Editor’s Note: Related Tickers: First Solar, Inc. (NASDAQ:FSLR), SandRidge Energy Inc. (NYSE:SD), Exxon Mobil Corporation (NYSE:XOM), SunPower Corporation (NASDAQ:SPWR), Chesapeake Energy Corporation (NYSE:CHK)
First Solar plans power clusters near industrial estates (Hindu Business Line)
First Solar, Inc. (NASDAQ:FSLR), the US-based solar photovoltaic products and integration solutions company, is set to take up solar photovoltaic (PV) clusters in India close to existing industrial hubs. Sujoy Ghosh, Country Head-India, First Solar Power India, who is on a visit to the city, said: “These solar PV clusters will be located close to industrial estates and seek to bridge the power supply gap for local companies.” “Since such solar PV projects are modular in nature, we will have the flexibility to set up the required capacity and have the capability to ramp up,” he told Business Line.
Two more SandRidge Energy executives will leave in May (NewsOK)
Two senior executives at SandRidge Energy Inc. (NYSE:SD) are leaving the company, according to a regulatory filing made Friday. Hedge fund TPG-Axon Capital, one of SandRidge’s largest shareholders, was critical of compensation paid to top SandRidge executives as it fought to gain control of the company earlier this year. The impending departure of Todd N. Tipton and Rodney E. Johnson means three of SandRidge Energy Inc. (NYSE:SD)’s top five executives will have left the company since the March 13 settlement between TPG-Axon and SandRidge that ended the proxy fight. Former President Matthew K. Grubb left the company after the settlement was announced, while CEO Tom Ward is expected to leave this summer.
SunPower begins major construction of 579 MW of PV plants in Southern California (solarserver.com)
SunPower Corporation (NASDAQ:SPWR) (San Jose, California, US) has begun “major” construction of the Antelope Valley Solar Projects, which will represent 579 MW of solar photovoltaic (PV) capacity when complete. The two PV plants are located on 13.1 square kilometers in California’s Los Angeles and Kern Counties. SunPower expects to complete the two plants by the end of 2015. “The start of construction on the Antelope Valley Solar Projects underscores that solar is a reliable, cost-competitive energy source,” said SunPower Corporation (NASDAQ:SPWR) President of Regions Howard Wenger.
Energy stocks gain; Southwestern rises 4% (MarketWatch)
Energy stocks advanced Monday, with Southwestern Energy Company (NYSE:SWN) leading the way after the company said it was buying natural-gas assets in the Marcellus Shale from Chesapeake Energy Corporation (NYSE:CHK). Chesapeake Energy Corp. shares rose 0.6%. Chesapeake, the No. 2 largest natural-gas producer after Exxon Mobil Corporation (NYSE:XOM), has embarked on an asset-sale program in hopes of strengthening its balance sheet after lower natural-gas prices in prior years and other problems caused liquidity to dry up.
Exxon Mobil Begins Production at Kearl Oil Sands (Bloomberg)
Exxon Mobil Corporation (NYSE:XOM), the world’s largest company by market value, began production at its Kearl oil sands project in Alberta, which is projected to produce 4.6 billion barrels of recoverable oil in the next 40 years. The project will produce 110,000 barrels per day later this year and that’s expected to…
…double by late 2015, the company said in a statement. The Kearl site is 46 miles (75 km) northeast of Fort McMurray, Alberta, and is operated by Imperial (IMO) Oil Ltd., which is 70 percent owned by Exxon Mobil Corporation (NYSE:XOM). “Kearl is a historic development for Imperial,” Richard Kruger, Imperial Oil’s chief executive officer, said in a statement.
J.C. Penney Company, Inc. (JCP), First Solar, Inc. (FSLR) & Short Sellers’ Four Favorites (Insider Monkey)
Most investors own stocks in the hopes of seeing them rise in value over the years. But for short-sellers, betting against stocks is the name of the game, and profits come when share prices fall. First Solar, Inc. (NASDAQ:FSLR), short position: 30.4% of float and 21% of outstanding shares. The solar industry has been hit hard by overcapacity, but First Solar shocked bears earlier this month with guidance on sales and earnings that was far above what industry analysts were expecting. Moreover, its purchase of TetraSun will help First Solar, Inc. (NASDAQ:FSLR) boost the efficiency of its solar modules, an area in which the company has long lagged some of its competitors. Short-sellers are feeling the squeeze as a result of much higher share prices recently, although the stock still trades well below its levels from early 2011.
