SunPower Corporation (SPWR) Traders Eye a Move Above $20
In the news...
As SunPower Corporation (NASDAQ:SPWR) continues to trek higher, today's option traders are upping the bullish ante from last Friday's optimists. Of the 2,436 contracts traded at SPWR's May 20 call, more than half have crossed at the ask price, implied volatility has surged 29.1 percentage points, and volume is outstripping open interest. In summation, it appears that new positions are being initiated here today.
...traders expect SPWR to move north of the round-number $20 mark by Friday's close -- when front-month options expire. More specifically, the traders will begin to profit with each step above $21.08 (strike plus the volume-weighted average price of $1.08) the stock takes through week's end.
SourceLabels: SPWR, SunPower Corp
Needham & Company Downgrades SunPower Corp. (SPWRA)
Needham analyst says, "We are downgrading SunPower to Hold due to increased downside risk to estimates and currency headwinds. We see increased risk surrounding SunPower's expanded European pipeline of systems business due to the possibility of additional subsidy cuts, currency headwinds and growing macro concerns in Europe. Furthermore, SunPower continues to face pricing pressure despite strong near-term demand. With a lack of near term catalysts, we expect SPWRA shares to remain range bound. Therefore, we recommend investors wait on the sideline at this time."
SunPower Corporation (SPWRA) is down -4% for today.
Labels: downgrade, solar analysis, Solar Stocks, SPWRA, SunPower Corp
SunPower unveils more efficient solar panels
SunPower, a Silicon Valley manufacturer of high-efficiency solar cells, panels, and systems, announced Monday the debut of its its new SunPower E19 Series solar panels, a product lineup that offers an efficiency of 19 percent or greater.
The efficiency figure measures how great a percentage of the sunlight that hits a solar panel is actually converted into usable electricity. The higher the efficiency, the cheaper the cost of using solar energy.
Some companies have reached up to 42 percent efficiency in testing their products. Others have claimed even higher percentages in the lab. But most commercial silicon solar cells average in the 15 percent range.
The E19's panels achieve a higher efficiency by using 3 percent more surface space per cell and by employing an antireflective coating that can capture greater amounts of off-angle light, explained San Jose, Calif.-based SunPower. The coating helps generate more energy per watt than a conventional solar panel. The combination of the coating and larger cells also offer a darker and more aesthetic look to the panels, the company said.
The E19 line includes a 318-watt, 96-cell solar panel with an efficiency of 19.5 percent and a 238-watt, 72-cell solar version with an efficiency of 19.1 percent.
Source:
CNETLabels: solar efficiency, Solar Stocks, Solar Technology, SPWRA, SunPower Corp
SunPower Corporation (SPWRA): Earnings Preview
SunPower Corporation (SPWRA : 18.16, 0.28) is scheduled to report first quarter 2010 results on Thursday, April 22.
SunPower Corporation is a vertically integrated solar products and services company that designs, manufactures and markets high-performance solar electric power technologies. The company operates through two business segments: components segment and systems segment. The Systems Segment represents sales directly to system owners and developers and includes engineering, procurement, construction (EPC) and other services relating to solar electric power systems that integrate the company's solar panels and balance of systems components, as well as materials sourced from other manufacturers. The Components Segment primarily represents sales of the Company's solar panels and inverters to solar systems installers and other resellers, including the company's third-party global dealer network. On April 14, 2009, the Company completed the acquisition of Tilt Solar. In March 2010, the Company acquired SunRay Renewable Energy.
Dec-Q operating EPS of $0.32 vs. $0.27 is $0.07 below my estimate. Sales rose 18% from Oct-Q, reflecting higher shipments in all geographies. Gross margins, below my view, narrowed due to foreign exchange. As expenses rose, the operating margin contracted. Separately, the internal audit committee concluded that '08-'09 income was overstated by about $17 million. I still see pricing pressure from Asia-based competitors with rising conversion efficiencies. While Q4 results confirmed strength of company's components biz, its ability to maintain price premium, guidance suggests back-end-loaded year, higher expenses tied to SunRay purchase. But I feel the company is taking right steps to secure strong pipeline in U.S., Europe, which will become even more important in possible oversupplied environment in H2 '10.
