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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 24, 2015
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.
13:45 EDTTOTOpec may call emergency meeting if crude continues slide, FT says
According to Diezani Alison-Madueke, Nigeria's oil minister, Opec members have discussed holding an emergency meeting if crude prices continue to tumble, says the Financial Times. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
09:59 EDTTOTOn The Fly: Analyst Upgrade Summary
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08:01 EDTTOTTotal upgraded to Outperform from Sector Perform at Howard Weil
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February 22, 2015
11:59 EDTTOTUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. 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
February 20, 2015
08:43 EDTSPWRMorgan Stanley still ascribes a 75% probability of a SunPower Yield Co
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February 19, 2015
13:18 EDTSPWRIsrael's SolarEdge to launch IPO
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13:04 EDTSPWRDeutsche, Canaccord still upbeat on SolarCity despite Q1 guidance miss
The shares of SolarCity (SCTY) are falling after the company reported a higher than expected fourth quarter loss. However, Deutsche Bank and research firm Canaccord remained upbeat on the stock in notes to investors earlier today. Solarcity installs solar energy systems at residences and businesses. BACKGROUND: SolarCity reported a Q4 loss of ($1.33) per share, versus the consensus outlook for a ($1.27) per share loss. SolarCity's Q4 revenue, however, was roughly in-line with expectations and the company said that its backlog as of the beginning of 2015 was large enough to cover much of its expected installations for the first half of the year. Additionally, SolarCity reiterated its guidance for 920-1000MW of solar installations for 2015. SolarCity estimated, however, that its Q1 per share loss would come in at ($1.65)-($1.75), versus the consensus outlook for a ($1.25) per share loss. ANALYST REACTION: Deutsche Bank analyst Vishal Shah wrote that SolarCity had executed well, while demand for its installations is strong. Moreover, the company's cost reduction plan looks to be running ahead of schedule, and its 2015 shipments look poised to come in ahead of its guidance, Shah believes. The analyst did, however, write that SolarCity's Q4 bookings were "somewhat" below his expectations and declined versus Q3. Nonetheless, the analyst continued to identify the stock as one of his top picks in the solar sector and kept a $90 price target and Buy rating on the name. Also upbeat on SolarCity was Canaccord analyst Jed Dorsheimer. He raised his price target on the shares to $67 from $64 following its results. SolarCity has had record bookings over the last 30 days and the company should come close to setting a bookings record in Q1, the analyst wrote, adding that its deployments should ramp in Q2 and Q3 as seasonal factors subside. Dorsheimer kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, SolarCity fell 6.3% to $53.48. Other names in the solar sector also declined, with SunPower (SPWR) falling 1.8%, JinkoSolar (JKS) dropping 1.5%, and Vivint Solar (VSLR) losing 2.3%.
09:35 EDTSPWROption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
06:58 EDTTOTU.S. oil prices tumble after inventory data released, Reuters says
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February 18, 2015
18:22 EDTSPWRSolar stocks struggle in extended session after SolarCity results
Solar stocks are trading down in the extended session after SolarCity (SCTY) reported a larger fourth quarter loss than expected and guided to a first quarter loss well below consensus estimates. WHAT'S NEW: Solar city said adjusted non-GAAP earnings per share for Q4 was a loss of ($1.33) against estimates of a loss of ($1.27). Revenue for the quarter was in-line at $71.8M. The company also guided for a loss of ($1.75)-($1.65) per share in the current quarter which is below analysts' average estimates for a loss of ($1.25) per share. However, the company did note, " With end-market demand healthy and growing, our installation capacity steadily ramping and a majority of our financing needs secured for the year, we remain confident in achieving our guidance to deploy 920-1000MW in 2015." PRICE ACTION: Shares of SolarCity are down over 5% to $54.01 in the after-hours session. OTHERS TO WATCH: Other stocks in the solar space trading lower in the extended session include SunPower (SPWR), SunEdison (SUNE), Vivint Solar (VSLR), and First Solar (FSLR).
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