Renewable energy stocks plunge as going green gets 'expensive'

“As utilities struggle with converting to more green energy, their operating margins are getting squeezed until they can get their utility rates increased,” Louis Navellier, founder of Navellier, a money management firm, told Yahoo Finance.To make matters worse, falling valuations are making it harder for companies to tap into public markets to fund their projects. Also, bonds offering higher yields are competing against dividend yields on utility stocks.NextEra Energy Partners is down 69.

"Our microinverter sell-through in the US peaked in the fourth quarter of 2022," Badri Kothandaraman, CEO of Enphase, said during the company's earnings call. "The sell-through in the first half of 2023, in both Q1 and Q2, was approximately 20% below the fourth quarter due to the high interest rate environment in the US."

“Absent intervention, these near-term projects are increasingly at risk of failing,” the governors wrote. “Without federal action, offshore wind deployment in the US is at serious risk of stalling because states’ ratepayers may be unable to absorb these significant new costs alone.”

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U.S. stocks extend gains after new auto strikes averted - BNN BloombergU.S. stock benchmarks ground higher after automakers were spared from new walkouts.
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Most actively traded companies on the Toronto Stock ExchangeTORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (19,246.07, up 108.26 points): Toronto-Dominion Bank. (TSX:TD). Finance. Up 41 cents, or 0.52 per cent, to $79.80 on 8.8 million shares.
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Stock market today: Wall Street leaps after eventually finding things to like in nuanced jobs reportNEW YORK (AP) — Wall Street rallied in a whipsaw Friday after looking deeper into the nuances of a surprisingly strong report on the U.S. job market. The S&P 500 rose 1.2% after erasing an earlier drop of 0.9%.
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