NRG Energy just announced that it has signed a letter of intent to purchase the South Trent wind farm, a 101 MW wind farm located near Sweetwater, Texas. Once the Public Utility Commission of Texas approves the purchase, the wind farm will become the fourth onshore plant that NRG owns. All of the power produced will be purchased by AEP Energy Partners under a 20-year power purchase agreement.
In a press release, David Crane, … Read the rest
Collins Stewart likes the Suntech Power (STP) earnings report as much as I did and is upgrading the stock from Sell to Hold and has a $14 price target on it. Hat tip to Street Insider for the following analyst comment:
The full details of STP’s blow out 4Q09 can be seen in the attached table, but the highlights are that revenues were 13% above our forecast and an EPS of $0.27 triple our $0.09 … Read the rest
Needham is out with a call following Fuel System Solutions (FSYS) earnings and is maintaining its Buy rating but is slashing the price target from $55 to $35.
Hat tip to Street Insider for the following analyst comment:
“FSYS reported a blowout Q4 with both rev and EPS well ahead of earlier estimates but in-line with pre-announcement. Stronger rev. led by higher growth in the transportation segment (up 95% y-o-y), mainly from the Italian market. … Read the rest
Solarfun Power (SOLF) reported Q4 results about inline with expectations. The company reported an EPS of $0.25 which was one cent better than analyst estimates. Revenue for the quarter was $183.5 million, which compares to the estimate of $184.55 million. The results were very similar to what most of the China solar companies are reporting.. big improvements over the year ago quarter and significant sequential improvement. There is one difference with SOLF in that … Read the rest
Fuel Systems Solutions (FSYS) has reported impressive quarterly results this morning, beating analyst estimates in the process. The company reported an EPS of $1.12 (vs estimates of .98/share) on revenues of $163.7 million (vs estimates of $158.7 million). That’s nearly a double in revenues over the year ago quarter and represents the 3rd straight sequential improvement. On the EPS side, the number improved many times over from the year ago quarter when the company … Read the rest
LDK Solar just announced that it has settled a class action lawsuit that had been brought against the company in the U.S. District Court of Northern California. The settlement is not yet final but has received preliminary approval from the court.
In the settlement, LDK is not admitting wrongdoing, but the company and its insurance carrier will compensate the class members to the tune of $16 million.
In a press release, Xiaofeng Peng, Chairman … Read the rest
Energy Conversion Devices just announced that it has been selected to provide 2.4MWp of Uni-Solar laminates for rooftop installations on ProLogis warehouses in Portland, Gresham, and Clackamas in Oregon. This will be Energy Conversion Devices’ second project with ProLogis and Portland General Electric. The installations will be put in place during the spring and summer of this year.
In a press release, Mark Morelli, ECD’s president and CEO, commented:
“This announcement is another indication … Read the rest
Suntech Power (STP) has absolutely crushed analyst estimates this morning reporting an EPS of .27/share (vs estimates of .11/share) on revenues of $583.6 million (vs estimates of $468). That’s a complete 180 from the year ago quarter when the company posted a .27/share loss. Revenues have now improved sequentially three straight quarters.
Some highlights of comments from the CEO:
– highest quarterly shipment volume in history, continues to expand market share
– cost cutting measures … Read the rest
Ocean Power Technologies (OPTT) received a EUR2.2 million grant from the European Commission to deploy a PowerBuoy wave energy device as part of the WavePort project in Spain. OPTT will be responsibly for the PowerBuoy as well as the underwater pod and will be working closely with the Wave Energy Centre (Portugal), Fugro Oceanor (Norway), DeGima (Spain) and the University of Exeter (UK).
OPTT’s proprietary technologies allow for wave by wave tuning to optimize efficiency. … Read the rest
Darling Intl (DAR) reported results after the bell today that were considerably below analyst estimates. The company reported a Q4 EPS of $0.11, versus the analyst estimate of $0.17 on revenues of $149.6 million, vs the estimate of $163.18 million. That’s a big improvement on the EPS side from the year ago quarter in which the company reported a -.04/share loss, but revenues were flat. Shares are down about 8% AH on the miss.
The … Read the rest