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News Breaks
March 4, 2014
09:07 EDTCSIQCanadian Solar price target raised to $51 from $40 at Northland Securities
Northland raised Canadian Solar's price target to $51 from $40 ahead of tomorrow's report and the recent pre-announcment. The firm's checks suggest strong demand, cost declines, and increased volume assumptions. Shares are Outperform rated.
News For CSIQ From The Last 14 Days
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March 6, 2015
16:32 EDTCSIQStocks finish week lower as U.S. job market heats up, China cuts growth target
Stocks finished the week lower after the U.S. reported that the economy had created more jobs than expected last month, leading to speculation that the Fed will raise interest rates sooner than later. Also, China's government estimated that its economic growth would slow this year. MACRO NEWS: U.S. nonfarm payrolls rose 295,000 in February, easily topping expectations for the addition of 235,000 jobs. The news led to speculation that the Fed would raise interest rates sooner rather than later and helped trigger a sharp decline in stocks in the last trading day of the week... U.S. economic data other than the jobs report was mixed, as personal income for January and weekly jobless claims were worse than expected, but a services sector index for February and a manufacturing index for February surpassed expectations... China said it expects its economy to grow "about 7%" this year, versus last year's 7.4% growth. The 7% target is the country's lowest in more than a decade. COMPANY NEWS: Apple (AAPL) will replace AT&T (T) in the Dow Jones Industrial Average after the close of trading on Wednesday, March 18, S&P Dow Jones Indices announced... On the M&A front, AbbVie (ABBV) agreed to buy hematologic cancer drug maker Pharmacyclics (PCYC) for $261.25 per share, or $21B. A number of analysts wrote that AbbVie paid too high of a price, since AbbVie shares profits on its flagship drug, Imbruvica, equally with Johnson & Johnson (JNJ). Media reports hours prior to the deal was announced said J&J was close to buying its partner... NXP Semiconductors (NXPI) and Freescale (FSL) advanced after the two companies agreed to merge in a deal which values the combined enterprise at just over $40B. After the deal closes, Freescale shareholders will own approximately 32% of the combined company... Cardinal Health (CAH) announced plans to acquire Johnson & Johnson's cardiology and endovascular device business for $1.94B in cash and Boston Scientific (BSX) struck a deal to buy the American Medical Systems' urology portfolio from Endo International (ENDP) for up to $1.65B... During an investor meeting, Target (TGT) announced that it would reduce its expenses by $2B over the next two years, provided in-line fiscal 2015 EPS guidance, and estimated that its EPS would grow at an annual rate of 10% during 2016 and beyond... All 31 banks examined by the Federal Reserve passed their annual Dodd-Frank stress test, which measures how the banks would fare in a "severely adverse" macroeconomic scenario... Orexigen (OREX) rallied after the company disclosed that its weight loss drug, Contrave, demonstrated a statistically significant benefit over placebo for cardiovascular events... The FDA approved the use of Bristol-Myers' (BMY) Opdivo drug as a treatment for a specific type of lung cancer... Chinese solar stocks jumped after Canadian Solar (CSIQ) announced that it was pursuing plans to launch a yieldco. A yieldco is a publicly traded company that owns energy assets and pays dividends that are taxed at low rates. INDEXES: For the week, the Dow fell 1.53% to 17,856.78, the Nasdaq dropped 0.73% to 4,927.37, and the S&P 500 declined 1.57% to 2,071.26.
10:00 EDTCSIQOn The Fly: Analyst Upgrade Summary
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09:42 EDTCSIQCanadian Solar downgraded to Hold from Buy at Standpoint Research
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08:56 EDTCSIQCanadian Solar upgraded to Conviction Buy from Neutral at Goldman
Goldman upgraded Canadian Solar to Conviction Buy from Neutral and raised its price target to $56.60 from $30 based on value accretion from the potential YieldCo spin-off plan. The firm believes the transformation to an own/operate model from a build/flip model will enable Canadian Solar to generate long-term predictable cash-flow and earnings, with the creation of a YieldCo unlocking shareholder value and helping to secure low-cost funding.
