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Stock Market & Financial Investment News

News Breaks
August 13, 2014
12:16 EDTJKS, TSL, FSLR, CSIQ, JASOCanadian 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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May 21, 2015
07:25 EDTTSLTrina Solar sees FY15 total shipment volume up 20%-26% YoY
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07:23 EDTTSLTrina Solar sees Q2 shipments 1,100 MW-1,140 MW
Of the Q2 shipment outlook, 150 MW to 170 MW of PV modules will be shipped to the company's downstream PV projects, revenues of which will not be recognized. The company expects to connect 65 MW-70 MW of PV projects to the grid in Q2.
07:22 EDTTSLTrina Solar reports Q1 EPS 16c, consensus 9c
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06:59 EDTJASOJA Solar downgraded to Neutral from Buy at Roth Capital
Roth Capital said JA Solar has successfully transformed into a module manufacturer from a pure cell vendor over the past few years, but has lagged behind peers this cycle in downstream efforts as highlighted by lowered annual project development guidance. As a result, Roth downgraded shares to Neutral and lowered its price target to $9 until JA Solar can successfully execute on a plan to differentiate itself.
May 20, 2015
15:00 EDTTSLNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar Tree (DLTR), consensus 75c... Best Buy (BBY), consensus 29c... Advance Auto Parts (AAP), consensus $2.48... Patterson Companies (PDCO), consensus 65c... Donaldson Company (DCI), consensus 35c... Booz Allen Hamilton Holding (BAH), consensus 33c... The Buckle (BKE), consensus 78c... Monro Muffler Brake (MNRO), consensus 39c... Brady Corp. (BRC), consensus 37c... Trina Solar (TSL), consensus 9c... Quality Systems (QSII), consensus 15c... Kirkland's (KIRK), consensus 11c... Bon-Ton Stores (BONT), consensus ($1.56).
May 19, 2015
09:30 EDTJASOJA Solar downgraded to Underperform from Peer Perform at Wolfe Research
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08:52 EDTCSIQConcerns over Canadian Solar 'just near-term noise' says Roth Capital
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08:43 EDTJASOJA Solar poised to benefit from strong solar ramp in 2H15, says RBC Capital
After JA Solar reported lower than expected Q1 shipments and the stock fell, RBC Capital says that JA Solar is well-positioned to benefit from an expected ramp in solar power demand in 2H15. The firm keeps a $13 price target and Outperform rating on the shares.
May 18, 2015
07:17 EDTJASOJA Solar sees FY15 shipments 3.6 GW-4 GW
07:17 EDTJASOJA Solar sees Q2 shipments 680 MW-720 MW
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07:16 EDTJASOJA Solar reports Q1 EPS 13c, consensus 6c
Reports Q1 revenue $387.7M, consensus $410.14M.
07:08 EDTJKSJinkoSolar to supply 50 MW of solar panels to Tegnatia for projects in Turkey
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07:02 EDTCSIQCanadian Solar receives $44.4M non-recourse construction loan
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07:01 EDTJKSJinkoSolar to supply 50MW of solar panels to Tegnatia
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05:13 EDTCSIQCanadian Solar to host investor day
Investor Day to be held in New York on May 18 at 9 am. Webcast Link
May 15, 2015
06:59 EDTJASOJA Solar volatility flat into Q1 and outlook
JA Solar June call option implied volatility is at 46, September is at 49; compared to its 90-average of 48, suggesting non-directional price movement in to the expected release of Q1 results on May 18.
May 13, 2015
07:04 EDTJKSJinkoSolar signs 1 GW framework supply agreement with China Minsheng New Energy
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May 12, 2015
13:36 EDTJKSJinkoSolar may spin off yieldco in 2015, DigiTimes says
Chinese solar energy company JinkoSolar may spin off a yieldco this year in roder to raise funds, according to DigiTimes, which cited reports in Chinese media. Yieldcos own power generating assets and produce steady income, the website quoted the reports as saying. Reference Link
May 11, 2015
11:37 EDTTSL, JKS, CSIQ, JASOApple expanding renewable energy projects in China
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07:20 EDTTSL, JKS, CSIQDeutsche Bank to hold a conference
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