For the 1st qtr 2010, analysts' estimates range from $0.0 to $0.36, with a consensus estimate of $0.09. The consensus EPS forecast has decreased over the past week from -$0.36 to $0.35 and decreased over the past three months from $0.35 to $0.36.
Source:istockanalyst.com
Labels: Earnings, Solar Stocks, Solar Technology, SPWRA, SunPower Corp
SunPower Secures $350 Million Facility
SunPower Corp. (NASDAQ: SPWRA | Quote | Chart | News | PowerRating) (NASDAQ: SPWRB | Quote | Chart | News | PowerRating), a Silicon Valley-based provider of solar cells, solar panels, and solar systems, said that it has signed a new three-year letter of credit facility.
The facility, which SunPower said initially provides for a maximum issuance of $350 million in letters of credit but, at the agreement of the parties, may be increased to a maximum of $400 million, will replace the company's existing $250 million letter of credit facility and will be underwritten by a syndicate of banks that include Deutsche Bank (NYSE: DB), Bank of America Merrill Lynch (NYSE: BAC), Citi (NYSE: C), Credit Suisse, and Barclays Capital.
California-based SunPower designs and manufactures solar technology for residential, business, government and utility customers. The firm has offices in North America, Europe, Australia and Asia.
Source: tradingmarkets.com
Labels: Solar Stocks, SPWRA, SunPower Corp
SunPower Corporation Earnings Today
After the closing bell, SunPower Corporation (SPWRA) will take the spotlight to reveal its fourth-quarter earnings. Analysts surveyed by Thomson Reuters are expecting the solar concern to report net income of 49 cents per share, down from its year-ago profit of 70 cents per share. Sales for the period are expected to arrive at $491 million.
SunPower has a solid history in the earnings spotlight, having exceeded Wall Street's consensus expectations in three of the past four reporting periods. Judging by a recent uptick in call buying, some traders appear to be anticipating another upside surprise.
During the past 10 days, traders on the International Securities Exchange (ISE) have bought to open 3.75 calls for every put on SPWRA, revealing a distinct preference for bullish bets over their bearish counterparts. In fact, this ratio of calls to puts ranks higher than 82.7% of other such readings, indicating that traders on the ISE have rarely shown a greater bias toward calls over puts.
SourceLabels: Earnings, Solar Stocks, SPWRA, SunPower Corp
Zacks Analyst Blog Highlights
First Solar Inc., Southern Company, Suntech Power Holdings Company Ltd., SunPower Corporation and ReneSola LtdFirst Solar Sells Project
First Solar Inc. (FSLR - Analyst Report) has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company (SO - Analyst Report) and Turner Renewable Energy.
The Cimarron I photovoltaic solar power project is adjacent to the Vermejo Park Ranch in northern New Mexico . First Solar is developing the project and is providing engineering, procurement and construction (EPC) services.
First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of carbon dioxide per year.
Construction of the solar array will begin in March, with completion and commercial operation expected by year-end 2010. It will consist of approximately 0.5 million photovoltaic modules constructed with First Solar's patented thin film semiconductor technology.
Turner Renewable Energy is wholly owned by the media magnate Ted Turner.
...
First Solar enjoys a distinct cost advantage over its peers due to its reliance on low cost thin-film cells. However, the advantage is ebbing fast due to falling polysilicon prices. First Solar’s growth potential and that of the solar industry in the aggregate requires a prudent long-term focus on technological enhancements, capacity build-out and cost minimization. Balancing all three aspects would be an uphill task.
Competition in the industry is becoming tougher by the day for U.S. solar players such as First Solar, who has a huge German exposure in its top line compared to its counterparts such as Suntech Power Holdings Company Ltd. (STP - Analyst Report), SunPower Corporation (SPWRA - Snapshot Report) and ReneSola Ltd. (SOL - Analyst Report), whose markets are more diversified.
SourceLabels: First Solar Inc, FSLR, ReneSola, SOL, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
Top 10 Solar Stocks with Highest Short Interest
Below are the top 10 Solar stocks with the highest short interest as a percentage of total shares outstanding. Four Chinese companies (LDK, STP, YGE, TSL) are on the list.
Energy Conversion Devices, Inc. (NASDAQ:ENER) has the 1st highest short interest in this segment of the market. Its short interest is 33.4% of its total shares outstanding. Its Days to Cover is 5.51, calculated as current short interest divided by average daily volume.
