Tag: FSLR

Major Movers on May 20; SCTY, FSLR, FWLT, RAVN, WCRX, ACT

Shares of SolarCity Corp. (NASDAQ: SCTY) rallied about 14% by afternoon trade. The stock has been gaining since last week after the company announced that it entered in a financing deal with Goldman Sachs. According to the deal, Goldman Sachs will fund in excess of $500 million on solar projects managed by San Mateo, Calif. based Company.

Continue reading Major Movers on May 20; SCTY, FSLR, FWLT, RAVN, WCRX, ACT

Major Movers on May 7; FSLR, FOSL, MELI, RKUS, ARUN, SNTS, EOG, DTV

Shares of First Solar Inc. (NASDAQ: FSLR) fell about 9.25% by afternoon trade. Although the solar panel maker, late last evening, reported that it swung into fiscal first quarter profit and handed revenue which edged past Street’s consensus estimate, investors were disappointed as adjusted earnings fell short of expectation. However, the Company maintained its full-year earnings and revenue guidance which exceeded analysts’ consensus estimate.

Continue reading Major Movers on May 7; FSLR, FOSL, MELI, RKUS, ARUN, SNTS, EOG, DTV

First Solar Shares Rally After 2013 Outlook (FSLR)

Shares of First Solar Inc. (NASDAQ: FSLR) skyrocketed on Tuesday after the solar maker provided better-than-expected earnings and revenue outlook for fiscal 2013, thanks to its growing power-plant business in emerging markets and expectations over a new kind of panel, which the Company will soon unveil.

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Major Movers on February 27; GWRE, FSLR, DLTR, PDCE, AAPL

Shares of Guidewire Software Inc. (NYSE: GWRE), a developer of technology solutions for property and casualty and workers compensation insurers, saw a huge rally in trading on Wednesday after the company reported its second-quarter financial results.

Continue reading Major Movers on February 27; GWRE, FSLR, DLTR, PDCE, AAPL

Buffett’s MidAmerican Energy Buys Two Solar Projects from SunPower (SPWR, BRK.A)

SunPower Corp. (NASDAQ: SPWR) announced on Wednesday that it has sold two solar projects running in California to a firm controlled by Warren Buffet’s Berkshire Hathaway Inc. (NYSE: BRK.A). In lieu, SunPower would receive about $2.5 billion along with related contracts.

Shares of SunPower climbed more than 30% in early trading on Thursday. On Wednesday, the stock gained 9% to $6.13, its highest level since last eight months.

In its regulatory filing, SunPower said Berkshire utility MidAmerican Energy Holdings Co. will pay SunPower between $2.0 billion and $2.5 billion for the 579-megawatt (MW) Antelope Valley solar projects which include the fees for designing, installing and constructing solar energy sites.

SunPower boasts these projects as world’s largest photovoltaic power development project and construction on this venture is expected to be completed by the end of 2015.

While speaking to Reuters, SunPower’s Chief Executive Tom Werner said investments from Buffet owned utility firm indicate endorsement of these projects,. He added that anticipated cash flows from these projects will only make SunPower more creditworthy and bankable.

“If you are a bank you are looking at us a lot differently today than you did last week,” said the CEO while speaking to Reuters.

However, analysts at Raymond James remained skeptical on the Company, citing that projects are too costly in the backdrop of falling margins and lack of demand for solar energy.

“( A deal with Buffest owned utility) does not alter the fact that SunPower retains a markedly high-cost structure and razor-thin margins in the context of a massively oversupplied market,” said Marshall Adkins, an analyst at Raymond James.

For MidAmerican Energy Holdings Co, addition of these two new projects will further increase firm’s growing footprint in clean energy business.

Earlier in 2011, MidAmerican acquired 49 percent stake in a 290 MW solar power plant in Arizona from NRG Energy Inc. (NYSE: NRG) and purchased First Solar Inc.’s (NASDAQ: FSLR) 550 MW Topaz Solar Farm power plant in California.

Major Gainers and Losers on October 5; GRPN, ZNGA, AVP, FSLR, PAY, GMCR

Shares of Groupon Inc. (NASDAQ: GRPN), a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount, are soaring in trading today. At last check, GRPN shares were trading 9.17% higher at $5.24 on above average volume of 12.72 million. The stock hit an intra-day high of $5.37 in trading today. It has now gained more than 12% in the last three trading sessions.

Continue reading Major Gainers and Losers on October 5; GRPN, ZNGA, AVP, FSLR, PAY, GMCR

First Solar Shares Surge on Approval from LA County (FSLR)

Shares of First Solar Inc. (NASDAQ: FSLR), a manufacturer and seller of solar modules with an advanced thin-film semiconductor technology, are surging in early trading today after the Los Angeles County Department of Public Works reached an agreement with the company on the installation of solar modules at the Solar Ranch One photovoltaic (PV) power plant. The plant is currently under construction in the Antelope Valley.

Continue reading First Solar Shares Surge on Approval from LA County (FSLR)