On Friday, Shares of SolarCity Corp (NASDAQ:SCTY), lost -12.75% to $40.99.
SolarCity and Habitat for Humanity of San Fernando/Santa Clarita Valleys, together with the California Department of Veterans Affairs (CalVet), have come together for the first time to build 78 new affordable solar-powered homes in Santa Clarita, California for returning veterans. The new home project is made possible by the CalVet Residential Enriched Neighborhood (REN) program, which utilizes the Enriched Neighborhood model to provide housing, specialized services and training that aims to assist veterans returning from combat achieve upward mobility and more smoothly reintegrate into civilian life. The SolarCity crews, counting 7 veterans on staff, joined forces to complete the project in a single day for future veteran homeowners. The solar power systems on the first new phase of homes – 26 totals – were installed in a matter of hours yesterday.
All CalVet REN homes are at minimum Energy Star Certified, but this new community is the first to feature solar power from SolarCity, America’s #1 solar power provider. SolarCity makes it possible for the veterans to install solar with no upfront cost and save money on energy costs by paying less for solar electricity than they pay for utility power. Veterans are also able to lock in solar power rates for the next twenty years, protecting them from future utility rate enhances and increasing their independence from polluting fossil fuels.
“This community is not just housing for veterans, but a true way to honor our returning servicemen and women,” said Donna Deutchman, CEO of Habitat for Humanity of San Fernando/Santa Clarita Valleys. “The partnership with SolarCity will offer veterans an environmentally friendly community with low cost solar energy that also provides long term savings. Beyond the gift of homeownership, the community is intended to be a healthy and sustainable place for families to grow.”
SolarCity Corporation designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.
Shares of EnteroMedics Inc (NASDAQ:ETRM), declined -6.38% to $0.230, during its last trading session.
EnteroMedics Inc., declared financial results for the three and six months ended June 30, 2015.
For the three months ended June 30, 2015, the Company stated its first U.S. sales of $79,000 with gross profits totaling $48,000. The Company stated a net loss of $7.4 million, or $0.10 per share, counting selling, general, and administrative expenses of $4.9 million and research and development expenses of $2.5 million. For the six months ended June 30, 2015, the Company stated a net loss of $14.6 million, or $0.20 per share. Operating expenses were primarily associated with commercialization of the Company’s vBloc® Neurometabolic Therapy, counting marketing and reimbursement activities, the cost of supporting multiple ongoing clinical trials, and the continued development of vBloc Therapy delivered through the Company’s Maestro® Rechargeable System. On June 30, 2015, the Company’s cash, cash equivalents, and short-term investments totaled $4.8 million. On July 8, 2015, the Company closed a public offering that generated net proceeds of about $14.7 million.
“We are happy that we have recorded our first U.S. Commercial sales so soon after FDA approval. Our emphasis over the next few quarters will be on managing our current resources to enhance our commercial momentum by keeping us on our critical path with respect to sales, marketing, and reimbursement,” said Greg S. Lea, Chief Financial Officer, and Chief Operating Officer. “We are in the process of implementing a number of initiatives that will allow us to manage our expenses over the next year, giving us the necessary resources to execute on our commercial strategy well into 2016.”
EnteroMedics Inc., a medical device company, focuses on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases, and other gastrointestinal disorders.
Finally, Corenergy Infrastructure Trust Inc (NYSE:CORR), ended its last trade with - 2.11% loss, and closed at $5.11.
CorEnergy Infrastructure Trust declared that it has named Jeff Teeven as Vice President of Finance. In addition, Lesley Robertshaw has joined CorEnergy as Manager of Investor Relations and Natalie Hill has joined as Assistant Corporate Secretary and Paralegal, adding strength to the Company’s Corporate Finance and Governance team.
Mr. Teeven has more than 20 years of experience in private equity administration and mergers and acquisitions. He joined CorEnergy in October 2014 and was named Vice President of Finance. In this role, Mr. Teeven will lead the Corporate Finance team and manage the firm’s communications with key external relationships counting institutional investors, lenders, and co-investors. Formerly, Mr. Teeven served as a founding partner of Consumer Growth Partners (CGP), a private equity firm focused on the specialty retail and branded consumer products sectors. Preceding to that, he spent 10 years with Kansas City Equity Partners (KCEP), a $125 million private equity fund focused on investments in the energy, services and specialty retail sectors. Formerly, Mr. Teeven spent five years in the mergers and acquisitions industry as a senior consultant with KPMG’s Boston Corporate Transaction Services group. He received a bachelor’s degree in Finance from the Boston College Carroll School of Administration and an MBA from the University Of Chicago Graduate School Of Business, with a concentration in Corporate Strategy and Marketing Administration. In addition to his role as Vice President of Finance for CorEnergy, Mr. Teeven also serves as Director of Finance for CorEnergy’s manager, Corridor InfraTrust Administration, LLC.
Ms. Robertshaw joined CorEnergy in July after three years as a member of the Specialty Finance team in the Equity Research division of Credit Suisse in New York. In her previous role, she was an associate analyst focusing on credit card issuers counting American Express, Discover Financial, and Capital One Financial, in addition to on major auto lenders and specialty consumer lenders. She accomplished her bachelor’s in Business Administration at Georgetown University, focusing on finance and marketing. In her role as Manager of Investor Relations, Ms. Robertshaw will manage analyst and investor relationships, in addition to corporate communications for CorEnergy.
CorEnergy Infrastructure Trust, Inc. is an energy infrastructure real estate investment trust. The Company is focused on acquiring and financing midstream and downstream real estate assets in the United States energy infrastructure sector.
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