Matt's Feed
Jun 7, 2011

SunPower trims margin view

NEW YORK, June 7 (Reuters) – SunPower Corp (SPWRA.O: Quote, Profile, Research, Stock Buzz) gave an
improved second quarter revenue forecast but said a global slump
in solar panel prices would weigh down profit margins over the
rest of the year.

The U.S. solar panel maker on Tuesday raised its second
quarter revenue forecast range to between $550 million and $600
million from the $500 million to $550 million it had forecast
last month.

Jun 1, 2011

Marathon to pay $3.5 billion for Eagle Ford assets

HOUSTON/NEW YORK (Reuters) – Marathon Oil Corp (MRO.N: Quote, Profile, Research, Stock Buzz) will buy oil and gas properties in Texas’ Eagle Ford shale field for a pricey $3.5 billion from private equity firm KKR & Co (KKR.N: Quote, Profile, Research, Stock Buzz) and Hilcorp Resources Holdings LP, the companies said on Wednesday.

Shares of Marathon fell nearly 3 percent as investors fretted about the deal’s high price tag.

May 26, 2011

First Solar: are the shorts right?

LOS ANGELES/NEW YORK, May 26 (Reuters) – First Solar Inc
(FSLR.O: Quote, Profile, Research, Stock Buzz) became the world’s most valuable solar company because
its cadmium telluride panels are the cheapest in the industry.

Investor euphoria for green technology sent the Wall Street
darling’s shares to an all-time high of $317 in May of 2008,
just 18 months after debuting on the market at $20 a share.

May 25, 2011

Suntech Q1 profit up, forecast cut hits stock

NEW YORK, May 25 (Reuters) – Suntech Power Holdings Co Ltd
(STP.N: Quote, Profile, Research, Stock Buzz) reported a 54 percent jump in quarterly profit but
warned that its full-year sales would fall short of its prior
target as prices for its solar modules decline, sending its
shares lower on Wednesday.

The company, the largest global producer of the modules
that turn sunlight into electricity, said its shipments and
revenue in the first quarter were hurt as the uncertainty over
subsidies in Italy stalled sales, echoing comments made by
others in the sector.

May 25, 2011

Suntech Q1 profit up, but forecast cut hits shares

NEW YORK (Reuters) – Suntech Power Holdings Co Ltd reported a 54 percent jump in quarterly profit but warned that its full-year sales would fall short of its prior target as prices for its solar modules decline, sending its shares lower on Wednesday.

The company, the largest global producer of the modules that turn sunlight into electricity, said its shipments and revenue in the first quarter were hurt as the uncertainty over subsidies in Italy stalled sales, echoing comments made by others in the sector.

May 12, 2011

First Solar’s power plants near U.S. loan decision

NEW YORK, May 12 (Reuters) – Three of First Solar Inc’s
(FSLR.O: Quote, Profile, Research, Stock Buzz) largest solar power plants are moving ahead toward
approval of U.S. government loan guarantees, according to
letters issued by the U.S. Energy Department, sending First
Solar shares up as much as 5 percent.

The letters, dated May 10, were posted on First Solar’s
website and show the company’s planned AV Solar Ranch One,
Topaz and Desert Sunlight power plants, which together would
have a capacity of more than 1,300 megawatts, must be reviewed
and receive a conditional commitment for approval by June 16.

May 10, 2011

JA Solar profit shines, Trina cuts view

NEW YORK (Reuters) – JA Solar Holdings Co Ltd (JASO.O: Quote, Profile, Research, Stock Buzz) posted profits that topped Wall Street forecasts, sending it shares higher, while rival Trina Solar (TSL.N: Quote, Profile, Research, Stock Buzz) cut its quarterly sales forecast and saw its shares sink.

The two China-based solar makers said cuts to renewable energy subsidies in Italy had sapped sales, but both expect to meet their full-year forecasts, putting more pressure on them to deliver strongly in the second half.

May 2, 2011

Arch to buy International Coal for $3.4 billion

NEW YORK (Reuters) – Arch Coal (ACI.N: Quote, Profile, Research, Stock Buzz) will buy smaller peer International Coal Group Inc (ICO.N: Quote, Profile, Research, Stock Buzz) for $3.4 billion to create the second-largest U.S. producer of steel-making coal, the companies said on Monday.

The deal is the latest in the coal industry, following Alpha Natural Resources’ (ANR.N: Quote, Profile, Research, Stock Buzz) $6.6 billion plan to buy Massey Energy (MEE.N: Quote, Profile, Research, Stock Buzz) and Walter Energy’s (WLT.N: Quote, Profile, Research, Stock Buzz) $3.3 billion agreement to buy Canada’s Western Coal.

Apr 29, 2011

Chevron profit rises 36 percent with oil price surge

NEW YORK/SAN FRANCISCO (Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz), the second-largest U.S. oil company, reported a larger-than-expected 36 percent rise in earnings on Friday, as oil prices surged and refining improved along with global fuel demand.

Oil company profits have been boosted by the jump in crude prices above $100 per barrel last quarter because of a growing need for energy worldwide as well as unrest in the Middle East and North Africa.

Apr 28, 2011

Exxon, Shell profits surge on higher oil prices

LONDON/NEW YORK (Reuters) – Exxon Mobil Corp and Royal Dutch Shell Plc posted steep jumps in first-quarter profits and beat analysts’ forecasts, helped by high oil prices and buoyant refining margins.

Profits for the world’s biggest oil producers have surged as oil prices moved above $100 per barrel in the first quarter on unrest in the Middle East and Africa and growing global demand for energy.

    • About Matt

      "Matt is the Team Leader for the Raw Materials Group and is based in New York. He has worked in Reuters' bureaus in New York, Houston and Amsterdam."
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