MEMC Electronic Materials (WFR) reported results tonight that were below analyst estimates, but shares are up a few percent in after hours trading. The company reported a non GAAP EPS of .25/share on revenues of $850 million which represented big growth over the year ago quarter of 933% and 138% respectively.
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"Our fourth quarter results extended MEMC’s recent trend of steady improvement, with SunEdison delivering its … Read the rest
Hanwha SolarOne (formerly Solarfun) (SOLF) has signed a 54MW solar supply deal with MEMC Electronics (MEMC) to supply its SunEdison subsidiary for this year for use in utility scale power plants. An optional additional 30MW is available as well.
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Dr. Peter Xie, President of Hanwha SolarOne, commented, "We are pleased that MEMC has again selected us as a supplier of PV modules for SunEdison projects. … Read the rest
Trina Solar (TSL) has announced that its US subsidiary will supply MEMC Electronics (WFR) subsidiary SunEdison with 35MW of solar modules for the rest of this year to be used in projects in the US and Europe.
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“This collaboration once again demonstrates Trina Solar’s ability to partner with leading U.S. solar industry players to create effective PV solutions in the U.S. market,” said Mr. Sean … Read the rest
MEMC Electronics (WFR) was punished yesterday after missing Wall St estimates and appears to be on its way to test all time lows around $10, but the stock may get some relief buying today following two upgrades from Gabelli and Credit Suisse.
Credit Suisse upgraded WFR from Neutral to Outperform and raised the price target from $17 to $19 (nearly a double from today’s prices).
According to Notable Calls, Credit Suisse sees semi prices … Read the rest
MEMC Electronics (WFR) continues to struggle and missed Wall St EPS estimates after the bell today, posting another quarter of red ink at -.02/share (minus one time cost associated with Sun Edison acquisition) Wall St expected a flat quarter and the whisper number actually called for a small profit, so the stock is selling off a bit after hours, but how it trades tomorrow will depend largely on the guidance which the company will give … Read the rest
MEMC Electronics (WFR) reported after the bell tonight and the headlines coming out would have you believe that the quarter was a bit of a disaster with the company posting a .29 EPS loss. Here at GreenStocks I like to dig a little bit deeper and get to what’s really going on after all the one time gains and losses. If you take out the one time restructuring and impairment charge of $39.7 million, a … Read the rest
MEMC Electronic (WFR) announced today it’s diversifying its business with the $200 million purchase of the largest North American solar services provider SunEdison. The payout will include cash and options and is expected to close by the end of the year and begin contributing to earnings in the second half of 2010.
This is a good move in my opinion and positions the company as a complete solar provider while creating greater efficiencies for … Read the rest
In a Barron’s interview this weekend, Hapoalim Securities solar analyst Gordon Johnson reiterated his bearish call on the sector due to oversupply and soft demand. He sees a supply vs demand ratio of 7.1GW:4.4GW for this year and 10.8GW:6GW for next year, so sees it getting worse, not better. When asked about the recent run in solar stocks, he attributed it to the excitement over China’s feed in tariff program and said the excitement is … Read the rest
MEMC Electronics (WFR) is trading down about 5% with heavy volume after it lowered guidance due to a recent failure at its Pasadena, Texas plant. The company has disclosed that on Aug 7th, a portion of the plant had to be shut down due to a major equipment failure and that rebuilding has been more difficult than expected. While the company expects to be back to normal operations by the end of September, lost production … Read the rest
MEMC Electronics (WFR) and Q-Cells of Germany have established a joint venture to build large solar parks it was announced tonight. The equally owned park is in Strasskirchen, and is believed to be the largest ground mounted PV system in the country to use crystalline solar cells with a total capacity of 50MW. It’s being built by Q-Cells and has a completion date by the end of this year. The two companies are investing up … Read the rest