Boston, MA 05/29/2014 (wallstreetpr) – First Solar, Inc. (NASDAQ:FSLR) has renewed its components agreement with 5N Plus Inc, a Canadian company that provides specialty purified metals used in the production of photovoltaic modules. The new agreement runs through March 2019 and comes with attractive costs for First Solar. In addition to the favorable pricing, First Solar expects to benefit from the high quality components from 5N Plus.
The development comes at a time when First Solar, Inc. (NASDAQ:FSLR) recently won contracts to build a total of 43MW of solar power plants in California. Work on the two projects is expected to start this quarter. The company also recently announced selling its 250MW project in Nevada.
First Solar earned $1.10 per share in the most recent quarter, beating the consensus estimate of $0.56. Revenue for the quarter was $950 million, above $838 million that analysts estimated.
Uranium Energy Corp. (NYSEMKT:UEC) announced the acquisition of the Longhorn Project that is located central Live Oak County, Texas. The company said the project eliminates major hurdles such as permitting challenges, and that expedites its regulatory process. The company’s CEO, Amir Adnami, hailed the acquisition. He expects it to be another booster to the company’s profitability. Uranium Energy Corp. (NYSEMKT:UEC) has recently come to be known for its cost-saving measures that seek to improve shareholder return.
NRG Energy Inc (NYSE:NRG) earned a backing from the analysts at Goldman Sachs Group Inc (NYSE:GS). The analysts boosted their rating on the stock of NRG to “Conviction Buy” from “Buy” in the previous note. The backing comes on the back of 1Q2014 performance improvement.
The company saw its loss narrow to $56 million or $0.18 per share, against a loss of $332 million or $1.03 per share in the same period a year earlier. The quarter saw operating revenue up 68 percent to $3.49 billion. Analysts expected a loss of $0.13 per share on revenue of $2.13 billion.
NRG Energy Inc (NYSE:NRG) looks forward to 2014 adjusted EBITDA between $3.2 and $3.4 billion. It previously guided between $2.7 and $2.9 billion.
