Shares of Energy Focus (EFOI) got an early bump yesterday on news the company recently landed $3.4 million in new contracts from school districts, county government and a Fortune 500 company. EFOI is in the process of procuring the materials for the retrofits and overseeing the installations.
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Joseph Kaveski, CEO, Energy Focus, Inc. commented: "As I commented in our year end investor call, I am … Read the rest
When you think of growth in solar installations countries like China, Germany, Italy, Spain & the US come to mind, but you rarely hear mention of India. I’ve been saying for some time now that will change and in the past year or so we’ve seen a few more announcements of major deals struck in the Indian solar market. This morning it was announced that Suntech Power (STP) locked up a 100MW solar panel supply … Read the rest
Big news in the solar world this evening. France based Total and Sunpower (SPWRA) will merge to create an international solar powerhouse. Total has launched a friendly tender offer for up to 60% of Sunpower at a price that represents a nearly 50% premium to the current price. Both boards have approved the deal and Sunpower management will remain in place. Total will provide Sunpower with up to $1 billion in credit over the … Read the rest
Solar stocks were under some pressure today after Evergreen Solar (ESLR) and Renesola (SOL) sounded the caution alarm as average selling prices and demand falls on inventory increases and subsidy uncertainties. Renesola reported earnings that missed on the EPS side, but beat on the revenue side. The stock was down nearly 10% at one point and tested some key support around the $8 level earlier this morning.
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MEMC Electronic Materials (WFR) has announced that Wells Fargo (WFC) will invest up to $120 million in SunEdison (subsidiary of WFR) solar projects. This isn’t the first time the companies have worked together. Wells Fargo invested more than $200 million in 2007 for 150 SunEdison solar projects across eight states.
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"Wells Fargo is excited to continue our relationship with SunEdison and expand our commitment to grow … Read the rest
Evergreen Solar (ESLR) has long been a company I’ve singled out here as being one solar company that won’t survive (at least not on its own) and yesterday’s preliminary results is yet another signal that time is running out for ESLR. If I were to take a guess, I’d say bankruptcy within a year is in the cards for this cash burning company.
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CEO … Read the rest
Green Plains Renewable Energy (GPRE) reported results after the bell yesterday that were about inline with what analysts were expecting. The company reported an EPS of .20/share which matched the estimates on revenues of $812 million (a bit above analyst estimate of $789 million). It was likely a strong enough report to keep shares in a technically bullish state (more on this in a bit), but considering the company reported record revenues the drop in … Read the rest
Shares of LSI Industries (LYTS) are breaking out of a downtrend today after the company beat analyst estimates on the EPS side, while missing the revenue estimate. Traders are focusing on the sizable EPS beat with the stock up nearly 10% today. The company posted an EPS of .09/share (vs the estimate for .02/share) on revenues of $64.63 million (missing the analyst estimate for $70 million. The EPS number is a big improvement over … Read the rest
Itron (ITRI) investors could use some good news and they got it after the bell today with the company reporting earnings and revenues that beat analyst estimates. The company reported an EPS of .99 vs the analyst estimate for .95 on revenues of $563.7 million vs the analyst estimate for $551.92. The EPS number was about inline with what they reported on the year ago quarter while revenues increased 13%. The company is currently … Read the rest
GT Solar (SOLR) had a good day today, surging with heavy volume back above resistance of the 50 day moving average after the company announced that China based Guizhou Haotian Optoelectronics Technology purchased $219 million worth of its sapphire crystallization furnaces used for LED lighting production.
GT Solar just recently entered the LED industry last year with the acquisition of Crystal Systems. At the time I said it was a great move for SOLR … Read the rest