After four straight quarters of sliding revenues and profits, it appears the smart grid sleeping giant Itron (ITRI) has been awakened and ready for years of extraordinary growth. Ok, maybe that’s a bit optimistic, but she has clearly turned the corner with a very impressive quarterly earnings report after the bell today. The company smashed conservative Wall St estimates of .60/share by posting a non GAAP EPS of .82 share on revenues of $477 million. … Read the rest
All posts by Tate Dwinnell
Broadpoint AmTech Maintains Buy Rating On First Solar (FSLR) Ahead Of Earnings
I posted earlier about FBR Research and Piper Jaffray maintaining their ratings on First Solar (FSLR) ahead of earnings and Broadpoint is chiming in with a maintain as well. They have a Buy rating and $165 price target on FSLR and are holding to it through earnings on Thursday. Hat tip to Street Insider for the following analyst comment:
“FSLR is scheduled to report 4Q09 results on Thursday, after the market close. We anticipate healthy … Read the rest
Suntech (STP) Supplies Panels To Power Lebanese Schools
In what is Lebanon’s largest social initiative to date, Suntech has supplied its local partner Asaco General Trade & Contracting with solar panels that will supply power to 19 remote Lebanese schools. The schools were previously depended on the power grid, but because they were located in such remote areas, they suffered through frequent blackouts that made it difficult for the students to learn. To help, Asaco created customized systems for each school using Suntech … Read the rest
Raser Technologies (RZ) Receives $33 Million DOE Grant, Shares Surge
Raser Technologies (RZ) received another life line today, this time in the form of the U.S. Treasury for $33 million as part of the American Recovery & Reinvestment Act. Raser is expected to receive the funds in about a week and will be used to retire debt and obligations related to its Thermo No. 1 geothermal project which has so far been a money pit. The company will continue to seek additional financing to … Read the rest
Piper Jaffray Reiterates Overweight On First Solar (FSLR) Ahead Of Earnings
Yesterday FBR Research reiterated its Underperform rating on First Solar (FSLR) and this morning Piper Jaffray is holding firm with its own rating of Outperform. The firm has a $127 price target. Hat tip to Street Insider for the following analyst comment:
“Based on strong sector fundamentals, and channel checks with customers, we anticipate an in-line to better 4Q09 given sector strength and sold out conditions. We anticipate reiterated and unchanged 2010 guidance noting FSLR … Read the rest
FBR Research Maintains Underperform On First Solar (FSLR) Heading Into Earnings
Earlier today FBR Research came out with an update on its rating of First Solar (FSLR) and the firm isn’t budging. It maintains an Underperform rating and a $100 price target heading into earnings on Thursday.
Hat tip to Street Insider for the following analyst comments:
“We expect First Solar to meet or exceed our in-line with consensus estimates for 4Q09 when it reports on Thursday after the close. Due to demand pull-in in Germany … Read the rest
Constellation Energy (CEG) Commits $90 Million To Commercial Solar Projects
Constellation Energy (CEG) announced today that it will commit $90 million to the development of commercial solar projects. In order to capitalize on the benefits of government funding Constellation will only fund project that begin before mid 2010 and are at least 500kW. About $18 million in funds have been committed to projects that will begin development soon in Maryland and New Jersey.
Michael Smith, VP of Green Initiatives For CEG, said, “Constellation Energy’s … Read the rest
Tetra Tech (TTEK) Awarded $40 Million Wind Farm Deal (Keenan II)
Tetra Tech (TTEK) announced about an hour ago that they have been awarded another contract to help complete the Keenan II Wind Farm in Oklahoma. They provided engineering services to the adjacent and recently completed OU Spirit Wind Farm as well as environmental and permitting work for Keenan. This new $40 million contract is for the designing and building of Keenan for CPV Keenan II Renewable Energy LLC. Siemens is providing and erecting 66 2.3MW … Read the rest
Dustin Shindo Steps Down As Hoku (HOKU) CEO
Hoku just announced that effective March 31, Dustin Shindo will step down as Hoku chairman, president and CEO, although he will continue to serve the company in advisory position as a consultant. Shindo advised that he was stepping down for “personal reasons.”
Mr. Wei Xia, a member of Hoku’s board of directors and vice general manager of Baoding Tianwei Group, will be taking over the role of chairman of the board. Scott Paul, Hoku’s chief … Read the rest
A-Power (APWR) Takes Another Step Towards 600MW Texas Wind Farm Development
A-Power Energy (APWR) has announced this morning that it has taken another step towards the development of the 600MW, $1.5 billion wind farm in Texas. Through its subsidiary Shenyang Power, the company has established a project company, made an initial investment of $36 million and received final approval from the Chinese National Development & Reform Commission. Shenyang is partnering with US Renewable Energy Group, Cielo Wind Power under the umbrella of a Delaware limited … Read the rest