LDK Solar Results Miss Estimates
LDK Solar Co., Ltd.'s Q4 2009 Results Miss Estimates, Stock Drops; Issues Q1 2010 Revenue Guidance Above Analysts' Estimates-Reuters
Tuesday, 30 Mar 2010 11:35am EDT
Reuters reported that LDK Solar Co., Ltd.'s fourth quarter 2009 earnings missed Wall Street expectations, sending its shares tumbling. The Company also expects first quarter 2010 revenue of between $310 million and $330 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $312 million for the first quarter of 2010.
Source: Reuters
Labels: Earnings, LDK, LDK Solar, Solar Stocks
JA Solar continues the rally
After yesterday's big move across all solar stocks, JA Solar Holdings Co., Ltd.(NASDAQ:JASO) continues the move up, gaining more than 6% for today.
Expect some resistance around the $6 mark:
Labels: Bullish, JA Solar Holdings Co., JASO, solar charts, Solar Stocks
Barclays Bullish On Solar
Barclays Raises Price Targets On SOLF, FSLR, SOL, CSIQ, TSL, YGEMost Solar Stocks closed higher today, thanks to the Barclays upgrade, with some solar stocks like SOLF, CSIQ or JASO finishing the day up, more than 8%
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 to $25
Trina Solar (TSL) from $23 to $25
Yingli Green Energy (YGE) from $10 to $14
All of these are maintained at Equalweight by Barclays.
Labels: Bullish, CSIQ, First Solar Inc, FSLR, JA Solar Holdings Co., JASO, Solar Stocks, Solarfun, SOLF, TSL
Solar Stocks ETF
Claymore/MAC Global Solar Index (ETF) (Public, NYSE:TAN) Chart Update:
Labels: solar ETF, Solar Stocks, TAN
Chevron tests solar technologies in Bakersfield
A demonstration energy project in Bakersfield aims to figure out which of several technologies works best to convert energy from the sun into usable power. KPCC's Molly Peterson reports on an announcement by the Chevron company.
Think of Chevron's project as an 8-acre science experiment. The test the company's announced includes sevent kinds of solar panels – 7,700 altogether – that different companies have developed.
Six of them demonstrate thin-film photovoltaic panels. Thin film technology uses semiconductor material like silicon spread out microscopically in a sheet to convert the sun's energy to power.
The seventh uses incredibly tiny crystals of silicon to do the same thing. All seven of the different solar companies have the same conditions under which they can prove how much energy they generate.
Chevron plans to compare their performance to an eighth technology, a commonly available solar panel like the kind many southern Californians have on their roofs. The company will use the energy produced to power Kern River Oil Field operations. Chevron will sell extra energy back into the grid.
SourceLabels: Solar News, Solar Stocks, Solar Technology
SunPower Reports Fourth-Quarter 2009 Results
SPWRA is down -14% after earnings results:
Record Q4-2009 revenue of $548 million; fiscal-year 2009 revenue of $1.52 billion -- Q4 GAAP EPS of $0.09 and non-GAAP EPS of $0.47 - includes $0.03 per share in accounting investigation expenses -- Completed largest solar power plant in Italy, 24-megawatt (MW) project in Montalto -- Completed construction of more than 100-MW rooftop and ground mount systems in 2009 -- More than doubled the number of SunPower dealers in 2009 to ~1,000 dealers in eight countries -- Announced the acquisition of SunRay Renewable Energy - will add 1.2 gigawatt pipeline -- Announced 200 MW, five year rooftop supply agreement with Southern California Edison -- Financed 19-MW power plant for Xcel Energy in Colorado to be completed in 2010 -- Announced 32-MW supply agreement with Toshiba for 2010 delivery -- Appointed Jim Pape to lead Residential and Commercial (R&C) business unit
SourceLabels: Bearish, Earnings, Solar Stocks, SPWRA
SunPower Corporation Earnings Today
After the closing bell, SunPower Corporation (SPWRA) will take the spotlight to reveal its fourth-quarter earnings. Analysts surveyed by Thomson Reuters are expecting the solar concern to report net income of 49 cents per share, down from its year-ago profit of 70 cents per share. Sales for the period are expected to arrive at $491 million.
SunPower has a solid history in the earnings spotlight, having exceeded Wall Street's consensus expectations in three of the past four reporting periods. Judging by a recent uptick in call buying, some traders appear to be anticipating another upside surprise.
