Orlando, FL -- (SBWIRE) -- 09/10/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Sunedison Inc (NYSE:SUNE), Dendreon Corporation(NASDAQ:DNDN).
Sunedison Inc (NYSE:SUNE) shares increased 0.64% to $7.82. The company on Sept. 9 said it cut the full-year revenue outlook for its semiconductor business amid weak demand and said it plans to spin off the unit in a $250 million initial public offering to focus on the high-margin solar power business.
The company trimmed its 2013 sales forecast for the semiconductor business by $20 million to $920-$960 million, the second time it has done so. The unit had $917.5 million in revenue in 2012. The company also said it now expects to sell 750-900 megawatts of solar energy systems in 2014, a number that came above above Sanganeria's expectation.
Additionally, the company on Sept. 3 received $67.3 million from three private-equity firms to fund utility-scale solar projects in California. The investment from New Energy Capital Corp., North Sky Capital LLC and EverStream Energy Capital Management LLC allows SunEdison to develop more than 150 megawatts of solar farms in central and Southern California, according to a statement.
Are investors worried about the recent updates with SUNE? Find out with a free trend analysis HERE
Dendreon Corporation(NASDAQ:DNDN) shares gained 6.60% to $3.07. On Sept. 9 DNDN’s stock was rated new Buy by R.F. Lafferty with a price target of $8. Lafferty noted low expectations for Provenge, a drug analysts have strong conviction will have a place in treatment of prostate cancer. Lafferty thinks the company is positioned to turn profitable. Against this backdrop, analysts view risk/reward as positive.
Additionally, The company on August 8 reported results for the second quarter ended June 30, 2013. Net product revenue for the quarter was $73.3 million compared to $80.0 million for the quarter ended June 30, 2012, down 8.4% year over year and up 8.4% on a sequential basis. Net loss in the second quarter of 2013 was $68.8 million, or $0.45 per share, compared to a net loss of $96.1 million, or $0.65 per share for the same period in 2012.
Is DNDN going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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