Covanta Holding Corp., a developer of waste-to-energy plants, may be a takeover target as “persistent undervaluation” frustrates shareholders including Chairman Sam Zell, Paul Clegg, a New York-based analyst with Mizuho Securities USA Inc., said today in a note to clients.
First Solar Inc., the world’s largest maker of thin-film solar panels, reduced profit estimates for this year and next and said it will cut about 100 jobs as it shifts its focus to large-scale utility plants.
Warren Buffett’s MidAmerican Energy Holdings utility agreed to buy the $2 billion Topaz project in southern California, branching into solar power after the industry was battered by stock markets around the world.
House Speaker John Boehner attacked the Obama administration for financing failed solar-panel maker Solyndra LLC, saying government shouldn’t pick winners and losers. That hasn’t stopped him from demanding that the U.S. make a winner of a nuclear-fuel plant in Ohio, his home state.