Moderations in the data again fueled bets that the Federal Reserve may ease the pace of its monetary tightening campaign, with investors shrugging off Chair Jerome Powell's assertion earlier this month that a policy shift is not imminent.
Meanwhile, Treasury yields tumbled following the report, with the benchmark 10-year note falling well below the 4% level. The technology-heavy Nasdaq Composite ( ^IXIC) advanced a whopping 7.4%, its sharpest climb since emerging from the pandemic crash in March 2020. The S&P 500 ( ^GSPC) rallied 5.5% - its biggest intraday gain since April 2020 - while the Dow Jones Industrial Average ( ^DJI) jumped 1,200 points, or 3.7%, the most since May 2020. Economists surveyed by Bloomberg called for a 7.9% annual rise and 0.5% monthly gain. The Consumer Price Index (CPI) for October reflected a 7.7% increase over last year and 0.4% increase over the prior month, better than Wall Street expected. stocks posted outsized gains Thursday, logging their biggest one-day climb in two years, as Wall Street cheered lighter-than-expected inflation data and monitored midterm election tallies.
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SunPower Corporation (SPWR) : Free Stock Analysis Report (RGSE) : Free Stock Analysis ReportĮnphase Energy, Inc. Click to get this free reportįirst Solar, Inc.
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Price and EPS Surprise | Real Goods Solar, Inc.
In line with this, the Zacks Consensus Estimate for Real Goods Solar’s first-quarter bottom line shows an improvement of 97.6%, when compared to the prior year quarter’s reported figure. Nevertheless, higher revenues generated from the sale of the POWERHOUSE shingles should boost the company’s quarterly earnings significantly. This delay might have an unfavorable impact on the company’s bottom-line performance in the soon-to-be-reported quarter. This in turn led to a significant delay in the commercialization of the POWERHOUSE solar shingles. The company, which had previously expected to obtain the UL product certification in early 2018, ended up receiving the certification in November 2018. On the flip side, the timing for the launch of POWERHOUSE didn’t turn out to be advantageous for Real Goods Solar. In line with this, the Zacks Consensus Estimate for Real Goods Solar’s first-quarter revenues is pegged at $15.8 million, indicating a massive surge of 460.6% from the figure reported in the year-ago quarter. Moreover, with legislation like the California 2020 Solar Mandate and a significant amount of written reservations from roofing companies, we expect the company to have secured ample orders and the upcoming results to subsequently reflect We may expect the upcoming quarterly results to reflect the same. Undoubtedly, the commercialization of this product will boost Real Goods Solar’s revenues in the first quarter of 2019. Following the receipt of the product certification for its POWERHOUSE 3.0 solar shingle system in November 2018 and the California Energy Commission’s approval to market the same in January 2019, Real Goods Solar started manufacturing and commercializing this system.
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