Trina Solar shares climb after 2Q profit doubles
Shares of Trina Solar Ltd. got a boost Tuesday after the Chinese maker of solar wafers, cells and modules reported sharply higher net income and revenue for the second quarter, surpassing Wall Street's expectations.
THE SPARK: Trina shipped more solar modules during the quarter than it had expected — 223 megawatts, above its expectations of 200 to 205 megawatts. The company's net income doubled to 38.7 million, or 52 cents per share, up from $18.6 million, or 35 cents per share, a year earlier.
Revenue more than doubled to $370.8 million from $150 million. Analysts polled by Thomson Reuters expected earnings of 49 cents per share on revenue of $338.3 million.
Labels: Earnings, solar charts, Solar Stocks, Trina Solar, TSL
Trina Solar to Supply Solar Modules to SunEdison
Trina Solar Limited (NYSE: TSL) ("Trina Solar" or the "Company"), a leading integrated manufacturer of solar photovoltaic (PV) products from the production of ingots, wafers and cells to the assembly of PV modules, today announced that its subsidiary, Trina Solar (U.S.) Inc., has signed a sales agreement to supply solar modules to SunEdison, a subsidiary of MEMC Electronic Materials, Inc. ("MEMC").
Under the terms of the agreement signed with MEMC, Trina Solar is expected to supply SunEdison with approximately 35 megawatts (MW) of PV modules over the remainder of 2010. The modules are expected to be utilized by SunEdison for projects in North America and Europe.
"This collaboration once again demonstrates Trina Solar's ability to partner with leading U.S. solar industry players to create effective PV solutions in the U.S. market," said Mr. Sean Tzou, Chief Strategy Officer of Trina Solar. "Combining Trina Solar's high-quality modules with SunEdison's leading solar project capabilities, helps our company to further increase market share, diversify our sales base and enhance recognition of our brand globally."
Source: prnewswire.com
TSL Chart:
Short Term and Long Term trends seem to point up. Trina Solar is still beating the performance of the whole bearish market in these last months.
Labels: solar charts, Solar News, Solar Stocks, Trina Solar, TSL
The TAN, Solar Stock ETF
The rally of these last weeks is over, but how long the bearish swing will last?
Claymore/MAC Global Solar Index (ETF) (NYSE:TAN):
Labels: Global Solar Index, solar charts, solar ETF, Solar Stocks, TAN
First Solar Rallies As Credit Suisses Turns Bullish; $150 Target
First Solar (FSLR) shares are on the rise this morning after Credit Suisse analyst Satya Kumar upped his rating on the stock to Neutral from Outperform, with a new price target of $150, up from $110. He contends that upside in pricing for Q2 and Q3 is not yet reflected in the stock.
Kumar offers a four-part thesis for his upgrade of the solar company’s shares:
He sees upside to estimates, and today raised his 2010 demand estimate to 13 GW from 12.7 GW, and says strong demand should reduce price erosion.
Risks to long-term margins are diminishing, he contends. Easy cost reductions for rival silicon-based solar companies - in particular lower poly prices, outsourcing to China and vertical integration - have mostly been accomplished.
Long-term growth prospects remain intact; he says 2011 might not be as bad as feared, particularly in Germany; he thinks U.S. demand could surprise positively.
FSLR’s panel efficiencies should “inflect meaningfully higher” by Q4 of this year or Q1 of next year, he contends.
Kumar raises his 2010 EPS estimate to $7.53, from $6.79; the Street consensus is $6.93. For 2011, he goes to $8.32, from $7.34.
First Solar Chart for today:
Labels: Bullish, First Solar Inc, FSLR, solar charts, Solar Stocks
Solar ETF TAN
Markets seem to be rebounding today.
The Solar Stock ETF (Claymore/MAC Global Solar Index) (TAN) represents the solar stocks industry and seems to be Bullish on the very short term:
Only time will tell if the Bulls get the upper hand. We might have a double bottom pattern forming.
Labels: solar charts, solar ETF, Solar Industry, Solar Stocks, TAN
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
Bulls coming back in Solar?
Most Solar Stocks are showing some signs of a reversal move. Only time will tell if this is just another Bull Trap.
First Solar, Inc. (FSLR) Chart looks interesting:
Labels: Bullish, FSLR, solar charts, Solar Stocks
Solar Energy Could Provide 25% Of World Electricity
The International Energy Agency (IEA) presented two new analyses in Valencia, Spain this week, a Solar Photovoltaic Energy Technology Roadmap and a Concentrating Solar Power Technology Roadmap. 1bog reports.
A key long-term finding from these analyses is that 20-25% of global electricity production could be from solar electricity by 2050.
Some interesting charts:
SourceLabels: solar charts, Solar Energy prices, Solar power, Solar Technology
LDK Solar Co., Ltd. Issues Q2 Revenue Guidance
LDK Solar Co., Ltd. announced that for the second quarter 2010, it expects revenue of between $460 and $490 million. For fiscal 2010, it expects revenue to be in the range of $1.6 to $1.7 billion. According to Reuters Estimates, analysts were expecting the Company to report revenue of $377 million for the second quarter of 2010; revenue of $1.4 billion for fiscal 2010.