March 5, 2015
10:16 EDTCSIQCanadian Solar rises on proposed YieldCo vehicle formation
The stock was last up over 7.5% to $32.43, below the session high at $32.94 which is now resistance. Support is at the session opening price at $31.60.
09:36 EDTCSIQActive equity options trading on open
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09:20 EDTCSIQOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Pacific Ethanol (PEIX), up 11.7%... Vivint Solar (VSLR), up 9%... Canadian Solar (CSIQ), up 2.6%... Costco (COST), up 2.4% after reporting quarterly results and February Same Store Sales. ALSO HIGHER: Second Sight (EYES), up 19.1% following implants of Argus II system at two new centers... Celladon (CLDN), up 13.4% after being initiated with a Buy at Roth Capital. NOTEABLE: Pharmacyclics (PCYC), up 1.27% after being acquired by AbbVie (ABBV). Abbvie is down 5.2%. DOWN AFTER EARNINGS: Joy Global (JOY), down 6.7%... Momo (MOMO), down 4.4%. ALSO LOWER: DragonWave (DRWI), down 10.1% after providing fourth quarter and fiscal 2015 revenue guidance... Apollo Commercial (ARI), down 4.2% after 10M share Spot Secondary priced at $17.00... Antero Resources (AR), down 1.9% after filing to sell 11.5M shares of common stock... Callidus Software (CALD), down 2.4% after 4.6M share Secondary priced at $13.00.
06:21 EDTCSIQCanadian Solar plans to form YieldCO vehicle
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06:20 EDTCSIQCanadian Solar sees FY15 revenue $2.8B-$3B, may not compare to consensus $3.42B
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06:18 EDTCSIQCanadian Solar sees Q1 revenue $725M-$775M, consensus $733.9M
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06:16 EDTCSIQCanadian Solar reports Q4 EPS $1.28, consensus $1.34
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March 4, 2015
15:13 EDTCSIQNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Costco (COST), consensus $1.18... Kroger (KR), consensus 90c... Joy Global (JOY), consensus 36c... Ares Management (ARES), consensus 36c... Canadian Solar (CSIQ), consensus $1.34.
15:08 EDTCSIQCanadian Solar March weekly volatility increases into Q4 and outlook
Canadian Solar March weekly call option implied volatility is at 167, March is at 89, April is at 69, July is at 62; compared to its 26-week average of 71 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on March 5.
06:31 EDTCSIQSolar energy's future in Japan in doubt, NY Times says
The use of solar energy in Japan has surged in the last two years, but utilities say they can't cope with the large number of entities now looking to sell solar energy to them, according to The New York times. The utilities' willingness to invest more money in solar largely depends on the government's commitment to clean energy, the newspaper stated, noting that the government is reviewing its clean energy policies. 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
March 3, 2015
09:04 EDTCSIQSolar stocks could benefit from developments in China, says Roth Capital
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February 27, 2015
14:23 EDTCSIQCanadian Solar weekly volatility increases into Q4 and outlook
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February 23, 2015
18:02 EDTCSIQOn The Fly: After Hours Movers
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17:25 EDTCSIQFirst Solar, SunPower rally after saying they are in talks to form YieldCo
Solar stocks are moving up in extended trading this afternoon after First Solar (FSLR) and SunPower (SPWR) announced that they are in advanced negotiations to form a joint YieldCo vehicle. WHAT'S NEW: First Solar and SunPower announced that they are in advanced negotiations to form a joint YieldCo vehicle to which they each expect to contribute a portfolio of selected solar generation assets from their existing portfolio of assets. Upon the execution of a master formation agreement, the parties intend to file a registration statement with the SEC for an initial public offering of limited partner interests in the YieldCo. Formation of the YieldCo and completion of the IPO are subject to, among other things, the execution of definitive documentation, each party’s board approval and regulatory approval. PRICE ACTION: First Solar is up over 10% to $54.90 in the after hours while SunPower is higher by over 12% to $31.27. OTHERS TO WATCH: Other solar stocks gaining in after-hours trading include SolarCity Corporation (SCTY), Trina Solar (TSL), JA Solar Holdings (JASO), SunEdison (SUNE), and Canadian Solar (CSIQ).

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