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Stock Market & Financial Investment News

News Breaks
February 26, 2014
10:38 EDTFSLR, SPWR, CSIQ, SUNE, JKSFirst 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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August 1, 2014
10:00 EDTSPWROn The Fly: Analyst Upgrade Summary
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09:50 EDTSPWRActive equity options trading on open
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09:27 EDTSPWROn The Fly: Pre-market Movers
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05:35 EDTSPWRSunPower upgraded to Buy from Hold at Brean Capital
Brean Capital upgraded SunPower to Buy with a $41 price target following the company's Q2 results citing strong end market demand and stable selling prices.
July 31, 2014
18:58 EDTSPWROn The Fly: After Hours Movers
UP AFTER EARNINGS: Imperva (IMPV), up 13.4% after reporting quarterly results... LinkedIn (LNKD), up 7.7% after reporting better than expected second quarter results and guidance for third quarter and fiscal 2014... Expedia (EXPE), up 2.1% after reporting second quarter results above analyst estimates and raising its quarterly dividend... Priceline (PCLN), up marginally following Expedia's second quarter results...Tableau Software (DATA), up 1.5%... Mohawk (MHK), up 3%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 3.4% after the FDA said that it will explore quick approval of DMD drugs. DOWN AFTER EARNINGS: Web.com (WWWW), down 16.8% after reporting second quarter results and acquiring UK online directory company Scoot... ARRIS Group (ARRS), down 8.6%... Control4 (CTRL), down 11.1%... SunPower (SPWR), down 5%... GoPro (GPRO), down 11.2%... Outerwall (OUTR), down 2%... Tesla (TSLA), down marginally after reporting second quarter results and announcing that it broke ground on a possible Gigafactory location in Reno, Nevada.
16:22 EDTSPWRSunPower sees FY14 EPS $1.10-$1.40, consensus $1.31
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16:21 EDTSPWRSunPower sees Q3 EPS 15c-35c, consensus 29c
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16:20 EDTSPWRSunPower reports Q2 EPS 28c, consensus 26c
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07:19 EDTSUNESunEdison and NORD/LB agree on financing for solar project in Ontario
SunEdison has reached financial close with Norddeutsche Landesbank Girozentrale, or NORD/LB for an 18 MW DC solar power plant in Ontario. The project is set to start construction in July and be completed by the end of 2014, at which time it will be sold to Firelight Infrastructure Partners.
July 30, 2014
08:50 EDTCSIQCanadian Solar concerns overblown, says Northland
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06:28 EDTJKSJinkoSolar to receive $225M private equity investment led by CDBI
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05:22 EDTSPWRSunPower announces 29 MW supply agreement with Nangoku
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July 29, 2014
07:11 EDTCSIQCanadian Solar disappointed by DOC's decision to impose anti-dumping tariffs
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July 28, 2014
09:17 EDTFSLROn The Fly: Pre-market Movers
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08:05 EDTSPWRHannon Armstrong to provide up to $44.5M for SunPower's solar lease program
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05:44 EDTFSLRFirst Solar, XSOL establish supply agreement in Japan
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July 27, 2014
20:10 EDTFSLR, JKSU.S proposes penalties on certain Chinese solar-energy imports, Bloomberg says
The U.S Commerce Department proposed expanded penalties on some Chinese solar-energy imports, says Bloomberg. The agency said in a preliminary finding that Chinese manufacturers were unfairly selling goods in the U.S. at unfairly low prices, added Bloomberg. Reference Link
July 24, 2014
07:23 EDTSUNESunEdison partners with Community Energy on Colorado solar power plant
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July 22, 2014
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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07:03 EDTSUNESunEdison signs PPA with Southern Nevada Water Authority
SunEdison announced that it has signed a 20-year power purchase agreement, or PPA, with the Southern Nevada Water Authority, or SNWA. The power purchase agreement enables SNWA to lock in a significant portion of its energy costs at a fixed rate, providing an effective hedge against future increases. As part of the agreement, SunEdison will develop, construct, own and operate a 14 megawatt AC solar photovoltaic power plant, located in Clark County, Nevada. Construction of the facility will begin in early 2015 with commercial operation slated for later that year.
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