First Solar, Inc. (NASDAQ:FSLR) has the 2nd highest short interest in this segment of the market. Its short interest is 18.9% of its total shares outstanding. Its Days to Cover is 7.61, calculated as current short interest divided by average daily volume.
LDK Solar Co., Ltd. (NYSE:LDK) has the 3rd highest short interest in this segment of the market. Its short interest is 18.7% of its total shares outstanding. Its Days to Cover is 7.66, calculated as current short interest divided by average daily volume.
SunPower Corporation (NASDAQ:SPWRA) has the 4th highest short interest in this segment of the market. Its short interest is 15.9% of its total shares outstanding. Its Days to Cover is 7.13, calculated as current short interest divided by average daily volume.
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) has the 5th highest short interest in this segment of the market. Its short interest is 12.4% of its total shares outstanding. Its Days to Cover is 6.74, calculated as current short interest divided by average daily volume.
Evergreen Solar, Inc. (NASDAQ:ESLR) has the 6th highest short interest in this segment of the market. Its short interest is 11.1% of its total shares outstanding. Its Days to Cover is 5.31, calculated as current short interest divided by average daily volume.
Continue
readingLabels: ENER, ESLR, First Solar Inc, FSLR, LDK, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
STP, FSLR and SPWRA Stock Charts
These last weeks were being ruled by the Bears and now we are close to a decisive point in the market.
Most Solar Stocks seem to be reacting after a string of losses, but what we really need is for the Bulls to pull the market up decently in the next few days, or the short to mid term trends will be pointing even lower.
Today's Pre-Market seems to be pointing up, but it's still risky to get long before a confirmation movement is printed on the charts.
Suntech Power Holdings Co., Ltd. (STP):
It's important that STP stays above the $13 support price level and make a movement up soon.
First Solar, Inc. (FSLR):
First Solar looks to be in the weaker technical situation, and must be above $120 or the trend continues to look Bearish.
SunPower Corporation (SPWRA):
SunPower Corp is still above the $20 support but needs a stronger sign from the Bulls.
Labels: First Solar Inc, FSLR, solar ch, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
Solar Stocks Upgrades
Some upgrades for Solar Stocks today:
SunPower (Nasdaq: SPWRA) raised from Hold to Buy. Price target lowered from $30 to $29. Shares are up 2.5% to $21.75 this morning. The firm's new target on SunPower suggests potential upside of 33%.
Suntech (NYSE: STP) raised from Underperform to Hold with a $12 target. Stock is flat in the pre-market session at $13.38.
Solarfun (Nasdaq: SOLF) raised from Underperform to Hold with a $7 target. Solarfun shares are up 0.4% to $7.85. Price target represents possible downside of about 10%.
China Sunergy (Nasdaq: CSUN) raised from Underperform to Hold. Price target raised from $4 to $4.50. China Sunergy is up nearly 4% this morning, last trading at $4.35. Jefferies new target suggests potential upside of about 3%.
Labels: China Sunenergy, CSUN, solar analysis, Solar Stocks, Solarfun, SOLF, SPWRA, STP, SunPower Corp, Suntech Power
Solar Stocks update
NEW YORK (MarketWatch) -- U.S.-listed shares of solar panel makers fell with their brethren in Europe on Wednesday, after the German government proposed a 15% cut in subsidies it provides to the industry. First Solar (FSLR 119.97, -3.97, -3.20%) , a component of the S&P 500 (SPX 1,135, -15.73, -1.37%) , fell 2.7% to $120.60. SunPower (SPWR.A 22.18, -0.86, -3.73%) subtracted 2.3% to trade at $22.50 a share. Suntech Power Holdings (STP 15.05, -0.42, -2.70%) fell 1.6% to $15.23 a share.
Market WatchLabels: First Solar Inc, FSLR, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
SunPower Corporation Earnings
SunPower is down -16% with the troubled news for today:
SunPower Corp (SPWRA.O) is investigating millions of dollars in accounting mistakes over the past three quarters, the U.S. solar module maker said on Monday...
The Silicon Valley-based company said its audit committee had started an investigation after an internal review of its Philippine manufacturing operations found that there may have been unsubstantiated accounting entries.
