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Stock Market & Financial Investment News

News Breaks
February 26, 2014
10:38 EDTSUNE, FSLR, CSIQ, JKS, SPWRFirst Solar sinks after results miss expectations
Shares of First Solar (FSLR) are tumbling after the company reported significantly weaker than expected fourth quarter results and provided lower than expected first quarter profit guidance. First Solar develops photovoltaic solar modules and builds solar power plants. WHAT'S NEW: First Solar's fourth quarter earnings per share, excluding some items, came in at 89c, versus analysts' consensus estimate of 99c. The company's revenue also came in below expectations. Moreover, First Solar provided first quarter EPS guidance of 50c-60c, versus the consensus outlook of 84c. The solar energy company's first quarter revenue guidance was $800M-$900M, versus the consensus outlook of $898.25M. First Solar stated that its fourth quarter revenue was negatively affected by the timing of revenue generation from several of its projects. There were delays in "a couple" projects for which the company had expected to recognize revenue in Q4, the company stated. As a result of the delays, First Solar now expects to recognize revenue from these projects this year instead. Moreover, the company obtained initial revenue from several projects in the third quarter, rather than last quarter, the company added. Furthermore, First Solar stated 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. First Solar will provide more detail about its full-year outlook at its Analyst Day on March 19, the company stated. ANALYST REACTION: In a note to investors earlier today, Citigroup analyst Shahriar Pourreza wrote that First Solar's results were weaker than expected due to timing issues. The company's Analyst Day, where it should provide 2014 guidance, will be a "key catalyst, and investors will now likely focus on the event, wrote the analyst. Pourreza, who added that First Solar's Q1 guidance could be conservative, kept a $63 price target and Buy rating on the shares. OTHERS TO WATCH: Other names in the sector include SunPower (SPWR), Canadian Solar (CSIQ), Sunedison (SUNE), and JinkoSolar (JKS). PRICE ACTION: In mid-morning trading, First Solar sank $6.17, or 10.7%, to $51.80.
News For FSLR;SPWR;CSIQ;SUNE;JKS From The Last 14 Days
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May 1, 2015
09:12 EDTFSLROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Ocwen Financial (OCN), up 13.7%... Century Aluminum (CENX), Expedia (EXPE), up 6.1%... FireEye (FEYE), up 5.6%... Agnico Eagle Mines (AEM), up 3%... Gilead Sciences (GILD), up 2.9%... CVS Health (CVS), up 1.4%. ALSO HIGHER: EnerNOC (ENOC), up 26.5% after announcing collaboration with Tesla (TSLA)... Tesla up 1.2% after announcing Tesla Energy and partnerships... Cyberark (CYBR), up 2.9% after FireEye reported quarterly results... Cyberark (CY), up 2.5% after being upgraded to Strong Buy from Buy at Needham. DOWN AFTER EARNINGS: LinkedIn (LNKD), down 19.2%... Pixelworks (PXLW), down 7.5%... Cooper Tire (CTB), down 6.2%... JDS Uniphase (JDSU), down 3.2%... First Solar (FSLR), down 2.4%. ALSO LOWER: Tetralogic (TLOG), down 10.3% after 6.25M share Spot Secondary priced at $4.00.
08:26 EDTFSLRFirst Solar results likely bottomed in Q1, says Stifel
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April 30, 2015
19:01 EDTFSLROn The Fly: After Hours Movers
UP AFTER EARNINGS: Ellie Mae (ELLI), up 10%... Ocwen Financial (OCN), up 9%... athenahealth (ATHN), up 8.5%... Expedia (EXPE), up 4.5%... Skyworks Solutions (SWKS), up 3.7%... Eastman Chemical (EMN), up 2.4%... Nektar Therapeutics (NKTR), up 1.4%... FireEye (FEYE), up 2%. ALSO HIGHER: Monsanto (MON), up 3.6% following a Bloomberg report that the company approached Syngenta (SYT) about a takeover... Altera (ALTR), up 4.4% following a Reuters report that Intel (INTC) has a standstill pact set to end in June. DOWN AFTER EARNINGS: LinkedIn (LNKD), down 21.3%... Hutchinson Technology (HTCH), down 15.3%... Insulet (PODD), down 13.9%... Accuray (ARAY), down 14%... Constant Contact (CTCT), down 9.9%... Trimble Navigation (TRMB), down 6.6%... First Solar (FSLR), down 4.4%... JDS Uniphase (JDSU), down 3%... BioMarin (BMRN), down 1.8%... Visa (V), down 1.6%.
16:58 EDTFSLRFirst Solar sees Q2 EPS 45c-55c, consensus 40c
Sees Q2 revenue $750M-$850M, consensus $779.65M.
16:57 EDTFSLRFirst Solar reports Q1 GAAP EPS (62c), may not compare to consensus (29c)
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16:52 EDTFSLRCaterpillar signs strategic alliance with First Solar to develop microgrids
Caterpillar (CAT) and First Solar (FSLR) announced a strategic alliance to develop an integrated photovoltaic solar solution for microgrid applications. Under the agreement, First Solar will design and manufacture a pre-engineered turnkey package for use in remote microgrid applications, such as small communities and mine sites. The package will feature Cat-branded solar panels manufactured by First Solar and will include a balance of system components.
