Solar Stocks Surge like it's 2007
All solar stocks are up today with heavy gains across the board.
From upgrades to decent earning results, Solar Stocks had a very Bullish week remembering the good old times of 2007 before the Solar Tech downfall.
SPWR +9.18%
CSIQ +6.81%
FSLR +6.40%
STP +14.40%
SCTY +11.01%
SolarCity has been on the media radars quite often and the trend seems very steady:
Labels: Bullish, CSIQ, First Solar Inc, FSLR, SCTY, Solar Stocks, SolarCity Corp, SPWR, STP
Suntech Power Announces Default
Yesterday, Suntech announced that it has defaulted on its 3 percent convertible notes.
According to
Bloomberg (
citing Moody's), "No company has defaulted on publicly traded debt in China since the central bank began regulating the market in the late 1990s."
Suntech was the world's largest manufacturer of solar modules in 2011.
Labels: Default, solar panels, Solar Technology, STP, Suntech Power
Suntech Power Holdings (STP)
Suntech Power Holdings is having a wild ride in these last days.
Now up 28%, investors are still confused if Suntech will go into default, be saved by the China Government or neither of them.
Meanwhile the stock looks way too risky for any overnight trades.
The news reports have bondholders forcing the company into an involuntary bankruptcy tomorrow if the company doesn't pay back $541 million in bonds.
Two advisers of Chinese government agencies stated that the country would not do anything to save the once-largest solar panel manufacturer, Suntech Power Holdings from its creditors since the company requires economizing along with the rest of the industry.
Maybe next week we can get a hold of what the future holds for STP.
Labels: Solar Stocks, STP, Suntech Power
Suntech, Acquired, Now Officially a State-Owned Entity
After this news, Sun Tech Power (STP) is now trading 26% lower.
"
Any pretense of Suntech (NYSE: STP) being an independent entity is over.
China's Suntech, faced with a debt crisis and with the fate of thousands of employees' jobs hanging in the balance, "is poised to be taken over partly or entirely by the municipal government's holding company in its hometown, Wuxi, China," according to
reports in the
New York Times after a confirmation from a Wuxi official on Wednesday.
Suntech was the world's largest manufacturer of solar modules in 2011. But it now has cash issues and bond obligations of more than $500 million coming due. In July 2012, Suntech's business partner, Global Solar Fund (GSF), faked $680 million in collateral for a loan backed by Suntech."
Labels: Solar Stocks, STP, Suntech Power
More Sell Ratings for Suntech Power Holdings (STP)
Biggest down movement for today in Suntech Power Holdings Co., Ltd. -7.31%
In the news:
Hapoalim Securities is out with a research report this morning, where it reiterates its Sell rating Suntech Power Holdings (NYSE: STP); it has a $6.00 price target on the stock.
The HS analysts cited the company's better than expected Q3 revenues and gross margins (though worse than expected EPS), which was driven entirely by losses due to foreign exchange.
The analysts noted that, in an effort to address a higher production cost structure than peers arising from the need to outsource all of its wafer needs, STP announced the acquisition of 375 MW of wafer capacity from one of its equity holdings, Glory Silicon. STP is acquiring the 70% of the capacity it doesn't own for $127 million; this implies $0.48 per watt, ahead of the $0.35-0.40 capex per watt the analysts believe standard new wafer capacity can be built.
Read more
Labels: downgrade, Solar Stocks, STP, Suntech Power
Suntech to Announce Third Quarter 2010 Results
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of solar panels, will announce its financial results for the third quarter ended September 30, 2010, before the U.S. market opens on Wednesday, November 17, 2010. Suntech management will host a conference call that day at 8:00a.m. U.S. Eastern Time (which corresponds to 9:00p.m.Beijing/Hong Kong time and 1:00p.m. Greenwich Mean Time on November 17, 2010) to discuss the company's results.
Labels: Earnings, Solar Stocks, STP, Suntech Power
Top 10 Fastest-Growing Solar Stocks
Below are the top 10 fastest-growing Solar stocks, based on the average long-term earnings growth rate estimated by Wall Street analysts.
