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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:15 EDTSOL, SPWR, YGE, JKSSunPower, peers advance after analyst ups price target
Shares of solar energy company SunPower (SPWR) and other names in the sector are climbing after research firm RW Baird increased its price target on SunPower to $48 from $42. Sunower develops solar power plants and sells solar equipment. WHAT'S NEW: SolarCity's (SCTY) decision to begin manufacturing solar panels, via its acquisition of privately held solar panel maker Silevo, further validates SunPower's business model, Baird analyst Ben Kallo wrote in a note to investors earlier today. SunPower should benefit from increasing demand for solar panels, as well as cost reductions and capacity expansion, the analyst predicted. SunPower should also benefit from increases in the efficiency of its modules and sales of more of its projects, Kallo believes. Meanwhile, the company should create value for shareholders over time by either selling its projects or placing them in a yieldco, and by potentially spinning off its residential business, the analyst believes. Yieldcos are subsidiaries of energy companies that own power plants and projects and typically trade on stock exchanges. Kallo kept an Outperform rating on SunPower. WHAT'S NOTABLE: Earlier this month, JPMorgan and Brean Capital downgraded SunPower based on valuation. These downgrades ignore SunPower's long-term value, Kallo contended in his note today. PRICE ACTION: In early trading, SunPower climbed 2% to $40, JinkoSolar (JKS) gained 1% to $29.50, Yingli Green Energy (YGE) advanced 1.5% to $3.60, and ReneSola (SOL) gained 1% to $2.90.
News For SPWR;JKS;YGE;SOL From The Last 14 Days
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March 2, 2015
07:13 EDTJKSJinkoSolar sees FY15 total solar module shipments 3.3-3.8 GW
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07:12 EDTJKSJinkoSolar sees Q1 total solar module shipments 710-780 MW
For the first quarter of 2015, the company estimates total solar module shipments to be in the range of 710 MW to 780 MW, which includes 550 MW to 600 MW module shipments to third parties and 160 MW to 180 MW for its own downstream projects. Revenues will not be recognized for the modules shipped to its own downstream projects as required by U.S. GAAP.
07:12 EDTJKSJinkoSolar reports Q4 total solar product shipments amounted to 838.2 MW
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07:12 EDTJKSJinkoSolar reports Q4 non-GAAP EPS $1.00, consensus 87c
Reports Q4 revenue $478.9M, consensus $488.73M
05:33 EDTYGEYingli Green Energy extends FC Bayern Youth Cup to Thailand
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February 27, 2015
16:22 EDTSPWRStocks have another winning week after Greek deal, Yellen reassurance
Stocks ended higher this week after the euro zone sealed its deal to extend Greece's bailout and Fed chair Janet Yellen reiterated that the central bank would take a patient approach to raising interest rates. MACRO NEWS: Last Friday afternoon, Greece reached a framework deal with its euro zone partners to extend its bailout by four months, contingent on a reform proposal being accepted. The proposals were accepted by the EU early this week... In testimony before Congress, Janet Yellen reiterated that the Federal Reserve can remain patient in deciding when to hike interest rates... U.S. economic data was mixed, as the Q4 GDP growth revision, durable goods orders for January, and an index of consumer sentiment beat expectations, but weekly jobless claims and existing home sales for January missed expectations... Somewhat positive economic data came out of China, as the flash HSBC/Markit Purchasing Managers' Index was 50.1, representing a four month high. However, China's export orders declined at the fastest rate in 20 months. COMPANY NEWS: Drug maker Valeant (VRX) agreed to buy Salix (SLXP), which develops gastrointestinal products, for $158 per share. In another development on the M&A front, Bloomberg reported that HP (HPQ) is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), which provides Wi-Fi products. Additionally, PTC Therapeutics (PTCT) rose after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN)... Solar energy company SunPower (SPWR) was one of this week's big winners after its quarterly results topped expectations, and the company announced that it's in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar also rallied after the news... Among the noteworthy losers this week was Lumber Liquidators (LL), after the company reported Q4 earnings per share and revenue that missed consensus expectations. The flooring retailer also warned on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light and disclosed in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act... Companies that rose after reporting their quarterly results included Home Depot (HD) and Gap (GPS), while HP, TASER (TASR), and J.C. Penney (JCP) dropped after reporting their results. INDEXES: For the week, the Dow was down 0.04% to 18,132.70, the Nasdaq was up 0.15% to 4,963.53, and the S&P 500 was down 0.27% to 2,104.50.
