I’m starting to get real interested in shares of MEMC Electronic Materials (WFR) down here and today’s announcement that the company will reinstate their repurchase program may just get me into a small position soon. The program was suspended in April 2009, but has been reinstated. Up to $550 million in repurchase capacity remains and the company may purchase common stock on the open market or through privately negotiated transaction. The program may be modified … Read the rest
Tag Archives: wfr
SunEdison (WFR) Partnering With First Reserve In JV to Provide Funding For $1.5B Of Solar Projects
SunEdison, a division of MEMC Electronic Materials, just announced a new joint venture with First Reserve. The joint venture could provide funding for the acquisition of up to $1.5 billion in solar projects.
To start, SunEdison and First Reserve will contribute an initial equity commitment of 167 million. Combined with additional debt financing under consideration, this will fund the acquisition of $825 million of SunEdison’s solar assets. Depending on market conditions, First Reserve may also … Read the rest
SunEdison (WFR) Leasing Space From Weingarten Realty Investors
SunEdison, a subsidiary of MEMC Electronic Materials, just announced a new agreement with Weingarten Realty Investors to lease space on their unused rooftops for up to 10 MW worth of PV solar installations. Weingarten Realty will then purchase the energy produced by the systems at below-retail rates, or will allow their tenants to do so.
In a press release, Bill Goeke, Senior Vice President, Property Management of Weingarten Realty Investors, commented on the news:… Read the rest
MEMC Electronic Materials (WFR) To Acquire Solaicx
MEMC Electronic Materials just announced that it will be acquiring Solaicx, a company that has developed a patented continuous crystal growth manufacturing technology. This technology enables solar companies to produce more efficient monocrystalline silicon wafers at a low cost.
Solaicx is privately held; MEMC Electronic Materials will pay its securityholders $66 million in cash plus additional cash to cover their costs for recent investments made prior to closing, which is expected to be about $10 … Read the rest
Today’s Analyst Roundup: WFR, FSYS, ORA, ERII, JASO, TSL, ABB, ELON, RBCN
Another wild day and I’m busy watching the market and getting behind on green stocks updates! Lots of analyst rating changes today..
Wunderlich Securities upgraded MEMC Electronic Materials (WFR) from Hold to Buy. Shares of WFR of doing a decent job of holding all time lows despite being hammered after earnings and during yesterday’s market crash. Get a Free WFR trend analysis here.
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Craig-Hallum downgrades Fuel Systems Solutions (FSYS) Buy to Accumulate and slashed … Read the rest
Friday’s Analyst Roundup: AIXG, RBCN, ENOC, BWA, MXWL
It’s always a real challenge to keep up during earnings season and I burned out a bit by Friday. I’ve got a bit of catching up to do today and I start with Friday’s analyst alerts. Hat tip to Street Insider for the analyst comments.
A couple calls on Rubicon Technology (RBCN), the emerging LED play, following its earnings report last week…
Canaccord Adams reiterated a Buy and raised the price target from $30 … Read the rest
SunEdison (WFR) To Build 12 New 1 MW Plants In Italy
SunEdison, a division of MEMC Electronic Materials,has just announced that it has been selected to build 12 new solar power plants in Italy. The plants are to be located in the Lecce, Apulia. Each will have a capacity of 1MW. To finance the projects, SunEdison also announced a financing deal with Norddeutsche Landesbank for 47 million euros.
In a press release, Carlos Domenech, president of SunEdison, commented on the news:
“The announcement of these projects, … Read the rest
MEMC Electronic Materials (WFR) Reports Strong Revenues, But Surprising Loss; Reaffirms Guidance; Shares Down 7%
MEMC Electronic Materials (WFR) is surprising traders after the bell today, but not in the way many expected. With the technical action improving in WFR in recent weeks, they were expected to post a quarterly profit and begin the road to lasting profits. That path remains on hold for now. While the company reported revenues much higher than what analysts expected at $438 million (more than double the year ago quarter), they missed badly on … Read the rest
SunEdison (WFR) To Develop Up To 3 MW For The Remington Group
MEMC Electronic Materials’ SunEdison just announced that it has been selected to develop and construct as many as 14 rooftop solar PV systems for The Remington Group in Ontario, Canada. The systems, with an expected total capacity of up to 3 MW, will be build on top of Remington facilities and the power produced will be purchased by the Ontario Power Authority.
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In a press … Read the rest
Downgrades – CSIQ To Hold, WFR To Sell; ITRI Maintained At Outperform
A few more analyst calls this morning. Collins Stewart has downgraded shares of Canadian Solar (CSIQ) from Buy to Hold and has a $20 – 24 price target on it. They believe that while strong demand has led to a firming of module prices, but it’s so strong that its pulling up the prices of cells and wafers which may weigh on CSIQ margins. Shares of CSIQ are trading down 5% today and appear headed … Read the rest