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Stock Market & Financial Investment News

News Breaks
January 2, 2013
08:05 EDTSPWRMidAmerican Solar acquires solar development from SunPower
MidAmerican Solar, a subsidiary of MidAmerican Renewables, and SunPower announced MidAmerican Solar's acquisition from SunPower of the 579-megawatt Antelope Valley Solar Projects, two co-located projects in Kern and Los Angeles Counties in Calif. Together, the two combined projects will form the largest permitted solar photovoltaic power development in the world and will create an estimated 650 jobs during construction. In addition, SunPower will be the engineering, procurement and construction contractor and will operate and maintain the facility via a multiyear services agreement. Construction of the solar project is scheduled to begin in first quarter 2013, with the plants expected to be complete by year-end 2015.
News For SPWR From The Last 14 Days
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January 30, 2015
12:12 EDTSPWRSeveral solar stocks rise following RBC upgrades
A number of solar energy stocks are rising after RBC Capital upgraded three names in the sector to Outperform from Sector Perform in a note to investors today. WHAT'S NEW: RBC Capital analyst Mahesh Sanganeria upgraded shares of SunPower (SPWR) to Outperform from Sector Perform. New plants being developed by the company should increase its manufacturing capacity, enabling it to benefit from demand increases, the analyst stated, noting that the company has been unable to keep pace with demand. Meanwhile, SunPower could generate $90M-$100M in cash annually and $70M-$80M in cash available for distribution if it forms a yieldco, the analyst estimated. A yieldco would increase SunPower's value by $1.9B, according to Sanganeria. Yieldcos are subsidiaries of energy companies that own power plants and projects and typically trade on stock exchanges. The analyst raised his price target on SunPower to $36 from $35. Sanganeria also upgraded two Chinese solar companies, JA Solar (JASO) and Trina Solar (TSL). JA Solar should be able to outperform the overall solar market by selling more of its products to markets with higher prices, as well as selling a higher percentage of solar modules that attract higher prices, the analyst believes. Global solar installations should increase in the low to mid teen percentage levels, noted the analyst, who raised his price target on JA Solar to $13 from $12. As for Trina Solar, Sanganeria expects the company to benefit from its strong balance sheet, which should help it expand its business. Additionally, the Chinese company should benefit from stable margins, as it cuts costs faster than solar prices decline, according to Sanganeria. Finally, Trina should be able to increase its profit margins in the longer term by building more solar power plants, wrote the analyst, noting that the company's U.K. plants achieved 20% gross margins, above the company's overall mid-teen percentage margins. Sanganeria raised his price target on the name to $13 from $12. OTHERS TO WATCH: Other publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), and Yingli Green Energy (YGE). PRICE ACTION: In early afternoon trading, SunPower climbed 1% to $24.25, Trina Solar gained 2% to $9.05, and JA Solar gained 2% to $8.
10:00 EDTSPWROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abbott (ABT) upgraded to Buy from Neutral at BofA/Merrill... BAE Systems (BAESY) upgraded to Buy from Hold at Cantor... Boston Scientific (BSX) upgraded to Outperform from Market Perform at BMO Capital... Bottomline Technologies (EPAY) upgraded to Buy from Hold at Craig-Hallum... Capital Bank (CBF) upgraded to Buy from Hold at Sandler ONeill... Centrica PLC (CPYYY) upgraded to Neutral from Sell at UBS... Chico's FAS (CHS) upgraded to Buy at Janney Capital... Coherent (COHR) upgraded to Buy from Neutral at B. Riley... Devon Energy (DVN) upgraded to Buy from Hold at Deutsche Bank... Farmers National Banc (FMNB) upgraded to Buy from Hold at Sandler O'Neill... Foot Locker (FL) upgraded to Overweight from Equal Weight at Barclays... Groupon (GRPN) upgraded to Buy from Sell at Ascendiant... JA Solar (JASO) upgraded to Outperform from Sector Perform at RBC Capital... K12 (LRN) upgraded to Outperform from Market Perform at Wells Fargo... PolyOne (POL) upgraded to Outperform at RW Baird... QLogic (QLGC) upgraded to Outperform from Market Perform at BMO Capital... SolarWinds (SWI) upgraded to Buy from Hold at Deutsche Bank... Stanley Black & Decker (SWK) upgraded to Equal Weight from Underweight at Barclays... SunPower (SPWR) upgraded to Outperform from Sector Perform at RBC Capital... TCF Financial (TCB) upgraded to Buy from Neutral at DA... Tempur Sealy (TPX) upgraded to Buy from Neutral at Nomura... Textron (TXT) upgraded at BofA/Merrill... Trina Solar (TSL) upgraded to Outperform from Sector Perform at RBC Capital... Umpqua Holdings (UMPQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Valero Energy Partners (VLP) upgraded at Credit Suisse... Verifone (PAY) upgraded to Positive from Neutral at Susquehanna... Yahoo (YHOO) upgraded to Buy from Hold at Evercore ISI... Zimmer (ZMH) upgraded to Outperform at RW Baird.
08:58 EDTSPWRRBC Capital upgraded SunPower on new fab outlook
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06:07 EDTSPWRSunPower upgraded to Outperform from Sector Perform at RBC Capital
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January 26, 2015
06:48 EDTSPWRTax credit, loan guarantee changes could hurt solar energy, NY Times says
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January 23, 2015
08:04 EDTSPWRTotal and SunPower complete 70MW Salvador project
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