August 7, 2026
We spoke with divisional leadership at a private OEM targeting $1bn in revenues from RPPs, power whips, and other white-space solutions for data centers. Takeaways below. We spoke with a general manager at a data…
August 6, 2026
Our checks call out Vertiv as uniquely positioned to benefit from continuing acceleration as colocation providers and neo-clouds grow in importance to hyperscalers and frontier labs. We view Vertiv’s product strategy of pursuing a unified…
August 5, 2026
LME Metal Prices Mostly Higher vs. Previous Close: Today, Copper +1.53% to $6.43/lb; aluminum -0.08% to $1.59/lb; nickel -2.13% to $8.80/lb; zinc +1.16% to $1.69/lb; lead +2.12% to $1.05/lb; gold +1.85% to $4,153/oz; silver +3.00%…
August 5, 2026
Polysilicon Futures Spot Contract Price (CNY$35,480/ton = $5.05/kg) – up 8.6% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source: Guangzhou Futures exchange. Solar Pricing Metrics – 8/5/2026 Note: EnergyTrend discontinued slurry saw price…
August 4, 2026
Bottom Line Following NXT’s F1Q27 print (7/30) and the July drawdown, we hosted a Fireside Chat with CFO Chuck Boynton and IR. The call resolved the quarter’s three optical controversies — the FQ1-to-FQ2 tariff bridge,…
August 3, 2026
We view a topline miss as non-core (PetChems) as Powell dazzles us with major order flow – 3.0x book-to-bill vs. our 2.2x as a take-or-pay backlog accelerates +71% Y/Y. Expect management to further lay out…
August 3, 2026
Nextpower printed record revenue ($935mn, +8% y/y), a 37% adjusted gross margin, $233mn of adjusted EBITDA, $1.20 of adjusted EPS, a record >$5.5bn backlog, and raised the bottom of every FY27 guidance range — and…
July 31, 2026
On our adjusted numbers — which adjd the $89mn of one-time IEEPA tariff refunds back out of gross profit — FSLR beat consensus on every profit line ($3.10 adj. EPS vs. $2.83; $509mn adj. EBITDA…
July 31, 2026
NVT’s 2Q update surprised us with a +24% 2Q sales beat ($1.5bn vs. our $1.2bn) with a +11% FY sales organic topline raise. Adjusted EBIT margins showed leverage on elevated volumes 21.9% vs. our 18.9%….
July 30, 2026
We spoke with a leading data center OEM as they ramp e-House capacity on lead times being quoted by suppliers. Transformer, UPS lead times up +89%, +67% Y/Y Engineered components continue to see demand well…
July 30, 2026
The Fed held yesterday while three members dissented for a hike — and the Chair spent his press conference explaining why he didn’t need one: the bond market’s intermeeting selloff, among the largest in two…
July 29, 2026
Ex the one-time tariff windfall, GAAP earnings flipped to a loss; the “beat” was a check from U.S. Customs. We’d fade it. Reiterate SELL. Bottom Line Enphase reported 2Q26 revenue of $291.9mn (vs. $292.1mn street),…
July 29, 2026
Polysilicon Futures Spot Contract Price (CNY$32,680/ton = $4.64/kg) – down 4.6% w/w Note: Adjusted for CNY exchange rate and 13% VAT.Source: Guangzhou Futures exchange. Solar Pricing Metrics – 7/29/2026 Note: EnergyTrend discontinued slurry saw price…
July 28, 2026
We look past an ungrateful tape to an incredible path of revision for 2027 and 2028 as we digest multiple incremental positives out of FIX’s 2Q update. PT to $2,265 as +10pt topline raise, modular…
July 28, 2026
Bottom Line Heading into Enphase’s 2Q26 print, we find ourselves in the increasingly lonely position of being below consensus on essentially every line that matters. We are at $279mn in revenue (Street: $292mn) — a…