GT Solar (SOLR) may be great at getting solar manufacturers up and running but in terms of IPO timing it fails miserably. The stock debuted today and did price in the middle of the expected range at $16, raising $500 million, but did so at a time when solar stocks have been getting crushed. The stock closed down more than 10% to $14.45.… Read the rest
Tag Archives: Solar Energy
First Solar (FSLR) Building 10MW Plant for Sempra Energy
First Solar (FSLR), the thin film module maker came out with news this morning that it’s building a 10MW solar plant in Nevada for Sempra Energy with construction already under way and expected to be completed by the end of the year. Sempra will own and operate it upon completion.
As the rest of the solar plays get hit today, FSLR is trading up nearly 3% (the only solar stock up today) and continues to … Read the rest
MEMC Electronic (WFR) Disappoints, Stock Plunges
MEMC Electronic (WFR) is having a rough morning. The stock is down around 20% and now more than 50% off its Dec 2007 high after reporting disappointing earnings results. The company reported EPS of .92/share which missed estimates of 1.00 and also missed on revenues by reporting 531 million (analysts expected 558). The CEO tried to put a positive spin on it:
“MEMC grew sales by 6% sequentially, expanded gross and operating margins by 150 … Read the rest
Sunpower (SPWR) Gets a Buy Upgrade from JANCO
According to StreetInsider.com, JANCO has upgraded Sunpower (SPWR) to a Buy this morning from acccumulate with a price target of $110. JANCO analyst Singh said, “As the price of SunPower stock continues to discount the regulatory headwind at the cost of the Company’s excellent operational performance, any resolution of the outstanding regulatory issues will likely result in substantial upside to the stock price. Furthermore, the increased guidance from management reflects the Company’s ability to … Read the rest
Florida Power & Light (FPL) Set to Begin Construction On Solar Power Facilities
FPL just received approval from the Florida Public Service Commission to begin construction on 3 solar energy centers that will put Florida on the map as the largest supplier of utility generated solar power in the nation.
"Today’s decision by the PSC represents a major step forward in making Florida a leader in solar power generation. At a time of record-setting fossil fuel prices and concern over global climate change, solar power helps to meet … Read the rest
Piper Lowers Estimates on Evergreen Solar (ESLR)
Piper lowered their estimates on Evergreen Solar (ESLR) this morning for the 2nd half of 08 to reflect lower production at the company’s 15MW Marlboro R&D and production plant but believes the longer term growth story is still intact, so they maintain their buy rating with a $14 target.… Read the rest