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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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December 17, 2014
16:12 EDTSPWRSunPower announces exclusive agreement with Sunverge
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09:33 EDTFSLRSouthern Company selects First Solar to expand solar development in Georgia
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06:36 EDTSPWR, FSLR, CSIQU.S. announces tariffs on Chinese, Taiwanese solar companies, NY Times says
The U.S. announced that it would impose tariffs of 26.7%-78.4% on the imports of most Chinese made solar panels, and tariffs of 11.45%-27.5% on solar cells made in Taiwan, according to The New York Times. Duties of 27.6%-50% will be imposed on modules made in China, the newspaper quoted the Commerce Department as saying. American officials still hope that they can reach a settlement with the Chinese on solar trade issues, the newspaper stated. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). Reference Link
December 16, 2014
10:42 EDTFSLRFirst Solar calls active on renewed takeover speculation
First Solar December 41.5 and 42 calls are active on total call volume of 5K contracts (3K puts) following renewed takeover speculation. December call option implied volatility is at 64, January and February is at 48; compared to its 26-week average of 46 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:07 EDTFSLRRumor: First Solar moves off lows on renewed takeover chatter
Share of First Solar (FSLR) are moving higher on renewed speculation Siemens AG (SIEGY) may be acquire the company.
09:59 EDTSPWROn The Fly: Analyst Upgrade Summary
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09:16 EDTSPWROn The Fly: Pre-market Movers
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08:09 EDTSPWRSunPower upgraded at Morgan Stanley
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07:42 EDTSUNESunEdison closes $117M solar fund
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07:07 EDTCSIQCanadian Solar completes sale of RayLight solar power plant
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06:34 EDTSPWRSunPower upgraded to Overweight from Equal Weight at Morgan Stanley
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December 15, 2014
10:10 EDTSPWR, FSLR, SUNESolar stocks could be volatile ahead of ITC/ITA decisions, says Brean Capital
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08:04 EDTSPWRSunPower invests $20M in Tendril
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07:37 EDTSUNESunEdison to invest over $700M to develop 350 MW of solar in Chile
SunEdison (SUNE) announced that the National Energy Commission in Chile has awarded SunEdison a contract to supply 570 gigawatt hours of clean energy a year. SunEdison noted that the National Energy Commission in Chile recently changed the bidding process used to award electricity supply contracts for the regulated market to create a more level playing field across different kinds of energy. With these changes, SunEdison was able to bid on and win supply contracts for 570 gigawatt hours of solar energy. SunEdison was awarded the provision of 190 gigawatt hours per year during the daytime block which begins in 2016 and a further provision of 380 gigawatt hours per during the daytime block which will become operational in 2017. To meet the demand, SunEdison will be investing more than $700M to develop 350 megawatts of utility scale solar photovoltaic power plants throughout the country. The plants will be added to the call right list of TerraForm Power (TERP), a global owner and operator of renewable energy power plants.
December 12, 2014
08:42 EDTCSIQCanadian Solar has reached attractive entry point, says Roth Capital
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07:01 EDTJKSJinkoSolar supplies China General Nuclear Power Group 80 MW of solar modules
JinkoSolar announced that it has supplied 80 MW of solar PV modules to China General Nuclear Power Group for a solar PV project in Neihuang County, Henan Province. Located in Mashang and Liucun, two villages in Neihuang County, Henan Province, the project is being built on the rooftops of traditional agricultural greenhouse. It utilizes 325689 pieces of JinkoSolar's high-efficiency PV modules is expected to be connected to the grid by the end of 2014.
December 10, 2014
11:57 EDTFSLRStocks with call strike movement; NFX FSLR
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08:05 EDTFSLRFirst Solar announces strategic investment in Clean Energy Collective
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December 8, 2014
09:04 EDTCSIQCanadian Solar management to meet with JPMorgan
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06:06 EDTCSIQSharp could sell U.S. solar unit to Canadian Solar, Nikkei reports
Sharp (SHCAY) will reportedly sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (CSIQ) for about $250M, The Nikkei said yesterday. Sharp aims to reach a basic agreement Canadian Solar by the end of the month and complete the sale by spring, the report indicated. Reference Link
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