PR Newswire (Wed, 4:46PM)
PR Newswire (Tue, 8:00AM)
PR Newswire (Nov 26, 2013)
PR Newswire (Nov 14, 2013)
PR Newswire (Nov 6, 2013)
PR Newswire (Nov 6, 2013)
PR Newswire (Oct 31, 2013)
PR Newswire (Oct 28, 2013)
PR Newswire (Oct 4, 2013)
PR Newswire (Sep 13, 2013)
PR Newswire (Sep 10, 2013)
PR Newswire (Sep 10, 2013)
SunEdison, IFC and OPIC Close $212.5M Project Financing arrangement for a 100 MWp Solar Power Plant in ChilePR Newswire (Sep 10, 2013)
PR Newswire (Sep 8, 2013)
New Energy Capital, North Sky Capital and EverStream Capital Invest $67.3 Million in SunEdison ProjectsPR Newswire (Sep 3, 2013)
PR Newswire (Aug 22, 2013)
at MarketWatch.com (Aug 8, 2013)
PR Newswire (Aug 7, 2013)
PR Newswire (Jul 25, 2013)
at MarketWatch.com (Aug 8, 2013)
at MarketWatch.com (Feb 7, 2013)
at MarketWatch.com (Dec 27, 2012)
at MarketWatch.com (Aug 8, 2012)
at MarketWatch.com (Aug 8, 2012)
We are a global leader in the manufacture and sale of wafers and have been a pioneer in the design and development of wafer technologies over the past fifty years. With manufacturing and research and development facilities in the U.S., Europe and Asia Pacific, we enable high performance... More
Tuesday, Dec 31:08 PMSunEdison rallies after announcing new fund investment
Tuesday, Dec 31:08 PM| Comment!
- DeLange Landen Financial Services (DLL) is doubling its investment in a SunEdison (SUNE +1.9%) fund meant to finance new solar installations (via sale/leaseback agreements) to $100M. Projects enabled by the fund are expected to be completed in 2013. (PR)
- Much like SolarCity, SunEdison is looking to use asset-based financing options to grow its U.S. solar installation business. Thanks in part to healthy subsidies, domestic demand has grown rapidly in 2013.
- News of the investment comes a week after SunEdison said it's planning to sell a 20%-30% stake in a solar project subsidiary through a U.S. IPO.
Monday, Nov 251:17 PMSunEdison planning solar project IPO, shares pare losses
Monday, Nov 251:17 PM| Comment!
- SunEdison (SUNE -1.6%) CFO Brian Wuebbels tells Reuters his company plans to sell a 20%-30% stake in a solar project subsidiary through a U.S. IPO that could raise up to $300M for financing new projects. The offering currently has a Q2 2014 ETA.
- The subsidiary, called SunEdison Yield Co, would own projects in the U.S., U.K., Japan, Canada, Mexico, and Chile, and likely pay a quarterly dividend. Wuebbels think Yield Co. would likely have $40M-$60M in distributable cash flow.
- SunEdison is also thinking of doing a Hong Kong or Singapore IPO for its Asian and South African solar projects If it happens, that offering would follow the U.S. IPO by a few months.
- Both prospective IPOs are separate from the $250M offering SunEdison is planning for its chip wafer ops.
- Down over 4% earlier today, shares have pared their losses following Wuebbels' remarks. They took off earlier this month after SunEdison provided strong Q3 numbers and Q4 guidance, and raise the possibility of spinning off some of its solar assets.
Tuesday, Nov 192:41 PM3D printing, solar stocks reverse course
Tuesday, Nov 192:41 PM| 32 Comments
- After steadily rising over the last three weeks, 3D printing stocks are reversing course in dramatic fashion today in the absence of major news. Solar stocks, which have also seen plenty of good days lately, are also selling off hard.
- 3D printer makers 3D Systems (DDD -6.1%), Stratasys (SSYS -7.5%), ExOne (XONE -7.7%), and Voxeljet (VJET -14.1%) are all off sharply, as is custom parts maker Proto Labs ([[PRLB -4.8% - sometimes hyped as a 3D printing play).
