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Stock Market & Financial Investment News

News Breaks
February 28, 2013
10:21 EDTSPWR, TOTSunPower climbs after analyst says stock can continue run-up
Shares of solar energy company SunPower (SPWR), which have jumped about 175% in the last three months, are advancing again after Citigroup analyst Shahriar Pourreza wrote that the company's stock can advance further. SunPower has a number of positive catalysts, including greater investor interest in solar energy stocks and the expansion of third party financing for solar energy companies, the analyst stated in a note to investors earlier today. Moreover, SunPower's joint venture in Japan should generate significant growth and it is well-positioned to win a sizable share of new projects in the Middle East, which is expected to become a major player in solar energy, Pourreza contends. Finally, Total's (TOT) 66% stake in SunPower puts a floor under the stock and SunPower should benefit from its diverse product pipeline, added the analyst. Pourreza's price target on the shares was increased to $16 from $12 and the analyst maintained a Buy rating on the stock, which rose 80c, or 7%, to $12.50 in early trading.
News For SPWR;TOT From The Last 14 Days
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February 9, 2016
19:18 EDTSPWROn 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 EDTSPWRSolar 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%.
February 8, 2016
13:28 EDTTOTTotal starts up production at Laggan-Tormore in west of Shetland area
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February 4, 2016
15:39 EDTTOTWhite House 'clean transportation' plan proposes $10 per barrel fee on oil
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February 2, 2016
07:17 EDTTOTIran still struggling to finalize oil drilling contract terms, WSJ says
Iran is still having difficulty finalizing terms under which foreign energy companies can drill for oil there, the Wall Street Journal reports. Iranian oil officials canceled a conference scheduled for this month in London where new contracts for Western companies were supposed to be presented, with official blaming the cancellations on the inability to secure enough U.K. visas for the event, the report says. Another reason for the cancellation are conservative factions thinking that the contracts drawn up by president Hassan Rouhani's oil ministry are too generous to foreign entities, the report says, citing people familiar with the matter. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
05:33 EDTTOTTotal signs long-term agreement to supply LNG to Pertamina
Total has signed long-term liquefied natural gas, or LNG, sale and purchase agreements with state-owned Indonesian company Pertamina for the supply of LNG volumes increasing from 0.4M to 1M tonnes per year over a period of 15 years beginning 2020. Under the terms of the agreements, Total will purchase from 2020 around 0.4M tonnes per year of Pertamina's contracted LNG volumes from Corpus Christi LNG, currently under construction in the United States. In parallel, Total will supply from its global portfolio to Pertamina a volume growing over time from 0.4M to 1M tonnes per year of LNG.
February 1, 2016
13:49 EDTTOTS&P cuts rating on Shell, puts several other EU oil majors on watch
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January 28, 2016
14:11 EDTSPWRCalifornia PUC approves new net-metering rules
The California Public Utilities Commission voted 3-2 in favor of the proposed Net Energy Metering Successor Tariff.
10:55 EDTTOTOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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