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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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June 29, 2015
09:06 EDTJKSJinkoSolar considering privatization, says Roth Capital
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08:06 EDTSUNE, TERPSunEdison and TerraForm announces closing of 521-MW Atlantic Power acquisition
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June 25, 2015
08:09 EDTTERPTerraForm acquires ownership stake of 9 MW of solar power plants
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June 24, 2015
07:33 EDTSUNESunEdison and Green Charge Networks partner in solar energy plus storage system
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07:00 EDTTERPTerraForm added to Analyst Focus List at JPMorgan
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06:35 EDTSUNESunEdison Semiconductor enters into granular polysilicon supply agreement
In a regulatory filing, SunEdison Semiconductor (SEMI) disclosed that the company and SunEdison (SUNE) entered into a letter agreement regarding granular polysilicon supply matters. The agreement provides for a long-term supply by SUNE and the joint venture SMP of the company’s granular semiconductor grade polysilicon needs. The agreement provides for a fixed price per kilogram of the granular polysilicon for each year over the 10.5-year period of the agreement. The price for polysilicon decreases during the term of the Agreement. In exchange, the company has agreed to assign all of its share of the dividend and distributions from SMP to SUNE for the duration of the agreement. Because these arrangements are different than those originally agreed upon by and between SUNE’s subsidiary, SunEdison Producer Singapore Pte Ltd., and the company’s subsidiary, SunEdison Semiconductor B.V., relating to the SMP joint venture, the parties have agreed to take all necessary steps to provide for these changes in the original polysilicon supply agreement and to otherwise implement these provisions relating to SMP.
June 23, 2015
09:27 EDTSUNE, TERPSunEdison shares should rise significantly on pending deal, says Wolfe Research
After an SEC filing revealed that SunEdison's (SUNE) captive yieldco, Terraform Power (TERP), is in talks to buy up to 1.2 GW of wind assets, ,Wolfe Research believes that the acquisition could enable Terraform to increase its dividends per share by about 87c. The firm thinks the deal could increase Terraform's stock value by $4-$7 per share. It says that these increases are not currently in its estimates, and it keeps a $44 price target and Outperform rating on SunEdison.
07:34 EDTSUNESunEdison completes 1MW DC canal top solar power plant for Karnataka Government
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07:07 EDTCSIQCanadian Solar subsidiary completes sale of LunarLight to Blue Earth
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05:30 EDTFSLRFirst Solar modules to power 200 MW solar PV project in Dubai
First Solar announced that it has signed an agreement to supply its high performance photovoltaic, or PV, modules to power the 200 MW AC second phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the United Arab Emirates.
June 19, 2015
11:21 EDTFSLR, SPWR8point3 Energy Partners opens at $20.75, IPO priced at $21.00
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11:10 EDTFSLR, SPWR8point3 Energy Partners IPO indicated to open $20.60
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10:57 EDTSPWR, FSLR8point3 Energy Partners IPO indicated to open $20.75
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10:52 EDTSPWR, FSLR8point3 Energy Partners IPO indicated to open $20.50
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10:51 EDTSPWR, FSLR8point3 Energy Partners IPO indicated to open $20.25
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10:46 EDTSPWR, FSLR8point3 Energy Partners IPO indicated to open $20, IPO priced at $21
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10:27 EDTTERPTerraForm shares defended at JPMorgan
07:02 EDTCSIQCanadian Solar receives $58M construction loan from Deutsche Bank
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06:26 EDTTERPTerraForm 15.75M share Secondary priced at $38.00
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June 18, 2015
08:01 EDTSPWRSunPower starts construction on 102-megawatt Henrietta Solar Project
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