Bloomberg: Solar May See More Consolidation, Hanwha Says
Tumbling oil prices will maintain pressure on the solar industry to consolidate by drying up investor interest in building new factories, according to an executive who just carried out a $1.2 billion merger.
Dong Kwan Kim, chief commercial officer of Hanwha SolarOne Co. (HSOL), said the industry has been “unfairly penalized for oil prices” and that the company, which ranks among the top three panel makers, may return to profit this year for the first time since 2010.
“When oil prices were very high and green energy was a sexy, hot sector, I think a lot of money was pouring into overcapacity,” Kim said in an interview at the World Economic Forum in Davos today. “The oil price should help in that sense while not hurting our business materially.”
Benzinga: Morgan Stanley Analyst Explains Tesla's Price Target Cut
Adam Jones, analyst at Morgan Stanley, released a cautious note to investors Wednesday in which he reduced the price target on Tesla Motors Inc. to $280. However, he reiterated his firm’s Overweight rating on the stock. Jones was on CNBC to explain the reasons for the price target cut.
“A few months ago, we were kind of concerned that the stock was running a bit too high for the wrong reasons,” Jones said.
Auto Express: Toyota Mirai Hydrogen Car Scores Surprise Sales Hit
Toyota has announced plans to increase production of its Mirai hydrogen fuel-cell car after first-month orders in Japan tripled projections. The Japanese firm is building 700 customer examples of the car this year, but plans to extend that to 2,000 cars in 2016 and 3,000 in 2017.
Reuters: Oil Jumps as Saudi King's Death Feeds Market Uncertainty
Oil prices rose on Friday after the death of Saudi Arabia's king added more uncertainty to an oil market that has more than halved over the last six months.
King Abdullah bin Abdulaziz died early on Friday and his brother Salman became king of the world's top oil exporter.
Salman named his half-brother Muqrin as heir and nephew Mohammed bin Nayef, 55, as Deputy Crown Prince, moving to forestall any succession crisis at a moment when Saudi Arabia faces unprecedented turmoil on its borders.
U.S. News & World Report: Obama's India Visit May Be Nuclear Power Trip
An energy partnership stalled for years might finally see a breakthrough in the coming days, yielding tens of billions of dollars for private industry.
The Keystone XL pipeline? Dream on, Republicans.
Civilian nuclear power, not oil, could prove a theme of President Barack Obama’s trip to India this weekend, the sixth visit by a U.S. president to a country projected to have the world’s fastest-growing economy by 2017.