NVIDIA Corporation (NASDAQ:NVDA) [Detail Analytic Report] slightly up in early trading session on Monday as the speculated Nvidia Shield Tegra X1 tablet, which was earlier had a leaked release date for March 2015, has now supposedly gone through the GFXBench benchmark test, unveiling partial specifications. According to the GFXBench listing, Nvidia Shield Tegra X1 tablet features an 8-inch full-HD resolution display and is powered by firm's octa-core Nvidia Tegra X1 processor only 4 Cortex-A57 cores listed, clocked at 1.9GHz, and clubbed with 3GB RAM and Nvidia Tegra X 1 GPU.
NVIDIA revealed its Nvidia Tegra X1 processor in January 2015 during CES 2015. It contained an 8-core 64-bit CPU and a 256-core Maxwell-based GPU and was claimed to be the first mobile chip to deliver a teraflop of processing power. Last week, Nvidia re-released its Nvidia Shield tablet as the Shield Tablet K1 priced at $199. Nvidia Shield tablet was launched in 2014 but was recently recalled in the US after the firm found the battery in the device can overheat, posing a potential fire hazard.
Trina Solar Limited (NYSE:TSL) [Detail Analytic Report] announced its first loss since 2013 after settling a legal dispute with Solyndra LLC, another solar manufacturer that went out of business 4 years earlier. The firm put aside funds in the Q3 to cover a $45 million settlement with Solyndra LLC, resolving a long-running dispute. Trina Solar reported that dispute led to a net loss of $20 million for the period. Analysts were anticipating earnings of $31.9 million, the average of estimates, Bloomberg reported.
Jifan Gao, Chief Executive Officer stated that the firm agreed to the settlement on November 17 to avoid a burdensome and protracted lawsuit. Solyndra sued the firm and other Chinese photovoltaic manufacturers in 2012 accusing antitrust claims. Solyndra withdrew operations and fired most of its 1,100 workers in August 2011. It had received a $535 million loan guarantee from the US Energy Department before filing for bankruptcy, and its failure made the firm a talking point for Republican politicians to criticize President Barack Obama's attempts to subsidize renewable energy.
Trina announced its first loss since the Q2 of 2013, 24 cents an American depositary receipt versus profit of $11.5 million, or 14 cents, a year ago. Excluding the Solyndra provision and other items, the firm declared its income of $18.3 million, or 21 cents an ADR, missed the 28 cent average of analysts' estimates, according to Bloomberg.
SolarCity Corporation (NASDAQ:SCTY) [Detail Analytic Report] unveiled that the firm has promoted Tanguy Serra, Chief Operations Officer to the new role of President, reporting directly to Lyndon Rive, CEO of SolarCity. The firm also reported that Brad Buss, CFO of the firm intends to step down in 2016. Buss will remain as CFO through the completion of SolarCity's financial reporting for the fiscal year 2015 anticipated in early February and will remain in an advisory role until later in next year to ensure a smooth transition.
Serra will remain to oversee SolarCity's operations in his new position, and has assumed management of the firm's structured finance, asset management and investor relations organizations. The firm's global finance and accounting organizations will continue to report to Buss until his departure in February.
Rive stated that Tanguy has a rare combination of experience in solar operations and finance, and he has a unique understanding of finance and operations at the firm. As COO, Tanguy has significantly cut the cost of their operations while maintaining strong growth, and his increased responsibilities as President will put him in a position to accelerate those trends. Brad has been instrumental in enhancing their controls and processes, building a strong team and extending their structured finance engine. When they asked Brad to come out of retirement and join SolarCity they knew they wouldn't be able to keep him forever, and they're thankful for everything he's done.
Source: NVIDIA Corporation (NASDAQ:NVDA) Swings Up On Speculation of Nvidia Shield Tegra X1 Tablet- NYSE:TSL, NASDAQ:SCTY