October 5, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman commented this morning on the California Solar Initiative, noting that analysis of the CDI Program Data through 3Q2009 indicates continued application growth in California. Key Takeaways middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; In C2009, as of September 30, the CSI has submitted 169MW worth of applications (compared with 185.6MW for all of C2008) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; YTD, the overall market has grown 23% Y/Y middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Residential sector has already reached 103% of its 2008 total middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Government sector has reached 139% of its 2008 total middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Commercial sector is down 25% middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 42% of Q3nbsp; applications came from SunPower (Nasdaq:SWPRA), Suntech (NYSE:STP) or Sharp (7503.T) middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Believes Suntech and Sharp offer the best solutions, while SunPowerrsquo;s market share has flattened to the mid-teens middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; New entrants in the market include First Solar (Nasdaq:FSLR), Yingli (NYSE:YGE) and BP Solar

SunPower Corp. (SPWRA) recently teamed up with SunRay Renewable Energy to construct a 24MW solar electric power plant in Montalto di Castro, Italy. This project is the first phase of a planned 100MW development that is expected to be fully operational in 2010.

This would be Italy’s largest operating solar power plant after completion. Spread over 80 hectares, the Montalto di Castro project is owned by SunRay Renewable Energy. The company has engaged SunPower to design and construct the power plant apart from providing ongoing operations and maintenance services for the project. The project is being financed by a consortium of primary international and Italian. Electricity produced at the plant will find a ready market locally and any surplus will be added to Italy’s national electric grid.

SunPower is focused on tapping the rapidly expanding Italian solar market. Its 2008 acquisition of Solar Solutions, a solar systems integration

...

For Immediate Release

Chicago, IL - June 16, 2009 - 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: Marriott (MAR), Starwood (HOT), National Semiconductor (NSM), Kyocera (KYO) and SunPower (STP).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday's Analyst Blog:

Extended Stay Hotels Bankrupt

The current owners of Extended Stay Hotels (private) acquired the chain in June of 2007, near the peak of the market for hotel assets, for $8 billion. The deal was highly leveraged, reportedly consisting of $7 billion in debt and only $1 billion in cash. With

...

April 24, 2009 ndash; Analyst Notes ndash; Cowenrsquo;s Robert Stone commented on SunPowerrsquo;s (Nasdaq:SPWRA) results for the Q1, noting that the quarter is likely ldquo;the troughrdquo; for the company. He maintains an OUTPERFORM Rating on the stock, seeing a strong second half on identified commercial/utility projects with potential upside in the residential/components business. He sees an upside of 50% vs. the market in 12 months. Financial Results The company reported a 21% Y/Y decline in Q1 revenues to $214 million, with Tom Werner commenting that this was ldquo;the most challenging quarterrdquo; hersquo;s seen since the company went public back in 2005. The companyrsquo;s GM came in at 22.3%$ and a net loss of $4.7 million, or $0.06 per share, compared to net income of $11.9 million for the same period last year. Expectations were for earnings of $0.02 per share. Management forecast revenue in a range of $1.3 billion to $1.7 ...

April 6, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Rob Stone weighed in on the solar sector industryrsquo;s outlook this morning cutting estimates again across his solar coverage on further erosion in ASPs, noting that Q1 results could put some pressure on the group. As he noted, this shouldnrsquo;t be too much of a surprise to anyone, as prices have been on a steady decline over the past few quarters. Stone accordingly made adjustments on all companies he is following including: Key Takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Spot prices on poly have fallen to $80-$100/kg while wafers are about $1.20/watt. Module prices are $2.60 -$2.80, and Stone thinks prices could fall another 5% in Q2. Expect another round of inventory write-downs; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Climate Bill which could include a national renewable electricity standard of as much as 25% by 2025 could be a catalyst for solar, but it could take a while to ...

