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Stock Market & Financial Investment News

News Breaks
May 15, 2014
12:28 EDTFSLR, SPWR, SCTY, YGE, JKS, CSIQSolars retreat after India reportedly mulls tariffs
Shares of several solar energy companies are slumping after Bloomberg reported that the Indian government found evidence that companies had dumped solar products in India. WHAT'S NEW: First Solar (FSLR) and Yingli Green (YGE) were among the foreign companies that sold solar equipment in India for much less than in their home markets, the Indian government found, according to Bloomberg. New Delhi may respond by imposing tariffs on U.S. and Chinese solar products, the news service stated. Duties would make most large scale solar projects in the country unviable, Bloomberg quoted an India-based consultant as saying. WHAT'S NOTABLE: In a note to investors earlier today, Deutsche Bank analyst Vishal Shah wrote that the risk/reward ratio on SolarCity (SCTY) and SunPower (SPWR) are attractive at current levels. SunPower should benefit from strong demand for existing projects that can be carried out by yieldcos, Shah wrote. Yieldcos are subsidiaries of energy companies that own power plants and projects and typically trade on stock exchanges. Meanwhile, if the U.S. imposes duties on solar equipment imported from Taiwan next month, SolarCity is confident that it can respond by reducing the costs of overall systems, the analyst reported. The company's price increases should be much less than the consensus outlook, according to Shah, who kept Buy ratings on SolarCity and SunPower. PRICE ACTION: In early afternoon trading, First Solar gave back 4.5% to $59.11, Yingli Green dropped 5.6% to $2.88, JinkoSolar (JKS) plunged 9.4% to $23.80, Canadian Solar (CSIQ) sank 7.4% to $24.93, SunPower slid 4.5% to $31.51, and SolarCity tumbled 6.5% to $50.85.
News For FSLR;SPWR;SCTY;YGE;JKS;CSIQ From The Last 14 Days
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October 13, 2014
09:06 EDTJKSJinkoSolar panels installed at Duke Energy's Capital Partners Solar Project, NC
JinkoSolar panels are being installed by SunEnergy 1 at the Duke Energy Renewables-owned Capital Partners Solar Project in eastern North Carolina. The solar project was announced as a partnership among three customers that will bring solar power from rural North Carolina to the urban settings of the Washington, D.C., institutions.
08:17 EDTSPWRSunPower upgraded at Raymond James
As previously reported, Raymond James upgraded SunPower to Outperform. The firm upgraded shares citing reasonable valuation and believes there is a chance the company makes a yieldco announcement next month. Price target is $35.
08:03 EDTSCTYSolarCity lowered pricing in California, says JPMorgan
JPMorgan says SolarCity lowered its pricing in California, implementing a fixed price of 15c per watt, down from a prior average of 17c. To reflect the change, SolarCity dropped the NPV of its average new residential deployment to $1.75 per watt from $2.19 historically, the firm notes. JPMorgan cut its Retained Value estimates and dropped its price target for SolarCity shares to $74 from $83. The firm believes the price change could be tied to the proposed compression of rate tiers in 2015, allowing the company to address a larger market. It keeps an Overweight rating on SolarCity.
07:30 EDTSPWRSunPower upgraded to Outperform from Market Perform at Raymond James
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07:01 EDTJKSJinkoSolar to supply 21.5MW of PV solar modules for Searchlight solar projects
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05:34 EDTCSIQCanadian Solar reports sale of 24.3 MWp of modules to EDF Renewable Energy
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05:24 EDTSPWRSunPower supplying 41 MW of high efficiency solar panels to La Compagnie du Vent
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October 10, 2014
16:18 EDTSPWRCompuware announces spin-off of Covisint
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October 9, 2014
09:25 EDTFSLRFirst Solar reiterated as a Sell at Goldman
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08:53 EDTSCTYSolarCity solar loans could be a game changer, says Roth Capital
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05:25 EDTCSIQCanadian Solar announces sale of 10 MW of solar modules to Conti Group
Canadian Solar announced that it supplied Conti/SunDurance with 10 MW of solar modules during Q3. For this 10 MW order, Canadian Solar delivered to the Conti Group in total 33,792 pieces of CS6X solar modules in 6 x 12 cell matrix with UL 1000V certificate. In the life span of 25 years, these modules will turn solar energy into 360,000 MWh of electricity, and displace CO2 emissions by 67,000 tons.
