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Stock Market & Financial Investment News

News Breaks
July 18, 2014
12:48 EDTJKS, SUNE, FSLR, TERP, CSIQ, SPWRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
News For TERP;SUNE;SPWR;FSLR;JKS;CSIQ From The Last 14 Days
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May 26, 2015
09:58 EDTFSLROn The Fly: Analyst Downgrade Summary
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09:23 EDTFSLROn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up marginally after reporting third quarter results. ALSO HIGHER: Geeknet (GKNT), up 119.7% after being acquired by Hot Topic for $17.50 per share... IntelliPharmaCeutics (IPCI), up 16.8% after being granted fast track designation for Rexista Oxycodone by FDA... McDermott (MDR), up 9.2% after favorable mention in Barron's and after being awarded a project for 12 jackets offshore Saudi Arabia... Time Warner Cable (TWC), up 5.2% following announcement of merger with Charter (CHTR)... Charter is up fractionally. DOWN AFTER EARNINGS: Sky-mobi (MOBI), down 7.9%. ALSO LOWER: Etsy (ETSY), down 5.7% following a Wall Street Journal report that Amazon.com (AMZN) is targeting Etsy with an artisan goods marketplace... First Solar (FSLR), down 4.1% after being downgraded to Underperform from Sector Perform at RBC Capital... AstraZeneca (AZN), down 1.9% after Amgen (AMGN) ends participation in co-development and commercialization of brodalumab... Amgen is down 1.5%.
08:26 EDTSUNESunEdison could pursue dividend to increase value, says UBS
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07:04 EDTJKSJinkoSolar production facility in Malaysia begins operations
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06:46 EDTFSLRFirst Solar downgraded to Underperform from Sector Perform at RBC Capital
RBC Capital downgraded First Solar to Underperform and lowered its price target on the stock to $34 from $54. The firm believes First Solar's cost advantage over C-Si module producers is diminishing and that its earnings power is significantly below previous guidance and consensus. RBC Capital rolled out 2016 estimates of $1.37/$3.4B, versus consensus of $3.48/$4.1B and guidance of $3.50-$5.00/$3.8B-$4.5B. The firm sees limited upside to its estimates given First Solar's high exposure to utility scale projects and long-lead time and development cycles, combined with lower ASPs and gross margins to third-party module estimates.
May 22, 2015
09:53 EDTSUNESunEdison initiated with an Outperform at Wolfe Research
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08:56 EDTFSLRJefferies to hold a field trip
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May 21, 2015
12:01 EDTFSLRSouthern Company subsidiary acquires 103-MW Georgia solar project
Southern Company (SO) subsidiary Southern Power acquired the 103-megawatt Butler solar facility from Community Energy in Georgia. The project, which was initially developed by Community Energy was selected by Southern Company subsidiary Georgia Power in a competitive process through the nationally recognized Georgia Power Advanced Solar Initiative. The facility, which will be located on approximately 1,070 acres in Taylor County, Georgia, is expected to enter commercial operation in the fourth quarter of 2016. Construction is slated to begin in September 2015, with First Solar (FSLR) managing the building, operations and maintenance of the facility. The Butler solar facility is expected to consist of more than 1 million of First Solar's thin-film photovoltaic solar modules mounted on single-axis tracking tables. The electricity and associated renewable energy credits generated by the facility will be sold under a 30-year power purchase agreement with Georgia Power, which will have the option to keep or sell the RECs, for the benefit of its customers or renewable energy programs.
07:33 EDTSUNE, TERPSunEdison awarded 33MW rooftop solar contract in Southern California
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May 20, 2015
10:00 EDTSUNE, TERPOn The Fly: Analyst Initiation Summary
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May 19, 2015
16:42 EDTSUNESunEdison initiated with an Outperform at Baird
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16:41 EDTTERPTerraForm initiated with an Outperform at Baird
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08:52 EDTCSIQConcerns over Canadian Solar 'just near-term noise' says Roth Capital
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May 18, 2015
07:08 EDTJKSJinkoSolar to supply 50 MW of solar panels to Tegnatia for projects in Turkey
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07:02 EDTCSIQCanadian Solar receives $44.4M non-recourse construction loan
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07:01 EDTJKSJinkoSolar to supply 50MW of solar panels to Tegnatia
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05:13 EDTCSIQCanadian Solar to host investor day
Investor Day to be held in New York on May 18 at 9 am. Webcast Link
May 15, 2015
11:08 EDTTERPOmega Advisors gives quarterly update on stakes
NEW STAKES: Targa Resources (TRGP), Targa Resources Partners (NGLS), Humana (HUM), Dow Chemical (DOW), and Twenty-First Century Fox (FOXA). INCREASED STAKES: Kinder Morgan (KMI), Chimera Investment Corporation (CIM), AerCap Holdings (AER), Shire (SHPG), and KKR & Co. (KKR). DECREASED STAKES: eBay (EBAY), Altisource Portfolio Solutions (ASPS), Caesars Entertainment (CZR), Navient (NAVI), and TerraForm Power (TERP). LIQUIDATED STAKES: HCA Holdings (HCA), Gilead (GILD), Cabot Oil & Gas (COG), and Apple (AAPL).
10:24 EDTTERPCI Investments reports 5.02% passive stake in TerraForm
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May 14, 2015
11:33 EDTSUNEStocks with call strike movement; TWTR SUNE
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