I missed this earlier this morning which certainly helped push the stock significantly higher for the 2nd day in a row. Canaccord Adams upgraded Cree Inc (CREE) from Sell to Hold and raised the price target from $17 to $29.
Hat tip to StreetInsider.com for the following analyst comment.
“Our sources in the supply chain indicate that Cree is likely to see better margins this quarter, and we expect the company could likely beat the … Read the rest
SunPower (SPWRA) has long lagged its solar competitors in stock performance this year and remains submerged below the 50 and 200 day moving averages. Tomorrow, the tide may turn. SunPower just smashed analyst earnings estimates after the bell by reporting an an EPS number of .24/share, beating estimates by .10. Revenues also came in higher than expectations at 298 million. The stock is responding well after hours, soaring about 20%.
Let’s keep it in perspective … Read the rest
Raser Technologies just announced that it has restructured its existing $15 million credit line. It paid off some of the balance and got an extended repayment date for the rest. As part of the new agreement terms, Raser paid off $2.9 million of the principal and $0.4 million worth of accrued interest. The company got an extension of the maturity date on the remaining $10.5 million to July 31, 2010. However, the main lenders can … Read the rest
Uranerz just announced that it has signed a uranium supply contract with Exelon Generation Company, LLC. The contract covers a 5-year period includes defined pricing each year. In the announcing the deal, no other details about the agreement were forthcoming. If you have more information about the terms, feel free to leave a comment!
However, Uranerz investors will probably be happy to know that the company continues to look for other uranium sales agreements to … Read the rest
BorgWarner just announced that it has produced an optimized turbocharger for the new high-torque, 1.8-liter direct-injection gasoline engine from Fiat. BorgWarner’s turbocharger design increases the fuel economy of the engine without sacrificing the level of engine power that people expect from Fiat. BorgWarner unveiled the new turbocharger at the Geneva Motor Show. It will be available consumers in the Lancia Delta and the Alfa Romeo 159.
In a press release, Roger Wood, the president of … Read the rest
First Solar (FSLR) is entering the French market with a splash, announcing this morning a partnership with French utility EDF Energies Nouvelles to build France’s largest solar panel manufacturing plant with annual capacity of more than 100MW of thin film panels.
EDF will finance half of the $126 million cost of the plant in exchange for the plant’s output for the next 10 years. Now that’s what I call locking up supply! No site has … Read the rest
The Exxon algae biofuel news of last week certainly created a nice headline for the industry, generating awareness and interest in a green energy solution that is far away from fueling our cars, but may one day be a key component to eliminating our need for foreign oil. The following post by GreenChipStocks.com has been republished with permission and highlights one speculative algae biofuel play that could yield big time profits for the patient investor. … Read the rest
Energy Conversion Devices just announced the purchase of Solar Integrated Technologies. Energy Conversion Devices paid $16.3 million to buy the PV roofing system manufacturer and installer and assume the company’s debt. They will pay about .11 per Solar Integrated Technology share. Energy Conversion Devices plans to fund the purchase using existing corporate funds.
In a press release, executives from both companies commented on the deal:
Mark Morelli, ECD’s president and chief executive officer said, “The … Read the rest
The nine month takeover drama between NRG Energy and Exelon Corporation is over. NRG shareholders voted to reject the bid yesterday by refusing to elect Exelon’s nominees for NRG’s Board of Directors. They also refused to expand the size of NRG’s Board to include additional Exelon candidates. According to NRG, 75% of its shareholders voted against Exelon.
In an article in the New York Times, Exelon’s CEO John W. Rowe made the following comment:
“The … Read the rest
Yingli Green Energy just made some announcements about its company plans for the China market. First, Yingli has formed a strategic alliance with Guangdong Nuclear Power Holding Co. The companies will work together to find opportunities for on-grid solar projects, both in China and in other countries.
Yingli also announced the creation of two new joint ventures, Hainan Yingli and Hainan Green Islands Power Company Limited. Hainan Yingli is a joint venture between Yingli Green … Read the rest