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BenzingaEditorial

COVID-19 Continues to Wreak Havoc but Solar Innovations Cannot Be Stopped

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Solar Stocks and Corona Virus

Since the beginning of the COVID-19 pandemic nearly 600,000 U.S. clean energy workers have lost their jobs, according to Environmental Entrepreneurships and other renewable energy associates. In April alone, 447,208 new workers filed unemployment claims which has tripled the claims that were filed in March. This means 17.8% of the industry’s workforce has filed for unemployment benefits in April and March combined. To give you an even better idea, the number of jobs lost is more than double the number of clean energy jobs created since 2017.

Without stimulus, it will get worse

Before the epicentre of COVID-19 shifted to Europe and the US, clean energy had been one of the U.S. economy’s biggest and fastest-growing employment sectors. From 2015 to 2019–end, it grew 10.4% resulting in 3.4 million jobs. This boost made clean energy the biggest employer in all energy occupations by far. Moreover, it employed a nearly three times greater workforce compared to the fossil fuel industry. Its fate greatly depends on the Trump administration taking substantive action to support the industry with aid packages to help it survive the downturn. If no action is taken, the above report estimates a figure of 850,000 unemployed clean energy workers by the end of June.

COVID-19 has paused the economy, but it is powerless when it comes to sunlight

One of the rare few in the UK economy not to have a dreadful April was solar energy with the sunniest April in its records. The industry reported its highest ever production of electricity on April 20th. And let’s not forget that the race on increasing efficiency of solar cells is taking place worldwide, from US to China and in-between. And just like Texas, the state of oil, is starting to fall in love with solar technology, so are Nigerian developers as they are looking for ways to build the industry in order to help the most vulnerable population.

New applications

Worksport (OTC:FNHI) is launching the world’s first solar-powered truck tonneau covers, it also announced this morning record 2019 revenues. Mobility innovator Lightyear and resin supplier DSM are developing Lightyear’s solar-powered roofs for EVs, both of which will surely further boost the adoption of EVs, a market with enormous growth potential. To give you a better idea, Bloomberg valued at $160-plus billion in 2019 while projecting to reach $800-plus billion by 2027. The message is clear, the world wants a cleaner future and solar technology can greatly speed this up by sun-powering this trend. JinkoSolar (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, is also not showing any signs of stopping as it just announced the official launch of its 2020 flagship high-efficiency Tiger Pro module series that paves the way for investors to generate higher power output. And we will see on May 28th how Canadian Solar Inc. (NASDAQ: CSIQ) did in its first fiscal quarter after its Infrastructure Fund Inc was included as a major component of Tokyo Stock Exchange’s new Infrastructure Funds Index, TSE’s new Environmental, Social and Governance (“ESG”) related finance product.

The potential is too big to pass on

COVID-19 will change the way we do business. Solar developers can be at the forefront of this shift, ensuring a greener and cleaner future. Innovation in this segment is already accelerating as today’s average commercial solar panel converts 17-19% of the light energy hitting it to electricity, which is up from 12% which was the case 10 years ago. Now imagine what will happen when that figure reaches 30%. If anything, it means we could get much more than today’s 2.4% of global electricity supply from the Sun. Now that is called making a difference!

So, even with the ‘doomsday scenario’, rest assured that world’s fastest growing energy technology is here for the long-haul.

This article is not a press release and is contributed by Ivana Popovic who is a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . Ivana Popovic does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com Questions about this release can be send to ivana@iamnewswire.com

BenzingaEditorial

Three Stocks That Won Last Week’s Popularity Contest

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Overwin Corona Virus

Last week was a good week for a lot of companies which reported their earnings. But a few of them truly stood out as blockbusters. Wayfair (NYSE:W), LivePerson (NASDAQ:LPSN), and Fiverr International (NYSE:FVRR) are some of them as they stepped up the game with their quarterly results. Let’s take a closer look at why these three publicly traded companies won last week’s popularity contest.

Online furniture retailer

Wayfair had a jaw-dropping performance since the mid-March lows. Net revenue of the online furniture retailer soared 84% to $4.3 billion. It greatly exceeded the $4.06 billion that analysts were targeting. If there is such a thing as a ‘perfect storm’, the pandemic was exactly that for Wayfair which historically has been struggling to achieve profitability. This time round, this was not the case as its active customer base grew 46% over the past year. By being forced to stay at home, consumers felt more inspired to make their homes more beautiful.

