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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 22, 2015
09:53 EDTSUNESunEdison initiated with an Outperform at Wolfe Research
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08:56 EDTFSLRJefferies to hold a field trip
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May 21, 2015
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.
07:33 EDTSUNESunEdison awarded 33MW rooftop solar contract in Southern California
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May 20, 2015
10:00 EDTSUNEOn The Fly: Analyst Initiation Summary
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May 19, 2015
16:42 EDTSUNESunEdison initiated with an Outperform at Baird
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08:52 EDTCSIQConcerns over Canadian Solar 'just near-term noise' says Roth Capital
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May 18, 2015
07:08 EDTJKSJinkoSolar to supply 50 MW of solar panels to Tegnatia for projects in Turkey
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07:02 EDTCSIQCanadian Solar receives $44.4M non-recourse construction loan
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07:01 EDTJKSJinkoSolar to supply 50MW of solar panels to Tegnatia
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05:13 EDTCSIQCanadian Solar to host investor day
Investor Day to be held in New York on May 18 at 9 am. Webcast Link
May 14, 2015
11:33 EDTSUNEStocks with call strike movement; TWTR SUNE
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May 13, 2015
07:04 EDTJKSJinkoSolar signs 1 GW framework supply agreement with China Minsheng New Energy
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May 12, 2015
13:36 EDTJKSJinkoSolar may spin off yieldco in 2015, DigiTimes says
Chinese solar energy company JinkoSolar may spin off a yieldco this year in roder to raise funds, according to DigiTimes, which cited reports in Chinese media. Yieldcos own power generating assets and produce steady income, the website quoted the reports as saying. Reference Link
07:06 EDTSUNESunEdison signs agreement with County of Alameda for 3MW solar system
SunEdison (SUNE) announced that is has signed an agreement with the County of Alameda, Calif. to install 3 megawatts, or MW, DC of solar systems as part of the second phase of the Regional Renewable Energy Procurement Program, or R-REP. In the first phase of R-REP, SunEdison was awarded more than 18 MW DC of solar projects with 9 different Bay Area public agencies, including 11 MW with Alameda County. In this second phase of the R-REP, SunEdison was awarded all of the projects on which it bid. SunEdison expects to add these projects to the Call Right Projects List for TerraForm Power (TERP),
May 11, 2015
16:20 EDTSUNESunEdison to review strategic alternatives
SunEdison announced that it is reviewing strategic alternatives to more effectively align the Company structure as a sponsor in a long term asset ownership platform, through its TerraForm platform. The most efficient and commonly utilized structure by sponsors of yield vehicles is the general partnership structure in a master limited partnership. The company is considering a range of alternatives that will drive greater value and enable the efficient return of capital to shareholders, while maximizing its growth opportunities. The company's board authorized this strategic review. SunEdison expects to conclude its strategic review before the end of the year. However, no specific timetable has been set, and there can be no assurance that any transaction will take place. Likewise, no decision has been made on the timing or terms of any such transaction if one were to occur.
16:07 EDTSUNESunEdison files to sell $750M of convertible senior notes
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11:37 EDTJKS, CSIQApple expanding renewable energy projects in China
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07:20 EDTJKS, CSIQDeutsche Bank to hold a conference
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05:05 EDTSPWRApple announces environmental initiatives in China
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