- Trina (TSL -4.9%), which provided a big Q3 beat and guidance hike this morning, has turned negative after shooting higher in premarket trading. Other solar decliners: YGE -10.9%. FSLR -4.6%. SOL -6.4%. JASO -6.4%. CSUN -5.6%. JKS 5.7%. DQ -5.5%. SUNE -5.5%. CSIQ -5.3%. SPWR -7.1%.
Tuesday, Nov 128:59 AMSolar stocks down premarket following Yingli and Hanwha's results
Tuesday, Nov 128:59 AM| Comment!
- Up strongly yesterday, ever-volatile solar stocks are giving back some of their gains in premarket trading today after Yingli (I, II) and Hanwha (I, II) provided Q3 results and full-year guidance that left investors wanting more following big 2013 run-ups.
- Notable decliners: TSL -3.9%. JKS -5.2%. JASO -3.4%. CSUN -3.3%. SCTY -1.3%. SUNE -2.5%.
- Also: Canadian Solar (CSIQ) is down 2.4% in spite of announcing a 32MW module supply deal for a Chinese solar plant, and First Solar (FSLR) is down 0.7% in spite of announcing it has obtained power purchase agreements for a 40MW California power plant it's building.
Friday, Nov 88:56 AMA roundup of tech ratings changes
Friday, Nov 88:56 AM| 2 Comments
- Priceline (PCLN) has been upgraded to Buy by Monness Crespi after beating Q3 estimates, issuing light Q4 EPS guidance, and announcing a CEO change. Shares +2% premarket after initially trading lower in AH trading yesterday.
- Windstream (WIN) has been cut to Underweight by Morgan Stanley a day after missing Q3 estimates. Shares -0.9% premarket after dropping 5.6% yesterday.
- SolarWinds (SWI) has been upgraded to Buy by Needham 10 days after beating Q3 estimates and issuing below-consensus Q4 guidance.
- Aspen Technology (AZPN) has been upgraded to Buy by UBS a week after beating FQ1 estimates and raising full-year guidance.
- SunEdison's (SUNE) PT has been raised to $21 (a Street high) from $11 by Citi two days after the company beat Q3 estimates, issued strong solar division guidance, and raised the possibility of spinning off some of its solar assets into a new company. The company is already set to do an IPO for its chip wafer unit. Shares +6.7% premarket.
Thursday, Nov 72:22 PMSolarCity dives post-earnings, takes peers lower with it
Thursday, Nov 72:22 PM| 3 Comments
- With shares up over 5x YTD going into the company's Q3 report, SolarCity (SCTY -14%) investors are taking profits in the face of a Q3 beat and above-consensus guidance.
- Credit Suisse (Outperform, $75 PT) is defending SolarCity today, while praising the company's operating leverage and incremental retained value per watt (rose 35% Q/Q in Q3 to $1.9)1.
- Goldman (Neutral, $65 PT) also talks up SolarCity's value retention, as well as its declining operational costs/watt (fell to $0.59/watt from $0.80/watt in Q2). But it also cautions expectations were high, points out "no volume upside was provided" for 2013/2014 deployment targets, and that there's "limited clarity" for SolarCity's solar lease securitization efforts.
- On its CC (transcript), SolarCity mentioned it invested $200M+ in solar deployments in Q3, and financed another $86M. The company has been raising funds for its deployment efforts at a breakneck pace.
- Many solar peers are also off sharply on a rough day for tech momentum play. Thanks to good earnings news, the group rallied sharply both on Monday and last Friday. In addition to SolarCity, China Sunergy's poor guidance could also be playing a role.
- Solar decliners: FSLR -4.2%. SPWR -6.1%. SOL -5.1%. JKS -4.8%. YGE -4.7%. JASO -6.5%. DQ -10.2%. SPWR -6.1%. LDK -5.5%. SUNE -3.8%.
Wednesday, Nov 68:01 AMSunEdison +6% premarket following Q3 beat, strong solar guidance
Wednesday, Nov 68:01 AM| Comment!
- SunEdison (SUNE) closed Q3 with a solar project pipeline of 3.1GW, up 231MW Q/Q and 251MW Y/Y. Project backlog was at 1.1GW, up 28MW Q/Q.
- The solar division posted sales of $441.3M, +75% Q/Q and -6% Y/Y. It recognized revenue from 75MW of system sales, up sharply from Q2's 51MW and driving SunEdison's revenue beat. Q4 guidance is for 234MW-264MW of solar sales volume; with analysts already expecting SunEdison's sales to jump 85% Q/Q to $1.24B, some (but perhaps not all) of this growth has been expected.