Wayfair’s adjusted profit came to $3.13 a share, which more than tripled Wall Street’s estimate. Moreover, the momentum is still being maintained throughout this quarter as sales are 70% higher so far. The company is growing a lot faster than the 20% year-over-year gain it reported during the first quarter of this year.

Tech stock

LivePerson provides an online chat customer support when the site visitor is getting frustrated or, even worse, is about to abandon a shopping cart. Its concept clearly works as the company exhibited its strongest top-line growth in 12 years. This 29% increase is its healthiest growth since the summer of 2008.

The online solutions provided 134 deals during the quarter. Seven of those contracts are expected to bring in at least $1 million in revenue over the following year.

LivePerson’s report might not have been mind-blowing, but it was a classic example of an excellent performance. Its new 2020 outlook includes revenue growing at a range between 22 to 24 percent, whereas just three months ago, the company expected it to be in the range between 17 and 22 percent.

The gig economy to counteract these challenging times

Fiverr has been one the winners during the pandemic as it runs a marketplace with offers of one-off jobs with attractive prices. It helped many survive the new reality shaped with pay cuts and job losses.

Its latest quarter saw its revenue rise 82% as its base of active buyers of freelance services increased 28%. Moreover, average spend per buyer increased 18%.

The increased supply is easy to answer, but so is the increased demand. By not losing time in daily commutes and other outside activities, people reprioritised and suddenly found the time for passion projects or simply new opportunities.

The Fundamental Lesson From the COVID-19 Pandemic

These three companies earned their gains fair and square, and in more ways than one. They got the job done during a time of crisis. Wayfair helped people feel better inside their homes as it beautified their self-quarantines. LivePerson helped both companies retain buyers as well as consumers to make their purchases. And last but not least, Fiverr’s platform enabled many to earn extra cash on the side and feel more financially stable. These examples portray perhaps the biggest lesson of the pandemic: people learned what is important to them and what they want to devote their time and effort to. The companies who met those needs were more likely to survive the storm. Some will emerge even stronger out of it.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Can Oil Giants Play the Long Game?

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oil industry stocks

Over the last few years, the performance of the energy sector has been among the worst-ones. It fell 45% over the last half of a decade whereas the S&P rose 59% over the same period. If we specifically look at oil, there is the supply and demand side to consider. Forecasts say there’s probably enough of oil to last during the next 100 years, considering current consumption trends. But demand is far less certain.

Supply and demand

We are running out of “easy” oil but forecasts on how much is left do vary wildly. The biggest problem is that the vast majority of R&D spending is focused on unconventional oil, and not on replacing oil. The industry has been focused on making shale more economical for almost a decade now. Moreover, the Trump administration has made it clear that it will not allow the sector to vanish. The economic equation behind it is rather simple. The less oil is left, the more money there will be in sucking out every drop. Scarcity is a great profit booster. Greater profits encourage companies to expand, not contract. Therefore, the fundamental concept of economics ‘advise’ sticking to these depletable sources until they are exhausted.

Even the Oil Giants Are Struggling

It would be challenging to find an integrated oil and gas company with a better balance sheet than Chevron (NYSE: CVX). But even with a strong financial position, Chevron still depends on the price of oil. Along with its U.S. competitor ExxonMobil (NYSE: XOM), they are the only two energy companies that hold the title of Dividend Aristocrats. This status is given to any company in the S&P 500 that has increased its base dividend for at least one quarter of a century but in an uninterrupted manner. As for Chevron, it has an impressive track record of 32 consecutive years. Moreover, it has increased its dividend by 79% over the last decade alone. But the pandemic devastated its profits.

Royal Dutch Shell plc (NYSE:RDS-B) has also swung to a historic and quite heavy loss with its latest quarter. The Anglo-Dutch oil titan warned that an uncertain demand outlook could curtail its third-quarter production. Most importantly, oil giants are aware that business may never return to normal.

The greener perspective

High prices are destroying the demand for oil as the world is turning to renewable sources and other energy storage mediums. Moreover, climate change concerns are creating significant regulatory pressure. The developed world is also taking action to promote electrification. The UK and France plan to ban new gasoline and diesel vehicle sales in certain regions by 2040. Moreover, electric vehicles are central to Europe’s post-pandemic recovery plan.

Electrification

EVs could truly eliminate the majority of oil consumption. But they need to be accompanied by significant improvement in battery technology and an expansion of the charging infrastructure. Moreover, they have to become more accessible price-wise. EV pioneer Tesla Inc (NASDAQ:TSLA) as well as startups such as electric and hydrogen-powered Nikola Corporation (NASDAQ:NKLA) disrupted the whole world as they are the ones who made this reality possible.

