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Stock Market & Financial Investment News

News Breaks
December 20, 2012
05:27 EDTJKSJinkoSolar to jointly invest and develop 200 MW PV project with Jinchuan Group
JinkoSolar announced that it has signed a strategic cooperation agreement with Jinchuan Group to jointly invest and develop a 200 MW photovoltaic, or PV, solar power plant in Jinchang, Gansu Province, China. Once connected to the grid, the project will become one of the Asia's largest independent PV solar power plants. With approximately RMB2B investment scale, the project has been approved by Gansu Development and Reform Commission and is expected to be completed and connected to the grid by June 2013. The PV solar power plant will complement the large industrial base and infrastructure Jinchuan Group has already built in the region with three thermal power plants.
News For JKS 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 19, 2015
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%.

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