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Stock Market & Financial Investment News

News Breaks
March 24, 2014
14:50 EDTSUNESunEdison weekly volatility elevated on wide price movement
SunEdison March weekly call option implied volatility is at 78, April is at 67, May is at 66, July is at 63; compared to its 26-week average of 64 according to Track Data, suggesting large near term price movement.
News For SUNE From The Last 14 Days
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August 18, 2015
16:00 EDTSUNEOptions Update; August 18, 2015
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11:03 EDTSUNESunEdison raises capital while Trina Solar tops expectations
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10:13 EDTSUNEOptions with decreasing implied volatility
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07:47 EDTSUNESunEdison capital raise a net positive, says Credit Suisse
Credit Suisse said SunEdison's new $1B warehouse facility and proposed $500M perpetual convertible preferred offering is a net positive. The firm said the warehouse provides additional capacity to build and hold assets prior to the drop-down to the YieldCos and the preferred stock raise will fund greater than $5B in operating-asset warehouse facilities that require 5-10% in equity. Credit Suisse said the raises also increases visibility into future growth and should reduce uncertainty on where SunEdison will obtain capital needed for $7B of assets expected to be formed in 2016. The firm has an Outperform rating and $35 price target on SunEdison shares.
August 17, 2015
19:00 EDTSUNEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fabrinet (FN), up 5.1%. ALSO HIGHER: Esperion Therapeutics (ESPR), up 10.6% after announcing that it is on track to initiate ETC-1002 Phase 3 program by the end of 2015... Seattle Genetics (SGEN), up 3.3% after announcing FDA approval of Adcetris for HL treatment. DOWN AFTER EARNINGS: MasTec (MTZ), down 7.4%... Urban Outfitters (URBN), down 2.3%. ALSO LOWER: Sunedison (SUNE), down 1% after announcing a $500M perpetual convertible preferred stock offering.
17:36 EDTSUNESunEdison announces $500M perpetual convertible preferred stock offering
SunEdison announced that it intends to file a prospectus supplement to a registration statement filed on Form S-3 with the SEC relating to a proposed underwritten public offering of shares of perpetual convertible preferred stock. The company will be offering 500,000 shares of its perpetual convertible preferred stock. The company intends to use the net proceeds from this offering for general corporate purposes, including funding working capital and growth initiatives.
16:19 EDTSUNESunEdison up 7% to $15.70 after forming asset facility with Goldman Sachs
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16:15 EDTSUNESunEdison, Goldman Sachs fund form $1B construction, operating asset facility
SunEdison (SUNE) and West Street Infrastructure Partners III and affiliates, announced the formation of a new $1B warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets. TerraForm Power (TERP) will have an exclusive call right over the warehoused assets. The WSIP Warehouse is a $1B investment vehicle with $300M equity committed, subject to certain conditions, by WSIP, the infrastructure fund managed by Goldman Sachs (GS). The debt structuring will be led by Morgan Stanley, Bank of America and Deutsche Bank and will provide commitments for $700M of debt in the form of a $500M, five-year term loan and a $200M, four-year revolving credit facility. SunEdison has the option to expand the facility by up to $1B to a total of $2B, subject to certain conditions. The decision to add additional warehouse capacity was completed following an analysis by SunEdison of its financing requirements through 2016 and after exploring alternative debt and equity transactions. SunEdison continues to explore financing alternatives, including upsizing its existing warehouse facilities and adding new warehouse facilities. Completion of the formation of the WSIP Warehouse and the financial close of the related debt facilities are subject to customary conditions and are expected to occur by Oct. 31, 2015.
16:12 EDTSUNESunEdison, Goldman Sachs fund form $1B construction, operating asset facility
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August 14, 2015
16:44 EDTSUNEThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
16:00 EDTSUNEOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
09:04 EDTSUNEFTC grants Blackstone Capital Partners, SunEdison transaction
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August 13, 2015
16:00 EDTSUNEOptions Update; August 13, 2015
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12:18 EDTSUNEOn The Fly: Top stock stories at midday
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10:53 EDTSUNEOptions with increasing implied volatility
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09:51 EDTSUNESunEdison rallies back for second session
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09:37 EDTSUNEActive equity options trading on open
Active equity options trading on open: AAPL CSCO M TSLA BAC GILD BABA FB SLW GPRO SUNE NLY ABX NFLX MSFT
09:20 EDTSUNEOn The Fly: Pre-market Movers
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07:10 EDTSUNESunEdison shares should rise steadily, says RBC Capital
According to RBC Capital, the market expects the yieldco business model to fail. However, the firm thinks that SunEdison can keep its yieldco intact until the cost of raising equity for yieldcos normalizes. The firm expects the company's yieldcos to meet their 2016 dividend guidance. It cut its price target on the name to $24 from $36 but keeps an Outperform rating on the shares.
06:51 EDTSUNESunEdison's JV with Dominion provides access to capital, says Credit Suisse
Credit Suisse said SunEdison's (SUNE) partnership with Dominion (D) provides access to capital. Dominion is investing $500M for the tax equity and 50% interest in the cash flows of the "Four Brothers" solar project in Utah. The firm said the key point is that SunEdison has been able to monetize the asset at close to a 7% unlevered CAFD yield and retain access to $11M of average levered CAFD drop-down visibility for TERP in 2016, without having to invest equity. Credit Suisse said this refutes the bear argument that projects cannot be profitably sold to non-YieldCo buyers and that all buyers have higher cost of capital . The firm continues to see limited downside for SunEdison shares and believes panic selling due to funding concerns is overdone. Credit Suisse rates SunEdison an Outperform with a $35 price target.
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