Oil Companies Can Still Find a Way to Exist in the New Era

As battery-electric vehicles go mainstream, it’s not hard to imagine oil companies utilizing their massive infrastructure to get into the battery-charging business. Many companies are already exploring these options.  Last week, the British oil and gas giant BP (NYSE:BP) committed to cut its oil production over the coming decade with very ambitious energy targets. BP plans to invest tens of billions of dollars over that decade to become one of the world’s largest renewable power generators. It might even settle for profits lower than it gets from oil in order to achieve that goal. But, it’s not like we’ll stop needing oil overnight. If anything, air travel is still fully dependent on fossil fuels.

Takeaway- nothing happens overnight

The bottom line is that some oil companies, even the giant themselves, may not survive the transition. But no one who works in the industry today will be around to see this entirely new oil-free future. It is like the story of the telephone industry: a telephone serves the same purpose it served one hundred years ago, but smart phones are giving us a ton of stuff on the side that no one could have possibly predicted back then.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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BenzingaEditorial

Four EV Disruptors to Keep an Eye on

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Electric Vehicle Companies in the Automotive Industry - Success Despite Corona virus

Wall Street has been giving EV stocks quite a lot of attention lately and for a very good reason. The share prices of many electric vehicle manufacturers have hit all-time or at least 52-week highs. This is even more impressive considering that the pandemic created quite the turmoil for the global economy. Afterall, climate change will not wait for us to win the battle against COVID-19. We’ve gathered a list of four disruptive players who are all set to win the EV race.

The EV emperor

Tesla (NASDAQ:TSLA) is the first name that investors, as well as the whole world, relate to EVs. The EV pioneer is targeting half a million deliveries in 2020, which would mark a 35% YoY growth.  In late July,  Tesla reported its fourth consecutive quarterly profit. By doing so, it became eligible to be considered for inclusion in the S&P 500 Index. However, for Tesla to actually be considered, an existing member needs to be taken off the index due to no longer meeting the eligibility criteria. On the other hand, Tesla is already having its best year ever. Year to date, its stock is up an eye-popping 260%. And with its newly announced Austin factory, which will be its biggest yet, Tesla is not showing any signs of slowing down.

If you believe in the future of EVs, Fun-Utility Vehicle (FUV) could be a less expensive way to enter the game

Oregon-based Arcimoto (NASDAQ:FUV) went a long way since going public almost three years ago. Since then, it has built its production facility, completed regulatory compliance for its flagship EV- Fun Utility Vehicle (FUV), started production one year ago and is already now delivering vehicles to early customers. FUV is a tandem two-seat, three-wheeled electric vehicle. And there are two EVs which are due to start production by the end of the year. The customizable Deliverator can transport a variety of food products, whereas the specialized Rapid Responder is specifically designed to support emergency and law-enforcement services.

Low-speed EVs that serve a specific purpose

Texas-based EV manufacturer of purpose-built and automotive-grade EVs, Ayro (NASDAQ:AYRO), began trading on May 29. This newcomer creates sustainable electric solutions through light-duty vehicles for open or closed infrastructures such as golf courses and airports. LSEVs do serve a niche, but this is a growing, market with great potential in the upcoming decade.

The integration of solar technology

It’s no secret that EV require a supply of energy. This energy can derived from various type of batteries and sources. Thus the sector is also becoming quite diverse based on vehicle type, battery type, etc. Worksport (OTC:WKSP) offers a full line of innovative, high quality yet affordable tonneau covers for pickup trucks, US’ favorite vehicle. Its SC3 and TC3 are high quality basic covers that undermine competing products with a lower price. SC3 Pro and SC4 come with major product enhancements that will not only improve the user experience but even the installation process. But Worksport’s crown jewel is TerraVis which will redefine pickup beds as they integrate complex solar technology. Earlier today Worksport announced a launch date for TerraVis. By offering a disruptive product at an affordable price, Worksport has the potential to disrupt much more than the market for tonneau covers as this technology can also increase the driving range of any EV.

EVs are all set to transform the world

In 2019, EVs accounted for 2.6% of global car sales. 2019 also marked their 40% year-over-year increase. By 2027, analysts expect the market’s value to reach $802 billion. Last year, the market’s value was approximately $162 billion. Therefore, this growth implies an impressive CAGR of 22.6% . Electric vehicles have all it takes to transform nearly every aspect of transportation, including fuel, carbon emissions, costs, repairs, driving habits and consequently- our everyday footprint.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you’re interested in becoming an IAM journalist contact: contributors@iamnewswire.com

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