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Stock Market & Financial Investment News

News Breaks
March 18, 2014
16:59 EDTSCTYSolarCity says certain financial statements should not be relied on
On March 18, the Board of Directors of SolarCity and management of the company concluded, after discussion with SolarCity’s independent registered public accounting firm, Ernst & Young LLP, that the consolidated financial statements as of December 31, 2010 and 2011 and for the years then ended included in SolarCity’s Annual Report on Form 10-K for the fiscal year ended December 31, 2012, should no longer be relied upon as a result of (i) an error related to the presentation of non-cash stock based compensation costs in the consolidated statement of cash flows for the portion of such costs that were capitalized as part of the costs of solar energy systems leased and to be leased; and (ii) an error related to the classification of certain of the noncontrolling interests in subsidiaries after the company concluded that certain noncontrolling interests with redemption rights should be presented in temporary equity and not permanent equity as had previously been disclosed. These matters also impacted the 2013 interim and 2012 annual and interim consolidated financial statements referred to in our Form 8-K filed on March 3, 2014. The impact of the related restatements of the company’s previously filed consolidated financial statements will be explained in the Notes to Consolidated Financial Statements in the company’s Annual Report on Form 10-K for the year ended December 31, 2013, which the company anticipates to file on March 18.
News For SCTY From The Last 14 Days
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December 18, 2014
09:13 EDTSCTYSolarCity expands operations to Western Massachusetts
SolarCity is expanding its solar service to Western Massachusetts with a new operations center in Agawam. The new operations center is its fourth in Massachusetts. SolarCity will initially offer service to customers of National Grid and Western Massachusetts Electric in the region. There are approximately 30 staff working out of the Western Massachusetts operations center today and the company plans to fill an additional 50 positions for the facility.
07:13 EDTSCTYSolarCity, Canadian Solar called top 2015 solar picks at JPMorgan
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December 16, 2014
08:48 EDTSCTYSolarCity reiterated as a top pick at Goldman
Goldman reiterated SolarCity as a Conviction Buy and a top pick with an $88 price target given secular growth potential and its disruptive business model. The analyst said SolarCity's near-term improving cash flow visibility is underappreciated and sees significant upside to shares.

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