On Friday, Shares of SunEdison, Inc. (NYSE:SUNE), lost -0.87% to $26.07.
SunEdison declared that it has signed a long-term power purchase agreement with Tata Power Delhi Distribution Limited (TPDDL) to provide 180 megawatts (MW) AC of utility-scale solar power for the people of New Delhi. TPDDL is the largest electricity distribution utility in Delhi, and provides power to over 6 million people in India’s capital city. This is the largest agreement that SunEdison has signed under the open access solar framework, which allows renewable energy providers to sell energy directly through the national grid to end customers.
“This 180 MW of solar power demonstrates that good things happen when you bring two of India’s largest energy brands together,” said Pashupathy Gopalan, SunEdison president of Asia-Pacific and Sub-Saharan Africa. “The people of New Delhi will benefit from clean, reliable and affordable energy as a result of this project. This project makes a direct and powerful contribution towards India’s aim of generating 100 gigawatts of solar power by 2022.”
“Renewable energy is a big focus for TPDDL, and signing this power purchase agreement with SunEdison highlights our commitment,” said Praveer Sinha, Tata Power Delhi Distribution’s CEO and managing director. “SunEdison is a globally renowned company and we are sure that our partnership will pave the way for a new wave of projects to support India’s renewable energy mission.”
SunEdison, Inc. develops, manufactures, and sells silicon wafers to the semiconductor industry. The company operates through three segments: Solar Energy, TerraForm Power, and Semiconductor Materials.
Shares of Graphic Packaging Holding Company (NYSE:GPK), declined -1.42% to $14.58, during its last trading session.
Graphic Packaging Holding Company stated Net Income for second quarter 2015 of $57.6 million, or $0.17 per share, based upon 330.9 million weighted average diluted shares. This compares to the second quarter 2014 Net Loss of $(40.0) million, or $(0.12) per share, based on 328.7 million weighted average diluted shares.
Counting the tax impact, second quarter 2015 Net Income was negatively influenced by $3.7 million of Charges Associated with Business Combinations and Other Special Charges. When adjusting for these charges, Adjusted Net Income for the second quarter of 2015 was $61.3 million, or $0.19 per diluted share. This compares to second quarter 2014 Adjusted Net Income of $66.0 million or $0.20 per diluted share.
Graphic Packaging Holding Company, together with its auxiliaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. The company produces a range of paperboard grades convertible into folding cartons primarily to protect products, such as food, detergents, paper products, beverages, and health and beauty aids.
Finally, New Oriental Education & Technology Group Inc. (NYSE:EDU), ended its last trade with -1.47% loss, and closed at $22.86.
New Oriental Education & Technology Group declared its unaudited financial results for the fourth fiscal quarter and fiscal year ended May 31, 2015.
Financial Highlights for the Fourth Fiscal Quarter Ended May 31, 2015
- Total net revenues raised by 14.4% year-over-year to US$328.8 million for the fourth fiscal quarter of 2015. Total net revenues would have raised 16.2% if counting US$5.3 million of temporarily deferred revenue resulting from the Company’s customer loyalty programs.
- Income from operations reduced by 26.9% year-over-year to US$22.5 million for the fourth fiscal quarter of 2015. Income from operations would have been about US$27.8 million if not for the accounting effects of the Company’s customer loyalty programs.
- Net income attributable to New Oriental reduced by 17.9% year-over-year to US$35.2 million for the fourth fiscal quarter of 2015.
New Oriental Education & Technology Group Inc. provides private educational services primarily in the People’s Republic of China. It offers test preparation courses to students taking language and entrance exams used by educational institutions in the United States, the People’s Republic of China, and Commonwealth countries; and after-school tutoring courses for middle school and high school students to assist students enhance scores on entrance exams for admission into high schools or higher education institutions.
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