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Stock Market & Financial Investment News

News Breaks
February 1, 2013
14:23 EDTSCTYLyndon Rive reports 5.61% passive stake in SolarCity
News For SCTY From The Last 14 Days
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February 9, 2016
19:18 EDTSCTYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Limelight Networks (LLNW), up 20%... Akamai Technologies (AKAM), up 15.7%... Marketo (MKTO), up 9.9%... Paycom Software (PAYC), up 13.8%... A10 Networks (ATEN), up 7.3%... Prospect Capital (PSEC), up 8.6%... Nuance Communications (NUAN), up 6.5%... Panera Bread (PNRA), up 2.8%. ALSO HIGHER: Empire District Electric (EDE), up 14.8% after Algonquin Power will acquire the company for $34.00 per share. DOWN AFTER EARNINGS: SolarCity (SCTY), down 32.6%... LeapFrog (LF), down 2%... Orion Energy Systems (OESX), down 23.8%... Seattle Genetics (SGEN), down 3.6%... Sangamo Biosciences (SGMO), down 7.1%... Disney (DIS), down 3.4%... Demandware (DWRE), down 2.6%. ALSO LOWER: Sunrun (RUN) is down 6.9%, Solaredge Technologies (SEDG) is down 6.6%, SunEdison (SUNE) is down 5.9%, Canadian Solar (CSIQ) is down 2.9%, SunPower (SPWR) is down 2.9%, and Tesla (TSLA) is down 2.2% following SolarCity's fourth quarter results.
17:53 EDTSCTYSolar stocks drop after SolarCity reports Q4 results
Solar stocks followed SolarCity (SCTY) down after the company reported its fourth quarter results and gave guidance for the first quarter and fiscal 2016. WHAT'S NEW: SolarCity reported Q4 earnings per share of ($2.37) against analyst expectations of ($2.59), and Q4 revenue of $115M, against consensus estimates of $105.62M. The company reported Q4 installations up 54% to 272 mega watts. Q4 commercial installations were up 82% to 51 MW while residential installations were up 49% to 221 MW. Operating Lease and Solar Energy Incentive revenue was up 53% to $75M in Q4. SolarCity sees Q1 adjusted EPS ($2.65)-($2.55), against analyst expectations of ($2.36). The company sees Q1 installations up 18% year-over-year to 180 MW. This represents a higher-than-usual seasonal slowdown due to decision to end Nevada operations and renewed focus on cash conversion cycle, particularly in longer lead-time commercial projects. The company also continues to target 1.25 gigawatts installed in FY16. The company noted that the ITC extension provides growth tailwinds. WHAT'S NOTABLE: In the earnings press release, management noted, "We closed out a strong 2015 with installations growing 73% to a record 870 MW and costs falling to new lows, though we fell short of our installation goals more than once. We are not happy with these results, and recognize our need to revamp our guidance methodology to avoid any potential shortfalls going forward. Notably, residential has consistently performed above our expectations over the last year, and we missed guidance largely on commercial installations. While we had expected the introduction in mid-2015 of a new guidance methodology that incorporated only commercial projects that were already under construction to minimize risk, clearly this wasn't sufficient. With larger projects, particularly ground-mount, this methodology still leaves sufficient time for delays to push construction past deadlines. Going forward, we plan on removing from guidance any large projects with construction deadlines late in the quarter." PRICE ACTION: Shares of SolarCity plunged 32.5% in after-hours trading to $17.79. OTHERS TO WATCH: Sunrun (RUN) is down 7%, Solaredge Technologies (SEDG) is down 8.2%, SunEdison (SUNE) is down 5.9%, Canadian Solar (CSIQ) is down 4.3%, SunPower (SPWR) is down 5.9% following SolarCity's Q4 results. Elon Musk's other publicly traded company, Tesla (TSLA), is also down after-hours by 3.1%.
16:25 EDTSCTYSolarCity backs FY16 installations 1.25 GW
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16:23 EDTSCTYSolarCity reports Q4 installations up 54% to 272 MW
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16:16 EDTSCTYSolarCity sees Q1 adjusted EPS ($2.55)-($2.65), consensus ($2.36)
Sees Q1 installations 180 MW, representing a higher-than-usual seasonal slowdown due to decision to end Nevada operations and renewed focus on cash conversion cycle, particularly in longer lead-time commercial projects. Sees GAAP operating expenses $230M-$240M.
16:16 EDTSCTYSolarCity drops sharply after earnings
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16:12 EDTSCTYSolarCity reports Q4 EPS ($2.37), consensus ($2.59)
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14:36 EDTSCTYNotable companies reporting after market close
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February 8, 2016
15:12 EDTSCTYSolarCity volatility elevated into Q4 and outlook
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07:26 EDTSCTYDeutsche reiterates Buy rating, $64 target on SolarCity
Deutsche Bank analyst Vishal Shah reiterates a Buy rating on SolarCity with a $64 price target in a research note addressing recent investor concerns. The seller of renewable energy closed Friday up 8c to $29.57. The shares are likely pricing in a worst case scenario, Shah tells investors. He believes the recent five-year extension of the federal Investment Tax Credit for solar could add $30 of incremental equity value. The analyst also believes concerns around SolarCity's availability of capital to achieve 2016 installation targets maybe overblown. The company has sufficient access to tax equity markets and can sell operating assets to achieve growth objectives, Shah contends.
February 5, 2016
09:30 EDTSCTYSolarCity added to Conviction List at Avondale
February 2, 2016
16:19 EDTSCTYElon Musk boosts SolarCity stake to 21.7%
Elon Musk disclosed an increased stake of 21.7% in SolarCity, which represents 21.28M shares, as of December 31, 2015. Musk, who is Chairman of the Board and founder of the company, holds the shares in a revocable trust.
February 1, 2016
05:13 EDTSCTYSolarCity implied volatility of 117 at upper end of index mean range
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January 29, 2016
08:43 EDTSCTYSolarCity and Sunrun to benefit from CPUC decision, says Morgan Stanley
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07:48 EDTSCTYSolarCity to benefit from new California rule, says Stifel
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January 28, 2016
18:30 EDTSCTYSolarCity issues statement on California net metering decision
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16:40 EDTSCTYOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
14:11 EDTSCTYCalifornia PUC approves new net-metering rules
The California Public Utilities Commission voted 3-2 in favor of the proposed Net Energy Metering Successor Tariff.
13:17 EDTSCTYSolarCity views MLPs better than REITs, Environmental Finance reports
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08:36 EDTSCTYAttractive risk/reward developing in SolarCity, says Roth Capital
Roth Capital says that an attractive risk/reward ratio is developing in SolarCity, whose stock has dropped about 40% this year. However, the firm says that the company "will not be out of the woods" until California finalizes its net metering rules. The firm thinks the final net metering rules will be positive for SolarCity, but it's unsure about when the rules will be finalized, although it thinks they could be finalized later today. It keeps a $65 price target and Buy rating on SolarCity.
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