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Stock Market & Financial Investment News

News Breaks
March 19, 2014
13:45 EDTJKS, SPWR, SUNE, SCTY, CSIQ, FSLRFirst Solar rallies after issuing optimistic FY15 outlook
Shares of solar products and services company First Solar (FSLR) are on the rise after the company issued guidance for next fiscal year that surpassed analysts' expectations. WHAT'S NEW: During the company's analyst day meeting, First Solar said that it expects FY14 earnings per share of $2.20-$2.60. Analysts' consensus for FY14 EPS stood at $3.12 prior to the company's guidance. The company sees FY14 revenue of $3.7B-$4.0B, compared to analysts' consensus of $3.77B. First Solar also said that it expects FY15 earnings per share of $4.50-$6.00, which is well above analysts' consensus of $3.68. The company expects FY15 revenue of $3.8B-$4.3B, compared with analysts' expectations of $4.24B. Also earlier today, First Solar and GE (GE) Power Conversion business announced that they are utilizing their established technology and commercial partnership to develop a more cost effective and productive utility-scale PV power plant design that combines First Solarís CdTe modules with GEís ProSolar 1500 Volt inverter/transformer system. First Solar also announced that it has set a world record for cadmium-telluride photovoltaic module conversion efficiency, achieving a record 17% total area module efficiency in tests performed by the U.S. Department of Energy's National Renewable Energy Laboratory. The new record is an increase over the prior record of 16.1% efficiency. WHAT'S NOTABLE: On February 26, the day after First Solar reported significantly weaker than expected fourth quarter results and provided lower than expected first quarter profit guidance, the company's stock fell over 9%. At that time First Solar said there were delays in "a couple" of projects for which the company had expected to recognize revenue in Q4 and that it now expects to recognize revenue from these projects this year instead. Furthermore, First Solar said then that its Q1 guidance "is not indicative" of the company's full-year outlook, as it expects to be paid later in the year for a number of projects it is currently building. The company only gave Q1 guidance at that time, not fiscal year guidance, but advised then that it would provide more detail about its full-year outlook at its analyst day. PRICE ACTION: In afternoon trading, First Solar rallied $10.04, or 17.44%, to $67.60. OTHERS TO WATCH: Other names in the solar sector include SolarCity (SCTY), SunPower (SPWR), Canadian Solar (CSIQ), Sunedison (SUNE), and JinkoSolar (JKS).
News For FSLR;SCTY;SPWR;CSIQ;SUNE;JKS From The Last 14 Days
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February 24, 2015
06:17 EDTSUNESunEdison sees FY15 total sales of 2,100 MW - 2,300 MW
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06:16 EDTSUNESunEdison sees Q1 total sales of 220MW-250MW
Sees Q1 third party sales of 75MW-90MW; Sees Q1 retained sales of 145MW-160MW.
06:09 EDTFSLR, SPWRJPMorgan positive on First Solar, SunPower joint venture talks
JPMorgan says its initial view is positive of the First Solar (FSLR), SunPower (SPWR) advanced talks to form a joint venture. The firm believes the initial portfolio of the combined YieldCo should be 1.2GW or more, which it thinks would support "strong" dividend growth. It has an Overweight rating on both names.
February 23, 2015
18:02 EDTSUNE, SCTY, FSLR, CSIQ, SPWROn The Fly: After Hours Movers
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17:39 EDTFSLRFirst Solar gaps up after hours, levels to watch
Shares were last up over 11% to $55.27 following news that the company was in discussion with SunPower (SPWR) to create a joint venture YieldCo vehicle. SunPower shares were also rallying. At current price next resistance is at $56.99. Support is at $54.29.
17:25 EDTSPWR, FSLR, CSIQ, SUNE, SCTYFirst 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 partyís 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).
16:41 EDTSPWR, FSLRFirst Solar up about 10% following announcement of joint YieldCo with SunPower
SunPower is up about 12% on the news.
16:33 EDTFSLR, SPWRFirst Solar, SunPower plan to partner to form joint YieldCo vehicle
First Solar (FSLR) and SunPower (SPWR) 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 partyís board approval and regulatory approval. There is no assurance that the YieldCo will be formed or that the IPO will be consummated or that any other transaction will occur.
13:23 EDTFSLRFirst Solar February weekly volatility elevated into Q4 and outlook
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10:49 EDTSUNESunEdison to host Captial Markets Day
Capital Markets Day to be held on February 24 at 9 am.
February 20, 2015
08:43 EDTSPWRMorgan Stanley still ascribes a 75% probability of a SunPower Yield Co
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07:26 EDTSUNESunEdison price target raised to $28 from $24 at RBC Capital
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06:12 EDTSUNESunEdison, GRID Alternatives announce solar workforce initiative
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February 19, 2015
13:18 EDTCSIQ, FSLR, SPWRIsrael's SolarEdge to launch IPO
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13:04 EDTJKS, SPWR, SCTYDeutsche, Canaccord still upbeat on SolarCity despite Q1 guidance miss
The shares of SolarCity (SCTY) are falling after the company reported a higher than expected fourth quarter loss. However, Deutsche Bank and research firm Canaccord remained upbeat on the stock in notes to investors earlier today. Solarcity installs solar energy systems at residences and businesses. BACKGROUND: SolarCity reported a Q4 loss of ($1.33) per share, versus the consensus outlook for a ($1.27) per share loss. SolarCity's Q4 revenue, however, was roughly in-line with expectations and the company said that its backlog as of the beginning of 2015 was large enough to cover much of its expected installations for the first half of the year. Additionally, SolarCity reiterated its guidance for 920-1000MW of solar installations for 2015. SolarCity estimated, however, that its Q1 per share loss would come in at ($1.65)-($1.75), versus the consensus outlook for a ($1.25) per share loss. ANALYST REACTION: Deutsche Bank analyst Vishal Shah wrote that SolarCity had executed well, while demand for its installations is strong. Moreover, the company's cost reduction plan looks to be running ahead of schedule, and its 2015 shipments look poised to come in ahead of its guidance, Shah believes. The analyst did, however, write that SolarCity's Q4 bookings were "somewhat" below his expectations and declined versus Q3. Nonetheless, the analyst continued to identify the stock as one of his top picks in the solar sector and kept a $90 price target and Buy rating on the name. Also upbeat on SolarCity was Canaccord analyst Jed Dorsheimer. He raised his price target on the shares to $67 from $64 following its results. SolarCity has had record bookings over the last 30 days and the company should come close to setting a bookings record in Q1, the analyst wrote, adding that its deployments should ramp in Q2 and Q3 as seasonal factors subside. Dorsheimer kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, SolarCity fell 6.3% to $53.48. Other names in the solar sector also declined, with SunPower (SPWR) falling 1.8%, JinkoSolar (JKS) dropping 1.5%, and Vivint Solar (VSLR) losing 2.3%.
09:35 EDTSPWR, SCTYOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
09:32 EDTSCTYSolarCity shares may be range-bound after Q4 miss, says Roth Capital
Roth Capital believes SolarCity shares may be range-bound following the company's "modest" miss in Q4. Roth continues to view SolarCity as the best-in-class player and recommends accumulating the stock opportunistically. It reiterates a Buy rating on the name with a $98 price target.
09:12 EDTSCTYOn The Fly: Pre-market Movers
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07:39 EDTSCTYSolarCity price target raised to $67 from $64 at Canaccord
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06:37 EDTSCTYSolarCity Q4 results show 'robust' demand environment, says Deutsche Bank
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