SunEdison (SUNEQ) - OTCPK - Limited
  • Thu, Mar. 3, 12:53 PM
    | Thu, Mar. 3, 12:53 PM | 4 Comments
  • Thu, Mar. 3, 9:15 AM
    | Thu, Mar. 3, 9:15 AM | 1 Comment
  • Wed, Mar. 2, 5:10 PM
    • SunEdison (NYSE:SUNE) is suspending the quarterly dividend paid (either in cash or stock) for its 6.75% Series A perpetual convertible preferred stock. The board "intends to reassess its dividend policy on an ongoing basis."
    • Shares are down 12.9% after hours to $1.56. They rose 19.3% in regular trading amid a WSJ report stating bankers are balking at providing committed loans to finance SunEdison's planned acquisition of Vivint Solar. They tumbled yesterday following news SunEdison is delaying its 10-K filing and is seeing an Audit Committee probe related to issues raised by current and former employees.
    | Wed, Mar. 2, 5:10 PM | 143 Comments
  • Wed, Mar. 2, 3:42 PM
    | Wed, Mar. 2, 3:42 PM | 132 Comments
  • Tue, Mar. 1, 9:19 AM
    | Tue, Mar. 1, 9:19 AM | 1 Comment
  • Mon, Feb. 29, 5:40 PM
    • Undeterred by a Delaware court's decision to deny an injunction request on TerraForm Power's (TERP +11.3%) planned purchase of Vivint Solar's (VSLR -0.5%) rooftop solar portfolio, David Tepper's Appaloosa Management is seeking an expedited trial against SunEdison (SUNE -12.4%).
    • As part of its effort, Appaloosa plans to pressure a $1B Goldman loan to SunEdison, arguing its "“take/pay [arrangement] would be unenforceable if it was not “entirely fair” to TerraForm."
    • SunEdison sold off today after rising 79% last Thursday and Friday amid news of the injunction denial, while TerraForm rose. In spite of the denial, Judge Andre Bouchard says Appaloosa raised legitimate questions about the TerraForm/Vivint deal, and that the process used by SunEdison to secure the support of TerraForm's board for the deal was "inherently suspect."
    | Mon, Feb. 29, 5:40 PM | 62 Comments
  • Mon, Feb. 29, 9:17 AM
    | Mon, Feb. 29, 9:17 AM
  • Fri, Feb. 26, 12:45 PM
    | Fri, Feb. 26, 12:45 PM | 4 Comments
  • Fri, Feb. 26, 9:17 AM
    | Fri, Feb. 26, 9:17 AM | 7 Comments
  • Thu, Feb. 25, 5:45 PM
    | Thu, Feb. 25, 5:45 PM | 6 Comments
  • Thu, Feb. 25, 5:42 PM
    • Dow Jones reports SunEdison (NYSE:SUNE) has defeated an attempt by David Tepper's Appaloosa Management to place an injunction on TerraForm Power's (NASDAQ:TERP) planned purchase of (SunEdison acquisition target) Vivint Solar's (NYSE:VSLR) rooftop solar installation portfolio.
    • SUNE +20.9% after hours to $2.08. Shares rose 36.1% in regular trading.
    • TERP -7.8% after hours to $7.85. VSLR +23.9% to $7.30.
    • Earlier: SunEdison surges following Chinese partnership news
    • Update (8:01PM ET): SunEdison has confirmed the report in a brief PR. "We are gratified that the court denied the injunction and now we look ahead to continuing to navigate current market conditions." Shares have closed after hours trading up 31.4%.
    | Thu, Feb. 25, 5:42 PM | 174 Comments
  • Thu, Feb. 25, 12:48 PM
    | Thu, Feb. 25, 12:48 PM
  • Thu, Feb. 25, 11:21 AM
    • Chinese solar manufacturer Jinneng says it has broken ground on a 2GW cell/module plant it's building with SunEdison's (SUNE +32.1%) help. Jinneng is said to be contributing R&D and manufacturing capabilities, and SunEdison solar project development expertise.
