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March 24, 2014
08:10 EDTEMKREMCORE awarded solar panel manufacturing contract by Sierra Nevada Corporation
EMCORE Corporation has been awarded a contract by Sierra Nevada Corporation to design and manufacture solar panels for SNC to be used on NASA's Cyclone Global Navigation Satellite System. The CYGNSS mission will be managed by Southwest Research Institute and is planned for launch, October 2016. EMCORE will populate solar panels with its most advanced ZTJ triple-junction solar cells. SNC will then deliver the finished panels to SwRI for integration into the eight Low-Earth Orbiting satellites that will be carried into orbit on a single launch vehicle.
News For EMKR From The Last 14 Days
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September 29, 2014
10:00 EDTEMKROn The Fly: Analyst Downgrade Summary
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07:34 EDTEMKREMCORE downgraded to Hold from Buy at Needham
Needham downgraded EMCORE to Hold from Buy based on balanced risk/reward.
September 26, 2014
13:01 EDTEMKRVeritas Capital reports 11.7% stake in EMCORE
September 18, 2014
11:39 EDTEMKREMCORE gaps up, trends down through session
The shares gapped up at the open at $5.90, marking the session high and a new 52-week high. Since hitting the high the stock has been steadily trending down, last at $5.43. At that price next support is at $5.24, a prior pivot high on a closing basis. Resistance is at $5.66.
11:27 EDTEMKREMCORE soars after sale of space photovoltaics business, CEO change
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08:59 EDTEMKROn The Fly: Pre-market Movers
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06:30 EDTEMKREMCORE price target raised to $10 from $6.50 at B. Riley
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September 17, 2014
19:07 EDTEMKREMCORE up 30% after-hours following Space unit sale, CEO transition announcement
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18:35 EDTEMKREMCORE to resume trading at 7:00pm ET
Quotes resume at 6:55pm ET.
18:31 EDTEMKREMCORE announces CEO transition plan
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18:28 EDTEMKREMCORE sells space photovoltaics business to Veritas Capital for $150M in cash
EMCORE announced that it has entered into a definitive agreement with an affiliate of private equity firm Veritas Capital, under which an affiliate of Veritas has agreed to purchase EMCORE's Space Photovoltaics business for $150M in cash. The transaction is subject to approval by EMCORE's shareholders and other customary closing conditions and is currently expected to close in December 2014 or January 2015. The transaction is not subject to a financing condition. In connection with this transaction, an affiliate of Veritas has entered into a voting agreement with certain shareholders of EMCORE, including certain directors and officers of the company, that control in the aggregate approximately 11% of the voting power of the company, under which they have agreed to vote their shares in favor of the transaction. EMCORE's Space Photovoltaics business was founded in 1998 and is based in Albuquerque, NM. The business provides products for space power applications including high-efficiency multi-junction solar cells, coverglass interconnected cells and complete satellite solar panels, along with terrestrial applications, including high-efficiency multi-junction solar cells for concentrating photovoltaic power systems.
18:20 EDTEMKREMCORE trading halted, pending news
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