Oct 26 (Reuters) – U.S. power utilities reported higher
quarterly profits on Wednesday, as a pickup in industrial
activity and rate hikes helped sales overcome the drag of a
American Electric Power , headquartered in Columbus,
Ohio, expects to see an improvement in the economy.
By Krishna Das – Analysis
(Reuters) – Chinese solar companies are snapping up their own shares amid a brutal selloff in the stock market, spending crucial resources on the effort rather than conserving cash or spending on new strategic projects.
The buyback programs come as the industry struggles to maintain profitability in the face of rapidly falling prices for solar panels that have driven many of the stocks to multi-year lows.
(Reuters) – Pipeline company Plains All American Pipeline LP (PAA.N: Quote, Profile, Research, Stock Buzz) said it made an unsolicited $1 billion bid for rival SemGroup Corp (SEMG.N: Quote, Profile, Research, Stock Buzz) but the $24-a-share offer was rejected.
Shares of SemGroup soared 19 percent to $28.11 in morning trading on the New York Stock Exchange, indicating investors are looking for a higher bid.
FRANKFURT/NEW YORK (Reuters) – The solar industry is in for a dire quarter as falling government subsidies and low volumes further drive down equipment prices at a time when oversupply has already led many sector players to lower their full-year profit outlook.
A pick-up in demand for solar panels, widely expected by industry players for the second half, failed to materialize, pushing several U.S. companies, most notably panel maker Solyndra LLC, to file for bankruptcy in recent months.
Oct 19 (Reuters) – Freeport-McMoRan Copper & Gold Inc posted better-than-expected quarterly profit on
Wednesday as weak copper prices were offset by soaring gold and
it was able to hold down mining costs
But the world’s largest publicly traded copper producer
lowered its sales forecasts for next year, citing an
“uncertain” near-term global economic outlook.
(Reuters) – Most solar power component makers are coping with lower margins these days because of an industry downturn — but solar inverter makers are suffering less.
Unlike companies that make solar panels and cells, solar inverter makers enjoy some insulation from competition and the weak economy. Their products are complex and harder to make, and prices have stayed relatively stable.
By Krishna Das
(Reuters) – A steep drop in the price of solar panels has been a boon to the companies that install the renewable energy systems on rooftops, and it could set off a wave of consolidation in the sector.
Those installers number in the hundreds across the country, focusing mostly on residential and small commercial market rooftop arrays rather than large-scale multi-megawatt systems under development in the U.S. Southwest.
Oct 10 (Reuters) – A steep drop in the price of solar
panels has been a boon to the companies that install the
renewable energy systems on rooftops, and it could set off a
wave of consolidation in the sector.
Those installers number in the hundreds across the country,
focusing mostly on residential and small commercial market
rooftop arrays rather than large-scale multi-megawatt systems
under development in the U.S. Southwest.
NEW YORK (Reuters) – Westinghouse Solar Inc expects to start posting profits next year after years of losses, as a deal to buy cheaper solar panels should help it cut prices and increase sales, its chief executive told Reuters.
Westinghouse, which makes solar power systems, earlier this year signed a deal to buy solar panels from China’s Lightway, reducing its near-total dependence on Suntech Power Holdings Co Ltd.
HONG KONG/BANGALORE, Aug 26 (Reuters) – China COSCO Holdings
Co Ltd’s president said on Friday that the
company has resolved lease disputes with shipowners on 18
vessels, adding that ship seizures are common during such
Zhang Liang told a video conference in Hong Kong that the
company operated more than 400 bulk cargo ships and the contract
disputes involved only a small number of vessels.