It’s been a rough few months for Itron (ITRI), culminating in a 10% plunge several days on news it has likely lost a big smart meter deal with Sempra Energy (SRE) to Esco Technologies (ESE). After the bell today, the stock is continuing to erase that loss after the company reported strong results after the bell.
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Itron (ITRI) smashed analyst estimates, posting a Q2 non-GAAP EPS … Read the rest
Sempra Energy (SRE) will soon make an announcement as to which company will win the estimated $400 million smart meter contract. It had been thought that Itron (ITRI) would win the contract, but today Esco Technologies (ESE) announced it was selected by Sempra for “negotiation of a definitive agreement”.
RBC Capital Markets analyst Stuart Bush called the move unusual and said it implies Esco has a leading position in negotiations. Stifel Nicolaus analyst Jeff Osborne … Read the rest
Needham has initiated coverage on EnerNOC (ENOC) this morning with a Buy rating and $37 price target. Hat tip to Street Insider for the analyst comment.
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“EnerNOC holds the top position among Demand Response (DR) providers in addition to a commanding lead in the C&I space, that appears poised to improve even more in coming years. Further, the company’s technology is industry-leading, provides a scalable platform and … Read the rest
Echelon (ELON) and Convergys (CVG) have announced a collaboration to develop next generation billing solutions for the smart grid. The goal is to allow customers to pass energy usage data from Echelon’s real time system to Convergys real time customer relationship and billing system so they can see how much they’re spending in real time, allowing them to make adjustments for greater energy efficiency.
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General Electric (GE) along with some leading venture capital partners such as Kleiner Perkins, announced today a $200 million contest which seeks to accelerate the advancement of the smart grid and other green energy solutions. The “GE Ecomagination Challenge: Powering the Grid”, invites technologists, entrepreneurs and start ups to share their best ideas.
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Said GE CEO Jeff Immelt, "At GE we have invested broadly … Read the rest
Spain’s top energy company and one of the world’s largest utility companies, Iberdrola, has selected Itron’s (ITRI) smart meter technology for the first phase of its smart meter rollout. Itron will provide the development and integration of the smart meters and the data management software to go with it. The initial deployment calls for 100K meters in the city of Castellon, Spain to be completed by the end of this year with the potential for … Read the rest
Treehugger has an excellent post up that looks at Google’s PowerMeter and whether or not it can replace the efforts of utilities to install meters and connect them to a smart grid. Google’s PowerMeter devices are giving consumers the power to manage their own energy use independent of local utilities, meaning that you don’t have to wait for your local power company to start installing smart meters to get an in-depth view of your energy … Read the rest
American Superconductor (AMSC) reported strong growth again last quarter and beat analyst estimates in the process, by reporting a non GAAP EPS of .18/share which was .02 better than estimates. Revenues were a bit higher than estimates as well at $87.6 million.
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CEO Greg Yurek commented on the year ahead:
“Entering fiscal 2010, we have approximately 90 percent of our forecasted revenues in backlog, which gives … Read the rest
Auriga has reversed its call after last week’s selling, upgrading SunPower (SPWRA) from Sell to Hold. “Shares of SPWRA are now trading below our price target of $15 and are essentially 1.0x book value of $14.26.” The firm expects the company’s presentation following its earnings report tomorrow to be optimistically bullish. While demand for solar continues to improve, the still believe that margins will erode due to increasing competition and maintain the $15 price target. … Read the rest
Deutsche Bank is out with Buy ratings this morning after First Solar (FSLR) and Itron (ITRI) reported strong earnings results last night.
They have upgraded First Solar (FSLR) to Buy and raised the price target from $125 to $155. “The company has demonstrated great flexibility with its business, and has built a captive project pipeline that can insulate the company should individual markets wither, or module ASPs come under great pressure.”
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