Editor’s Note: Related Tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), General Electric Company (NYSE:GE)
Solar panels provide power savings at CV schools (CVR News)
“Win-win situation” may be a cliché, but it well describes the partnership the Chino Valley School district has entered into with SolarCity Corp (NASDAQ:SCTY) and Arizona Public Service to supply solar power to four area schools. Chino Valley Schools Director of Support Services John Scholl said the solar project, which has been in the works for more than a year, will not only save the district $715,000 over 20 years but includes a side benefit of covered parking at all four schools, and will cost the schools nothing. At Chino Valley High School, the SolarCity Corp (NASDAQ:SCTY) company has made use of APS incentives to install the panels atop covered parking structures.
First Solar, Inc. (NASDAQ:FSLR)’s acquisition of General Electric Company (NYSE:GE)’s solar technology brings a stakeholder with connections in the utility industry that may help the renewable-energy manufacturer sell large-scale power plants. First Solar acquired GE’s cadmium-telluride technology portfolio in exchange for 1.75 million shares, the companies said in a statement yesterday. The 1.77 percent stake in the Tempe, Arizona-based solar manufacturer is worth $81.8 million, based on yesterday’s closing price. First Solar, Inc. (NASDAQ:FSLR) also reported profit yesterday that fell short of analysts’ estimates as revenue from its current project pipeline slumped. The shares plunged the most in five months. General Electric Company (NYSE:GE), the world’s largest supplier of power equipment, will now help market First Solar’s panels to companies building large-scale solar farms, according to First Solar Chief Executive Officer Jim Hughes.
SunPower Given New $22.00 Price Target at RBC Capital (SPWRA) (Watch List News)
SunPower Corporation (NASDAQ:SPWR) had its price objective raised by RBC Capital from $19.00 to $22.00 in a research report released on Monday morning, AnalystRatingsNetwork reports. RBC Capital currently has a sector perform rating on the stock. RBC Capital has also modified their ratings on a number of other stocks in the few days. The firm lowered its price target on shares of Yamana Gold from C$14.00 to C$13.00. They have an outperform rating on that stock. Also, RBC Capital reiterated its sector perform rating on shares of Grupo Aeroportuario del Sureste. Finally, RBC Capital lowered its price target on shares of Williams Partners L.P. from $58.00 to $57.00. They have an outperform rating on that stock.
SolarCity results top Street but shares drop 10 pct (Reuters)
SolarCity Corp (NASDAQ:SCTY), the U.S. solar installer backed by Tesla Motors founder Elon Musk, on Wednesday reported better-than-expected quarterly results, but sharply higher costs and an unchanged outlook for the year sent its shares down 10 percent in extended trade. The second-quarter net loss was $23.9 million, or 31 cents per share, compared with a net loss of $25.8 million, or $2.37 per share, a year ago. This year’s earnings per share are based on a much larger number of shares outstanding.
Nasdaq in extreme overbought territory: Bespoke (CNBC)
First Solar’s sales fall 31% to $520m in Q2 (Semiconductor Today)
For second-quarter 2013, First Solar, Inc. (NASDAQ:FSLR) of Tempe, AZ, USA – which manufactures thin-film photovoltaic modules based on cadmium telluride (CdTe) as well as providing engineering, procurement & construction (EPC) services – has reported net sales of $520m. This is down $235m (31%) on $755m last quarter (due mainly to lower systems business project revenues as well as lower module-only sales volume to third-parties) and $438m (46%) on $957m a year ago (due mainly to lower systems business project revenue as initial revenue recognition for AVSR [Antelope Valley Solar Ranch] and the sale of Silver State North were both achieved in Q2/2012, partially offset by higher sales volume to third-party module-only customers in Q2/2013).
With that in mind, here are a couple stories that may get your mind off of the markets:
