (NE) June 18 call option implied volatility increased 9% to 53 according to IVolatility.

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