Source: Reuters
The chart looks bumpy for LDK Solar, but this might be a bullish short-term trend forming:
Labels: LDK, LDK Solar, solar charts, Solar Stocks
JA Solar reporting earnings
Earnings Date:
May 11, 2010
Q1 2010 Earnings Release - 9:30AM EDT
Analysts, on average, expect JA Solar (NASDAQ:JASO) to report earnings of $0.18 on sales of $265 million on May 11, 2010.
For the full year, analysts expect the company to post EPS of $0.52. In the year-ago period, the company reported a loss of $0.18 on sales of $34 million.
In the previous quarter, the company reported EPS of $0.17, topping consensus estimates of $0.12.
JASO is near the 2010 Highs. Moving above $7 could prove very bullish for this stock:
Labels: Earnings, JA Solar Holdings Co., JASO, solar charts, Solar Stocks
First Solar Releases its Quarterly Earnings on April 28
Analysts, on average, expect First Solar (NASDAQ:FSLR) to report earnings of $1.65 on sales of $539 million on April 28, 2010.
For the full year, analysts expect the company to post EPS of $6.13. In the year-ago period, the company reported EPS of $1.99 on sales of $418 million.
In the previous quarter, the company reported EPS of $1.65, topping consensus estimates of $1.51.
First Solar, Inc. Chart:
Labels: Earnings, FSLR, solar charts, Solar Stocks, solarstocks
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
JA Solar Raises Shipment Guidance
With the positive news from JASO, not only is the best solar stock performance in these last weeks, but managed to uplift the whole sector with gains above 5% in many of the leading solar stocks.
JA Solar Holdings Co., Ltd. (Nasdaq: JASO), a leading manufacturer of high-performance solar products, today announced revised guidance for its first quarter ended March 31, 2010. Based on current customer orders and product deliveries, JA Solar now projects first quarter shipments to exceed 265MW, above the high-end of its previous guidance of 215MW to 225MW given on Feb. 11, 2010.
"During the first quarter, we saw robust demand from existing and new customers," said Dr. Peng Fang, CEO of JA Solar. "By streamlining the company's existing solar cell manufacturing facility, JA Solar is able to achieve higher than expected production to meet strong customer orders. We also won several new European customers during the quarter, which further diversified our customer base and provides better visibility for the full year."
...
The company expects to report its first quarter results in mid-May, and plans to provide guidance for the second quarter of 2010 and updated full-year 2010 guidance at that time.
Source: PR Newswire
Labels: JA Solar Holdings Co., JASO, solar charts, Solar power, Solar Stocks, Solar Technology
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
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
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
Market Concerns
Markets across the world are having one of the worst losses in a day, with Europe and US economic problems in the major headlines.
Solar stocks continue to follow:
Claymore/MAC Global Solar Index (Solar Stock ETF) Chart:
Labels: Claymore, solar charts, solar ETF, Solar Stocks, TAN
Solar Stock ETF TAN
Claymore/MAC Global Solar Index (ETF) Update
The solar stock ETF TAN seems to be pointing down, with the recent correction across all markets. The chart seems to be pointing to a support near the $10 line near the 50 day moving average.
Most solar stocks still look bearish for the very short term, so the Bulls better keep waiting...
Labels: ETF, Global Solar Index, MAC, solar charts, solar ETF, Solar Stocks, TAN
SunPower Corporation Upgraded
SunPower Corporation (SPWRA) was upgraded by some analysts, and moved yesterday into new highs.
Macquarie upgraded SPWRA from Underperform to Neutral, and raised price target from $23.50 to $30.
Looking at the chart, there is a price resistance around $34, and if today we get to close above that price, we could be at the beginning of another bullish rally for this solar stock.
With Crude Oil getting very close to $80, Solar Stocks might have enough momentum to keep the current short-term trend up. Most Solar Stocks are now pointing up such as First Solar (FSLR) and Suntech Power (STP), etc..
In my opinion it's the perfect time to jump in now, for a quick trade, as long as today's movement in Solars keeps going up.
Labels: Bullish, First Solar Inc, solar analysis, solar charts, Solar Stocks, SPWRA, SunPower Corp, Suntech Power
Solar Reversal ?
Solar Stocks started last week with a strong bullish run, with a technical short-term swing buy signal, but the winning streak seems to be over today, with most solar stocks in the negative territory.
Sun Power Corporation and
Suntech Power Holdings Co. are the perfect examples for today's charts.
SPWRA touched a price resistance around $33 and seems to be pointing down for the short-term.
STP backed away form the 50day moving average so watch out for a possible support near the 200MA or $14
Tomorrow we will get the confirmation, if the market keeps heading down, or if it's just another Bear Trap. Intel's earnings today can make a lot of difference.
Labels: solar charts, Solar Stocks, SPWRA, STP, SunPower Corp, Suntech Power
