Shares Of SunEdison And Company's Yieldcos Plunge After Results

By Claudia AssisMarketWatch Pulse

Shares of SunEdison Inc. and the yieldcos connected to the solar-power developer, TerraForm Power Inc. and TerraForm Global Inc. , tanked Tuesday following disappointing quarterly results for TerraPower and mixed results for SunEdison. SunEdison reported third-quarter revenue that beat expectations -- $476 million compared with consensus $452 million -- but a wider-than-expected loss of 92 cents a share. TerraForm reported a loss of 3 cents a share in the third quarter, while analysts polled by FactSet had expected a gain of 28 cents a share. TerraForm Global said it lost 11 cents in the quarter, a loss that was narrower than analysts had expected.

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