Sandridge Could Be Further Negatively Impacted By Poor Trust Well Performance (Seeking Alpha)
ExxonMobil sued for allegedly brutalizing Indonesians (Salon)
Syukri A-Wahap still bears scars from the two days he spent tied to a chair at a military checkpoint here in northern Indonesia in 2003. Indonesian soldiers who suspected he was aiding separatist rebels used their guns to try and beat a confession out of him. With the butt of an SS1 rifle they cracked his skull and busted his lower lip. Syukri says he now suffers from short-term memory loss, pointing to a zigzag scar beneath a shock of thick, black hair. “I didn’t feel anything,” he said, recalling the lengthy interrogations. “It felt like I was already dead.” His story is one of thousands involving kidnap, torture, rape and murder at the hands of the Indonesian military, which some victims here say was aided by US oil giant Exxon Mobil Corporation (NYSE:XOM).
SunPower Corporation (SPWR): The Metric You Have To Keep An Eye On (Insider Monkey)
At the end of the fourth quarter, a total of 9 of the hedge funds we track were long in this stock, a change of -31% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were increasing their stakes substantially. When looking at the hedgies we track…
…Royce & Associates, managed by Chuck Royce, holds the largest position in SunPower Corporation (NASDAQ:SPWR). Royce & Associates has a $8.7 million position in the stock, comprising less than 0.1%% of its 13F portfolio. Coming in second is Philip Hempleman of Ardsley Partners, with a $7.3 million position; 1.5% of its 13F portfolio is allocated to the stock.
ExxonMobil Refuses to Agree to Health and Safety Language during Talks for New Contract at Baytown Complex (Sacramento Bee)
Louisville’s pluses help it land Chesapeake facility (Canton Repository)
Quality schools. Quiet, peaceful streets. A lot of churches. Combine those factors with nearly 300 acres of vacant land next to a major railroad line. Now you know why Chesapeake Energy Corporation (NYSE:CHK) is building a regional field office in Louisville. Chesapeake began looking at Ohio’s Utica Shale formation in 2009, affiliating with local companies to begin signing leases. After spending 2010 securing drilling rights, Chesapeake Energy Corporation (NYSE:CHK) began looking for a place to build a regional field office. The company focused on Stark County and considered more than a dozen sites. Last July the Oklahoma City company bought 284 acres in the Beck Industrial Park on Louisville’s south side.
First Solar Stock Rating Lowered by Raymond James (FSLR) (Daily Political)
Raymond James downgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a market perform rating to an underperform rating in a report issued on Thursday, TheFlyOnTheWall.com reports. First Solar, Inc. traded up 4.33% on Thursday, hitting $45.99. First Solar has a 52-week low of $11.43 and a 52-week high of $41.00. The stock’s 50-day moving average is currently $30.43. The company’s market cap is $4.008 billion. A number of other firms have also recently commented on FSLR. Analysts at TheStreet reiterated a hold rating on shares of First Solar, Inc. (NASDAQ:FSLR) in a research note to investors on Tuesday, April 23rd.
Investors Alert: SandRidge Energy Inc, Freeport-McMoRan Copper & Gold Inc, Arch Coal Inc, Penn Virginia Corporation (SBWire)
ThePennyStockProfiler, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks: SandRidge Energy Inc. (NYSE:SD) moved up 4.77% and closed at $4.83 on a traded volume of 5.31 million shares.The Board of Directors has declared a $3.50 per share semi-annual dividend on its shares of 7.0% Convertible Perpetual Preferred Stock that will be paid in cash on May 15, 2013 to holders of record on May 1, 2013. The company has 3,000,000 shares of 7.0% Convertible Perpetual Preferred Stock outstanding.
