MEMC Electronic Materials (WFR) is reporting Q4 preliminary results this morning. The company anticipates revenue in the range of $753 – $792 million with non GAAP EPS loss in the range of .17 – .23/share.
==> Click Here For Your FREE Daily WFR Analysis
"We responded to the continuing cyclical downturn in the semiconductor industry and the severe market disruption in the solar market by taking decisive action through a significant restructuring that we believe … Read the rest
Solar stocks got a jolt of buy interest last week, but have been giving some of that back. That continues today after US solar manufacturer and developer MEMC Electronic Materials (WFR) reported results that were below analyst estimates. The company reported an EPS of .03/share vs the expectation of .10/share. On the bright side, the company beat analyst estimates on the revenue side posting $859 million vs the estimate for $782 million. The stock is … Read the rest
SunEdison, which is a subsidiary of MEMC Electronic Materials (WFR), announced it has sold another 33MW in solar systems in Italy and Spain to German investment company KGAL. KGAL purchased 20MW last quarter bringing the total to 53MW which WFR will continue to maintain and operate under long term agreements.
==> Click Here For Your FREE Daily WFR Analysis
Pancho Perez, General Manager of SunEdison for Europe, Middle East, North Africa and Latin America commented, … Read the rest
You get the feeling that shares of MEMC Electronic Materials (WFR) are beginning to offer a tremendous opportunity for those that have a longer holding time frame. A few insiders certainly do, including the CEO and CFO. With shares of WFR at nearly 10 year lows, both have done some buying giving the stock a boost today of about 15%. The purchases were actually made on August 5th, but the news is providing the catalyst … Read the rest
MEMC Electronic Materials (WFR) beat estimates after the bell today and shares initially surged about 5% on the news, but have since given back much of the gain likely due to soft guidance. The company reported a non GAAP EPS of .29/share on revenues of $779 million vs the analyst estimate for .08/share on revenue of $700 million.
==> Click Here For Your FREE Daily WFR Analysis
CEO Ahmad Chatila commented: "Our second quarter results … Read the rest
MEMC Electronic Materials (WFR) announced earlier today that it has purchased the US subsidiary of Fotowatio Renewable which the CEO said provides them with an opportunity to grab a leading position in military solar installations as well as a nice compliment to its Sun Edison solar project subsidiary. MEMC will pay about $135 million for Fotowatio plus a potential deferred payment of up to around $100 million depending on Fotowatio performance targets.
==> Click Here … Read the rest
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.
==> Click Here For Your FREE Daily WFR Analysis
"Wells Fargo is excited to continue our relationship with SunEdison and expand our commitment to grow … Read the rest
Two solar industry heavyweights announced a 50/50 joint venture for solar cell production in China today. JA Solar (JASO) and MEMC Electronic Materials (WFR) will build and operate a solar cell production facility in China with phase 1 calling for 250MW of capacity which may be expanded up to 1GW.
> Click Here For Your FREE Daily MEMC Electronics Analysis
"We are delighted to embark on this exciting initiative with MEMC, and to continue our … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials (WFR), and Arizona Public Service have announced plans to build a 10MW utility scale solar plant located near the Prescott Regional Airport. SunEdison will own and operate the plant while APS will be purchasing the output which would meet the electricity needs of 2500 residents in the area. This project adds to the previously announced 20MW and 17MW plants the companies will partner on in the area. However, … Read the rest
SunEdison, a subsidiary of MEMC Electronic Materials (WFR), and Xcel Energy (XEL) have broken ground on 54MW in solar projects in New Mexico. The project will cover five separate sites in two counties and are expected to be completed by the end of next year. SunEdison will build, finance and maintain the projects while Xcel Energy will ultimately purchase the electricity under a 20 year power services agreement. The projects help the state reach its … Read the rest