markets

Yiwen Lu10/23/24

Enphase Energy stumbles and takes other solar stocks with it

Shares of Enphase Energy, which sells solar panels and batteries to homes and businesses, fell about 17% before the market opened on Wednesday, making it the biggest laggard among S&P 500 companies during premarket trading. The stock clawed back some of its losses on market open, but was still down roughly 12% as of 10 a.m. ET.

During the latest quarter, the company’s adjusted earnings per share were $0.65 per share, 16.8% less than analyst expectations of $0.78 per share. Revenue for the quarter was $380.9 million, an over 50% year-over-year decrease. This is also the sixth consecutive quarter that Enphase Energy missed estimates. The underperformance was primarily a result of declining demand in Europe, where shipments dropped 15% compared to the last quarter. US shipments, meanwhile, trended higher and drove a 43% revenue increase in the region.

Enphase Energy’s stock is down more than 70% since its December 2022 peak. Other solar energy stocks, including First Solar, SolarEdge and Sunrun, all declined alongside Enphase.

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markets

J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise

Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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