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Stock Market & Financial Investment News

News Breaks
June 4, 2014
13:29 EDTFSLR, SPWRFirst Solar climbs after tariffs imposed on Chinese competitors
Shares of solar energy company First Solar (FSLR) are rising after the U.S. Department of Commerce announced that it would impose duties of 18.5%-35% on imports of many Chinese solar energy products. A number of research firms wrote that First Solar would benefit from the tariffs. WHAT'S NEW: In a preliminary decision, the Commerce Department imposed duties on many Chinese solar energy imports. Additionally, the department closed a loophole by imposing the tariffs on products whose main parts come from China, but are assembled in other countries. While today's move by the Commerce Department is preliminary and is subject to changes later this year, the U.S. will begin collecting the tariffs before a final decision is made permanent, The New York Times reported. ANALYST REACTION: In a note to investors earlier today, Credit Suisse analyst Patrick Jobin wrote that the tariffs were positive for First Solar. The import duties will make First Solar's panels more cost competitive in the U.S., since its panels will not be subject to the duties, the analyst explained. Another company whose panels are likely to become more competitive in the U.S. as a result of the tariffs is SunPower (SPWR), Jobin believes. Meanwhile, Northland Securities analyst Colin Rusch wrote that First Solar and SunPower would both "clearly" benefit from the ruling. WHAT'S NOTABLE: Also today, an Indian court delayed until July 7 a hearing on First Solar's challenge of New Dehli's preliminary determination that the company had dumped solar panels in the Indian market, according to Bloomberg. PRICE ACTION: In mid-afternoon trading, First Solar rose 5% to $66, while SunPower jumped 8% to $35.
News For FSLR;SPWR From The Last 14 Days
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July 22, 2014
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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July 18, 2014
12:48 EDTFSLR, SPWRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
July 15, 2014
07:04 EDTFSLR, SPWRWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
July 14, 2014
11:16 EDTFSLR, SPWRWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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July 11, 2014
14:12 EDTFSLRFirst Solar abandons huge China project, Bloomberg reports
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