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Stock Market & Financial Investment News

News Breaks
February 1, 2013
14:21 EDTSCTYPeter J. Rive reports 5.61% passive stake in SolarCity
News For SCTY From The Last 14 Days
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March 4, 2015
06:07 EDTSCTYSolarCity files lawsuit against Arizona utility for antitrust violations
SolarCity Corporation filed a lawsuit late Monday in the United States District Court for the District of Arizona, asking the court to stop Arizona utility Salt River Project's anti-competitive behavior. The suit specifically pertains to SRP's pricing plan, which was approved by SRP's board on February 26. In a blog post, SolarCity explains, "Last Thursday, Arizona utility Salt River Project approved a new pricing plan designed to punish customers who choose to go solar. Under the new plan, SRP customers who generate their own power have to pay additional 'distribution charges' and 'demand charges' that other SRP customers do not. These discriminatory penalties add up to hundreds of dollars per year, and make a competitive rooftop solar business impossible within SRP territory. On Monday, we responded: we filed a lawsuit in federal court in Arizona, asking the court to stop SRPís anti-competitive behavior.... SRP has sabotaged the ability of Arizona consumers to make this choice if they happen to live in SRP territory. We can already see the intended effects: After the effective date of SRPís new plan, applications for rooftop solar in SRP territory fell by 96%... The lawsuit we filed today is a necessary response to this behavior. We would much rather devote our energy and resources to the business of building, selling, and leasing solar energy systems that Arizonans want. But we will not sit idly by while Arizona and its reputation as a business-friendly state bear the heavy burden of unlawful abuse of monopoly power."
March 3, 2015
05:58 EDTSCTYSolarCity implied volatility of 45 at lower end of index mean range
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March 2, 2015
09:11 EDTSCTYSolarCity shares should be bought says Roth Capital
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February 26, 2015
09:28 EDTSCTYSolarCity creates fund to finance $750M solar projects, Google invests $300M
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February 23, 2015
18:02 EDTSCTYOn The Fly: After Hours Movers
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17:25 EDTSCTYFirst 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 partyís 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
13:04 EDTSCTYDeutsche, 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 EDTSCTYOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
09:32 EDTSCTYSolarCity shares may be range-bound after Q4 miss, says Roth Capital
Roth Capital believes SolarCity shares may be range-bound following the company's "modest" miss in Q4. Roth continues to view SolarCity as the best-in-class player and recommends accumulating the stock opportunistically. It reiterates a Buy rating on the name with a $98 price target.
09:12 EDTSCTYOn The Fly: Pre-market Movers
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07:39 EDTSCTYSolarCity price target raised to $67 from $64 at Canaccord
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06:37 EDTSCTYSolarCity Q4 results show 'robust' demand environment, says Deutsche Bank
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