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☆ SolarEdge might not recover until 2025 as residential solar market struggles to bounce back
▼ + stars: | 2024-02-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

SolarEdge might not recover until early 2025 as the company remains saddled with inventory in Europe and faces weak demand in the U.S., signs that the residential solar market in particular is struggling to bounce back in the face of high interest rates. Citi said SolarEdge remains a high-risk stock with the investment bank slashing its price target by $6 to $83. Cho rates SolarEdge as underweight with a price target of $50, implying 40% downside from Tuesday's close. SolarEdge CEO Lando did provide some brighter news Tuesday, forecasting that the European residential solar sector will bottom in the current quarter and improve thereafter. Investors might receive further insight on where the solar market goes from here when residential installers Sunrun and Sunnova report earnings after the bell Wednesday.

Persons: Zvi Lando, Goldman Sachs, Brian Lee, SolarEdge, Vikram Bagri, Bagri, Ronen Faier, Christine Cho, Cho, Enphase, Badri Kothandaraman, Kothandaraman, Lando, — CNBC's Michael Bloom Organizations: Citi, Barclays, CNBC, Investors Locations: Europe, U.S

☆ SolarEdge tumbles on weak first quarter guidance
▼ + stars: | 2024-02-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

SolarEdge 's stock tumbled Tuesday after the company gave weak guidance for the first quarter. Revenues: $316 million, vs. $354 million expected. SolarEdge reported a net loss of $162 million for the fourth quarter, or $2.85 per share, compared to a net profit of $20.8 million in the year-ago period. Excluding certain items, the company reported a loss of 92 cents per share for the quarter, beating the $1.17 loss per share expected by Wall Street. SolarEdge's posted revenues of $316 million for the quarter, down 65% from the $890.7 million in sales the company reported in same period in 2022.

Persons: SolarEdge, SolarEdge's, Zvi Lando, Lando Organizations: LSEG, Wall

☆ Restaurant stocks McDonald's and Chipotle could be due for a pullback after the market's rally this week
▼ + stars: | 2023-11-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The stock market is enjoying its best week of 2023, but some names may have gotten ahead of themselves. That said, some stocks have become overbought during this week's rally — and could be due for a pullback. MCD YTD mountain McDonald's stock Beverage company Coca-Cola was another one of the several consumer names on this week's overbought list. Here are the 10 most oversold names in the broad market index: Several health-care companies were among this week's most oversold stocks. SEDG 1D mountain SolarEdge shares Revvity, Henry Schein, Align Technology and Fortive are some of the other oversold names from this week.

Persons: McDonald, Kraft Heinz, Amgen, David Palmer, CNBC's, Dr Pepper, SolarEdge, Zvi Lando, Henry Schein Organizations: Dow Jones, Nasdaq, PayPal, Pfizer, CNBC, Beverage, PepsiCo, Monster Beverage, Grill, Darden, Moderna, Enphase Energy, SolarEdge Technologies, Technology Locations: U.S, Europe

☆ SolarEdge shares sink after company offers weak Q4 guidance
▼ + stars: | 2023-11-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Shares of SolarEdge tumbled over 20% in extending trading Wednesday after the solar product manufacturer reported soft guidance for its fourth quarter amid demand struggles in the renewable energy sector. For the overall solar sector, SolarEdge said it expects revenue in the $275 million to $320 million range. At the time, Lando said installation rates for solar panels had declined though those rates typically increase during the third quarter. SolarEdge is based in Israel, but Lando said in October the Israel-Hamas war has not had an impact on manufacturing. The solar sector has faced headwinds over the past year as rising interest rates weigh on the demand for solar energy.

Persons: SolarEdge, Zvi Lando, Lando, Sunrun Organizations: LSEG, Enphase Energy Locations: Europe, Israel, California

☆ SolarEdge forecasts dour Q4 revenue as demand concerns loom; shares plunge
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Miniatures of solar panel and electric pole are seen in front of SolarEdge logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 1 (Reuters) - SolarEdge Technologies (SEDG.O) on Wednesday forecast fourth-quarter revenue below Wall Street estimates on weak demand for its solar inverters, sending the company's shares down 22.3% in extended trade. While in the United States, higher interest rates and a metering reform in California, the country's largest solar market, have dented demand for solar. SolarEdge had trimmed its third-quarter revenue expectations last month due to high inventories and a slowdown in installation which led to substantial cancellations and backlog clearing from its European distributors in the quarter. Peer Enphase (ENPH.O) had also forecast a weak fourth- quarter revenue.

