Stock Market Today: Dow Futures Rise as Debt Ceiling Deal in Focus

The ongoing multi-year growth story could be enough to ultimately drive shares to a new all-time high. FSLR deserves a higher premium given its unique position as a U.S.-based PV module manufacturer. JinkoSolar delivered a trailing four-quarter earnings surprise of 193.96%. The Zacks Consensus Estimate for JinkoSolar’s 2023 sales indicates an improvement of 24.5% over the prior-year reported figure. The Zacks Consensus Estimate for Canadian Solar’s 2023 earnings suggests a growth rate of a solid 54.1% from the prior year’s reported figure.

Meanwhile, new data offered a mixed picture about the health of the U.S. housing market. Housing starts for April rose 2.2% on a monthly basis, beating expectations of a 1.4% decline. But building permits fell 1.5%, versus an expected rise. The 50-day moving average is a short-term technical indicator of where an asset or an index is trading.

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As we mentioned, shares of FSLR have repriced materially higher over the past year based on this expected IRA growth runway. At the same time, these developments, including the domestic content subsidy details, are incremental to the company’s organic growth momentum. FSLR dropped as much as 7% in the extended session Thursday after the solar company reported first-quarter earnings that missed expectations and sales that also missed and w… In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue. By comparison, analysts polled by FactSet expected $1.96 per share and revenue to come in slightly lower at $1.38 billion. We sell different types of products and services to both investment professionals and individual investors.

The new data was in an investor update filed with the Securities and Exchange Commission on Tuesday. Shares of Western Alliance jumped about 7% in extended trading after the bank said that its deposit growth for the current quarter surpassed $2 billion as of May 12. “While McCarthy said a deal is possible by end of this week, the timeline may be by the end of next week ahead of the Memorial Day,” JPMorgan traders wrote. “With that in mind, Equities may trade in a tight range until an outcome is observed with the biggest downside risk coming if we enter Memorial Day weekend without a solution, given the early June x-date.”

Though the specific rules of how to apply the Dow Theory are beyond the scope of this column, I note that Dow theorists interpret the rules differently. As you can see, both Dow averages tend to rise and fall in fairly close lockstep with the S&P 500. The WSJ Dollar Index gained 0.4%, on pace to finish higher for the sixth session in the last eight trading days. PacWest Bancorp and Western Alliance Bancorp led gains, with both rising more than 12% premarket, while others such as Comerica and Zions Bancorporation also rose. On a year-on-year basis however, non-oil domestic exports fell 9.8%, more than the economists’ expectations of 9.4%. Singapore’s non-oil domestic exports in April grew 2.7% compared to the month before, a surprise upside compared to the 3% contraction that economists polled by Reuters were expecting.

Wall Street overall was in a downbeat mood, but these companies had good things to say. New subsidies could be a boost for parts of the solar industry. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. After submitting your request, you will receive an activation email to the requested email address. You must click the activation link in order to complete your subscription.

These Stocks Are Moving the Most Today: Tesla, First Solar, News Corp, Icahn Enterprises, Twilio, and More

Home prices in China fell, with prices 0.2% lower year-on-year, compared to a 0.8% decline seen in the previous month, according to Reuters’ calculations. Regional bank shares rebounded on Wednesday, helping market sentiment, as Western Alliance Bancorp detailed improving deposit growth. The SPDR S&P Regional Bank ETF jumped 2.9%, while Western Alliance soared 10%. We don’t place too much weight on chart analysis over an entire decade, but it’s worth noting that FSLR is currently trading at its highest level since 2008.

Enphase Energy ENPH enjoys a strong position as a leading U.S. manufacturer of microinverters. The company added an automated line at Flex’s factory in Romania. This line, with a quarterly capacity of approximately 750,000 microinverters, will enable a global capacity of nearly six million microinverters per quarter, with plans to of expansion. Solar market in the United States is rapidly gaining traction thanks to federal policies and incentives that aim to ramp up the development of the solar market.

Canadian Solar (CSIQ) to Report Q1 Earnings: What’s in Store?

CSIQ has returned 48.6% to its investors in the past year. The Barchart Technical Opinion widget shows you today’s overally Barchart Opinion with general information on how to interpret the short and longer term signals. Unique to Barchart.com, Opinions analyzes a stock or commodity using 13 popular analytics in short-, medium- and long-term periods. Results are interpreted as buy, sell or hold signals, each with numeric ratings and summarized with an overall percentage buy or sell rating. After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study.

