Latest news with #InvescoSolarETF
Calgary Herald
4 days ago
- Business
- Calgary Herald
Hedge funds flip on green energy and start betting against oil
Article content For green investors, it's been 'less bad than expected,' said Nishant Gupta, founder and chief investment officer of Kanou Capital LLP, an energy transition-focused hedge fund. 'There's been more protection around US domestic production than expected.' Article content And this year's tariff wars have coincided with a broad rebound in green stocks. Since Trump first unveiled his proposed tariffs on April 2 — dubbed Liberation Day by the White House — the main S&P index tracking clean energy stocks has added about 18%. Over the same period, the main S&P index for oil companies is down around 4%. Article content Much of the clean-energy rebound has been driven by solar. The Invesco Solar ETF, a widely tracked exchange-traded fund packed with solar stocks, is up more than 18% since April 2. Article content More hedge funds continue to be short stocks in the Kraneshares Electric Vehicles and Future Mobility Index ETF than long — a constant since 2021 as China has steadily displaced Western manufacturers. But the share of net shorts dropped to 2.87% in June, which is the second-lowest level in almost half a decade. Article content Article content At the same time, there's an expectation among fund managers that the continued rise in sales of EVs globally will reduce the need for petroleum. That matches BloombergNEF estimates, which anticipate a 25% annual increase in EV sales this year. BNEF also expects that about 40% of vehicles on the road could be electric by 2040, displacing 19 million barrels of oil a day by that year. Article content The strategy shift among funds reflects the fact that economic growth without low-carbon energy is now inconceivable, according to Trium's Mares. Article content 'If we are going to continue to grow both in developed and emerging economies, we're going to need a lot of energy,' he said. 'A big chunk of the marginal growth in energy over the last 10 years has come from renewables and it's hard to see why that isn't going to continue.' Article content MethodologyBloomberg Green analyzed anonymized weekly data that around 700 hedge fund managers disclosed to Hazeltree, from January 2021 through 27 June 2025. The hedge funds in the Hazeltree database vary in terms of assets under management, and the analysis is not weighted by hedge fund assets or size of position held. Collectively, AUM for the hedge funds analyzed is around $700 billion. Total assets under management in the hedge fund industry were around $4.7 trillion at the end of the second quarter 2025, according to Hedge Fund Research. Bloomberg also interviewed hedge fund managers on their oil and energy transition bets and on trends from the data analysis. Article content Article content Hedge funds mostly provided their data to Hazeltree via prime brokers. There is a possibility that some positions may not be disclosed. These will not be included in Hazeltree's data or in the Bloomberg analysis. Article content Hazeltree's data reports percentages of the hedge funds that held net long positions and net short positions for a specific stock. Bloomberg's analysis categorized roughly 230 stocks based on key ETFs or indices for a sector, and further calculated a sector-wide monthly average. In some cases, the same company could be included in different sectors. Four stocks didn't appear in the Hazeltree data provided to Bloomberg.
Yahoo
08-07-2025
- Business
- Yahoo
Solar stocks nosedive following surprise White House move
Solar stocks nosedive following surprise White House move originally appeared on TheStreet. Following months of bankruptcies, policy shocks, and stubborn rate headwinds, solar stocks finally got a breather when Congress eased off part of its tax clampdown. However, when things looked like turning around for clean energy, another twist landed, halting the recent rally in solar stocks. 💵💰💰💵 Fresh moves out of Washington have flipped the script yet again, knocking investor hopes in the process. Now, the whole sector is bracing for what comes ahead. It's been less about the underlying technology shifts than the shifting positions in Washington. Without that crucial 30% federal Investment Tax Credit and Production Tax Credits, rooftop solar names like Enphase () and Sunrun () were staring down big hits to demand and quickly shrinking margins. Also, key utility players like First Solar () lost out on bids as financing dried June 17, the Invesco Solar ETF () tanked over 10% on renewed Senate proposals to phase out all credits by 2028, sparking massive sell-offs across the board. In a surprise turn of events, on July 1, lawmakers scrapped a looming excise tax on foreign-made panels. Many experts, though, called it a temporary reprieve, resulting in a snapback for most beaten-down names in the solar sector. Yet the broader threat remained alive, with long-term credits expected to be phased out over the next three years. More Tech Stock News: Google's quiet AI win spells trouble for Amazon