Editor’s Note: Related tickers: First Solar, Inc. (NASDAQ:FSLR), Exxon Mobil Corporation (NYSE:XOM), Chesapeake Energy Corporation (NYSE:CHK), Chevron Corporation (NYSE:CVX)
First Solar Stock and Solar ETFs Are Hot (Wall Street Sector Selector)
The event was caused by a massive amount of short-covering in First Solar, Inc. (NASDAQ:FSLR) stock after the company issued impressive 2013 guidance, with full-year earnings expected between $4.00 and $4.50 a share on sales of between $3.8 billion and $4 billion. Analysts had been expecting to see earnings guidance of $3.51 a share in 2013 on sales of approximately $3.1 billion. Trading in First Solar stock was halted on the Nasdaq exchange during Tuesday’s session, in accordance with the guidelines on triggered circuit breakers.
Cassidy Turley will handle divestiture of Exxon Mobil campus (Virginia Business)
Exxon Mobil Corporation (NYSE:XOM) has selected Cassidy Turley, a large commercial real estate firm with offices in Washington, D.C., to provide divestiture services for Exxon Mobil’s 117-acre corporate campus in Fairfax. Cassidy Turley said in a press release that it will explore various disposition, project leasing and other value enhancement strategies for the campus at 3225 Gallows Road. Exxon Mobile announced plans last year to relocate operations at its Northern Virginia campus to a new corporate campus currently under development in suburban Houston.
Chesapeake Energy may benefit from Utica lease sales (Akron Beacon Journal)
On April 9th it was announced that Chesapeake Energy Corporation (NYSE:CHK) would be putting up 94,000 of the 1,000,000 net acres of the Utica shale formation for sale. According to Ben Lefebvre, “The land which includes three wells (two of which are operated by Chesapeake) is being sold in an effort for Chesapeake to focus on its other, more valuable, Utica-based holdings”. If and when Chesapeake does find a suitor, the company may be able to generate a pretty penny for the acreage as Tyler Crowe of the Motley Fool recently noted, “While the assets for sale are a more speculative play that has yet to be fully assessed, assets in the Utica could be a hot commodity.
More Reason to Expect Exxon and Chevron Dividend Hikes (24/7 Wall St.)
There is a reason that we expect solid dividend gains from Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX). While it is important that Exxon catches up to Chevron in yield, these companies have given internal raises. If they are raising pay internally, then they almost certainly will raise the payout for their common shareholders. After all, there has not exactly been a new floodgate opened in the past year as far as business conditions, and it is not as though oil went to $120 per barrel again.
First Solar: Is The Latest Move Just A Short Squeeze? (Seeking Alpha)
First Solar, Inc. (NASDAQ:FSLR) had the highest one day rise last week since going public. The move came after the company raised guidance and announced that it would acquire Silicon Valley startup TetraSun for an undisclosed amount from JX Nippon Oil Energy Corp and other investors. The acquisition will give First Solar an opportunity to enter markets where limited space requires higher efficiency, such as rooftops. The 45% rise in one day was probably amplified with short covering, and the short interest is being gradually reduced since October 2012. The share price is up 220% since early June 2012. Was the move just another short squeeze, or is there real buying power behind it?
Bank of New York Mellon to appear in court in Chesapeake Energy Corporation (NYSE:CHK) bond issue (PR Carbon)
The United States based lender Bank of New York Mellon Corporation has fallen back from argument that Chesapeake Energy Corporation (NYSE:CHK), a natural gas producer, should pay extra interest payment of nearly 400 million US dollars to bond holders if it loses lawsuit to redeem 1.3 billion US dollars in bonds early at par.
Exxon to remove damaged part of Arkansas oil pipeline on Monday (Reuters)
A 52-feet section of Exxon Mobil Corporation (NYSE:XOM)’s damaged Arkansas crude oil pipeline will be cut and removed on Monday, the company said. The portion of the Pegasus pipeline, which ruptured on March 29 resulting in a 5,000-barrel oil spill, will be transported to an independent third-party laboratory for…