06:40 EDTJKSJinkoSolar volatility elevated into Q4 and outlook
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February 25, 2015
09:19 EDTSPWRSunPower price target raised to $45 on YieldCo upside at Morgan Stanley
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February 24, 2015
16:42 EDTSPWROn The Fly: Closing Wrap
Stocks on Wall Street began the day almost unchanged as investors awaited the testimony from Federal Reserve Chair Janet Yellen before a Senate panel. Following her prepared remarks, which suggested the central bank will not rush to raise interest rates, buyers stepped in to push the market higher. The Dow moved to all-time highs, as did the S&P, while the Nasdaq extended its most recent streak that saw the index close higher for nine consecutive sessions for the first time that has happened since 2009. ECONOMIC EVENTS: In the U.S., Federal Reserve Chair Janet Yellen stated in prepared testimony to Congress that the central bank considers it "unlikely" that economic conditions will warrant an increase in the target range for the federal funds rate for "at least the next couple" of FOMC meetings. Yellen also said that while the drop in oil prices will have negative effects on energy producers and will probably result in job losses in this sector, it will likely be a significant overall net positive for the U.S. economy. The S&P Case-Shiller 20-city house price index reported a seasonally adjusted monthly increase of 0.9%, versus expectations for an increase of 0.6%. Markit's services PMI for February came in at 57.0, versus consensus of 54.5. The Conference Board consumer confidence index declined in February to 96.4, which was down from last month's revised 103.8 figure and below the consensus 99.5 forecast. The Richmond Fed manufacturing index for February came in at 0, versus the consensus expectation for a reading of 6. In Europe, eurozone finance ministers approved Greece's reform proposals and extended the country's bailout program by four more months. COMPANY NEWS: Home Depot (HD) advanced $4.47, or 3.98%, to $116.75 after the Dow member's earnings beat expectations. The home improvement giant also hiked its quarterly dividend by 26% and authorized an $18B share repurchase program. MAJOR MOVERS: Among the notable gainers was SunPower (SPWR), which rose $5.00, or 17.99%, to $32.80 after its quarterly results topped expectations and the company announced that its in advanced talks to form a joint YieldCo vehicle with peer First Solar (FSLR). First Solar shares also advanced $5.06, or 10.19%, to $54.70 during the session, though its shares are fractionally lower in after-hours trading after the company issued its own earnings report. Among the noteworthy losers was Rosetta Resources (ROSE), which fell $3.29, or 15.04%, to $18.58 after its weaker than expected Q4 report and lowered guidance was followed by at least five analyst downgrades of its stock. Also lower were shares of Wynn Resorts (WYNN), which slid $7.33, or 4.75%, to $147.00 after reports indicated that Macau's government views overcrowding from tourists as a serious problem and plans to review the mainland’s individual visit scheme with authorities after Chinese New Year. INDEXES: The Dow rose 92.35, or 0.51%, to 18,209.19, the Nasdaq gained 7.15, or 0.14%, to 4,968.12, and the S&P 500 added 5.82, or 0.28%, to 2,115.48.
12:42 EDTSPWROn The Fly: Midday Wrap
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09:35 EDTSPWRActive equity options trading on open
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08:56 EDTSPWROn The Fly: Pre-market Movers
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08:03 EDTSPWRSunPower sees Q1 non-GAAP EPS 5c-15c, consensus 25c
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08:01 EDTSPWRSunPower reports Q4 non-GAAP EPS 26c, consensus 24c
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06:09 EDTSPWRJPMorgan positive on First Solar, SunPower joint venture talks
JPMorgan says its initial view is positive of the First Solar (FSLR), SunPower (SPWR) advanced talks to form a joint venture. The firm believes the initial portfolio of the combined YieldCo should be 1.2GW or more, which it thinks would support "strong" dividend growth. It has an Overweight rating on both names.
February 23, 2015
18:02 EDTSPWROn The Fly: After Hours Movers
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17:25 EDTSPWRFirst 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 party’s 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).
16:41 EDTSPWRFirst Solar up about 10% following announcement of joint YieldCo with SunPower
SunPower is up about 12% on the news.
16:33 EDTSPWRFirst Solar, SunPower plan to partner to form joint YieldCo vehicle
First Solar (FSLR) and SunPower (SPWR) 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 party’s board approval and regulatory approval. There is no assurance that the YieldCo will be formed or that the IPO will be consummated or that any other transaction will occur.
February 20, 2015
08:43 EDTSPWRMorgan Stanley still ascribes a 75% probability of a SunPower Yield Co
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