Real Goods Solar, Inc. (NASDAQ:RSOL) is the 1st fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 40.0%. This number is based on the average estimate of 2 brokerage analyst(s).
Canadian Solar Inc. (NASDAQ:CSIQ) is the 2nd fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 35.5%. This number is based on the average estimate of 4 brokerage analyst(s).
ReneSola Ltd. (ADR) (NYSE:SOL) is the 3rd fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 29.0%. This number is based on the average estimate of 2 brokerage analyst(s). SunPower Corporation (NASDAQ:SPWRA) is the 4th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 28.5%. This number is based on the average estimate of 6 brokerage analyst(s).
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) is the 5th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 25.0%. This number is based on the average estimate of 4 brokerage analyst(s).
Trina Solar Limited (ADR) (NYSE:TSL) is the 6th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 24.0%. This number is based on the average estimate of 5 brokerage analyst(s).
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) is the 7th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 23.8%. This number is based on the average estimate of 8 brokerage analyst(s).
First Solar, Inc. (NASDAQ:FSLR) is the 8th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 22.8%. This number is based on the average estimate of 8 brokerage analyst(s).
Evergreen Solar, Inc. (NASDAQ:ESLR) is the 9th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 22.5%. This number is based on the average estimate of 2 brokerage analyst(s).
JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is the 10th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 20.0%. This number is based on the average estimate of 3 brokerage analyst(s).
Source:
China AnalystLabels: CSIQ, ESLR, FSLR, JASO, RSOL, SOL, Solar Stocks, SPWRA, STP, TSL, YGE
Suntech Power Reports Earnings
Suntech Power Holdings Co., Ltd. (NYSE: STP), the world's largest manufacturer of crystalline silicon solar panels, today announced financial results for its second fiscal quarter ended June 30, 2010.
Second Quarter 2010 Highlights
-- Total net revenues were $625.1 million in the second quarter of 2010,
representing 6.3% growth sequentially and 94.8% year-over-year
-- Total PV shipments increased 11.9% sequentially and 181.7% year-over-
year
-- Gross profit margin for the core wafer to module business was 20.4% in
the second quarter of 2010
-- Consolidated gross profit margin was 18.2% in the second quarter of
2010
-- GAAP net loss attributable to holders of ordinary shares was $174.9
million, or $0.97 per American Depositary Share (ADS). Each ADS
represents one ordinary share. The non-cash impairment charges and
provisions related to thin film and Shunda had a negative impact of
$1.00 per diluted ADS
-- Achieved 1.4GW of PV cell and module production capacity at the end of
the second quarter of 2010. Suntech announced new capacity expansion to
reach 1.8GW of PV cell and module production capacity by the end of
2010
-- Increased 2010 annual shipment target from 1.3GW to 1.5GW, which
represents over 113% year-over-year shipment growth
"The second quarter was another period of robust multi-market demand," said Dr. Zhengrong Shi, Suntech's Chairman and CEO. "Strong operational execution ensured that we achieved our 1.4GW capacity target, which drove higher than expected shipment and net revenue growth."
"We delivered greater shipments to valued customers across Germany and other European markets including Italy, France, Benelux and the Czech Republic. Our investments into our North American expansion continued to bear fruit as we broadened market share and prepared for US-based manufacturing that will commence in the fourth quarter. We also secured supply agreements to several large, high profile projects in emerging markets including Thailand, India and Israel where our globally respected brand, reliable product performance and deep sales channels have provided a solid foundation to form new partnerships."
Source: prnewswire.com
Labels: Earnings, Solar Stocks, STP, Suntech Power
Suntech Power News
Shares of Suntech Power Holdings Company Ltd. (NYSE:STP) are trading higher by +3.60% ahead of its quarterly earnings release. Suntech Power, the Chinese photovoltaic products maker is expected to release its quarterly results on August 18th.
Wall Street Analysts consensus calls for a profit of $0.09 a share on $600.81 million revenue.
Suntech Power estimates have a range of $0.28 a share. The high estimate calls for profit of $0.27 a share and the low estimate is calling for a loss of $-0.01 a share, a year ago for the quarter the company reported $0.06 a share.
