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Stock Market & Financial Investment News

News Breaks
July 30, 2013
12:28 EDTFSLR, BBRYStocks with call strike movement; FSLR BBRY
First Solar (FSLR) August 55 call option implied volatility increased 2% to 76, BlackBerry (BBRY) January 10 call option implied volatility decreased 2% to 56 according to IVolatility.
News For FSLR;BBRY From The Last 14 Days
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May 26, 2015
16:20 EDTFSLROn The Fly: Top stock stories for Tuesday
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15:23 EDTFSLRRBC says sell First Solar as earnings power overestimated
RBC Capital cut its rating on solar energy company First Solar (FSLR) to Underperform, its equivalent of a "sell" rating, in a note to investors earlier today. WHAT'S NEW: First Solar's earnings power is significantly below analysts' consensus estimate and the company's guidance, RBC Capital analyst Mahesh Sanganeria wrote. The company's profits will be limited due to the lower selling prices of its modules and its declining gross margin, the analyst stated. Moreover, even if demand for modules is very strong, First Solar's sales will be limited by its capacity, Sanganeria contended. Furthermore, First Solar's cost advantage over competing modules has eroded and may disappear completely, partly due to significant declines in polysilicon prices and manufacturing efficiency improvements, the analyst stated. Sanganeria downgraded the shares to Underperform from Sector Perform and lowered the price target on the stock to $34 from $54. WHAT'S NOTABLE: In contrast, UBS was upbeat on the outlook for another name in the solar sector, SunEdison (SUNE), in its own note to investors today. SunEdison is may begin paying a dividend and could expand into Canadian renewable projects, UBS analyst Julien Dumoulin-Smith wrote. The company may acquire Canadian assets for relatively cheap prices, said Dumoulin-Smith, who kept a $32 price target and Buy rating on SunEdison. PRICE ACTION: In afternoon trading, First Solar dropped 6.7% to $51.41 and SunEdison slipped 1.7% to $30.14. CORRECTION: This story corrects an earlier one to clarify that 8point3 Energy Partners is a growth-oriented limited partnership formed by First Solar and SunPower (SPWR) to own, operate and acquire solar energy generation projects. TerraForm Global is the diversified, dividend growth-oriented company formed to acquire clean energy generation assets from SunEdison.
13:36 EDTBBRYSources say Microsoft examining potential BlackBerry bid, Betaville reports
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13:22 EDTFSLRFirst Solar May weekly volatility low on pullback
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12:35 EDTFSLROn The Fly: Top stock stories at midday
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11:58 EDTFSLRFirst Solar trades near session lows, levels to watch
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09:58 EDTFSLROn The Fly: Analyst Downgrade Summary
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09:23 EDTFSLROn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up marginally after reporting third quarter results. ALSO HIGHER: Geeknet (GKNT), up 119.7% after being acquired by Hot Topic for $17.50 per share... IntelliPharmaCeutics (IPCI), up 16.8% after being granted fast track designation for Rexista Oxycodone by FDA... McDermott (MDR), up 9.2% after favorable mention in Barron's and after being awarded a project for 12 jackets offshore Saudi Arabia... Time Warner Cable (TWC), up 5.2% following announcement of merger with Charter (CHTR)... Charter is up fractionally. DOWN AFTER EARNINGS: Sky-mobi (MOBI), down 7.9%. ALSO LOWER: Etsy (ETSY), down 5.7% following a Wall Street Journal report that Amazon.com (AMZN) is targeting Etsy with an artisan goods marketplace... First Solar (FSLR), down 4.1% after being downgraded to Underperform from Sector Perform at RBC Capital... AstraZeneca (AZN), down 1.9% after Amgen (AMGN) ends participation in co-development and commercialization of brodalumab... Amgen is down 1.5%.
06:46 EDTFSLRFirst Solar downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded First Solar to Underperform and lowered its price target on the stock to $34 from $54. The firm believes First Solar's cost advantage over C-Si module producers is diminishing and that its earnings power is significantly below previous guidance and consensus. RBC Capital rolled out 2016 estimates of $1.37/$3.4B, versus consensus of $3.48/$4.1B and guidance of $3.50-$5.00/$3.8B-$4.5B. The firm sees limited upside to its estimates given First Solar's high exposure to utility scale projects and long-lead time and development cycles, combined with lower ASPs and gross margins to third-party module estimates.
