Mississauga, ON -- (SBWIRE) -- 05/10/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Solar Alliance Announces 2015 Results, Shares Surge On News."
Companies mentioned in this article include SolarCity Corp. (NASDAQ:SCTY) and Solar Alliance Energy Inc. (TSX-Venture:SAN).
Shares of SolarCity Corp. (NASDAQ:SCTY), a California-based company engaged in the design, manufacture, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers, have plunged in trading today after investors were disappointed with the company's quarterly results and outlook.
While SCTY registered an 82% increase in its first-quarter revenue, investors are mainly disappointed with bookings. SCTY's bookings were around 150 MW lower-than-forecast. As a result, SCTY also reduced its guidance for full-year installations from 1.25 GW to between 1 and 1.1 GW.
SCTY shares were down more than 24%, at last check. The stock is now hovering close to its 52-week low of $16.31.
However, it's not a bad day for all solar stocks. In fact, shares of Canada-based Solar Alliance Energy Inc. (TSX-Venture:SAN) are sharply higher in trading today. Solar Alliance focuses on residential solar installations. Since its inception, SAN has developed more than 360 MW of renewable energy projects and subsequently sold them to utilities or large independent power producers. The company has installed more than 2,000 residential solar systems in southern California.
The full version of this article can be found at:
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