March 11, 2009 ndash; Analyst Comments ndash; Pacific Crestrsquo;s Mark Bachman reiterated his UNDERPERFORM rating on SunPower (Nasdaq:SPWRA), leading with a recommendation to sell shares, citing SunPowerrsquo;s ldquo;failure to deliver on the technological aspect of its strategyrdquo;, while Cowenrsquo;s Rob Stone reiterated his OUTPERFORM rating, despite cutting 2009/10E revenue and EPS targets. Bachmanrsquo;s Takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Despite claiming diverse customer base, problematic weather in Germany and the recession in the US are negatively impacting performance, and since its reliance on its dealer network impedes revenue visibility further; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; ldquo;No longer willing to pay a premium multiplerdquo; and ldquo;sees downside to $16rdquo; or about 12x FY09E EPS of $1.34. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Thinks CFO comments about Germany and US are signals that Q1 results will disappoint ndash; ldquo;significantlyrdquo; middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Revisiting Jan 27 Downgrade where Bachman stated: technology and cost are broken, Street estimates are too optimistic and data proves out that thin-film (particularly First Solar) ...

NORCROSS, GA - March 3, 2009 - Suniva, Inc., a manufacturer of high value crystalline silicon solar cells, today announced the addition of Mr. PM Pai to its board of directors. Pai is the former Chief Operating Officer (COO) of SunPower (NasdaqNM:SPWRA) and has more than 30 years of manufacturing and mass production experience in a range of industries.

January 30, 2009 ndash; Analyst Comments ndash; Cowenrsquo;s Robert Stone commented on SunPowerrsquo;s Q4 and FY08 earnings reports, as well as its outlook. Earlier this week, Cowen noted that he expected the company to beat the Street, but to revise guidance downward due to the current economic environment. SunPowerrsquo;s results came in showing revenuenbsp; of $401 million and GAAP net income of $0.35 per share, higher gross margins to 29.9% and a cut in revenue guidance to a range of $1.6 to $2 billion.

SunPowerrsquo;s Financial Highlights:

middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 79% Y/Y increase in Q4 revenue of $401 million
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 85% Y/Y increase in FY08 revenue of $1.43 billion
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 506% Y/Y increase in Q4 GAAP net income of $29.5 million, or $0.35 per share fully diluted
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; 902% Y/Y increase in FY08 GAAP net income of $92.2 million, or $1.08 per share fully diluted
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; FY09 revenue guidance in a range of $1.6 to $2 billion
middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; …

January 26, 2009 ndash; Suntech Power (NYSE:STP) has seen its stock decline to $8.87 on Fridayrsquo;s close from $11.80 at the outset of this yearrsquo;s trading session and from the $50 level this time last year. In the past couple months the stock has been seemingly downgraded by the world, which has been warranted in light of erosion in the companyrsquo;s near term outlook. On Friday, although management said revenues for the Q4 would come in higher than previously guided, the Street focused on downbeat margin guidance of -1% to 2% for the period due to an inventory and impairment charge resulting in one-time charges of about $100 million. The question at this point is whether all of the bad news has been priced into the stock. Our FY08 revenue expectations for the company are on the low end of guidance at $1.91 billion, and our income expectations are $86.9 ...

January 12, 2009 ndash; Analyst Comments ndash; Cowen amp; Companyrsquo;s Rob Stone weighed in this morning on Suntech (NYSE:STP), First Solar (Nasdaq:FSLR), Energy Conversion Devices (Nassaq:ENER), China Sunergy (Nasdaq:CSUN), Trina Solar (NYSE:TSL), SunPower (Nasdaq:SPRWA) and Evergreen Solar (Nasdaq:ESLR). The common theme to Stonersquo;s comments is lowering global demand and cutting estimates across his universe of solar coverage. Here are some of his key takeaways: middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Suntech ndash; lowering estimates, 2009/10E shipments to 630MW and 930MW (down from prior 750MW and 1,175MW); trimming ASPs to $3.05 and $2.75 respectively; reducing revenue targets; cutting gross margin and cutting EPS. Maintains OUTPERFORM. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; First Solar ndash; lowering estimates, 2009/10E shipments to 917MW and 1,365MW (down from prior 1,045 and 1,522); trimming 2010 ASPs to euro;1.39; reducing revenue targets and reducing EPS. Maintains OUTPERFORM. middot;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp; Energy Conversion Devices ndash; lowering estimates, 2009/10E shipments of 146MW and 254MW (down from prior 151MW and 278MW); trimming ...