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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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January 28, 2015
09:59 EDTSUNERumor: SunEdison moves up on renewed takeover chatter
January 27, 2015
10:00 EDTTERPOn the Fly: Analyst Initiation Summary
Today's noteworthy initiations include: ADT Corp. (ADT) initiated with an Outperform at Raymond James... American Campus (ACC) initiated with a Buy at Stifel... Encana (ECA) initiated with an Equal Weight at Morgan Stanley... Sage Therapeutics (SAGE) initiated with a Buy at SunTrust... TerraForm Power (TERP) initiated with a Buy at BofA/Merrill.
08:06 EDTTERPTerraForm Power initiated with a Buy at BofA/Merrill
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January 26, 2015
11:50 EDTSUNE, JKS, FSLR, CSIQSolar names rise after Obama pledges U.S. help for Indian solar push
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10:28 EDTFSLR, JKS, SUNE, CSIQIndia's Mahnidra to add 500 MW of solar energy, Reuters says
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06:48 EDTFSLR, SPWR, CSIQTax 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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January 22, 2015
07:12 EDTCSIQCanadian Solar completes sale of Glenarm Solar Power Plant to Dutch fund
Canadian Solar has sold the 10 MW AC Glenarm solar power plant to an affiliate of DIF Infrastructure III. This solar power plant is valued at over $49M and utilizes Canadian Solar's CS6X photovoltaic modules. The project reached commercial operation in November 2014. The closing of this sale represents the first of four solar projects that will be acquired by DIF.
January 21, 2015
07:33 EDTSUNESunEdison becomes supplier to 250 school districts of California's SPURR
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07:04 EDTSUNE, TERPSunEdison and TerraForm Power secure financing for solar project in UK
SunEdison (SUNE) and TerraForm Power (TERP) have secured financing to build five large-scale solar farms in the UK which will generate 85.2MW of electricity. The projects are expected to be acquired by Terraform in early 2015. Financing for the solar farms has been provided by Santander (SAN) Global Banking and Markets and Bayerische Landesbank, who acted as arrangers and Santander UK who acted as agent. The total amount financed was GBP70M. SunEdison has begun construction on all five sites, and will complete them in Q1.
January 20, 2015
18:30 EDTSUNEOn The Fly: After Hours Movers
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16:11 EDTSUNESunEdison files to sell $350M convertible senior notes due 2022
13:56 EDTSUNESamsung reports 3.4% passive stake in SunEdison
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13:00 EDTCSIQCanadian Solar pullback a buying opportunity, says JPMorgan
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11:03 EDTFSLRStocks with call strike movement; FSLR NE
First Solar (FSLR) January call option implied volatility increased 5% to 48, Noble Corp. (NE) June 18 call option implied volatility increased 9% to 53 according to IVolatility.
January 16, 2015
11:05 EDTSUNEStocks with call strike movement; TWTR SUNE
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07:31 EDTSUNESunEdison raises $590M for First Wind acquisition
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January 15, 2015
18:47 EDTTERPTerraForm Power 12M share Secondary priced at $29.33
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16:01 EDTSUNEOptions Update; January 15, 2015
iPath S&P 500 VIX Short-Term Futures up 1.01 to 36.13. Option volume leaders: AAPL TSLA TWTR AMZN FB C CLF ABX SUNE according to Track Data.
07:37 EDTSUNESunEdison price target lowered to $26 from $35 at Canaccord
Canaccord lowered its price target on SunEdison to $26 from $35 based on a more conservative stance on high multiple names due to macro uncertainty. Canaccord reiterated its Buy rating on SunEdison shares.
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