October 8, 2014
10:01 EDTSCTYSolarCity and Honda renew partnership to fund $50M in solar projects
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08:11 EDTSCTYSolarCity launch of MyPower expected but details a positive, says BofA/Merrill
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06:02 EDTSCTYSolarCity adds financing option in move to expand
SolarCity introduced MyPower today, a solar financing option that combines the low upfront cost and immediate utility savings of a power purchase agreement with the benefits of ownership. SolarCity customers pay for their MyPower solar loan similar to the way they pay for a solar PPAóbased on the energy the system produces from the sunóbut they retain ownership of the solar panels. MyPower's unique structure creates America's most affordable solar loanówith a lower cost than PPAs in many locations. MyPower can allow customers to pay as much as 40% less for solar power than utility power, and unlike other loans, MyPower allows customers to prepay their entire balance or prepay a portion of their solar loan to lower their monthly payments at any time, with no fees or penalties. Starting today, SolarCity will offer MyPower to customers in Arizona, California, Colorado, Connecticut, Hawaii, Massachusetts, New York and New Jersey, and ultimately plans to expand the product beyond its existing service territory.
05:27 EDTCSIQCanadian Solar announces $46M construction, term financing from Manulife
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October 6, 2014
13:15 EDTSCTYSolarCity slumps along with peers, levels to watch
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11:53 EDTYGE, CSIQ, SPWR, FSLRGT issues company specific, solar sell-off unwarranted, says Northland
Northland said it believes GT Advanced's (GTAT) bankruptcy filing is company specific and related to its non-solar opportunities and that the sell-off in other solar industry stocks after this news is unwarranted. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). The firm also confirmed that GT is a customer of Ultra Clean (UCTT) and that some of its growth potential with the GT may be muted near-term, but points out that the company required a full prepayment for its prior work with GT.
11:41 EDTSPWR, JKS, CSIQ, FSLRSolar companies sink after GT Advanced declares bankruptcy
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08:36 EDTSCTYSolarCity shares attractive after pullback, says Roth Capital
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07:04 EDTCSIQCanadian Solar updates Japanese pipeline in light of recent suspension
Canadian Solar provided an update on the status of its Japanese pipeline to clarify its position in light of recent announcements by Kyushu Electric Power to temporarily suspend grid connection approval pending evaluation of their respective grid capacity availability. Canadian Solar's late stage utility-scale project pipeline in Japan stood at 405MW as of the end of the second quarter of 2014. During the third quarter of 2014 the company successfully added 85.5MW of new projects to its portfolio, and increased its total late stage project pipeline in Japan to 490.5MW. Approximately 150MW these projects already have full grid connection approval, and are in the construction permitting stage. The company is currently actively evaluating over 200MW of additional projects for acquisition, and maintains its goal to increase its late-stage pipeline in Japan to approximately 550-600MW by the end of 2014. Kyushu has temporarily suspended grid-connection approvals pending an evaluation of its available grid capacity, which it expects to complete by the second quarter of 2015. Projects that have full grid connection approval, are not suspended, and are moving ahead according to plan. Ten of the Company's projects within the Kyushu area representing a total of 95.6 MW have received full grid connection approval. The company expects these ten projects to move ahead according to plan. Only one of the company's projects in the Kyushu area, namely, "Shibushi-Uchinokura" totaling 2.3 MW has not received full grid connection approval, and as a result is affected by the temporary suspension. Canadian Solar has three projects in the Tohoku area totaling 135MW. The Company continues to work with Tohoku to develop these projects, and at this point it expects them to eventually reach approval. These three projects are originally targeted to reach commercial operation in late 2016 or 2017, and therefore allow sufficient time to accommodate the utility's grid capacity study.
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