SunPower Corporation Announces FY 2009 Guidance To No Longer Be Relied Upon; Reaffirms Q4 2009 GuidanceMonday, 16 Nov 2009 04:47pm EST
SunPower Corporation announced that, based upon an internal review of its Philippine manufacturing operations and due to unsubstantiated accounting entries, the guidance provided by the Company for fiscal 2009, should no longer be relied upon. Operationally, the Company's outlook for the fourth quarter of 2009 remains consistent with its previous expectations for sales and operating income, subject to any costs, charges, and tax-related impacts relating to the ongoing investigation. According to Reuters Estimates, analysts on an average were expecting the Company to report EBIT of $65 million on revenue of $491 million for the fourth quarter of 2009
Reuters News on SPWRALabels: Earnings, Solar Stocks, SPWRA, SunPower Corp
Solar Upgrades
Last Week's Upgrades:
Deutsche Bank upgraded shares of SunPower (NASDAQ:SPWRA) from Hold to Buy on valuation. While the firm was disappointed with third quarter margins, they feel fourth quarter numbers will grow as factory utilization improves. With the upgrade, the firm set a price target of $31 per share and set 2011 EPS estimates at $2.30 per share.
More Updates soon!
Labels: Earnings, Solar Stocks, SPWRA, SunPower Corp
German Solar Subsidy
Analysts this morning are parsing the fine print of a four-year coalition agreement ratified in Germany today that will likely have an impact on funding for solar technology projects, and on solar technology vendors such as First Solar (FSLR) and SunPower (SPWRA).
As Bloomberg notes, German Chancellor Angela Merkel’s Christian Democratic Union pushed through measures for a $36 billion tax cut meant to spur economic growth, a compromise with more aggressive proposals. The measures relating to solar funding appear vague and thus open to widely differing interpretations.
The agreement does not call for immediate cuts in the so-called feed-in tariff for solar projects, subsidies that have helped boost German investment in the technology, writes Collins Stewart analyst Dan Ries. The agreement “highlights that the coalition is committed to solar and indicates that the government will pursue a dialog with the solar industry and community leaders to determine if the current subsidy is too generous.”
SourceLabels: First Solar Inc, FSLR, Solar Funding, Solar Stocks, SPWRA, SunPower Corp
SunPower Corporation Upgraded
SunPower Corporation (SPWRA) was upgraded by some analysts, and moved yesterday into new highs.
Macquarie upgraded SPWRA from Underperform to Neutral, and raised price target from $23.50 to $30.
Looking at the chart, there is a price resistance around $34, and if today we get to close above that price, we could be at the beginning of another bullish rally for this solar stock.
With Crude Oil getting very close to $80, Solar Stocks might have enough momentum to keep the current short-term trend up. Most Solar Stocks are now pointing up such as First Solar (FSLR) and Suntech Power (STP), etc..
In my opinion it's the perfect time to jump in now, for a quick trade, as long as today's movement in Solars keeps going up.
Labels: Bullish, First Solar Inc, solar analysis, solar charts, Solar Stocks, SPWRA, SunPower Corp, Suntech Power
Solar Upgrades and Downgrades
Australian firm Macquarie has made several changes to stocks in the Solar sector this morning:
upgrades Yingli Green Energy (NYSE: YGE) from Neutral to Outperform. Shares of Yingli are up 2.6% to $13.06 in the pre-market trading session.
upgrades Sunpower (Nasdaq: SPWRA) from Underperform to Neutral. The stock is up 1.3% to $32.
downgrades First Solar (Nasdaq: FSLR) from Outperform to Neutral. First Solar shares are down slightly to $147.41.
downgrades Suntech Power Holdings (NYSE: STP) from Neutral to Underperform. Shares of Suntech are down 0.13% to $14.87.
The Claymore/MAC Global Solar Index ETF (NYSE: TAN), or commonly referred to as just "the TAN", is up about 0.21% today.
Source: StreetInsider.com
Labels: First Solar Inc, FSLR, solar ETF, SPWRA, STP, SunPower Corp, TAN, Yingli Green Energy Hold
Solar Reversal ?
Solar Stocks started last week with a strong bullish run, with a technical short-term swing buy signal, but the winning streak seems to be over today, with most solar stocks in the negative territory.
Sun Power Corporation and
Suntech Power Holdings Co. are the perfect examples for today's charts.
SPWRA touched a price resistance around $33 and seems to be pointing down for the short-term.
