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Stock Market & Financial Investment News

News Breaks
February 26, 2014
10:38 EDTCSIQ, JKS, SPWR, SUNE, FSLRFirst 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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February 23, 2015
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 EDTCSIQ, SPWR, FSLR, SUNEFirst 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 party’s 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 EDTFSLR, SPWRFirst Solar up about 10% following announcement of joint YieldCo with SunPower
SunPower is up about 12% on the news.
16:33 EDTSPWR, FSLRFirst 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 party’s 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 EDTSPWR, JKSDeutsche, 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 EDTSPWROption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
February 18, 2015
18:55 EDTSUNEOn The Fly: After Hours Movers
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18:22 EDTFSLR, SPWR, SUNESolar stocks struggle in extended session after SolarCity results
Solar stocks are trading down in the extended session after SolarCity (SCTY) reported a larger fourth quarter loss than expected and guided to a first quarter loss well below consensus estimates. WHAT'S NEW: Solar city said adjusted non-GAAP earnings per share for Q4 was a loss of ($1.33) against estimates of a loss of ($1.27). Revenue for the quarter was in-line at $71.8M. The company also guided for a loss of ($1.75)-($1.65) per share in the current quarter which is below analysts' average estimates for a loss of ($1.25) per share. However, the company did note, " With end-market demand healthy and growing, our installation capacity steadily ramping and a majority of our financing needs secured for the year, we remain confident in achieving our guidance to deploy 920-1000MW in 2015." PRICE ACTION: Shares of SolarCity are down over 5% to $54.01 in the after-hours session. OTHERS TO WATCH: Other stocks in the solar space trading lower in the extended session include SunPower (SPWR), SunEdison (SUNE), Vivint Solar (VSLR), and First Solar (FSLR).
16:23 EDTSUNESunEdison reports Q4 EPS (16c), consensus (33c)
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15:35 EDTSUNENotable companies reporting after market close
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February 17, 2015
07:06 EDTCSIQCanadian Solar acquires six solar projects in UK
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February 13, 2015
17:52 EDTSUNEThird Point gives quarterly update on stakes
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16:58 EDTSUNEGreenlight Capital gives quarterly update on stakes
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07:32 EDTSUNEAT&T and SunEdison to deliver 677 kilowatt solar system in Texas
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