ANAHEIM, California (Reuters) – The U.S. wind industry is growing again after taking a big step backward last year.
Yet turbine makers and wind farm developers are finding few reasons to celebrate as the clean energy source struggles to secure long-term government support while facing stiff competition from cheap natural gas.
LOS ANGELES (Reuters) – Lauren Alaina overcame a blown out vocal chord to become the judges’ favorite to win the “American Idol” title on Tuesday, topping rival country singer Scotty McCreery with an emotional song dedicated to her mother.
Alaina, who is just 16 and has dreamed of being on the show since she was 6, appeared set to become the show’s first female winner since Jordin Sparks in 2007 as well as its youngest ever “American Idol.”
LOS ANGELES (Reuters) – Chinese solar panel maker Trina Solar Ltd said profit margins in the current quarter would be hurt by a rise in global inventories, sending its shares to a five-month low and sparking a broad sell-off in solar stocks.
Trina, which also reported a lower-than-expected first-quarter profit on Tuesday, warned last week that shipments in the January-March period would miss previous estimates by 10 percent because of a cut in solar power subsidies in Italy, which has hampered demand and sent solar panel makers’ inventories climbing.
LOS ANGELES, May 12 (Reuters) – U.S. solar panel maker
SunPower Corp (SPWRA.O: Quote, Profile, Research, Stock Buzz) on Thursday offered a second-quarter
revenue forecast that was below market estimates and said it
would soon revise its full-year outlook because of subsidy
cutbacks in Italy.
LOS ANGELES, May 11 (Reuters) – A hefty foreign exchange
loss hurt solar panel maker Canadian Solar Inc’s (CSIQ.O: Quote, Profile, Research, Stock Buzz)
first-quarter profit, and shares fell 2 percent in extended
The company backed its shipment forecast for the year and
said it saw “significant declines” in raw material costs this
quarter which would help lessen the impact of falling prices on
, May 6 (Reuters) – Occidental
Petroleum Corp (OXY.N: Quote, Profile, Research, Stock Buzz) shareholders voted in favor of keeping
close tabs on executive pay at its annual meeting on Friday,
during which the company also lauded the accomplishments of its
lavishly paid outgoing CEO.
Occidental shareholders voted to hold a say-on-pay vote
every year, rather than every two or three years. The company
held its first ever advisory vote on compensation last year as
it faced increasing pressure over the size of its management
LOS ANGELES, May 5 (Reuters) – Power One Inc (PWER.O: Quote, Profile, Research, Stock Buzz),
which makes inverters for the solar power industry, reported
sharply higher quarterly earnings on Thursday and offered a
revenue forecast that assuaged market concerns about a build-up
of inventories, sending its shares up 6 percent.
Net income was $30 million, or 20 cents per share, compared
with $4 million, or 4 cents per share, a year ago.
LOS ANGELES, May 4 (Reuters) – Silicon wafer maker MEMC
Electronic Materials Inc (WFR.N: Quote, Profile, Research, Stock Buzz) on Wednesday reported
quarterly revenue that topped expectations and its shares rose
5 percent in after-hours trade.
MEMC supplies the raw material for the solar and
semiconductor industries, and the St. Peters, Missouri company
said sales benefited during the first quarter from demand for
wafers from solar customers and sales at SunEdison, a solar
power developer that it acquired in 2009.
LOS ANGELES (Reuters) – First Solar Inc’s first-quarter profits topped Wall Street expectations and the company stuck to its 2011 outlook, but it warned the solar market would face a tough second half of the year, sending its shares down more than 8 percent.
The world’s most valuable solar company said much of its sales and earnings for the year would be pushed into the second half of 2011 due to delays in closing a U.S. Department of Energy loan guarantee for a large Arizona project and subsidy changes in top European markets that are hammering demand and sending panel prices down rapidly.
LOS ANGELES, May 3 (Reuters) – First Solar Inc (FSLR.O: Quote, Profile, Research, Stock Buzz)
reported a sharp drop in quarterly net earnings on Tuesday due
to lower selling prices and higher costs, and its shares slid
almost 5 percent in after-hours trade.
The world’s most valuable solar company posted quarterly
net earnings that topped Wall Street estimates and left its
full-year forecasts unchanged. But some analysts said investors
wanted more detailed guidance from the industry bellwether amid
fears that European subsidy cuts will hammer demand.