STP backed away form the 50day moving average so watch out for a possible support near the 200MA or $14
Tomorrow we will get the confirmation, if the market keeps heading down, or if it's just another Bear Trap. Intel's earnings today can make a lot of difference.
Labels: solar charts, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
SunPower to Announce Third-Quarter Results
SunPower to Announce Third-Quarter Results on October 22, 2009SAN JOSE, Calif., Oct. 8 /PRNewswire-FirstCall/ -- SunPower Corp. (NASDAQ: SPWRA) (NASDAQ:SPWRB) will announce its third-quarter earnings in a conference call on Thursday, October 22 at 1:30 p.m. Pacific Time. The call-in number is 517-623-4618, passcode SunPower. The event will be webcast and can be accessed from SunPower's website at http://investors.sunpowercorp.com/events.cfm.
Full text of the press release and supplemental financial information will be made available on the SunPower website at http://investors.sunpowercorp.com/ http://investors.sunpowercorp.com/at 1:05 p.m. Pacific Time on October 22.
About SunPower
Founded in 1985, SunPower Corp. (NASDAQ:SPWRA) (NASDAQ:SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
Source: prnewswire.com
Labels: Earnings, Solar Stocks, SPWRA, SunPower Corp
Suntech Power Holdings Co. (STP) Goes up, and then higher
Investors and Analysts started getting very Bearish, right after the market does another relative bottom, so the Market does the opposite and STP gaps up 6% yesterday.
This is the perfect exemple of buy the bad news, sell the bad rumor, and this is the market buying, or covering the shorts, with the bad news all over the internet.
Suntech Power will probably gap up around 3% today, the chart looks good for short-term Bulls.
More in the news, now positive for Suntech Power and negative for SunPower Corp. (SPWRA)
SunPower Losing California Sales to Sharp, Suntech
SunPower Corp., the largest supplier of solar power panels in California, is losing market share to China’s Suntech Power Holdings Co. and Japan’s Sharp Corp. as developers seek cheaper modules, says Pacific Crest Securities.
Sharp has won 28.5 megawatts of solar power projects this year under the California Solar Initiative, topping SunPower’s 26.2 megawatts. Last year, developers chose SunPower for 51.9 megawatts, almost double Sharp’s 27.5 megawatts, said Mark Bachman, an analyst at Portland, Oregon-based Pacific Crest. Suntech orders year-to-date more than tripled to 15.7 megawatts.
“We expect SunPower to continue to lose share as investors are not willing to pay the premium prices for its commodity product,” Bachman said today in a note to clients. Sharp, Suntech and Germany’s Solarworld AG “are best positioned for market share wins in the U.S.”
SourceLabels: Sharp, solar charts, Solar Stocks, solarstocks, SPWRA, STP, SunPower Corp, Suntech Power
PMorgan Solar Picks (ENER, ESLR, FSLR, ASTI, SPWRA)
JPMorgan has decided to make some key solar ratings changes this morning. The firm is cautious on the valuation of some in the position of a declining market trend right now, but there are some key takeaways here that are up as well. Energy Conversion Devices, Inc. (NASDAQ: ENER) and Evergreen Solar Inc. (NASDAQ: ESLR) are up, while shares of First Solar Inc. (NASDAQ: FSLR) are getting slapped on this call today.
Ascent Solar Technologies Inc. (NASDAQ: ASTI) was upgraded to Neutral from Underweight; no trade indications have been seen as this is a low-imapct change. Energy Conversion Devices, Inc. (NASDAQ: ENER) was initiated with an Overweight; shares are trading up 4%. Evergreen Solar Inc. (NASDAQ: ESLR) was the surprise winner as it was upgraded to Overweight from Underweight; its shares are up 10% at almost $2.40 in pre-market trading. SunPower Corporation (NASDAQ: SPWRA) was also upgraded, but only to “Neutral” from Underweight; no trade indications have been yet.
The standout in the group is unfortunately the leader of the whole solar sector. First Solar Inc. (NASDAQ: FSLR) downgraded to Neutral from Overweight. Shares are still seeing thin volume but are indicated down 2% at $152.00.
sourceLabels: Ascent Solar Technologies Inc., ASTI, ENER, Energy Conversion Devices Inc, ESLR, Evergreen Solar, First Solar Inc, FSLR, Solar Ratings, Solar Stocks, SPWRA, SunPower Corp