Suntech Power Holdings Company Ltd. (NYSE:STP) produces photovoltaic products. The Company designs, develops, manufactures and markets a variety of solar cells and modules. Suntech Power is based in China.
Labels: Earnings, Solar Stocks, STP, Suntech Power
Solar Earnings
Earning dates for this month:
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) Aug 18, 2010
Q2 2010 Earnings Release - 9:30AM EDT
Trina Solar Limited (ADR) (NYSE:TSL)Aug 24, 2010
Q2 2010 Earnings Conference Call - 8:00AM EDT
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) Aug 19, 2010
Q2 2010 Yingli Green Energy Holding Company Limited Earnings Release - 9:30AM EDT
Labels: Earnings, Solar Stocks, STP, Suntech Power, Trina Solar, TSL, YGE, Yingli Green Energy Hold
Claymore/MAC Global Solar Index (ETF) (NYSE:TAN)
The Solar Stock ETF TAN continues upwards, alongside other titles like STP, FSLR and TSL. All still looking bullish on the short-term.
Labels: FSLR, solar ETF, Solar Stocks, STP, Suntech Power, Trina Solar, TSL
Goldman Sachs Says Go Long Solar Stocks
For all the perceived evil, you have to give them credit....
Goldman Sachs knows how to make money — lots of it.
In fact, they are so good at making money — for themselves and their clients — that for years they've been referred to in financial circles as 'Golden Slacks'.
It's rumored that they won't talk to you unless you've got $5 million to invest. And they only lend their name to the most exclusive high-end deals and initial public offerings. (They underwrote yesterday's Tesla IPO.)
Point is, Goldman is the best of breed of Wall Street banks. When they speak... the world listens.
And this week, they came out bullish on the solar sector.
Goldman's solar calls
Attached to the Goldman client note was a list of solar stocks and their analysts' opinion of each.
Here are the stocks they initiated coverage on, along with ratings and price targets:
First Solar (NASDAQ: FSLR): Buy rating and $150 price target
SunPower (NASDAQ: SPWRA): Neutral rating, $15 price target.
MEMC (NYSE: WFR): Sell rating, $9 price target.
JA Solar (NASDAQ: JASO): Buy rating, added to Conviction List. $7.50 target price.
Suntech (NYSE: STP): Sell. Target price: $8.40.
SourceLabels: Bullish, First Solar Inc, FSLR, Goldman Sachs, JASO, Solar Stocks, SPWRA, STP, Suntech Power
Top 10 Best-Rated Solar Stocks
Below are the top 10 best-rated Solar stocks, based on the number of positive ratings by brokerage analysts. Six Chinese companies (TSL, STP, YGE, JASO, SOLF, SOL) are on the list.
First Solar, Inc. (NASDAQ:FSLR) is the 1st best-rated stock in this segment of the market. It is rated positively by 24 brokerage analysts. It is covered by 41 brokerage analysts. Trina Solar Limited (ADR) (NYSE:TSL) is the 2nd best-rated stock in this segment of the market. It is rated positively by 17 brokerage analysts. It is covered by 20 brokerage analysts. Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) is the 3rd best-rated stock in this segment of the market. It is rated positively by 12 brokerage analysts. It is covered by 37 brokerage analysts. Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) is the 4th best-rated stock in this segment of the market. It is rated positively by 11 brokerage analysts. It is covered by 20 brokerage analysts. SunPower Corporation (NASDAQ:SPWRA) is the 5th best-rated stock in this segment of the market. It is rated positively by 11 brokerage analysts. It is covered by 36 brokerage analysts.
MEMC Electronic Materials, Inc. (NYSE:WFR) is the 6th best-rated stock in this segment of the market. It is rated positively by 10 brokerage analysts. It is covered by 23 brokerage analysts. GT Solar International, Inc. (NASDAQ:SOLR) is the 7th best-rated stock in this segment of the market. It is rated positively by 8 brokerage analysts. It is covered by 10 brokerage analysts. JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is the 8th best-rated stock in this segment of the market. It is rated positively by 8 brokerage analysts. It is covered by 17 brokerage analysts. Solarfun Power Holdings Co., Ltd. (ADR) (NASDAQ:SOLF) is the 9th best-rated stock in this segment of the market. It is rated positively by 6 brokerage analysts. It is covered by 12 brokerage analysts. ReneSola Ltd. (ADR) (NYSE:SOL) is the 10th best-rated stock in this segment of the market. It is rated positively by 5 brokerage analysts. It is covered by 7 brokerage analysts.
