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Stock Market & Financial Investment News

News Breaks
April 28, 2014
12:59 EDTTSL, JASO, SOL, CSIQ, YGE, JKSChinese solars slump following cautious Credit Suisse note
Shares of Chinese solar energy companies are retreating after Credit Suisse issued a cautious note on the sector to investors earlier today. WHAT'S NEW: After speaking with a number of companies in the Chinese solar energy sector, Credit Suisse analyst Patrick Jobin is more pessimistic about the ability of the Chinese government to meet its target of increasing its solar energy installations by 14 GW in 2014. He now expects the country to increase its solar energy output by 11.5 GW this year, down from his previous estimate of a 12 GW increase. Demand for solar energy is likely to rebound in the second half of 2014, but Beijing must make policy changes for this to happen, Jobin contended. In 2014, the market will differentiate between Chinese solar energy companies with access to project capital and permits, and those with challenges funding installation projects, the analyst wrote. Companies in the sector with access to both project capital and permits include JinkoSolar (JKS), Canadian Solar (CSIQ), and JA Solar (JASO), the analyst contended. Companies with challenges in either or both areas are Yingli Green Energy (YGE), ReneSola (SOL) and Trina Solar (TSL), Jobin stated. He reiterated an Outperform rating on JinkoSolar and kept Underperform ratings on Yingli and ReneSola. PRICE ACTION: In early afternoon trading, JinkoSolar fell 9% to $27, Canadian Solar tumbled 11% to $26.50, JA Solar sank 8% to $10, Yingli Green lost 3.5% to $3.50, ReneSolar slumped 6% to $2.80, and Trina Solar tumbled 11% to $11.15.
News For JKS;CSIQ;JASO;YGE;SOL;TSL From The Last 14 Days
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February 27, 2015
06:40 EDTJKSJinkoSolar volatility elevated into Q4 and outlook
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February 23, 2015
18:02 EDTCSIQ, TSL, JASOOn The Fly: After Hours Movers
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17:25 EDTJASO, TSL, CSIQFirst 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).
February 19, 2015
13:18 EDTYGE, JASO, CSIQ, TSLIsrael's SolarEdge to launch IPO
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13:04 EDTJKSDeutsche, 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%.
February 17, 2015
07:06 EDTCSIQCanadian Solar acquires six solar projects in UK
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05:29 EDTSOLReneSola expands LED lighting solutions division in U.S.
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