Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Solar power equipment makers are about to hit a rough patch, and it's time to sell many stocks in the space, according to Goldman Sachs.
Demand for solar power equipment is drying up in key markets just as supplies are booming, the investment bank warns. The industry has long been governed by boom-and-bust cycles, and Goldman thinks a looming glut of solar modules is pushing the sector into a downturn.
"Against this backdrop, we see both volume and pricing risk intensifying in the near-to-medium term, and now forecast 0% average upside across the group," Goldman said in a research note.
The catalyst for its downbeat view is last week's major policy shift in China. Beijing has suspended subsidies for large-scale solar farms for the remainder of 2018 and will require these plants to set power prices in competitive auctions.
Goldman now expects a 40-percent drop in sales volumes in China, which accounts for half of the global market for solar modules and other equipment. Heaping more pressure on the industry are anticipated declines in other key markets like Japan, India and the United States, where the Trump administration has dented demand by slapping tariffs on imported solar panels and modules.
Renewable energy companies have scrapped or suspended plans worth more than $2.5 billion to install solar panels since Trump imposed the tariffs, Reuters reported on Thursday.
Overall, Goldman anticipates a 24 percent drop in solar installations around the world this year. Meanwhile, it expects supplies across the entire supply chain to rise by 12-32 percent, with big increases of 24-32 percent in the segment that manufactures individual solar cells.
"To put this into perspective, at current 4-4.5 g/W conversion rates, this would imply 25-35GW of new supply potential vs. what we now forecast to be a roughly 25GW decline in yoy demand," Goldman said.
Solar modules and cells will probably fetch about 15 to 30 percent less than they did for manufacturers last year, according to Goldman.
Those forecasts led Goldman to take a more bearish view of solar manufacturers exposed to the Chinese market and firms throughout the supply chain.
The bank slashed its 12-month price target for JinkoSolar, which earned 37 percent of 2017 revenue in China, from $15 a share to $10. The stock fell 3.4 percent on Thursday, bringing its one-week loss to 34.2 percent.
Shares of First Solar plunged 5.5 percent after Goldman slapped a "sell" rating on the stock and slashed its target from $75 a share to $48.
Canadian Solar maintained its neutral rating with the bank, but had its target knocked down from $18 to $13. Shares were down nearly 2.7 percent in afternoon trading.
However, the cyclical factors that will buffet those stocks could boost companies that sell solar energy to residential users by reducing equipment prices. The bank recommends exposure to Sunrun and Vivint Solar.