Source: China Analyst cnanalyst.com
Labels: First Solar Inc, FSLR, Solar Ratings, Solar Stocks, Solar Technology, STP, Suntech Power, Trina Solar, TSL
Will the rally continue?
The market rallied yesterday, with many solar stocks posting impressive gains.
SunPower Corporation (SPWRA) up more than 20% yesterday:
"Announced a joint venture will own and operate SunPower's 1.4 gigawatt third solar cell fabrication facility, now under construction in Malaysia. SunPower and AUO will equally own the joint venture and contribute equal capital funding."
Suntech Power Holdings Co., Ltd. (STP):
Labels: Bullish, solar charts, Solar Stocks, SPWRA, STP
Solar Stocks Gapping Up
The market should open today with a decent Gap Up.
Let's see how far the Bulls will go. Many solar stocks are gapping more than 3%.
STP 3.2%
TSL 4.6%
CSIQ 2.3%
SolarFun (SOLF) reported earnings and is gaining 11% on the Pre-Market.
FIRST QUARTER 2010 HIGHLIGHTS
Total net revenues were RMB 1,475.8 million (US$216.2 million) in 1Q10, an increase of 17.8% from 4Q09 and an increase of 115.7% from 1Q09.
PV module shipments, including module processing services, reached 150.6 MW, an increase from 110.8 MW in 4Q09 and from 35.7 MW in 1Q09.
Average selling price, excluding module processing services, declined, as expected, to US$1.76 per watt in 1Q10.
Gross profit was RMB 272.5 million (US$39.9 million) and gross margin was 18.5%.
The main Solar Stock ETF looks like this, but expect a good bullish move for today:
Labels: solar ETF, Solar Stocks, Solarfun, SOLF, STP, Suntech Power, TSL
The State of the TAN
More Bearish moves for the solar stocks with TSL, CSIQ, YGE and STP losing more than 5% for the day.
Claymore/MAC Global Solar Index (Solar Stock ETF) is making new lows. Maybe this is the time to start buying?
Labels: Bearish, CSIQ, solar ETF, Solar Stocks, STP, TAN, TSL, YGE
Suntech Announces Preliminary Results
Suntech Power Holdings Co., Ltd. (NYSE: STP), one of the world's largest crystalline silicon photovoltaic (PV) module manufacturers, today announced preliminary financial results for the first quarter of 2010.
Suntech expects total net revenues for the first quarter of 2010 to be in the range of $580 million to $590 million. Gross margin is expected to be in the range of 19% to 20%, compared to previous guidance of 18% to 20%.
As a result of the depreciation of the Euro versus the USD, Suntech expects to incur a foreign exchange loss of approximately $24 million to $25 million for the first quarter of 2010. This is expected to be partially off-set by a net gain of approximately $2 million to $3 million from hedging activities.
Dr. Zhengrong Shi, Suntech's Chairman and CEO said, "We are pleased to see extremely strong demand in the first quarter of 2010. With robust demand in incumbent solar markets and rapid growth in a host of emerging markets, we expect this environment to continue deep into 2010."
Source:prnewswire.com
Most Solar Stocks are moving up between 5% and 10% in the Pre-Market. With the massive rally in the European Markets, this should be an interesting day.
Labels: Earnings, Solar Stocks, STP, Suntech Power
Solar Stocks Plunge
Chinese stocks fell hard on Thursday trailing Asian indices lower. Large cap stocks hold on better than smaller counterparts; the Claymore/AlphaShares Small Cap China ETF (NYSE:HAO) lost three times as much as the large cap proxy, FXI.
