Fusion-IO Jumps On Analyst Note (FIO, FSLR, STP, GLW, NOK)
Fusion-IO, Inc.(NYSE:FIO) stock gained 5.70% to $31.08 after Pacific Crest started coverage on shares of Fusion-Io (NYSE: FIO) in a research report released today. The firm issued an outperform rating and a $38.00 price target on the stock. Additionally, analysts predict that Fusion-Io will post $0.38 earnings per share for the current fiscal year. The company is a provider of data-centric computing solutions: a combination of hardware and software that places data closer to processing.
First Solar, Inc.(NASDAQ:FSLR) shares increased 3.15% to $23.85. The company’s Chief Executive Officer Jim Hughes is increasing its efforts to manage power plants that generate electricity from the sun, helping utilities use the technology in a way his rivals in China can’t.
The company plans to build new projects from the Middle East to Australia and use proprietary systems that help power-purchasers manage the amount they buy from solar farms.
Suntech Power Holdings Co., Ltd. (ADR)(NYSE:STP) shares climbed 3.63% to $0.970 after the company announced that in order to reduce production cost and operating expenses, it has temporarily closed a portion of its solar cell production capacity in Wuxi, China and will continue to optimize its organization. After restructuring, the company’s operational solar cell capacity will temporarily be reduced to 1.8GW, module capacity will remain at 2.4GW and wafer capacity will remain at 1.6GW.
Corning Incorporated (NYSE:GLW) shares jumped 2.67% to $13.08 after Goldman Sachs upgraded Corning from Neutral to Buy with a price target of $16.00 from $14.00, citing bottoming LCD cycle, diversification, and capital allocation. The 52 week trading range for the company is $10.62 – $15.75. The shares of the company gained 9% in the last one year.
Nokia Corporation (ADR)(NYSE:NOK) shares dropped 0.69% to $2.88 after the company said it introduced its Lumia 900 in India. Nokia’s Lumia 900 is a former flagship smartphone which will be offered for sale in India for INR 32,999 via Flipkart, whereas Infibeam is offering the same device for INR 32,490.