Why Solar Stocks Are Surging Today
1 hr 6 min ago
Solar stocks are surging after the Treasury Department released guidance on the kind of projects that can qualify for clean energy tax credits that was less restrictive than investors feared.
Shares of First Solar (FSLR) were up about 10% in recent trading, making it the best-performing stock in the S&P 500 Monday behind Dayforce. Sunrun (RUN) shares jumped 9%, while Enphase Energy (ENPH) and SolarEdge (SEDG) each added about 4%.
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The “One Big Beautiful Bill” signed by President Donald Trump last month is set to phase out tax credits for new wind and solar projects unless they begin construction by July 4, 2026, and Friday’s guidelines narrow how projects started on or after Sept. 2 can qualify.
Before, developers could claim tax credits as long as they had spent at least 5% of the project cost and could finish construction in four years. The latest guidance eliminates that 5% “safe harbor” rule for larger projects, but preserves it for smaller ones like rooftop installations. Big projects can still qualify, however, if “physical work of a significant nature” is undertaken.
“After weeks of speculation and market coalition around a higher hurdle on both the 5% rule + physical work rule, today’s guidance was surprisingly light on changes,” Jefferies analysts wrote Friday, and called it a “clear win” for residential solar. “Many were anticipating a ‘worst case’ scenario including retroactivity to as early as Jan. 1st and even the continuity [safe harbor] window narrowing from 4-years to 2.5-years.”
Citi called Friday’s guidance “better than anticipated,” as it wasn’t retroactive like some investors had feared. There had also been concerns that the 5% investment requirement would be raised to more than 10% to qualify, they wrote.
How Much Traders Expect Walmart to Move After Earnings
2 hr 40 min ago
Retail giant Walmart (WMT) is slated to report second-quarter earnings before markets open on Thursday, and investors see potential for shares to approach a record high in the days following.
Walmart stock is expected to finish the week roughly 4% above or below last week’s closing price, according to options prices. A move of that magnitude would put shares at either $104, their highest close since February, or $96, a nearly 1-month low.
Walmart stock has notched an average post-earnings move of about 4.2% over the past four quarters. Shares slid 0.5% after Walmart’s most recent report in May, when CEO Doug McMillon warned that tariffs would drive up prices. And the stock slid 6.5% after the company’s February report, when its full-year sales and earnings forecasts fell short of Wall Street estimates. Shares advanced after its two prior reports.
Walmart stock is up about 11% since the start of the year after rebounding from a tariff-fueled slump throughout March and early April.
Investors will be looking to Walmart for clues about how consumers and retailers are responding to President Trump’s tariffs. After a slump in consumer spending this spring, retail sales upticks of 0.9% in June and 0.5% in July “suggest the consumer is on slightly firmer footing headed into Q3,” according to Wells Fargo economists Tim Quinlan and Shannon Grein. Nonetheless, “we are still cautious on the trajectory of spending in the second half amid a moderating jobs market and concerns over higher prices.”
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Regardless of the uncertainty, analysts are overwhelmingly bullish on the stock. All 12 of the analysts tracked by Visible Alpha with recent assessments of Walmart recommend buying shares. The average analyst’s price target of $111 is about 10% above where Walmart was trading midday Monday.
Dayforce Shares Soar on Report of Talks With PE Firm
3 hr 58 min ago
Dayforce (DAY) shares surged Monday on indications that private equity firm Thoma Bravo is in talks to purchase the human resources software provider.
Bloomberg reported that people familiar with the matter indicated that an agreement could be reached in as soon as a few weeks. They added that while the discussions are in the advanced stage, they could be delayed or stumble, and another suitor might emerge.
In a note to investors, analysts at Jefferies noted that considering Dayforce’s stock had lost 28% year-to-date as of Friday’s close and the depressed valuation, “we are not surprised by PE interest.”
The analysts added they also wouldn’t be surprised to see Dayforce trying to sell because of the weakness in the stock price. They explained that it has been “tough sledding” for the company since the shares’ post-COVID highs, and they have underperformed the entire HR software group since the firm’s April 2018 initial public offering.
