Solar News: SolarCity Corp (SCTY)’s Acquisition, First Solar, Inc. (FSLR)’s Price Objective & SunPower Corporation (SPWR)

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Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Real Goods Solar, Inc. (NASDAQ:RSOL), General Electric Company (NYSE:GE), Credit Suisse Group AG (NYSE:CS)

SolarCity Corp (NASDAQ:SCTY)Solar Installers’ Stocks Hit Again (247WallSt)
After markets closed Tuesday night, solar installer Real Goods Solar, Inc. (NASDAQ:RSOL) reported that revenues fell 3% and that it took an earnings per share loss of $0.11. Just a week ago SolarCity Corp (NASDAQ:SCTY) also reported a larger-than-expected loss. …SolarCity Corp (NASDAQ:SCTY) forecast a sharp decline in revenue for its current quarter and a larger earnings per share loss than analysts were expecting. Real Goods Solar, Inc. (NASDAQ:RSOL) also said that it planned to look for additional acquisitions, having already acquired two smaller companies. SolarCity Corp (NASDAQ:SCTY) announced yesterday that it had acquired Paramount Solar, a direct marketer of solar energy products. But if Real Goods Solar, Inc. (NASDAQ:RSOL)’ experience with acquisitions is any guide, investors don’t see acquisitiveness as a solution.

First Solar Director Buys $40,680 in Stock (FSLR) (MideastTime)
First Solar, Inc. (NASDAQ:FSLR) Director Richard Chapman purchased 1,000 shares of the stock in a transaction that occured on Friday, August 9th. The stock was purchased at an average price of $40.68 per share, for a total transaction of $40,680.00. Following the completion of the transaction, the director now directly owns 6,509 shares of the company’s stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Several analysts have recently commented on the stock. Analysts at Argus cut their price target on shares of  First Solar, Inc. (NASDAQ:FSLR) from $55.00 to $51.00 in a research note to investors on Friday, August 9th.

SolarCity to pay $120 mln for direct marketing company (Reuters)
SolarCity Corp (NASDAQ:SCTY) on Tuesday said it would buy direct marketing solar company Paramount Solar for about $120 million in a deal that is expected to help the U.S. panel installer cut the cost of acquiring new customers. Paramount Solar is majority owned by Guthy Renker LLC, the direct marketing company best known for its Proactiv skin care line. Guthy Renker’s Chief Executive, Ben Van de Bunt, is expected to join SolarCity Corp (NASDAQ:SCTY)’s board of directors later this year. Paramount has grown rapidly thanks to a business model that relies on virtual sales direct to consumers. SolarCity Corp (NASDAQ:SCTY)’s growth, in comparison, has come from selling systems through its rapidly expanding network of field sales agents. Paramount has sold SolarCity Corp (NASDAQ:SCTY) systems for some time.

The power of First Solar, Inc (NASDAQ:FSLR)’s value (GDPInsider)
Very recently,  First Solar, Inc. (NASDAQ:FSLR) and General Electric Company (NYSE:GE) announced a partnership. General Electric Company (NYSE:GE)’s technology will be used in tandem with First Solar, Inc. (NASDAQ:FSLR)’s solar technology to build large scale solar farms. As far as the solar company’s stakeholders are concerned, this information can have different connotations. Via this deal, First Solar, Inc. (NASDAQ:FSLR) has acquired General Electric Company (NYSE:GE)’s global cadmium-telluride solar intellectual-property portfolio. In lieu of this, First Solar, Inc. (NASDAQ:FSLR) granted General Electric Company (NYSE:GE) 1.75M common stock shares which the latter will retain for a minimum of 3 years. In addition, this partnership includes commercial cooperation of First Solar, Inc. (NASDAQ:FSLR)’s module and General Electric Company (NYSE:GE)’s inverter.

Nasdaq in extreme overbought territory: Bespoke (CNBC)

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