Nvidia-backed stock sends a quiet shockwave through the AI world Veteran Tesla analyst drops 4-word call Moreover, solar projects stand to struggle without fresh incentives or lower borrowing costs. In short, solar's fate has been mostly linked to policy tweaks and a make-or-break catalyst for this once-sunny sector. Solar stocks just got another gut punch, and this one's come straight from the top. On Tuesday, President Trump signed an executive order tightening the screws on solar and wind tax credits while doubling down on the One Big Beautiful Bill Act passed July 4. The order tells the Treasury Department to solidify the repeal of these credits and crack down even harder on what Trump deems 'unreliable' wind and solar energy. The White House's statement makes clear that green subsidies are out, and U.S. energy 'dominance' comes first. Naturally, Wall Street didn't take it Energy and AES Corp. led the S&P 500 losers early Tuesday, sinking 5.1% and 4.1%, respectively. NextEra Energy shed 3.8%, First Solar dropped 3.4%, and NRG Energy slipped 3.2%. Residential solar names, in particular, had it even worse. Sunrun tanked nearly 10%, Shoals Technologies fell 8%, and Array Technologies lost over 4%. Solaredge, another major solar inverter player, slid 3.8%. The new order is in line with a fresh deal President Trump's team has worked with the House Freedom Caucus, which effectively pushes for closer oversight of green energy perks. In exchange, the goal is to secure stronger backing for the broader spending plan. The numbers show the crippling impact. Under the previous law, developers could claim a 30% federal tax credit for solar through 2032. That window slams shut after 2026 unless projects have already broken ground or are complete by 2027. Without these subsidies, the capital will likely flee to other sectors with more predictable support, putting the clean energy space on thin stocks nosedive following surprise White House move first appeared on TheStreet on Jul 8, 2025 This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared. Sign in to access your portfolio
CNBC
03-07-2025
- Business
- CNBC
Stocks making the biggest moves midday: First Solar, CrowdStrike, Datadog, Robinhood and more
Check out some of the stocks making the largest moves in midday trading. Solar stocks – Companies tied to renewable energy rose in midmorning trading as President Donald Trump's megabill crept closer to passage before a White Houe July 4 deadline. While the measure has no new carveouts for clean energy, earlier this week the Senate version of the bill dropped a tax on solar and wind projects . Panel manufacturer First Solar jumped 8%, and manufacturer of solar microinverters Enphase Energy added 5%. The Invesco Solar ETF (TAN) advanced more than 3%. CrowdStrike – The cybersecurity company saw shares surge roughly 4%. Wedbush Securities analyst Dan Ives lifted his price target on the stock to $575 from $525, citing "increased momentum in the field around its cyber platform approach ... CrowdStrike remains one of our favorite tech names and we are seeing deal momentum spread with AI also a clear tailwind for this well positioned tech leader," he wrote Thursday. Synopsys , Cadence Design Systems — Shares of the Silicon Valley-based chip designers rallied more than 4% each. The U.S. government lifted restrictions on exporting chip-design software to China, according to announcements from companies in the industry. Datadog — The cloud monitoring provider surged more than 12% after S & P Global added it to the S & P 500 index , effective before trading starts July 9. The move will force passive index funds to buy Datadog shares to reflect the composition of the underlying benchmark index. Tripadvisor — The online travel review company climbed 16% following a report in The Wall Street Journal that activist investor Starboard took a 9% stake. Robinhood — The online brokerage fell 4%, giving back some of its 6% rally from Wednesday. Robinhood was seen as a leading candidate to replace Juniper Networks in the S & P 500, and privately held OpenAI is pushing back against Robinhood's recent announcement of tokenized shares in the artificial intelligence startup. Crypto stocks — Stocks with ether (ETH) treasury ambitions extended gains a second day amid a surge of renewed interest in stablecoins and stock tokenization, both of which are largely supported by the Ethereum network. Bit Digital rose 6%, while betting platform SharpLink Gaming jumped 2%. Bitmine Immersion Technologies soared 35%, and has surged more than 1,000% since announcing its own ETH treasury plans Monday. Kratos Defense and Security Solutions — The drone maker added 2% after RBC Capital Markets reiterated an outperform investment opinion. The firm raised its 12-month price target on Kratos, believing small-cap defense stocks will continue to outperform, driven by growth in fiscal 2026 defense spending and "valuation mismatches." Kratos shares hit a fresh 52-week high earlier this week. — CNBC's Tanaya Macheel, Pia Singh, Jesse Pound, Dylan Butts, Michelle Fox and Nick Wells contributed reporting.