- Another 75MW-80MW of solar systems set to be completed in Q4 will be retained on the balance sheet. 558MW of SunEdison's solar pipeline is now under construction, up from 200MW at the end of Q2.
- The semiconductor wafer business, soon to be spun off, remains a laggard: sales -3% Q/Q and -4% Y/Y to $230.7M. Q4 guidance is for revenue of $220M-$230M.
- Q3 gross margin was 9.5%, up from Q2's 5.9% but down from 16% a year ago. Free cash flow was $24M, above net income of $4.1M.
- Q3 results, PR
Wednesday, Nov 66:05 AM
Wednesday, Nov 612:05 AMNotable earnings before Wednesday’s open|Wednesday, Nov 612:05 AM| Comment!
Tuesday, Nov 55:30 PMNotable earnings before Wednesday’s open|Tuesday, Nov 55:30 PM| Comment!
Tuesday, Nov 59:41 AMA roundup of tech ratings changes
Tuesday, Nov 59:41 AM| 3 Comments
- BlackBerry (BBRY +3.5%) has been upgraded to Hold by Deutsche and SocGen, and cut to Underperform by CIBC, in the wake of yesterday's events.
- NQ Mobile's (NQ -12.6%) rating has been suspended by Piper as the Muddy Waters debate continues to boil. SA contributor Goldbaum Research has provided another bearish column this morning.
- SunEdison (SUNE +4.9%) has been upgraded to Overweight by Piper ahead of tomorrow's Q3 report.
- Rovi (ROVI -3.3%) has been cut to Sell by Goldman a week after missing Q3 estimates and cutting full-year guidance.
- TTM Technologies (TTMI +10.6%) has been upgraded to Overweight by JPMorgan a few days after tumbling due to a Q3 miss, soft guidance, and a CEO change.
Monday, Nov 412:56 PMSolar stocks take off following guidance hikes
Monday, Nov 412:56 PM| 3 Comments
- Positive Q3 guidance revisions from Canadian Solar (previous) and Daqo (DQ +11.2%) are fueling another massive rally in solar stocks, some of which jumped last Friday thanks to blowout Q3 numbers from First Solar (FSLR +4.6%).
- Canadian hiked the midpoint of its Q3 module shipment guidance range by more than 10%, and the midpoint of its gross margin guidance range by 800 bps. Daqo has upped its polysilicon shipment range to 1,200-1,275 MT from a prior 1,000 MT, albeit while slightly lowering its wafer shipment guidance to 6.5-6.6 MT from prior 6.8 MT (shipping delays are blamed).
- The guidance hikes follow a string of positive Q2 reports from Chinese solar firms in August, as companies saw both their sales and margins benefit from growing local demand, diminishing overcapacity, and strong shipments to the high-margin Japanese market. Credit Suisse recently predicted improving demand could lead excess Chinese supply to evaporate by late 2014 or 2015.
- Also: Suntech (STP +13.6%) has officially reached a deal to sell its large and bankrupt Wuxi, China unit to solar cell maker Shunfeng (previous), SunPower (SPWR +10.9%) has announced it's buying module cleaning robot developer Greenbiotics, and SolarCity (SCTY +16.4%) has announced (as part of its seemingly non-stop financing binge) it's selling $54.4M in solar asset-backed notes maturing in Dec. 2026.
- Today's winners, aside from the aforementioned companies: JKS +9.8%. JASO +9.2%. RSOL +8.3%. LDK +6.5%. HSOL +5.2%. YGE +7.4%. CSUN +6%. SOL +6.9%. SUNE +3.5%. TSL +9.7%.
- Solar ETFs: KWT, TAN
Friday, Nov 111:22 AMFirst Solar soars in spite of muted analyst commentary, peers also up
Friday, Nov 111:22 AM| Comment!
- A solid majority of analysts covering First Solar (FSLR +15.5%) have maintained neutral ratings for a while, even as shares took off as part of a broader solar rally, and none have issued upgrades following the company's huge Q3 beat and mixed full-year guidance.