Energy, solar stocks weight down indices on stronger dollar and falling oil. Solar stocks dominate the worst performing China ADR universe by noon on Thursday. Suntech Power (NYSE:STP), Solarfun Power (NYSE:SOLF), Canadian Solar (NASDAQ:CSIQ), Yaingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL) make up the worst stocks measured in percentage change on the following screen.
Solar stocks continue the plunge with many Solar Companies dropping more than 10% just for this day.
The Solar Stock ETF quotes: 7.22 -0.54 (-6.96%)
Labels: Bearish, CSIQ, Solar Stocks, SOLF, STP, TSL, YGE
Wells Fargo covering Solar Stocks
An analyst at Wells Fargo initiated coverage on a group of stocks in the Solar space earlier today:
ReneSola (NYSE: SOL) with an Outperform rating and a $9.50-$12 valuation range. Calls ReneSola a "big beneficiary of 2010 demand trends," mainly wafer pricing, margins and protection from its OEM segment if the market turns lower. Shares of ReneSola are down more than 5% today, last trading around $7.06.
Solarfun (Nasdaq: SOLF) with an Outperform rating and a $10-$12.50 valuation range. The firm notes that the company has been historically unappreciated, however, "with a new management team and an improving cost structure, we believe SOLF is leaving the penalty box." Wells Fargo argues that Solarfun has "one of the best risk-reward profiles in the group..." The firm expects Solarfun to report FY10 EPS of $0.92. Solarfun shares are one of the few solar stocks holding onto positive territory today, last trading up 0.5% to $8.39.
Yingli Green Energy (NYSE: YGE) with a Market Perform rating and a $11.50-$14.50 valuation range. The firm said it would like to be more positive on Yingli given that the company boasts a "industry-leading cost structure," however, the FY10 outlook looks to be "already among the most optimistic in the group..." Wells Fargo also believes that the recent polysilicon plant adds risk and that the balance sheet needs cleaning-up. The firm is currently looking for Yingli to report FY10 EPS of $0.94. Shares of Yingli are down 3.1% to $11.87.
Canadian Solar (Nasdaq: CSIQ) with a Market Perform rating and a $18-$23 valuation range. Wells Fargo says exchange rate headwinds and firmer input pricing could be issues for Canadian Solar in the first half of this year. "While H2 comparisons and earnings improvement are pluses, revenue growth and margin structure remain in flux, forcing the company to choose between market share and profits." The firm is looking for Canadian Solar to report FY10 EPS of $1.34. CSIQ shares are up 0.3% to $16.90 today.
Suntech (NYSE: STP) with a Market Perform rating and a $11-$14 valuation range. Wells says "Suntech has one of the best brands in the industry, but we believe the company needs to revamp its cost structure and improve corporate governance, notably its relationship with Global Solar Fund (GSF); Suntech has a high ownership stake in this entity but does not consolidate results. Valuation of 17x 2010E EPS vs. the peer group near 15x leaves little room for stock appreciation, in our view." Shares of Suntech are down 3.2% to $12.62 today.
Source: streetinsider.com
Labels: CSIQ, SOL, solar analysis, Solar Stocks, SOLF, STP, YGE
Suntech,Trina Solar sign $11.7 bln loan deals
China's top solar power equipment makers Suntech Power Holdings (STP.N) and Trina Solar (TSL.N) have signed framework agreements with China Development Bank (CDB) [CHDB.UL], giving them access to a combined 80 billion yuan ($11.72 billion) in loans, company officials said.
Suntech, China's largest solar cell and panel maker, signed an agreement with CDB for up to 50 billion yuan ($7.33 billion) worth of loans over five years, Rory Macpherson, Suntech's director for investor relations, told Reuters on Wednesday.
"It's a non-binding agreement," he said. "It's not related to specific projects ... it could be used for capacity expansion. It essentially shows the strong partnership between Suntech and China Development Bank," he said, adding that the agreement was signed in the past two weeks.
Trina Solar forged a 30 billion yuan ($4.40 billion) loan agreement with CDB that will last through 2015, Chief Financial Officer Terry Wang said.
SourceTrina Solar Chart:
Labels: solar charts, Solar Stocks, STP, Suntech Power, Trina Solar, TSL
