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Stock Market & Financial Investment News

News Breaks
June 25, 2014
10:15 EDTJKS, SOL, SPWR, YGESunPower, 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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November 25, 2014
05:30 EDTYGEYingli Green Energy supplies 72 MW of solar panels to Solarcentury in UK
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November 24, 2014
15:20 EDTYGENotable companies reporting before tomorrow's open
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09:23 EDTYGEOn The Fly: Pre-market Movers
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08:44 EDTJKS, SOLChina, U.S. still in solar deal talks, says Roth Capital
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07:04 EDTJKSJinkoSolar to supply 7MW solar PV modules to Almacen Sustentable in Mexico
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06:30 EDTYGEYingli Green to supply 120 MW of solar panels to project in France
Yingli Green Energy announced that it has signed a landmark agreement to supply 120 MW of YGE 72 Cell solar panels for a 300 MW project in France. Upon completion this will be the largest solar power park in Europe. According to the agreement, Yingli Solar will ship more than 393,000 multicrystalline panels between December 2014 and June 2015. The solar park located in Cestas in the South West of France, covering 250 hectares of land divided in 25 solar plants, is expected to be connected to the grid in October 2015.
November 21, 2014
08:30 EDTJKSJinkoSolar 2015 earnings can beat expectations, says Roth Capital
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06:28 EDTYGE, SPWRNRG Energy to seek large cuts in carbon emissions
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November 20, 2014
15:10 EDTYGEYingli Green Energy volatility flat into Q3 and outlook
Yingli Green Energy December call option implied volatility is at 73, January is at 75, March is at 58; compared to its 26-week average of 74 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 25.
06:34 EDTJKSJinkoSolar sees 2014 total solar module shipments 2.9GW-3.2GW
06:34 EDTJKSJinkoSolar sees Q4 total solar module shipments 1,030MW-1,120MW vs. 708MW in Q3
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06:33 EDTJKSJinkoSolar reports Q3 EPS $1.36, consensus 71c
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November 19, 2014
18:06 EDTSPWRSunPower announces reorganization, sees $15M-$25M restructuring charge in Q4
SunPower disclosed in a regulatory filing that on November 14, SunPower announced a reorganization plan aimed towards realigning resources consistently with SunPower's global strategy and improving its overall operating efficiency and cost structure. In connection with this plan, which is expected to be completed by the end of fiscal 2015, SunPower expects approximately 85 to 115 employees to be affected, primarily in Europe, representing approximately 1% to 2% of SunPower's global workforce. SunPower expects to incur restructuring charges totaling approximately $15M to $25M, principally composed of severance benefits, lease and related termination costs, and other associated costs. A substantial portion of such charges are expected to be incurred in the Q4, and SunPower expects more than 90% of total charges to be cash. The actual timing and costs of the plan may differ from SunPower’s current expectations and estimates due to a number of factors, including uncertainties related to required consultations with employee representatives as well as other local labor law requirements and mandatory processes in the relevant jurisdictions.
November 18, 2014
12:59 EDTSPWR, SOL, JKSChinese solars advance following JA Solar results
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07:05 EDTJKSJinkoSolar closes $225M investment led by CDB and MGCIF
JinkoSolar Holding announced that it closed the private equity investment led by China Development Bank International, or CDB and the Macquarie Greater China Infrastructure Fund, or MGCIF, a fund managed by Macquarie Infrastructure and Real Assets, of an aggregate amount of $225M in the Company's downstream solar power project business. JinkoSolar Power Engineering Group, a subsidiary of JinkoSolar that develops and operates its downstream solar power project business, entered into definitive share purchase agreements with each of CDBI, MGCIF and New Horizon Capita. Under the share purchase agreements, CDBI, MGCIF and New Horizon have agreed to invest an aggregate amount of $225M in Jinko Power. The three investors hold a total of approximately 45% of Jinko Power's equity interest. They will provide support and additional resources to facilitate the spin off and listing of Jinko Power and the downstream business development in terms of project financing, project development, project operation and global green energy network.
November 17, 2014
15:25 EDTSPWRSunPower call activity attributed to takeover speculation
SunPower November 28 and 28.5 call activity is attributed to takeover speculation. November call option implied volatility is at 60, November is at 53, December is at 89, January is at 51; compares to its 26-week average of 55 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
15:21 EDTSPWRSunPower turns negative following SolarCity segment on FBN
Shares of SunPower (SPWR) briefly spiked in afternoon trading after Liz Claman of Fox Business News stated earlier on her Twitter feed: "The sun attracts billionaires! @SunPower has @WarrenBuffett investing, @solarcity has @elonmusk in." Claman appeared to have been referring to Buffett's prior investment in SunPower's 579-megawatt Solar Star development, not a new investment in its stock. The anchor spoke with SolarCity (SCTY) CEO Lyndon Rive on the network and none of the discussion focused on new events regarding Buffett or SunPower, which is now down 1% in afternoon trading near $27.24.
15:03 EDTSPWRWarren Buffett investing in SunPower, FBN's Claman reports
Fox Business News' Liz Claman stated earlier on her Twitter feed: "The sun attracts billionaires! @SunPower has @WarrenBuffett investing, @solarcity has @elonmusk in." Reference Link
15:00 EDTSPWRRumor: SunPower strength attributed to takeover speculation
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06:34 EDTSPWRSunPower outlook only 'optically' soft, says Citigroup
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