Persons: Dado Ruvic, Zvi Lando, Peer Enphase, Sourasis Bose, Shailesh Organizations: REUTERS, SolarEdge Technologies, Wall, Thomson Locations: Europe, United States, California, Bengaluru

☆ Stocks making the biggest premarket moves: SolarEdge, Intuitive Surgical, Knight-Swift and more
▼ + stars: | 2023-10-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading: SolarEdge Technologies — The solar stock tumbled nearly 29% after the company lowered its third-quarter guidance post market Thursday. Revenue came in at $1.74 billion, versus the $1.77 billion expected from analysts polled by LSEG. Net interest also fell short at $1.29 billion, versus the $1.32 billion expected. Analysts surveyed by LSEG expected 36 cents per share and $1.89 billion of revenue. Analysts polled by LSEG expected a profit of $2.94 per share on revenue of $15.36 billion.

Persons: SolarEdge, Zvi Lando, Sunnova, Swift, LSEG, David Jackson, —, Jesse Pound Organizations: Technologies, Deutsche Bank, Enphase Energy, Schlumberger, Revenue, LSEG, StreetAccount, American Express Locations: SolarEdge

☆ Analysts bail on solar stocks after SolarEdge warning of weak earnings
▼ + stars: | 2023-10-20 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Solaredge 's warning on Thursday of weakening European demand was another red flag following what has already been a tumultuous year for the solar industry. Several Wall Street investment banks downgraded SolarEdge and slashed their price targets in reaction to the preannouncement. Deutsche Bank downgraded SolarEdge , along with peer solar stocks Sunrun and Sunnova , to a hold rating from buy. Analyst Corinne Blanchard halved SolarEdge's price target to $150 from $300, although this still implies 32% potential upside from the stock's Thursday close. Besides waning European demand, Blanchard highlighted that U.S. demand has also declined and may not bottom until early 2024.

Persons: Solaredge, Zvi Lando, Enphase, SunPower, Sunrun, bode, Gordon Haskett, Don Bilson, Corinne Blanchard, Blanchard, Goldman Sachs, SolarEdge, Goldman, Brian Lee, Oppenheimer, Roth, Philip Shen, Julien Dumoulin, Smith, Michael Bloom Organizations: Deutsche Bank, Bank of America Locations: California, SolarEdge, U.S

☆ Stocks making the biggest moves after hours: SolarEdge, Knight-Swift Transportation and more
▼ + stars: | 2023-10-19 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The company reported adjusted earnings per share of $1.46, surpassing analysts' expectations of $1.41 per share. Knight-Swift Transportation — Shares soared 14% after the freight transportation company reported a beat on the top and bottom lines for the third quarter. The company's revenue of $2.02 billion exceeded analysts' expectations of $1.89 billion. Western Alliance posted third-quarter earnings of $1.97 per share, while analysts polled by FactSet forecast $1.91 per share. CSX — The transportation company's shares dipped about 1% after the company's third-quarter earnings fell short of analysts' estimates.

Persons: Zvi Lando, LSEG, Darla Mercado Organizations: Enphase Energy, Swift, Western Alliance, FactSet, CSX, Revenue

Miniatures of solar panel and electric pole are seen in front of SolarEdge logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/IllustrationCompanies Solaredge Technologies Inc FollowAug 1 (Reuters) - SolarEdge Technologies (SEDG.O) forecast third-quarter revenue below Wall Street estimates as demand slows for its solar inverters in the United States and Europe, sending its shares nearly 13% lower in extended trading on Tuesday. The U.S. solar market has been dented by low electricity prices, high borrowing costs and a new metering reform in California, the country's largest solar market. SolarEdge expects third-quarter revenue to average between $880 million and $920 million, compared with analysts' estimates of $1.05 billion, according to Refinitiv data. U.S. solar revenue, however, decreased 23% compared with the last quarter.

Persons: Dado Ruvic, SolarEdge, Johnson Gordon, Zvi Lando, Lando, Mrinalika Roy, Sourasis Bose, Devika Organizations: REUTERS, Technologies, SolarEdge Technologies, Wall, Thomson Locations: United States, Europe, U.S, California, Herzliya, Israel, Germany, Bengaluru

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