16:35 EDTSPWRSunPower says withholding FY15 guidance
SunPower believes that its underlying business fundamentals remain strong for 2015. However, in light of the company's announcement on February 23 of its intention to form a joint YieldCo vehicle, 8point3 Energy Partners, with First Solar, and the pending S-1 registration statement, the company will withhold fiscal year 2015 guidance until the company can finalize the estimates regarding the impact of the proposed YieldCo vehicle on the company's expected financial performance. The company will provide an update at a later date.
16:34 EDTSPWRSunPower reports Q1 adjusted EPS 13c, consensus 9c.
Reports Q1 adjusted revenue $430.6M, consensus $452.56M. Reports Q1 GAAP revenue $440.9M.
13:16 EDTSPWR, SUNEChinese solars fall after analyst indicates tariff could be scrapped
The shares of Chinese solar stocks are falling after research firm Cowen indicated that China's solar feed-in-tariff program could be altered or canceled in 2016. WHAT'S NEW: After meeting with "numerous solar" companies in China, Cowen analyst Jeffrey Osborne wrote that "there have been discussions around the future of China's national (solar) feed-in tariff program." Solar companies' fourth quarter results may exceed expectations as developers rush to complete projects "if the feed-in tariff program becomes subject to a change, reduction, replacement, or cancellation for 2016 onward," according to Osborne. Moreover, the analyst reported that his conversations indicate that the pricing of solar energy products will bottom in April or May, then be flat to up at the end of Q2. Solar companies' Q1 margins will be challenging due to price drops and foreign exchange fluctuations, the analyst added. However, Q2 orders indicate that pricing has plateaued, while foreign exchange headwinds have eased, according to Osborne. Two to three gigawatts of the five gigawatts of solar energy that China reported were installed in Q1 were probably actually completed last year and then connected to the grid this year, Osborne reported. On a positive note, the analyst, confirming recent reports says that demand for solar energy in China is accelerating. He predicts that demand will spike in Q3, as new projects may not be eligible for the feed-in tariff if they are less than 50% complete by November 30. He identified his favorite names ion the solar sector as Trina Solar (TSL), SunPower (SPWR), SunEdison (SUNE), and Amtech Systems (ASYS). PRICE ACTION: In mid-afternoon trading, JinkoSolar fell 1.5% to $28.80, Trina Solar declined 3% to $12.50, Canadian Solar dropped 3% to $36, SunPower fell 2% to $32.70, JA Solar lost 2.5% to $10.30, and SunEdison dropped 1% to $25.80. .
08:42 EDTFSLR, CSIQ, SPWRChina solar demand accelerating, likely to spike in Q3, says Cowen
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April 29, 2015
15:46 EDTFSLR, CSIQ, SPWRCalifornia sets aggressive greenhouse gas reduction target, Clean Technica says
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05:58 EDTFSLRStocks with implied volatility movement; TZA FSLR
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April 28, 2015
12:29 EDTCSIQ, SPWR, FSLRCanadian Solar sees panel shortage in 2H as demand grows, Bloomberg says
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08:55 EDTFSLRFirst Solar May weekly volatility elevated into Q1 and outlook
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April 27, 2015
08:47 EDTJKS, CSIQRoth Capital to hold a tour
2nd Annual ROTH China Solar Tour travels throughout Shanghai, China on April 27-30.
07:12 EDTJKSJinkoSolar supplied 3MW of PV modules to Emobotelladora de Sula
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April 22, 2015
07:11 EDTSUNESunEdison to convert landfill site in Winchendon to 2.6 MW solar power plant
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06:09 EDTSUNESunEdison appoints Pancho Perez as COO
SunEdison announced that Pancho Perez has been appointed to the newly created role of EVP and COO. Perez's appointment extends his role as COO for TerraForm Power to leadership in the same role across the SunEdison platform. Perez has previously served as president of SunEdison Europe, Middle East, and Latin America.
April 21, 2015
07:16 EDTSUNESunEdison and TerraForm close financing for portfolio of 97 MW of solar projects
SunEdison (SUNE) and TerraForm (TERP) announced that they have closed financing of a 97 megawatts DC portfolio of utility-scale photovoltaic solar projects in the UK that were connected during the first quarter of 2015. The portfolio is comprised of eight large-scale solar farms across England and Wales that will have the combined capacity to power nearly 30,000 homes per year. Individual project size varies from 6 to 19 MW. Financing for the construction of the solar farms has been provided by Bayerische Landesbank, which provided a GBP 84.6 million non-recourse loan. EDF Energy, the UK's largest producer of low-carbon electricity, will purchase the solar energy under a 15-year power purchase agreement with SunEdison. As announced on March 31, 2015, TerraForm Power has acquired plants with a capacity of 53 MW from this portfolio. It intends to acquire the remaining 44 MW, currently included on SunEdison's Call Right Project List for TerraForm Power, during the second quarter of 2015.
April 20, 2015
05:10 EDTSPWRSunPower begins construction on 86 MWp solar project in South Africa
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