These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. Target shares are wavering premarket, after the retailer said sales growth stalled and profit fell in the most recent quarter.

That overshadowed results from the fourth fiscal quarter. The company reported 20 cents in earnings per share excluding items, above the 17 cents expected by analysts. Revenue also beat expectations at $111 million compared with a $110.1 million forecast.

The Yahoo Finance Live team discusses the rise in First Solar shares after the announcement of its acquisition of Evolar…. FSLR recently acquired the European solar tech firm, Evolar AB, to further augment its research & development abilities in thin film photovolt… Someone with a lot of money to spend has taken a bearish stance on First Solar FSLR.

The firm sees increased odds of First Solar (FSLR) pursuing an incremental U.S. factory given the guidance, which it said would add ~$20/share to its distributable cash flow valuation. And continued bookings in the latter half of the decade at strong ASPs could provide continued momentum for the stock. 15 years of professional experience in capital markets and investment management at major financial institutions.

Management explained some of the quarterly volatility in the timing of orders while projecting optimism for the rest of the year. The U.S. Treasury Department finalized key details that had been missing from the original provisions of the IRA. Specifically, the solar industry had been waiting on clarity for what qualifies as “domestic https://business-oppurtunities.com/what-do-i-want-to-be-when-i-grow-up/ content” in terms of the composition of manufactured products made in the U.S.A eligible for the full tax credit. Our update today notes that the just-released guidance to qualify for full tax credits on renewable projects and solar developments have reinforced the bullish case for the stock, removing one layer of uncertainty.

First Solar has to remit an acquisition price of $38 million. Subject to the achievement of certain technical milestones in the future, the company is accountable to pay an additional price of $42 million. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. June S&P 500 futures (ESM23) are up +0.39%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.32% this morning as market participants awaited an update on plans to raise the U.S. debt ceiling while…

• Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.
• In its fiscal second quarter, the company reported $2.12 in earnings per share without items and $1.39 billion in revenue.
• Meanwhile, regional bank shares are jumping, on track to extend a recent stretch of high volatility.
• Investors need to pay close attention to First Solar (FSLR) stock based on the movements in the options market lately.
• For the current quarter, the company said to expected between $2 and $2.06 in earnings per share for the current quarter, while analysts forecasted $1.96.

Even recognizing what has already been a spectacular rally in the stock over the past year, we see room for shares to climb even higher. The project plan will be carried out in three phases, with phase I being 14 GW of wafer and cell capacity. By Dean Seal

Shares of First Solar are trading higher Friday after the company said it would pay up to $80 million to acquire the perovskite technology company… Stock futures are ticking higher, suggesting major indexes could recover slightly after falling Tuesday on worries about a potential debt-ceiling default. Meanwhile, regional bank shares are jumping, on track to extend a recent stretch of high volatility.

The company reiterated full-year earnings guidance, targeting sales around $3.5 billion, and EPS between $7.00 and $8.00, consistent with the current consensus estimates. Naturally, the higher production targets translate into higher revenues. From the consensus estimates, FSLR is expected to average top-line growth averaging nearly 30% through 2025. With the energy transition upon us, solar stocks offer investors a chance to grab a piece of a fast-growing market. Solar energy output rose 22% in 2021, but that’s only expected to accelerate over th… Dividend yield allows investors, particularly those interested in dividend-paying stocks,
to compare the relationship between a stock’s price and how it rewards stockholders through dividends.

Adjusted EBITDA came in at $48.9 million, ahead of the $45.7 consensus estimate. First Solar shares rose sharply (up 25% at the time of writing) following the U.S. Department of the Treasury guidance on domestic content requirements for solar panels. We raise our fair value estimate to $185 from $174 (based on our current understanding of the requirements) and expect the company to announce a further U.S. capacity expansion in short order. Despite our increased valuation, we view shares as overvalued.

Tech stock Keysight advanced more than 7% after the bell on the back of a strong quarterly earnings report and guidance for the current quarter. When the stock market was bleeding in 2022, energy companies saw record profits and revenues. Russia’s invasion of Ukraine and the reduction in oil production by Russia led to a surge in the oil deman… Their rationale is that the transportation sector is a good leading indicator of the stock market.