Interesting Breakfast News: Google Inc, GT Advanced Technologies Inc, SolarCity Corp, Coach


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NASDAQ:GOOG / NASDAQ:GTAT / NASDAQ:SCTY / NYSE:COH
06/24/2014 [ACCESSWIRE]

NEW YORK / ACCESSWIRE / June 24, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Google Inc, GT Advanced Technologies Inc, SolarCity Corp, Coach.

Google Inc(NASDAQ:GOOG)’s shares increased 1.54% to $564.95. Google Inc. (GOOG)’s Nest Labs is rolling out a program to encourage companies to develop devices and services that will work with the Nest digital thermostat and other products. Appliance maker Whirlpool Corp., automaker Daimler AG’s Mercedes-Benz and garage-door maker Chamberlain Group Inc. have signed on as partners, Nest said. By connecting washing machines, cars and garage doors with Nest, users can control the temperature and energy use within their residences, the Palo Alto, California-based company said in a statement on June 24.

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GT Advanced Technologies Inc(NASDAQ:GTAT)’s shares increased 1.80% to $18.63. The company on June 12 announced that it has secured a project win for its proprietary, next-generation HiCz continuous feeding puller technology that is expected to help enable the solar industry's transition to higher efficiency, lower cost solar material. The company has entered into an agreement with Qatar Solar Energy (QSE) to supply its HiCz(TM)200 furnaces for QSE's integrated PV manufacturing project in Doha, Qatar.

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SolarCity Corp (NASDAQ:SCTY)’s shares jumped 1.45% to $70. The company on June 17 has signed a definitive agreement to acquire Silevo, a solar technology and manufacturing company whose modules have achieved a unique combination of high energy output and low cost. The transaction was announced, and its significance described in detail, in a post from SolarCity Chairman Elon Musk, Co-founder and Chief Technology Officer Peter Rive and Co-founder and Chief Executive Officer Lyndon Rive on SolarCity's blog, available at: http://blog.solarcity.com/silevo/.

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Additionally, SolarCity(R) (SCTY) and REC Group, traded under the company name REC Solar ASA (RECSOL.OL), a leading global provider of energy solutions, on June 5 announced a supply agreement under which SolarCity will purchase a minimum of 100 MW and up to 240 MW of REC's high quality, high-performing Peak Energy solar panels during a 12 month period beginning in Q4 2014. SolarCity, the U.S.' largest solar power provider, plans to install the solar panels across its 15-state service territory. The solar panels are compatible with SolarCity's Zep Solar mounting system—REC and Zep Solar entered into a technology licensing agreement earlier this year.

Coach, Inc.(NYSE:COH)’s shares decreased 2.04% to $34.02. In a report published June 20, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Underweight rating on Coach (NYSE: COH), but lowered the price target from $36.00 to $29.00.

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In the report, Morgan Stanley noted, "COH's cash burn is primarily driven by 1) Reduced earnings outlook (MS est $531 net income), 2) $400m guided CapEx + FY15 HQ CapEx $190m, 3) $220m investment in HQ JV, 4) ~$380m dividends, 5) ~$120m transformation outlay ($250-$300m transformation expenses of which 40% is a cash charge occurring over the next 18 months).

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SOURCE: Market Buzz Report  

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