energypower
Australia has granted environmental approval for the $19 billion Australia-Asia Power Link, a massive solar power project aimed at exporting electricity to Singapore. The project, developed by SunCable, is expected to generate 6GW of renewable energy, with one-third of this energy transmitted to Singapore via an undersea cable. Once completed in the early 2030s, the project will supply up to 15% of Singapore’s energy needs, marking a significant step towards the region’s energy security and sustainability. Australia-Asia Power Link to create over 14,000 green energy jobsThe Australia-Asia Powe...
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Maxeon Solar Technologies (MAXN) stock price has imploded this year as the company became a penny stock. It has dropped by over 97% this year and by almost 100% from its highest point in 2022. As a result, its market cap has tumbled from over $1.8 billion to $64 million today. Risks outweigh opportunityMaxeon Solar Technologies is an American company that emerged from SunPower, one of the top firms in the industry. It was spun off to be an independent solar panel manufacturer while SunPower focused on distributed generation solar and energy storage provider. In theory, this separation was good...
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Republican Representative Mark Green, who has served Tennessee’s 7th congressional district since 2019, has recently disclosed a lucrative stock trade involving NGL Energy Partners (NYSE: NGL). Green sold between $15,000 and $50,000 worth of NGL shares for $4.74, highlighting his strategic trading prowess and significant gains in a challenging market. Mark Green’s engagement with NGL Energy Partners dates back several years, but his recent trading activity has drawn considerable attention. The journey began in early 2022Over the past two and a half years, Green has adeptly managed to almost do...
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US crude oil prices have surged for the fifth straight day, surpassing $77 per barrel. This climb is driven by heightened geopolitical tensions following the Pentagon’s decision to bolster military forces in the Middle East due to escalating threats from Iran towards Israel. The recent surge underscores the impact of geopolitical developments on global oil markets. WTI and Brent prices rise The West Texas Intermediate (WTI) crude oil for September delivery closed at $77.69 per barrel, marking an 85-cent increase or 1.11% rise. This brings WTI’s year-to-date gain to 8.4%. Meanwhile, Brent crude...
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Vitesse Energy (VTS) stock price has done well after being spun out from Jefferies in 2023. It has soared from a low of $12.18 to a record high of over $26.70, helped by the robust energy prices. Vitesse is a top dividend payerVitesse Energy is a leading player in the energy sector that was recently spun off as a separately traded company from Jefferies, the giant financial services firm. Unlike companies like Chevron and Exxon Mobil, Vitesse does not drill its oil and gas. Instead, the firm acquires and develops fields that are then used by leading operators in the industry. It owns fields in...
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Plug Power (NASDAQ: PLUG) is grappling with a significant revenue plunge as its stock price hits new lows. In its Q2 earnings report released today, the company revealed a 44.9% drop in revenue, totaling $143.4 million for the quarter. The company’s stock fell 2% in trading following the announcement. Despite a slight improvement in earnings per share (EPS) to -$0.36 from -$0.40 a year ago, investors are left questioning the company’s prospects. Operating profit margin plummets The company’s operating profit margin plummeted to -171%, an 80.8% decline year-over-year. High marketing, sales, and...
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Sunrun Inc (NASDAQ: RUN) is up more than 15% on Wednesday after rival SunPower Corporation (NASDAQ: SPWR) filed for bankruptcy following months of struggles related to higher interest rates. SPWR recently faced allegations of financial misconduct which contributed to GLJ Research calling SunPower stock “worthless” in July. But the bane of SunPower could be a boon for Sunrun which is already in talks to bring some of its former dealers on as partners. On the earnings call this morning, Sunrun chief executive Mary Powell dubbed SPWR bankruptcy an opportunity for Sunrun to “gain share in a financ...
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Advanced Micro Devices Inc (NASDAQ: AMD) and Eaton Corporation PLC (NYSE: ETN) are unfairly down following their earnings and, therefore, should be bought on the recent weakness, says famed investor Jim Cramer. He loaded up on 75 shares of AMD and 25 shares of Eaton following the opening bell on Tuesday. His Charitable Trust now owns 425 shares of the chipmaker and 300 shares of the power management company in total. Both AMD and ETN reported solid quarterly results and issued upbeat future guidance last week. Still, both stocks have lost about 7.0% in recent days. Why is Cramer bullish on AMD...
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In 2022, nearly half of all emissions in the United States originated from the industry and electric power sectors, primarily due to fossil fuel consumption for energy. The Environmental Protection Agency identifies additional significant contributors, including personal and commercial transportation and agriculture. Experts suggest that intensifying research into carbon capture and reducing emissions at the source could mitigate these effects. However, industries responsible for high emissions often allocate only a small fraction of their revenues to research and development (R&D). Source: St...
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Chevron Corp (NYSE: CVX) has announced plans to move its headquarters from California to Texas, a strategic relocation that aligns with the company’s response to the evolving political landscape. This move comes as Vice President Kamala Harris’ prospects in the upcoming November elections appear increasingly robust. The decision to shift headquarters reflects broader political tensions. While former President Donald Trump is a staunch supporter of the oil industry, Kamala Harris has been associated with progressive policies that may challenge traditional oil and gas interests. The presidential...
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