May 25, 2015
19:08 EDTBBRYBlackBerry consolidates device business, cuts 'number' of jobs, Re/code says
BlackBerry announced it will consolidate its device software, hardware and applications business, impacting a number of employees around the world, reports Re/code, citing an emailed statement from the company. "One of our priorities is making our device business profitable. At the same time, we must grow software and licensing revenues. You will see in the coming months a significant ramping up in our customer-facing activities in sales and marketing," said the company. Reference Link
May 22, 2015
10:59 EDTBBRYBlackBerry advances after second report says Microsoft weighing bid
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08:56 EDTFSLRJefferies to hold a field trip
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06:18 EDTBBRYBlackBerry an acquisition target after return to profitability, Digitimes says
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May 21, 2015
16:50 EDTBBRYBlackBerry up 2% after announcing proposed share repurchase program
16:38 EDTBBRYBlackBerry to propose new employee share purchase plan
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16:36 EDTBBRYBlackBerry to buy for cancellation up to 12M common shares
BlackBerry announced that its Board of Directors has authorized a share repurchase program to purchase for cancellation up to 12M BlackBerry common shares, or approximately 2.6% of the outstanding public float. BlackBerry can purchase the common shares over the Nasdaq Stock Market or, subject to regulatory approval, on the Toronto Stock Exchange or other markets. In the past 12 months, BlackBerry has not repurchased any of its outstanding securities. At its annual meeting of shareholders on June 23, BlackBerry will present for approval a new employee share purchase plan and a proposed increase in the number of shares available under BlackBerry's equity incentive plan. If these proposals are approved by shareholders at the meeting, BlackBerry will file a notice of intention to commence a normal course issuer bid with the TSX. The share repurchase program would remain in place for up to 12 months from acceptance of the notice of intention by the TSX, or such earlier time as the purchases are completed or the program is terminated by BlackBerry. If the proposals are not approved by shareholders, BlackBerry does not expect that it will proceed with the share repurchase program. "The purpose of this repurchase program will be to offset dilution that may result from our proposed employee share purchase plan and from proposed amendments to our equity incentive plan," said BlackBerry Executive Chairman and CEO, John Chen. "We intend to take advantage of our strong cash position to purchase our shares when the market price does not reflect what we view to be the underlying value and future prospects of our business, without adversely affecting our strategic initiatives," added Mr. Chen. The price that BlackBerry will pay for any shares under the share repurchase program will be the prevailing market price at the time of purchase. The share repurchase program will be effected in accordance with Rule 10b-18 under the U.S. Securities Exchange Act of 1934 and the TSX's normal course issuer bid rules, which contain restrictions on the number of shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of BlackBerry's shares on the applicable exchange. In addition, BlackBerry may enter into forward purchase or swap contracts in connection with common shares which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates.
12:01 EDTFSLRSouthern Company subsidiary acquires 103-MW Georgia solar project
Southern Company (SO) subsidiary Southern Power acquired the 103-megawatt Butler solar facility from Community Energy in Georgia. The project, which was initially developed by Community Energy was selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The facility, which will be located on approximately 1,070 acres in Taylor County, Georgia, is expected to enter commercial operation in the fourth quarter of 2016. Construction is slated to begin in September 2015, with First Solar (FSLR) managing the building, operations and maintenance of the facility. The Butler solar facility is expected to consist of more than 1 million of First Solar's thin-film photovoltaic solar modules mounted on single-axis tracking tables. The electricity and associated renewable energy credits generated by the facility will be sold under a 30-year power purchase agreement with Georgia Power, which will have the option to keep or sell the RECs, for the benefit of its customers or renewable energy programs.
May 19, 2015
08:37 EDTBBRYBlackBerry software showing encouraging signs, says RBC Capital
RBC Capital says it's seeing encouraging signs regarding the sales of BlackBerry's software to regulated sectors, including government ,financials, and healthcare. The firm says that the company's mobile device management system, BES 12, is adding customers, while its resellers are getting more comfortable selling its software and sales of its technology solutions products are beating its guidance. RBC slashed its hardware sales estimates for the company and expects its Q1 revenue to come in well below expectations as a result, but adds that software has become the company's focus. It keeps an $11 price target and Sector Perform rating on the shares.
06:29 EDTBBRYBlackBerry CEO says smartphone business will be profitable again, BI reports
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May 18, 2015
05:50 EDTBBRYStocks with implied volatility movement; BBRY MNKD
Stocks with implied volatility movement; BlackBerry (BBRY) 55, MannKind (MNKD) 75 according to iVolatility.
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