First Solar, SunPower Rally In After Hours

Shares of First Solar Inc. and SunPower Corp. shot up in after-hours trading Monday after the solar companies said they are "in advanced negotiations" to form a joint "yieldco," as subsidiaries that bundle power plants and other assets are known in the industry. The companies intend to file for the yieldco's IPO with the Securities and Exchange Commission, but did not give a timeline. Yieldcos get their revenues from long-term, stable power purchase agreements with utilities.