Market Recap: SolarCity (SCTY), Sony Corp (SNE), DryShips (DRYS)

Albany, New York (09/23/2014) – SolarCity Corp (NASDAQ:SCTY) revealed its plans to make solar power more affordable and reliable than it is currently. The $6 billion solar panel installer and the all-electric car manufacturer, Tesla Motors Inc (NASDAQ:TSLA), announced that solar panels that SolarCity installs within the next 5-10 years would come bundled with battery backs to address intermittency of solar power. The companies said at an event in New York that intermittency was one of the major limits in the adoption of solar power. Tesla is building a $5 billion battery factory, known as Gigafactory, in Nevada. The facility is expected to reduce the cost of batteries to less than $100 per kilowatt hour, according to Tesla CEO, Elon Musk. That would be a significant saving considering that the current estimated cost of battery per kilowatt-hour of storage is about $300.

Sony Corp (ADR) (NYSE:SNE) said its PlayStation TV (PS TV) set-top box would hit the U.S. and Europe markets next month. It will also launch in Canada in the same month. The new product connects wirelessly with PlayStation 4, the company’s latest games console. PS TV allows users to play in different rooms. For $140, one can purchase PS TV that comes with a wireless controller and 8 GB memory card. However, one can also purchase the unit for $100 without such. Users of PS TV will have access to about 700 games. Sony (SNE) first released PS TV in Japan and other Asian countries in the last fall. The device was released in the Asian markets as PlayStation Vita TV. The introduction of PS TV comes as another aggressive push by Sony Corp (ADR) (NYSE:SNE) into the entertainment market as it seeks to ward off competition from the likes of Amazon (AMZN) and others.

Analysts are almost unanimous in their observation that DryShips Inc. (NASDAQ:DRYS) is in a good position that makes it a promising investment. Analysts at Zacks recently moved to upgrade their rating on the company. They gave placed it on the “neutral” list from an “underperform”. However, DryShips (DRYS) currently carries consensus “buy” rating. DryShips Inc. (NASDAQ:DRYS)’s performance in the most recent quarter has been a point of reference for those citing positive prospects for the stock. The company reported 48% increase in revenue to $497.3 million, ahead of the estimated revenue of $491.55 million.

About the Author

Laurie, a long-time member of the US Markets Daily general assignment reporter who has covered a variety of subjects from breaking news to investigative features, from stock markets to politics, and from neighborhood small business to global warming.

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