Sunpower (SPWR), the big US solar power manufacturer and project developer, posted a surprising non GAAP profit after the bell last night and the stock has rocketed higher today on heavy volume. The CEO acknowledged it was a messy quarter of one time adjustments and costs, but on an adjusted basis taking out one time charges, the company posted .16/share in profit which was well ahead of analyst estimates that called for a .05/share loss. … Read the rest
Tag Archives: spwr
Sunpower Ticker Symbol Change to SPWRA from SPWR
The ticker symbol for Sunpower’s Class A shares will change from SPWR to SPWRA today. Class B shares of the stock will trade as SPWRB with the changes coming as a result of the recent spinoff from Cypress Semiconductor (CY), which was a majority shareholder of Class B common stock.… Read the rest
Energy Bill Extending Renewable Energy Tax Credits Lifts Solar Stocks
With the bill to extend investment tax credits for renewable energy (finally!) past the Senate, Shares of several stocks that had taken a beating began to rise again. For example, shares of Energy Conversion Devices (ENER), which had taken a nosedive of 18.5% on Tuesday, were back up by 13 percent, to $63.79. Solar Integrated Technologies, one of Energy Conversion Devices major clients, lowered its guidance for the second half of 2008 based in part … Read the rest
SunPower (SPWR) Announces That Stock Price Has Hit Trigger To Allow Conversion Of $200M Senior Convertible Debentures Due 2027
SunPower announced today that the price of its A common stock has been greater than or equal to S70.94 for 20 out of the past 30 days. $70.94/share is 125% of the conversion price for one series of SunPower’s senior convertible debentures. The series in question is a $200 million aggregate principal amount of 1.25% senior convertible debentures due 2027. Holders of this series of debentures may convert them if they wish, starting in the … Read the rest
Sunpower (SPWR) Completes Largest Solar Rooftop Installation At Toyota (TM)
Toyota Motor (TM) and Sunpower (SPWR) have announced the completion of the largest single room solar power installation (2.3MW) in North America at Toyota’s North America Parts Center in Ontario, California.
The installation is expected to provide 60% of the total electricity needs for the 760K sq foot building and includes 10417 T10 Solar Roof Tiles, the most efficient in the industry. The company expects to avoid 6.4 million pounds of carbon dioxide emissions every … Read the rest
Applied Materials And SunPower Team Up to Create Most Powerful Corporate Solar Power Installation In The US (AMAT, SPWR)
Applied Materials announced on Friday that it has completed a 2.1 MW solar power installation over its corporate headquarters, the largest corporate solar power installation in the country. To create the installation, Applied Materials used technology from SunPower- a 950-kilowatt SunPower PowerGuard installation and a 1.2-megawatt SunPower Tracker setup, which are manufactured using technology from Applied Materials. These solar panels form canopy over the Applied Materials parking lot, generating power and shading employees cars. Parking … Read the rest
Piper Jaffray Comments On Solar Exposure to Lehman (JASO, SPWR, ESLR)
According to StreetInsider.com, Piper Jaffray analyst Jesse Pichel has commented on the solar stocks that are related to the Lehman bankruptcy, saying that Sunpower (SPWR), JA Solar (JASO) and Evergreen Solar (ESLR) are negatively affected with respect to prior convertible bond transactions and stock lending agreements. The firm said it would be prudent to assume the worst.
On JASO: “We estimate JASO would realize ~4% dilution on stock and incur a non-cash write off … Read the rest
Solar Energy Gets A Shout-Out From Cowen and Co. Analyst
… Read the restMSN Money reports that on Thursday, Robert W. Stone, an analyst from Cowen and Co, released a report providing an upbeat analysis for solar energy stocks. Assuming a investment tax credit in the US for solar power, as well increased participation from utilities and the states, demand for solar should climb from 6 gigawatts in 2008 to 14 gigawatts in 2010. He also expects use of solar power to grow in Italy and France, and
SunPower Corporation up 2.27% (SPWR)
Askstockguru.com notes that Sunpower Corporation is in a "bullish" phase right now. The site recommends waiting until the price drops back down to 90.05/share if you are aggressive, and 78.6/share if you are conservative. The article also advises potential investors to:
… Read the restRisk Management: Consider risking somewhere between 7.6785(7.95%) and 12.7975(13.25%) points on your position. Risk management is an important part of trading. Our risk management strategy is based on the average daily range of the
Upgrades & Initiations to Buy: APWR,SPWR, EMKR
A few upgrades of green energy stocks this morning:
* A-Power Energy (APWR) Started at a Strong Buy by Raymond James
* Sunpower (SPWR) upgraded from Neutral to Buy on valuation and the PG&E deal by Merril Lynch
* Stanford Group initiates coverage on EMCORE (EMKR) with a Buy rating… Read the rest