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Stock Market & Financial Investment News

News Breaks
December 13, 2012
11:00 EDTSCTYSolarCity IPO indicated to open $9.05 on 265K shares
SolarCity (SCTY) priced 11.5M shares at $8.00. Goldman, Credit Suisse and BofA/Merrill acted as joint book running managers for the offering.
News For SCTY From The Last 14 Days
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July 30, 2015
09:14 EDTSCTYSolarCity should be bought at current levels, says Roth Capital
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08:26 EDTSCTYSolarCity price target raised to $76 from $72 at Canaccord
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July 29, 2015
16:18 EDTSCTYSolarCity expects to install 260 MW in Q3, 920 MW-1,000 MW in FY15
SolarCity provided the following operational guidance: Following the ramp in bookings and installation capacity in Q2, we exited the quarter at a monthly run rate that provides us with confidence in a significant step-up in our quarterly pace of installations. For Q3, we expect to install a record 260 MW, representing growth of 89% year-over-year. For the FY15, we are updating our guidance to 920–1,000 MW Installed. We consider a system “installed” essentially when construction is completed by SolarCity and “deployed” after Administrative Housing Judge inspection. Systems are typically inspected by numerous third parties one to several weeks after installation, and thus deployments tend to be lower than installations during periods of high growth. Because we are scaling our operations at a much faster pace than AHJs are scaling their inspection teams, inspection times are growing longer and we are experiencing greater difficulty in forecasting their timing. Nevertheless, our pace of installations is still coming in line with our original forecast at 920 MW-1,000 MW, implying year-over-year growth of between 83% and 98%. Going forward, we plan on basing all of our MW forecasts on installations rather than deployments."
16:15 EDTSCTYSolarCity sees Q3 EPS ($2.15)-($2.05), consensus ($1.59)
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16:11 EDTSCTYSolarCity reports Q2 EPS (23c), consensus ($1.57)
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July 27, 2015
09:07 EDTSCTYSolarCity Q2 outlook positive, says Roth Capital
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July 24, 2015
11:01 EDTSCTYSolarCity rises after analyst says second half outlook strong
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10:00 EDTSCTYOn The Fly: Analyst Upgrade Summary
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09:14 EDTSCTYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Amazon (AMZN), up 20.7%... Pandora (P), up 10.3%... Juniper (JNPR), up 9.1%... Visa (V), up 6.7%... Starbucks (SBUX), up 5%... Skyworks (SWKS), up 2.6%... American Airlines (AAL), up 2.1%. ALSO HIGHER: SolarCity (SCTY), up 2.5% after being upgraded to Outperform from Neutral at Baird. DOWN AFTER EARNINGS: Tripadvisor (TRIP), down 8.5%... Biogen (BIIB), down 14.1%.
06:34 EDTSCTYSolarCity upgraded to Outperform from Neutral at Baird
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July 21, 2015
09:10 EDTSCTYSolarCity has positive read through from Vivint deal, says Roth Capital
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July 20, 2015
16:22 EDTSCTYOn The Fly: Top stock stories for Monday
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12:08 EDTSCTYOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
11:27 EDTSCTYSunEdison acquisition implies higher SolarCity valuation, says Raymond James
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