For Immediate Release
Chicago, IL – November 11, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include SolarCity (NASDAQ: –Free Report),SunPower (NASDAQ:(SPWR - Free Report) –Free Report),Guggenheim Solar ETF (NYSEARCA:(TAN - Free Report) –Free Report),Vaneck Vectors Solar ETF (NYSEARCA: –Free Report) and Tesla Motors (NASDAQ:(TSLA - Free Report) – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
Solar Stocks (SCTY, SPWR) Slump on Earnings, Trump Victory
Shares of some of the market’s most popular solar energy stocks, including SolarCity (NASDAQ: –Free Report) and SunPower (NASDAQ:(SPWR - Free Report) – Free Report), as well as the Guggenheim Solar ETF (NYSEARCA:(TAN - Free Report) – Free Report) and the Vaneck Vectors Solar ETF (NYSEARCA: – Free Report), continue to slump Thursday as the market adjusts to Donald Trump’s upset victory in the election and relatively mixed earnings results.
In the midst of a merger with electric car giant Tesla Motors (NASDAQ:(TSLA - Free Report) – Free Report), SolarCity released its third-quarter earnings report on Wednesday. SolarCity posted an adjusted loss of $2.27 per share, narrower than the Zacks Consensus Estimate of -$2.35 per share but well below the -$2.10 per share the company posted last year ( SolarCity Reports Narrower-than-Expected Q3 Loss ).
Although SolarCity was not able to post earnings growth this year, the company’s revenues surged 76.6% to $200.6 million, which beat our consensus estimate of $168 million. Considering its impending deal with Tesla, SolarCity did not provide any guidance in its report.
Another major play in the solar industry, SunPower, also reported its third-quarter results on Wednesday. SunPower posted adjusted earnings of 56 cents per share, which missed the Zacks Consensus Estimate of 67 cents but came in well ahead of last year’s figure of 3 cents per share. The company’s quarterly revenue was up 74.5% year-over-year to $770.1 million, but that figure fell just short of our consensus estimate of $776 million ( SunPower Lags Earnings & Revenue Estimates in Q3 ).
Wednesday’s mixed earnings results come just a day after Donald Trump’s shocking victory over Hillary Clinton, which promises to have serious implications on the energy industry. Trump didn’t shy away from his skepticism about global climate change, and much of his campaign focused on bringing back the traditional energy businesses of coal, oil, and gas.
Although Trump’s specific plans are relatively unclear, it does appear that the President-elect plans to roll back environmental regulations in an effort to support the American non-renewable energy industry.
For a solar industry that has relied on support from the government, this probably spells bad news, and the market knows it. Shares of TAN are down about 6.7% since Tuesday afternoon, and KWT has fallen about 5.5% in that time.
For now, the future of the solar business remains uncertain, and if there’s one thing that investors hate, it’s just that.
Stocks that Aren't in the News. Yet.
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
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