Dayforce shares were up 26% in recent trading, leading S&P 500 gainers.
Soho House Stock Soars on $2.7 Billion Take-Private Deal
4 hr 30 min ago
Shares of Soho House & Co. (SHCO) soared Monday after the exclusive members club announced plans to go private for roughly $2.7 billion including debt, in a deal involving hotelier MCR and actor Ashton Kutcher.
Shareholders will receive $9.00 per share in cash, well above the club’s $7.64 closing price Friday but much lower than Soho House’s $14 IPO price in 2021. The stock was up nearly 16% at $8.85 in recent trading.
Jose Sarmento / Bloomberg / Getty Images
An investor group led by MCR and its CEO, Tyler Morse, “will acquire the outstanding shares of Soho House not held by certain significant shareholders,” the release announcing the deal said. Billionaire Ron Burkle, Soho House’s executive chairman, and Yucaipa Companies LLC will maintain majority control, while Morse will join the board as vice chairman.
A consortium of strategic investors led by Kutcher will provide new equity capital, with the Hollywood star joining the company’s board once the deal is completed. Funds managed by affiliates of Apollo Global Management (APO) and Goldman Sachs (GS) Alternatives also are providing financing.
Assets of MCR, which the release said is the third largest hotel owner-operator in the U.S., include the TWA Hotel at New York’s John F. Kennedy International Airport, The High Line Hotel and the Gramercy Park Hotel in Manhattan, and the BT Tower in London.
Winklevoss Twins’ Crypto Trading Platform Files for IPO
5 hr 29 min ago
Gemini Space Station, the cryptocurrency trading platform founded in 2014 by famed cryptocurrency investors Cameron and Tyler Winklevoss, has registered to launch an initial public offering.
In a filing with regulators, Gemini said that the number of shares and the price of the offering have not yet been determined.
The company said that it has had a lifetime trading volume of $285 billion and boasted more than $18 billion worth of crypto under custody as of June 30.
Brendan Smialowski / AFP / Getty Images
The Winklevoss twins wrote in the prospectus that with crypto, “a new Golden Age is upon us.” They said the financial markets “are moving onchain” and that “digital assets are profoundly changing the way we transact and store value.” They added that “this is the crypto frontier” and that Gemini is a “Super App” for it.
The company noted that it intended to trade on the Nasdaq under the ticker symbol “GEMI.”
Novo Nordisk’s Wegovy Approved to Treat Liver Disease
6 hr 27 min ago
Novo Nordisk (NVO) shares jumped in premarket trading after the Food and Drug Administration approved the pharmaceutical firm’s popular weight-loss drug, Wegovy, to treat a serious liver disease.
The Denmark-based firm reported the FDA said Wegovy could be used for adults suffering from noncirrhotic metabolic dysfunction-associated steatohepatitis, or MASH, who have moderate to advanced liver fibrosis, along with eating less and exercising more.
Novo Nordisk Chief Scientific Officer Martin Holst Lange noted that the decision means Wegovy is the only GLP-1 obesity medicine that has received regulatory approval to treat MASH. He explained that one in three overweight or obese people suffer from it, with some 22 million Americans among them. He added that Wegovy not only stopped the disease activity, it also reversed liver damage.
The company announced that Wegovy would be available immediately in the U.S. for the treatment of MASH.
Dhiraj Singh / Bloomberg / Getty Images
The approval is welcome news to Novo Nordisk investors, who have seen the U.S.-listed shares slump as competition from others in the weight-loss category has siphoned away sales of Wegovy.
U.S.-listed shares of Novo Nordisk were up more than 4% in recent premarket trading. At the close of trading Friday, the shares were down nearly 40% year-to-date.
Major Index Futures Slightly Lower
6 hr 56 min ago
Futures tied to the Dow Jones Industrial Average were down fractionally.
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S&P 500 futures slipped 0.1%.
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Nasdaq 100 futures declined 0.2%.
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