Francisco Blanch is head of commodities and derivatives research at Bank of America Securities. Francisco, it's great to have you back on the program. How do you see this Russia story playing out.And are you surprised that oil's not moving more given that Ukrainian drones hit pretty deep inside Russia. >> Hey, hey, thanks for having me. Look, we've had of course hits to Ukrainian refineries, but also so Russian refineries by by Ukrainian drones, but also uh we had the port of Primorsque, which uh which was ...

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Core Insights - Clean Energy Technologies, Inc. (CETY) focuses on renewable energy solutions, particularly waste heat recovery systems, but faces challenges in capital efficiency [1] - CETY's Return on Invested Capital (ROIC) is -11.03%, which is below its Weighted Average Cost of Capital (WACC) of 9.16%, indicating inefficiencies in capital utilization [2] - In comparison, US Nuclear Corp. (UCLE) has a significantly worse ROIC of -234.03% against a WACC of 9.40%, highlighting severe inefficiencies in capital management [3] - Sun Pacific Holding Corp. (SNPW) demonstrates a positive ROIC of 7.48%, exceeding its WACC of 6.54%, indicating efficient capital utilization and growth potential [4]

Core Insights - Bloom Energy's shares reached an all-time high of $68.74, surging 17.4% in a five-day trading period due to increased demand for hydrogen fuel cells and a significant analyst upgrade [1][3] - RBC Capital analyst Christopher Dendrinos raised the price target for Bloom Energy from $35 to $75, highlighting strong demand and growth potential [3] - Bloom Energy has placed a nearly $44 million order with MTAR Technologies, indicating strategic partnerships in the clean energy sector [3] Financial Performance - Bloom Energy plans to double its capacity to 2 gigawatts by the end of 2026, with projected revenues of $1.65 billion to $1.85 billion in 2025, up from approximately $1.5 billion last year [4] - The company reported record revenue and profits for the second quarter, with gross margins increasing from 20.4% to 26.7% and a significant reduction in operating loss from $23.1 million to $3.5 million [4] Market Sentiment - Investor sentiment was bolstered by Oracle's guidance predicting a 14-fold increase in cloud infrastructure revenue to $144 billion by fiscal 2030, which could create larger opportunities for Bloom Energy [5] - Bloom Energy's stock has increased by 200% in 2025 and 525% over the past year, reflecting strong market performance [6]

Core Insights - Nvidia's market cap has surged from $1 trillion in 2023 to $4.3 trillion in 2025, reflecting a 32% increase in the current year and a total growth of 185% by the end of 2024, driven by its dominance in the AI chip market [2][3] - Oklo, a nuclear power start-up, has experienced a remarkable 1,200% increase in its stock over the past year, indicating strong investor interest in AI-related energy solutions [3] Industry Trends - The demand for electricity is rapidly outpacing supply, particularly due to the energy needs of AI data centers, leading to rising electricity rates in both the short and long term [5] - Companies like Microsoft and Meta Platforms are seeking renewable energy sources, such as solar power, to meet their data center energy needs, but the feasibility of large solar and wind farms is limited by land availability [5] Company Innovations - Oklo's small modular nuclear reactors (SMRs) present a novel solution for energy supply, offering a compact and reliable source of cheap, zero-emission electricity for energy-intensive facilities like AI data centers [5][6] - Oklo is collaborating with engineering firm Vertiv to develop cooling systems powered by SMRs, which can efficiently support both data centers and the reactors themselves [5][6] - The company has been selected to participate in the Department of Energy's Nuclear Reactor Pilot Program, highlighting its potential in the energy sector [6]

Core Insights - Vistra Corp. (VST) is trading at a premium valuation with a forward 12-month price-to-earnings (P/E) ratio of 26.39X, compared to the utility industry average of 14.43X and the broader Zacks Utilities Sector at 15.86X [1][6][22] Business Strategy - Vistra aims to expand through strategic investments in high-value retail, renewable, and energy storage assets while reducing its carbon footprint to create sustainable value for stakeholders [2] - The company benefits from a fully integrated model that combines power generation, retail electricity sales, and energy storage, enhancing earnings visibility and stabilizing cash flows [9] Performance Metrics - Vistra's generation capacity as of December 31, 2024, is 40,657 megawatts (MW), with a fuel mix of 59% natural gas, 21% coal, 16% nuclear, and 4% renewables [10] - The trailing 12-month return on equity (ROE) for Vistra is 108.41%, significantly higher than the industry average of 9.89% [16] Earnings Estimates - The Zacks Consensus Estimate for VST's 2025 earnings per share indicates a year-over-year decline of 10%, while 2026 shows an improvement of 32.54% [12] - Current estimates for VST's earnings per share for 2025 and 2026 are $6.30 and $8.35, respectively [13] Capital Return Program - Vistra has repurchased over $5.4 billion in shares since November 2021 and plans an additional $1.4 billion in buybacks through 2026 [19] - The company has approved a quarterly dividend of 22.60 cents for Q3 2025, targeting an annual dividend payment of $300 million, having raised its dividend 16 times in the past five years [20]

Company Overview - Canadian Solar Inc. (NASDAQ:CSIQ) is recognized as a leading company in the wind power and solar sectors, focusing on developing and manufacturing solar energy and battery energy storage solutions [1][4] - The company has delivered nearly 165 GW of solar photovoltaic modules globally since its inception in 2001 and has shipped 13 GWh of battery storage solutions as of the end of June [3] New Product Launch - The company’s subsidiary, e-STORAGE, is set to unveil FlexBank 1.0, a modular battery system designed for utility-scale energy storage applications [1][2] - FlexBank 1.0 is designed to deliver 8.36 MWh and features an open frame architecture that simplifies logistics and installation, built on 314Ah Lithium-Iron-Phosphate cell technology with multiple safety features [2][3] Strategic Importance - The introduction of FlexBank 1.0 represents a strategic evolution of Canadian Solar's utility-scale energy storage platform, aimed at addressing critical customer needs for safe, adaptable, and cost-effective solutions [3]

Group 1 - GE Vernova Inc. plans to cut 600 jobs across Europe as part of a restructuring effort, with 120 positions eliminated in France, including 42 at the Belfort site [1][2] - The restructuring aims to streamline operations, although specific details regarding affected countries and timelines for layoffs remain undisclosed [2] - GE Vernova specializes in high-efficiency wind turbines for onshore and offshore applications, as well as solar energy technologies, battery energy storage, and power plant control systems [3]

Renewable Energy & Emissions - China's renewable energy capacity is so significant that it is on the verge of causing a decrease in emissions [1] - This emissions reduction is positive for the global climate [1] AI Ambitions - China's renewable energy advancements are also beneficial for the country's artificial intelligence ambitions [1]