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Stock Market & Financial Investment News

News Breaks
December 4, 2012
05:37 EDTSPWR, TOSYYSunPower and Toshiba extend partnership through 2018
SunPower (SPWR) announced that is has extended its long-standing partnership with Toshiba (TOSYY) through 2018. Toshiba has sold SunPower solar panels since 2010 in the Japanese residential market. Under the terms of the master supply agreement, SunPower will provide more than 100 megawatts of its highest-efficiency residential solar panels annually exclusively to Toshiba. Toshiba will offer solar systems with SunPower's highest efficiency solar modules in the rapidly growing Japanese residential market. Since the company first partnered with Toshiba in 2010, it has delivered more than 150 MW of its high-performance solar panels.
News For SPWR;TOSYY From The Last 14 Days
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May 28, 2015
08:15 EDTSPWRSunPower selected by Californian school district for 22 MW of solar power
SunPower and the Kern High School District announced an agreement to design and build 22 MW of solar power systems at 27 district sites, the largest contracted commitment to solar power by any school district in the U.S. The project is expected to be complete by the end of 2016, and will be financed through a power purchase agreement.
May 26, 2015
15:23 EDTSPWRRBC says sell First Solar as earnings power overestimated
RBC Capital cut its rating on solar energy company First Solar (FSLR) to Underperform, its equivalent of a "sell" rating, in a note to investors earlier today. WHAT'S NEW: First Solar's earnings power is significantly below analysts' consensus estimate and the company's guidance, RBC Capital analyst Mahesh Sanganeria wrote. The company's profits will be limited due to the lower selling prices of its modules and its declining gross margin, the analyst stated. Moreover, even if demand for modules is very strong, First Solar's sales will be limited by its capacity, Sanganeria contended. Furthermore, First Solar's cost advantage over competing modules has eroded and may disappear completely, partly due to significant declines in polysilicon prices and manufacturing efficiency improvements, the analyst stated. Sanganeria downgraded the shares to Underperform from Sector Perform and lowered the price target on the stock to $34 from $54. WHAT'S NOTABLE: In contrast, UBS was upbeat on the outlook for another name in the solar sector, SunEdison (SUNE), in its own note to investors today. SunEdison is may begin paying a dividend and could expand into Canadian renewable projects, UBS analyst Julien Dumoulin-Smith wrote. The company may acquire Canadian assets for relatively cheap prices, said Dumoulin-Smith, who kept a $32 price target and Buy rating on SunEdison. PRICE ACTION: In afternoon trading, First Solar dropped 6.7% to $51.41 and SunEdison slipped 1.7% to $30.14. CORRECTION: This story corrects an earlier one to clarify that 8point3 Energy Partners is a growth-oriented limited partnership formed by First Solar and SunPower (SPWR) to own, operate and acquire solar energy generation projects. TerraForm Global is the diversified, dividend growth-oriented company formed to acquire clean energy generation assets from SunEdison.

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