Miami Herald
03-07-2025
- Business
- Miami Herald
Solar stocks' nightmare year just got a plot twist
It's been a terrible ride for solar stocks this year. Heightened interest rates, surprise bankruptcies, and political gut punches have dished out a monumental beating on solar energy plays. Don't miss the move: Subscribe to TheStreet's free daily newsletter However, if Wall Street's whiplash this week says anything, this industry still has a ton of fight. A fresh twist in D.C. has given beaten-down solar stocks a jolt of hope, though whether it sticks is another story altogether. Since January, the biggest names in solar have been under relentless pressure. Higher borrowing costs have slammed solar projects this year, leading to multiple bankruptcies from Sunnova to Solar Mosaic. Also, state moves like California's NEM 3.0 net-metering shakeup compounded sector woes. The cracks in the residential and community solar setups were laid bare by essentially gutting resale values. Consequently, we've seen the Invesco Solar ETF (TAN) lagging the broader market by roughly a third, while major players like First Solar (FSLR) , Enphase (ENPH) , and Sunrun (RUN) are trading deep in the red. Related: Solar stocks sent reeling by Congress Then came the massive policy earthquake. Senate Republicans slipped into the latest tax-and-spending bill an amendment to phase out all solar and wind tax credits by 2028. Those incentives include the 30% federal Investment Tax Credit for rooftop systems, and the Production Tax Credits (plus transferable ITCs) have effectively laid the foundation for solar's economics. More on Tech: Veteran Tesla analyst makes boldest robotaxi call yetApple could make big change to Siri, delight fansVeteran analyst offers eye-popping Nvidia, Microsoft stock prediction Without them, it undercuts developers' ability to secure financing while shrinking project returns in the process. Following the announcement, solar stocks plunged. In one brutal session, TAN nosedived about 10%, breaking below $32 while Enphase Energy skidded 26%. Similarly, Sunrun stock collapsed 42%, flirting with penny-stock territory, and First Solar tumbled 18%. Hence, Washington's push to kill off solar incentives has put the whole industry on notice. A twist on July 1 has thrown the sector a lifeline, though, at least for now. Solar stocks flipped from panic selling to a surprise rebound in virtually no time. Out of nowhere, Senate dealmakers decided to scrap that excise tax, which slapped hefty fees on panels with certain foreign parts. Late on July 1, the Senate signed off on the amended "Big Beautiful Bill," President Trump's big tax-and-spend plan. Surprisingly, it excluded the dreaded excise tax on solar and wind projects. GOP leaders were said to have scrapped it in cooling tensions on the Hill, flipping the market's mood from panic to relief. The bounce was emphatic. TAN stock led the charge, and individual stocks lit up the tape. Shoals Technologies leapt more than 18%, while Array Technologies added about 11%. Sunrun stock climbed 8.5%, and SolarEdge rose nearly 8%. Similarly, Enphase Energy and Maxeon Solar saw roughly 3% to 3.5% bumps. Surprisingly, even the larger utilities like NextEra Energy, Canadian Solar, and JinkoSolar popped by 2% to 3%. First Solar was the lone laggard, slipping a fraction. Related: Cathie Wood makes surprising chip bet as AI battle heats up Here's the downer: This quick fix didn't return the long-term tax credits that keep most clean-energy projects alive. Solar and wind tax perks will still start phasing out in 2026 and will go away by 2028, which means any new project needs to be up and running by the end of 2027 to cash in. Meanwhile, nuclear got its sweet deal until 2036, and hydrogen hangs on through 2028. Accordingly, industry leaders aren't exactly popping champagne, calling the development a temporary respite. Abigail Ross Hopper, who heads the Solar Energy Industries Association, said this does nothing about the bigger problem. Credits continue to dry up, and there's still not enough funds to help with local solar manufacturing. Now, the tweaked bill heads to a razor-thin House vote, which will shed more light on the future of American clean energy. On July 2, key solar stocks were firmly in the green during regular trading. TAN is up more than 6.2%, First Solar has jumped almost 9%, and Sunrun is up nearly 3%. Related: Tesla stock sinks fast as Musk-Trump clash turns ugly The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
El Balad
01-07-2025
- Business
- El Balad
ترقية 7131 موظفا ومنح علاوة تشجيعية لـ 3072 آخرين بوزارة بالعدل
Shares of renewable energy companies are rising after a tax on solar and wind was removed from the Senate version of the One Big Beautiful Bill Act. The Senate narrowly passed the legislation Tuesday and will now be considered by the House of Representatives. The American Clean Power Association had warned that tax would up to $7 billion to the wind and solar industry's burden. Clean energy stocks rose on Tuesday after a tax on solar and wind projects was removed from the Senate version of the One Big Beautiful Bill Act. Shares of NextEra Energy, the largest renewables developer in the U.S., rose nearly 3% after the Senate narrowly passed President Donald Trump's bill on Tuesday. AES, a leading renewable provider, rose almost 2%. The megabill will now go to the House of Representatives, where lawmakers will consider the Senate's changes. The clean energy industry was surprised and outraged to find over the weekend that a tax on wind and solar projects had been inserted into a version of the Senate legislation. The tax applied to projects that use components from foreign entities of concern above a certain threshold. Foreign entities of concern is widely understood to basically refer to China. The American Clean Power Association and Solar Energy Industries Association told CNBC that the tax was struck from the Senate legislation. ACP had described the tax as punitive and warned that it would add up to $7 billion to the solar and wind industry's tax burden. The benchmark Invesco Solar ETF (TAN) was up about 4%, while the iShares Global Clean Energy ETF (ICLN) was trading more than 1% higher after the legislation passed. Shares of First Solar, the largest solar panel manufacturer in the U.S., slipped less than 1%. Sun tracker manufacturers Array Technologies and Nextracker jumped more than 11% and about 5%, respectively. Residential solar installer Sunrun rose 9% while inverter manufacturers SolarEdge and Enphase were up about 8% and 4%, respectively. But the Solar Energy Industries Association cautioned that the improvements in the Senate bill are "limited" and the legislation overall is still harmful to renewable energy. "This legislation undermines the very foundation of America's manufacturing comeback and global energy leadership," CEO Abigail Ross Hopper said in a statement. "If this bill becomes law, families will face higher electric bills, factories will shut down, Americans will lose their jobs, and our electric grid will grow weaker."