- Deutsche (Hold) estimates early revenue recognition for the Desert Sunlight project provided a $0.15 Q3 EPS boost, and that a lower tax rate and operational improvements provided a $0.25 boost. The firm sees "limited upside to 2014 estimates."
- Needham (Hold) offers a similar take: It's encouraged by First Solar's cost improvements and rising bookings, but is worried about the potential for lower 2014 earnings and "uncertainty" regarding 2015 growth.
- First Solar mentioned on its CC (transcript) its core module cost/watt ($0.49) is the "lowest in the industry" following a big Q3 drop - the company's cost advantage has been narrowing in recent years as polysilicon prices crash - and that it's testing modules with a 14.1% conversion efficiency; average Q2 efficiency was 13.3%, and lead-line efficiency 13.9%. Ont the other hand, First Solar says it's seeing a "lower system ASP environment."
- 16.8% of the float was shorted as of Oct. 15; that's probably assisting with today's rally. Also higher: CSIQ +7.2%. GTAT +6.3%. RSOL +8.9%. YGE +3.7%. SUNE +2.4%. SOL +3.6%.
- Update (12:35 PM): First Solar finally catches an upgrade: S&P has lifted shares all the way to Buy from Sell.
Monday, Oct 2812:15 PMTech momentum plays dive again
Monday, Oct 2812:15 PM| 5 Comments
- Though the Nasdaq is only down 0.1%, many 2013 Internet, solar, and enterprise software high-flyers are diving once more. Chinese names are well-represented in the group, as NQ Mobile continues crashing thanks to fraud allegations and Sohu plunges due to weak Q4 EPS guidance.
- The WSJ and NYT have each run pieces asking whether a new tech bubble is afoot, at least in certain hot sectors. "People are reaching for growth," says one fund manager quoted by the WSJ. Others argue the fact the high-flyers generally have substantial revenue, and are often profitable, makes the current situation different from the Dot.com bubble.
- Internet decliners: FB -3.4%. MELI -2.8%. GRPN -5%. ZNGA -2.7%. P -2.4%. DANG -7.6%. VIPS -7%. YY -4.8%. QIHU -5.6%. RENN -5.7%. SINA -2.4%. FUEL -4%.
- Solar decliners: JKS -12.4%. FSLR -4.8%. SOL -8.4%. YGE -8%. JASO -6.9%. GTAT -5.4%. SUNE -4.6%. SPWR -4.3%. SCTY -3.8%. STP -8.9%. TSL -13.2%.
- Enterprise decliners: CRM -3.8%. DATA -4.5%. MKTO -5.8%. WDAY -4%. DWRE -3.4%. VEEV -5.1%. IMPV -3.4%.
- Recent declines: I, II.
- Previous: Cashin sees mobile/cloud bubble
Friday, Oct 182:28 PMFirst Solar surges amid Icahn rumors, peers also rallying
Friday, Oct 182:28 PM| 37 Comments
- Rumors Carl Icahn is set to disclose a stake in First Solar (FSLR +7.9%) have helped shares fly higher. Similar rumors popped up back in April.
- Several solar peers are also doing very well on what's proving a good day for momentum stocks. SPWR +4.9%. SUNE +5%. SCTY +7.5%. DQ +14.3%. CSIQ +4.8%.
- JinkoSolar (JKS +2.7%) is up more moderately after announcing a deal to develop a 120MW Chinese solar plant that will be built over the next three years. Shares jumped yesterday in response to a Credit Suisse upgrade.
- The Guggenheim Solar ETF (TAN +1.9%) is now up 152% YTD.
Monday, Oct 142:06 PMU.S. solar names rally again
Monday, Oct 142:06 PM| Comment!
- SunPower (SPWR +5.2%), First Solar (FSLR +2.7%), and SunEdison (SUNE +3.4%) are all adding to the Friday gains they saw after SolarCity provided strong Q3 installation data and (more importantly) issued better-than-expected 2014 guidance. SolarCity is taking a breather following Friday's giant move higher.
- Last week's signing of a California solar bill that effectively allows solar power producers (residential or commercial) to sell back as much excess power to the grid as they generate (the bill could pave the way for similar legislation in other states) could also be providing a lift to industry sentiment.
- Short interests for the group remain high. SunPower had 27.7% of its float shorted as of Sep. 30, First Solar had 15.2%, and SunEdison 10%.
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