    • The companies are reportedly targeting annual revenue of RMB12B ($1.84B). Jinneng's plant aims to produce N-type monocrystalline HIT solar cells, which have higher conversion rates (and production costs) than conventional silicon cells.
    • SunEdison, which closed yesterday at just $1.26, has shot higher following the news. Short-covering is likely helping: 93.6M shares (41% of the float) were shorted as of Jan. 29.
    • Separately, Vivint Solar (VSLR +7.6%) shareholders approved SunEdison's planned acquisition of the company yesterday. David Tepper's Appaloosa Management is still suing over TerraForm Power's planned purchase of Vivint's rooftop solar portfolio.
    | Thu, Feb. 25, 11:21 AM | 114 Comments
  • Fri, Feb. 19, 2:40 PM
    • Janney and Credit Suisse have joined the ranks of firms downgrading SunEdison (SUNE -5.6%), with each cutting shares to Neutral. The battered solar/wind project developer is $0.06 above a low of $1.37.
    • Credit Suisse cites an "uncertain near-term liquidity profile." However, the firm doesn't think SunEdison needs to restructure its debt or faces near-term insolvency. "Put simply, SunEdison has tried to run too quickly - seeking hyper growth at the same time capital markets are more challenged - constraining their balance sheet,"
    • Janney's Michael Gaugler cites Hawaiian Electric's recent decision to cancel contracts to buy 148MW of power from three utility-scale SunEdison plants. He thinks the "lack of project execution could be indicative of more serious cash flow concerns than we previously anticipated, and that the likelihood of SunEdison achieving the aggregate cash walk outlined in its 1/7/16 business update has diminished."
    • Gaugler is also worried "other counterparties may become hesitant to engage in contractual commitments with SUNE, given 1) the failed Latin America Power (LAP) transaction, 2) length of time to close the Vivint Solar Inc
      acquisition," and 3) cancellation of the Hawaiian Electric agreement."
    • In a regulatory filing disclosing the contract cancellations, Hawaiian alleges SunEdison has been in default and has "not cured important missed milestones." The utility also claims it "made many accommodations" to get SunEdison's solar projects finished.
    • SunEdison says it "emphatically disagree(s) with the analysis presented in HECO's filings, as well as HECO's conclusion that it has a right to terminate the PPAs." The company also notes it planned to transfer the projects to creditor D.E. Shaw once they were finished, something it thinks would eliminate financial risks.
    • Yesterday: SunEdison fails to get lift from materials restructuring; SEMI soars on buyout hopes
    | Fri, Feb. 19, 2:40 PM | 143 Comments
  • Thu, Feb. 18, 5:53 PM
    • Beaten-down SunEdison (NYSE:SUNE) fell another 9.6% today to $1.51. Shares touched their 52-week low of $1.37 (hit on Friday and Tuesday) before bouncing a little.
    • The decline followed news SunEdison is restructuring its solar materials ops to focus on "asset-light proprietary silicon production technologies via partnerships and joint ventures." The efforts include shuttering a Pasadena, TX polysilicon plant, selling a Kuching, Malaysia solar plant to China's LONGi Silicon Materials, and turning a Portland, OR facility into "a cost-effective R&D and technology demonstration center." $266M in non-cash impairment charges and $171M in other restructuring charges are expected.
    • Meanwhile, former chip wafer unit SunEdison Semiconductor (NASDAQ:SEMI) finished up 51.4% after announcing it will explore strategic alternatives "following receipt of unsolicited preliminary indications of interest in the company." Barclays has been hired to assist with the effort, which comes with SEMI trading at a fraction of its 52-week high of $27.93.
    | Thu, Feb. 18, 5:53 PM | 64 Comments
  • Thu, Feb. 18, 9:22 AM
    | Thu, Feb. 18, 9:22 AM | 1 Comment
Company Description
SunEdison, Inc. engages in the business of semiconductor and solar technology. It develops, manufactures, and sells silicon wafers and photovoltaic energy solutions. It operates through the Semiconductor Materials, TerraForm Power, Inc. and Solar Energy segments. The Semiconductor Materials... More
Sector: Technology
Industry: Semiconductor - Integrated Circuits
Country: United States