During the past 10 days, traders on the International Securities Exchange (ISE) have bought to open 3.75 calls for every put on SPWRA, revealing a distinct preference for bullish bets over their bearish counterparts. In fact, this ratio of calls to puts ranks higher than 82.7% of other such readings, indicating that traders on the ISE have rarely shown a greater bias toward calls over puts.
SourceLabels: Earnings, Solar Stocks, SPWRA, SunPower Corp
Suntech Power is up!
After a week of going nowhere,
Suntech Power Holdings Co., Ltd. (STP) is up 4%.
Global Markets seem to continue the Bullish run, so this should be a good moment for Solar Stocks on the short-term.
Suntech Power Holdings Co., Ltd. (STP) Chart
Labels: Bullish, solar charts, Solar Stocks, STP, Suntech Power
Zacks Analyst Blog Highlights
First Solar Inc., Southern Company, Suntech Power Holdings Company Ltd., SunPower Corporation and ReneSola LtdFirst Solar Sells Project
First Solar Inc. (FSLR - Analyst Report) has sold a 30 megawatt (AC) photovoltaic solar power project to Southern Company (SO - Analyst Report) and Turner Renewable Energy.
The Cimarron I photovoltaic solar power project is adjacent to the Vermejo Park Ranch in northern New Mexico . First Solar is developing the project and is providing engineering, procurement and construction (EPC) services.
First Solar will also provide operation and maintenance services under a 25-year contract. The facility will supply power to approximately 9,000 homes, or 18,000 residents, and displace over 45,000 tons of carbon dioxide per year.
Construction of the solar array will begin in March, with completion and commercial operation expected by year-end 2010. It will consist of approximately 0.5 million photovoltaic modules constructed with First Solar's patented thin film semiconductor technology.
Turner Renewable Energy is wholly owned by the media magnate Ted Turner.
...
First Solar enjoys a distinct cost advantage over its peers due to its reliance on low cost thin-film cells. However, the advantage is ebbing fast due to falling polysilicon prices. First Solar’s growth potential and that of the solar industry in the aggregate requires a prudent long-term focus on technological enhancements, capacity build-out and cost minimization. Balancing all three aspects would be an uphill task.
Competition in the industry is becoming tougher by the day for U.S. solar players such as First Solar, who has a huge German exposure in its top line compared to its counterparts such as Suntech Power Holdings Company Ltd. (STP - Analyst Report), SunPower Corporation (SPWRA - Snapshot Report) and ReneSola Ltd. (SOL - Analyst Report), whose markets are more diversified.
SourceLabels: First Solar Inc, FSLR, ReneSola, SOL, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
Solar Stock ETF: TAN
After these bullish weeks the Solar Stocks seem to be facing new resistance barriers. If the S&P 500 goes down for a short-term correction move, the solar industry will probably follow. So lets see and wait for the market reaction this week:
Claymore/MAC Global Solar Index (TAN)
Labels: Global Solar Index, solar charts, solar ETF, Solar Stocks, TAN
First Solar, Inc. Reiterates FY 2010 Revenue
First Solar, Inc. announced that for fiscal 2010, it continues to expect net sales to grow to $2.7 billion to $2.9 billion. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $2.8 billion
FSLR seems to be in full upswing, the short-term still looks bullish:
Labels: First Solar Inc, FSLR, Solar Stocks
ETF Preview: Solar Stocks Likely to See Downside Pressure on First Solar Downgrade
Commodities -
United States Oil Fund (USO) is down 1.5%. United States Natural Gas (UNG) is down 0.2%.
Renewed hopes for Greece being able to tackle its debt woes is weakening investors’ appetite for gold in early morning trade Tuesday. A firmer dollar is also weighing on the metal’s price. Meanwhile, there is growing concern that Chinese demand for gold may not be as strong as once thought. Gold is 0.5% lower at $1,117.90, while silver is 1.34% weaker at $1,704.00, and copper is down around 1% at $337.75. SPDR Gold Shares (GLD) is down 0.5% and Market Vectors Gold Miners fund (GDX) is down 1%, both among the most active ETFs this morning. iShares Silver Trust (SLV) is up 0.7%.
ETF Power Play -
The Claymore MAC Global Solar Energy Index (TAN) and Market Vectors Solar Energy (KWT) could see increased selling pressure closer to today’s bell.
First Solar (FSLR) is down 3.9% after JPMorgan reportedly cut its rating on the stock to Underweight from Neutral.
