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Stock Market & Financial Investment News

News Breaks
January 3, 2013
10:25 EDTNFX, SPWR, LM, VC, EWT, IRMHigh options volume today: IRM, EWT, FSL, SPWR, VC, LM, NFX
News For IRM;EWT;SPWR;VC;LM;NFX From The Last 14 Days
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February 24, 2015
16:50 EDTNFXNewfield Exploration reports Q4 EPS ex-items 38c, consensus 44c
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16:42 EDTSPWROn The Fly: Closing Wrap
Stocks on Wall Street began the day almost unchanged as investors awaited the testimony from Federal Reserve Chair Janet Yellen before a Senate panel. Following her prepared remarks, which suggested the central bank will not rush to raise interest rates, buyers stepped in to push the market higher. The Dow moved to all-time highs, as did the S&P, while the Nasdaq extended its most recent streak that saw the index close higher for nine consecutive sessions for the first time that has happened since 2009. ECONOMIC EVENTS: In the U.S., Federal Reserve Chair Janet Yellen stated in prepared testimony to Congress that the central bank considers it "unlikely" that economic conditions will warrant an increase in the target range for the federal funds rate for "at least the next couple" of FOMC meetings. Yellen also said that while the drop in oil prices will have negative effects on energy producers and will probably result in job losses in this sector, it will likely be a significant overall net positive for the U.S. economy. The S&P Case-Shiller 20-city house price index reported a seasonally adjusted monthly increase of 0.9%, versus expectations for an increase of 0.6%. Markit's services PMI for February came in at 57.0, versus consensus of 54.5. The Conference Board consumer confidence index declined in February to 96.4, which was down from last month's revised 103.8 figure and below the consensus 99.5 forecast. The Richmond Fed manufacturing index for February came in at 0, versus the consensus expectation for a reading of 6. In Europe, eurozone finance ministers approved Greece's reform proposals and extended the country's bailout program by four more months. COMPANY NEWS: Home Depot (HD) advanced $4.47, or 3.98%, to $116.75 after the Dow member's earnings beat expectations. The home improvement giant also hiked its quarterly dividend by 26% and authorized an $18B share repurchase program. MAJOR MOVERS: Among the notable gainers was SunPower (SPWR), which rose $5.00, or 17.99%, to $32.80 after its quarterly results topped expectations and the company announced that its in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar shares also advanced $5.06, or 10.19%, to $54.70 during the session, though its shares are fractionally lower in after-hours trading after the company issued its own earnings report. Among the noteworthy losers was Rosetta Resources (ROSE), which fell $3.29, or 15.04%, to $18.58 after its weaker than expected Q4 report and lowered guidance was followed by at least five analyst downgrades of its stock. Also lower were shares of Wynn Resorts (WYNN), which slid $7.33, or 4.75%, to $147.00 after reports indicated that Macau's government views overcrowding from tourists as a serious problem and plans to review the mainland’s individual visit scheme with authorities after Chinese New Year. INDEXES: The Dow rose 92.35, or 0.51%, to 18,209.19, the Nasdaq gained 7.15, or 0.14%, to 4,968.12, and the S&P 500 added 5.82, or 0.28%, to 2,115.48.
12:42 EDTSPWROn The Fly: Midday Wrap
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09:35 EDTSPWRActive equity options trading on open
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08:56 EDTSPWROn The Fly: Pre-market Movers
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08:03 EDTSPWRSunPower sees Q1 non-GAAP EPS 5c-15c, consensus 25c
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08:01 EDTSPWRSunPower reports Q4 non-GAAP EPS 26c, consensus 24c
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06:09 EDTSPWRJPMorgan positive on First Solar, SunPower joint venture talks
JPMorgan says its initial view is positive of the First Solar (FSLR), SunPower (SPWR) advanced talks to form a joint venture. The firm believes the initial portfolio of the combined YieldCo should be 1.2GW or more, which it thinks would support "strong" dividend growth. It has an Overweight rating on both names.
February 23, 2015
18:02 EDTSPWROn The Fly: After Hours Movers
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17:25 EDTSPWRFirst 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 EDTSPWRFirst Solar up about 10% following announcement of joint YieldCo with SunPower
SunPower is up about 12% on the news.
16:33 EDTSPWRFirst 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.
February 20, 2015
08:43 EDTSPWRMorgan Stanley still ascribes a 75% probability of a SunPower Yield Co
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February 19, 2015
15:32 EDTIRMNotable companies reporting before tomorrow's open
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13:18 EDTSPWRIsrael's SolarEdge to launch IPO
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13:04 EDTSPWRDeutsche, 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
18:22 EDTSPWRSolar 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).
10:05 EDTLMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico Eagle (AEM) upgraded to Overweight from Neutral at JPMorgan... Amarin (AMRN) upgraded to Buy from Neutral at SunTrust... Capital Product (CPLP) upgraded to Accumulate from Neutral at Global Hunter... Carlyle Group (CG) upgraded to Buy from Neutral at Citigroup... Danone (DANOY) upgraded to Neutral from Underperform at Exane BNP Paribas... Express (EXPR) upgraded on lower promotional activity at Piper Jaffray... Kforce (KFRC) upgraded to Outperform from Market Perform at Avondale... Legg Mason (LM) upgraded to Buy from Hold at Jefferies... Rackspace (RAX) upgraded following Q4 results at Pacific Crest... Rosetta Resources (ROSE) upgraded to Buy from Neutral at Global Hunter... SeaChange (SEAC) upgraded to Buy from Hold at Noble Financial... Valero (VLO) upgraded to Outperform from Neutral at Credit Suisse... Veeco (VECO) upgraded to Buy from Hold at Noble Financial... Wolverine World Wide (WWW) upgraded to Neutral from Underperform at Sterne Agee.
05:38 EDTLMLegg Mason upgraded to Buy from Hold at Jefferies
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