U.S. stock markets closed lower for a third session on Wednesday, as losses in technology shares weighed. The Dow index lost 75.70 points, or 0.4 percent, to 17,492.30. The S&P 500 gave up 15.97 points, or 0.8 percent, to 2,047.62. The Nasdaq composite dropped 75.38 points, or 1.5 percent, to 5,022.87, according to AP
Big tech names fell the most. Yahoo slumped 1 percent after saying it would scrap a spinoff of its big stake in Alibaba. Apple and Microsoft also fell about 2 percent each.
Technology is the collection of techniques, skills, methods and processes used in the production of goods or services or in the accomplishment of objectives, such as scientific investigation. Technology can be the knowledge of techniques, processes, etc. or it can be embedded in machines, computers, devices and factories, which can be operated by individuals without detailed knowledge of the workings of such things.
On Wednesday, Shares of Sunedison Inc (NYSE:SUNE), gain 14.49% to $3.95.
SunEdison, Inc. (SUNE), declared that it has signed a 10-year agreement with Ontario’s Independent Electricity System Operator to supply 5 megawatts—20 megawatt-hours—of battery storage to the province. The Ontario IESO works at the heart of Ontario’s power system, and is responsible for making sure everyone in the province gets the electricity they need, when they need it. In addition to leveraging the battery’s storage capability, the IESO intends to use data from this energy storage project to analyze how storage can be used to smooth the power flow from wind and solar, defer expensive system upgrades, and ultimately shape the future of its grid. This project is SunEdison’s first commercial large scale grid-connected energy storage project, and is one of the first commercial applications of flow batteries in Canada.
“By integrating energy storage into their grid, the Ontario IESO gains access to a powerful new tool that has the potential to transform how it operates the power system,” said Tim Derrick, SunEdison’s general manager of Advanced Solutions. “Batteries can be used to reduce grid congestion, smooth out power flow from solar and wind sources, and may assist the IESO defer or avoid expensive upgrades to the grid.”
“SunEdison’s energy storage project is one of several projects that will support reliability in Ontario by providing much needed quick response capacity and operational flexibility,” said Bruce Campbell, Ontario IESO’s president and chief executive officer. “We congratulate SunEdison on the success of their proposal and look forward to working with them to implement this project.”
SunEdison is working with flow battery technology leader Imergy to deliver the project. Imergy’s vanadium redox flow battery technology provides a cost effective and durable way to store energy for hours at a time.
“The Ontario IESO is the real winner in this latest partnershipbetween SunEdison and Imergy,” said Bill Watkins, Imergy’s chief executive officer. “By combining SunEdison’s renewable energy project development expertise with Imergy’s vanadium flow battery technology, Ontario will get a durable and efficient energy storage system.
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. The Solar Energy segment provides solar energy services that integrate the design, installation, financing, monitoring, operations, and maintenance portions of the downstream solar market. It also manufactures polysilicon, silicon wafers, and solar modules.
Shares of Yahoo! Inc. (NASDAQ:YHOO), declined -1.29% to $34.40, during its last trading session.
Yahoo Inc. on Wednesday signaled that its Internet business is up for sale, dealing a blow to Chief Executive Marissa Mayer and setting the stage for what may be the final act of a Web pioneer that failed to reinvent itself in the smartphone age, according to WSJ
The company said it would shelve its yearlong plan to spin off its stake in Alibaba Group Holding Ltd. into a holding company because investors feared tax regulators could challenge the spinoff and hit the company with a multibillion-dollar bill.
Instead, Yahoo said it would consider alternatives, including the sale of the core business or a so-called reverse spinoff that would turn the Web assets and a stake in Yahoo Japan into a separate, publicly traded company.
Yahoo’s about-face is a rejection of a strategy laid out by Ms. Mayer, who is now in her fourth year of an effort that has failed to yield meaningful revenue growth. Ms. Mayer had counted on the Alibaba spinoff as a centerpiece to her strategy to unlock value for shareholders and buy time for a revival of a digital-ad business eclipsed by Google Inc. and Facebook Inc. WSJ Report
Yahoo! Inc. provides search and display advertising services on Yahoo properties and associate sites worldwide. The company offers Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktops. It also provides Yahoo Mail that connects users to the people and things; Yahoo Messenger, an instant messaging service; and Yahoo Groups, which allows users to join groups based on shared interests and involvements.
