Editor’s Note: Related tickers: SolarCity Corp (NASDAQ:SCTY), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWR), Goldman Sachs Group, Inc. (NYSE:GS), Credit Suisse Group AG (NYSE:CS), Bank of America Corp (NYSE:BAC), Tesla Motors Inc (NASDAQ:TSLA), China Sunergy Co Ltd (NASDAQ:CSUN), LDK Solar Co., Ltd (ADR) (NYSE:LDK)
Barron’s Takes Potshot At SolarCity, Misses By Wide Margin (Forbes)
A story in today’s issue of Barron’s newspaper predicting the end of times for SolarCity Corp (NASDAQ:SCTY) is the literary equivalent of a donkey trying to do calculus. Barron’s exercise in drive-by journalism misses the mark – and does so by a wide margin. The problem has less to do with Barron’s treatment of SolarCity Corp (NASDAQ:SCTY) than its ludicrously inadequate command of the basic mechanics of America‘s electric power industry.
First Solar Stock Rating Reaffirmed by TheStreet (FSLR) (UtahPeoplesPost)
First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating restated by TheStreet in a research note issued on Tuesday, American Banking & Market News reports. The analysts wrote, “First Solar, Inc. (NASDAQ:FSLR) has been reiterated by TheStreet Ratings as a hold with a ratings score of C. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels.
Commit To Purchase SunPower Corp At $12, Earn 15% (Forbes)
Investors considering a purchase of SunPower Corporation (NASDAQ:SPWR) shares, but tentative about paying the going market price of $21.66/share, might benefit from considering selling puts among the alternative strategies at their disposal. One interesting put contract in particular, is the January 2015 put at the $12 strike, which has a bid at the time of this writing of $1.80. Collecting that bid as the premium represents a 15% return against the $12 commitment, or a 10.8% annualized rate of return (at Stock Options Channel we call this the YieldBoost).
SolarCity looks to raise $223.5m selling shares and notes (NewEnergyWorldNetwork)
SolarCity Corp (NASDAQ:SCTY) will offer 2.8m shares at $33.69 each, and underwriters Goldman Sachs Group, Inc. (NYSE:GS), Credit Suisse Group AG (NYSE:CS), and Bank of America Corp (NYSE:BAC) will have the option to purchase a further 420,000 shares within 30 days, SolarCity said in a filing with the US Securities and Exchange Commission. The company is additionally selling $100m in convertible notes in a concurrent offering. If the underwriters exercise an overallotment option, that amount could increase to $115m. CEO Lyndon Rive and Tesla Motors Inc (NASDAQ:TSLA) founder Elon Musk plan to buy a combined 550,000 shares from the underwriters. Musk owns 27 per cent of SolarCity Corp (NASDAQ:SCTY), while Musk’s cousin Rive owns 3.5 per cent.
China Sunergy Presses India to Abandon Dumping Probe (Bloomberg)
China Sunergy Co Ltd (NASDAQ:CSUN) and First Solar, Inc. (NASDAQ:FSLR) of the U.S. urged India to end an investigation into solar equipment dumping, saying the probe is undermined by errors. India, which has increased solar capacity more than 70-fold in less than three years, began examining claims last November that imported photovoltaic cells and modules had been sold below cost, hurting local manufacturers.
Why Solar Stocks Retreated – SunPower, First Solar, SolarCity Corp, Trina Solar, LDK Solar, Yingli Green Energy, JA Solar, JinkoSolar, Suntech, Canadian Solar (PRCarbon)
SunPower Corporation (NASDAQ:SPWR) stock traded lower following the inadequate LDK Solar Co., Ltd (ADR) (NYSE:LDK) earnings which droppedalmost 7.33% in last trading session and is trading at $21.10 with average volume 4.10 million shares. Stocks of SunPower Corporation (NASDAQ:SPWR) fell -1.56% in last current session and is closed $21.48.