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Wednesday, February 19, 2014

SunEdison to keep solar projects as it eyes long-term profits, (NYSE: SUNE)

SunEdison Inc said it would stick to its strategy of keeping solar power projects rather than selling them in 2014, sacrificing revenue in favor of long-term profit.The U.S. solar company's shares rose as much as 7 percent in early trading on the New York Stock Exchange on Wednesday.SunEdison's strategy of keeping projects instead of selling them led to a larger loss in the fourth quarter ended Dec. 31.The company said it retained 127 megawatts of projects worth $260 million in the quarter, forgoing about $100 million in gross margin and creating about $160 million of value.

SunEdison Inc, formerly MEMC Electronic Materials, Inc is engaged in the development, manufacture and sale of silicon wafers. Shares of SUNE traded higher by 1.52% or $0.23/share to $15.41. In the past year, the shares have traded as low as $3.95 and as high as $15.22. On average, 10098500 shares of SUNE exchange hands on a given day and today's volume is recorded at 13167594.