SourceLabels: Crude Oil, downgrade, First Solar Inc, FSLR, Solar Stocks
Yingli Green Energy posts 4th-qtr loss, predicts strong 2010 solar module shipments
Yingli Green Energy Holding Co. (YGE) on Monday said its fourth-quarter results slid to a loss driven by one-time charges, but the solar cell maker predicted 2010 module shipments to nearly double from 2009 levels.
The China-based company posted a quarterly loss of 44.8 million renminbi ($6.6 million), or 0.3 renminbi per American Depository Share (4 cents per ADS), compared with a profit of 82 million, or 0.64 renminbi per ADS, during the same period the prior year.
Excluding special charges, adjusted earnings amounted to 137.5 million renminbi ($20.2 million), or 0.89 renminbi per ADS (13 cents per ADS).
Analysts polled by Thomson Reuters estimated a profit of 14 cents per ADS, on average. Analysts typically exclude one-time items.
Revenue climbed 44 percent to 2.53 billion renminbi ($370.8 million) from 1.76 billion renminbi in the prior-year period. Analysts forecast an average revenue of $326.5 million.
For the full year, the company reported a loss of 459.2 million renminbi ($67.3 million), or 3.31 renminbi per ADS (48 cents per ADS), compared with earnings of 653.8 million renminbi, or 5.05 renminbi per ADS, in 2008. Revenue slid 4 percent to 7.25 billion renminbi ($1.06 billion).
SourceLabels: Earnings, Solar Stocks, YGE, Yingli Green Energy Hold
Top 10 Solar Stocks with Highest Short Interest
Below are the top 10 Solar stocks with the highest short interest as a percentage of total shares outstanding. Four Chinese companies (LDK, STP, YGE, TSL) are on the list.
Energy Conversion Devices, Inc. (NASDAQ:ENER) has the 1st highest short interest in this segment of the market. Its short interest is 33.4% of its total shares outstanding. Its Days to Cover is 5.51, calculated as current short interest divided by average daily volume.
First Solar, Inc. (NASDAQ:FSLR) has the 2nd highest short interest in this segment of the market. Its short interest is 18.9% of its total shares outstanding. Its Days to Cover is 7.61, calculated as current short interest divided by average daily volume.
LDK Solar Co., Ltd. (NYSE:LDK) has the 3rd highest short interest in this segment of the market. Its short interest is 18.7% of its total shares outstanding. Its Days to Cover is 7.66, calculated as current short interest divided by average daily volume.
SunPower Corporation (NASDAQ:SPWRA) has the 4th highest short interest in this segment of the market. Its short interest is 15.9% of its total shares outstanding. Its Days to Cover is 7.13, calculated as current short interest divided by average daily volume.
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) has the 5th highest short interest in this segment of the market. Its short interest is 12.4% of its total shares outstanding. Its Days to Cover is 6.74, calculated as current short interest divided by average daily volume.
Evergreen Solar, Inc. (NASDAQ:ESLR) has the 6th highest short interest in this segment of the market. Its short interest is 11.1% of its total shares outstanding. Its Days to Cover is 5.31, calculated as current short interest divided by average daily volume.
Continue
readingLabels: ENER, ESLR, First Solar Inc, FSLR, LDK, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
Solar Stocks Rally
Most solar stocks are having a great day today, with many companies gaining more than 3% for today.
Some charts for today:
JA Solar Holdings Co., Ltd. (ADR) (Public, NASDAQ:JASO)
And the Solar Stock ETF shows how the whole sector bounced with the following gap:
Claymore/MAC Global Solar Index (ETF)
Labels: Global Solar Index, JA Solar Holdings Co., JASO, MAC, solar ETF, Solar Stocks, TAN
LDK Solar Acquires Best Solar's Crystalline Module Manufacturing Plant
LDK Solar Co., Ltd. (NYSE:LDK - News), a leading manufacturer of multicrystalline solar wafers, today announced that it has entered into an agreement to acquire the crystalline module manufacturing plant of Best Solar Co., Ltd. ("Best Solar"). Under the terms of the transaction LDK Solar will acquire Best Solar's crystalline module manufacturing plant at cash consideration of $21.5 million, representing the fair value of the assets acquired determined on an arms-length basis.
"This acquisition will significantly enhance LDK Solar's position in the downstream PV market," stated Jack Lai, Executive Vice President, Chief Financial Officer, and Secretary of LDK Solar. "LDK Solar has been fulfilling the majority of its solar module needs through purchases from Best Solar over the past three quarters. We look forward to realizing cost efficiencies by bringing crystalline module manufacturing in-house.
SourceLabels: LDK, LDK Solar, Solar News, Solar Stocks
