Just when you think the news in the solar industry can’t get any worse, the negative headlines continue to flow. Today, several solar stocks were hit again as the big German solar company Conergy indicated that selling prices will continue to fall (below production costs in many cases) as price wars heat up in the face of declining demand and further cuts in German subsidies. These comments really don’t come as a surprise and aren’t … Read the rest
All posts by Tate Dwinnell
Piper Jaffray: Cree Inc (CREE) Remains LED Leader In China
According to Benzinga, Piper Jaffray published a bullish research report on Cree Inc (CREE) saying the company remains the LED leader in China and that China based LED companies are still 2-3 years behind on technology. As a result, the firm believes CREE will be a big beneficiary of the ongoing demand for LED street lamps which is a market they believe will grow another 80% this year. CREE currently owns a 70% share … Read the rest
Can It Get Any Worse For First Solar (FSLR)?
I’ve been traveling in Panama, so have some earnings reports to catch up on. First Solar (FSLR) reported after the bell on Tuesday and it wasn’t pretty. The company missed badly on a non GAAP basis in addition to reporting a hefty one time loss which included $125 million for faulty panels produced a few years ago. The company reported a non GAAP EPS of $1.26/share vs the analyst estimate for $1.53 on revenue of … Read the rest
A123 Systems (AONE) Will Supply Lithium Batteries For Tata Motors (TTM) Commercial Vehicles
Some much needed news this morning for a company that continues to struggle and bleed red ink- A123 Systems (AONE). Many wonder whether this company ultimately survives and that’s reflected in the stock price which plunged about 80% last year. This morning the company has announced it will be the lithium battery supplier for Tata Motors (TTM) commercial vehicles. Tata is India’s largest vehicle manufacturer so the news isn’t insignificant.
A123’s highly scalable and versatile … Read the rest
Sunpower (SPWR) Posts Surprise Non GAAP Profit, Shares Soar Then Slide
Sunpower (SPWR), the big US solar power manufacturer and project developer, posted a surprising non GAAP profit after the bell last night and the stock has rocketed higher today on heavy volume. The CEO acknowledged it was a messy quarter of one time adjustments and costs, but on an adjusted basis taking out one time charges, the company posted .16/share in profit which was well ahead of analyst estimates that called for a .05/share loss. … Read the rest
Suntech Power (STP) Posts Better Than Expected Prelim Results
Suntech Power (STP) is out this morning posting preliminary results for Q4 2011 and the results are considerably better than expected. The stock soared at the open up around 20%, but has given much of that back and is currently up around 12% on heavy volume.
The company says it has exceeded previous guidance and will post revenues in the $610 – $630 million range with full year shipments above the previous guidance of 2GW … Read the rest
Tesla (TSLA) Reports Mixed Results, But Sees Strong Model X Demand
Tesla Motors (TSLA) reported earnings last night that were mixed. Quite frankly I couldn’t care about earnings with Tesla right now and I think most analysts would agree. This is still a development stage company that has yet to test the “more mainstream” electric car market. For now this is a company trading on potential and many have high hopes for both the Model S electric sedan expected to hit the streets in July as … Read the rest
Itron (ITRI) Surges After Smashing Estimates, Acquires SmartSynch
Itron (ITRI) continues its torrid run off the bottom after reporting earnings results that smashed analyst estimates. The company reported a non GAAP EPS of $1.19/share on revenues of $642 million vs the analyst estimates for .87 EPS on revenues of $547 million. That’s a sequential revenue increase of 4% sequentially and 8% quarter over quarter.
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“Our fourth quarter results produced record revenue and cash … Read the rest
MEMC Electronic Materials (WFR) Misses, Offers No Guidance, Shares Hold Steady
MEMC Electronic Materials (WFR) reported mixed results last night with a non GAAP EPS loss a bit wider than expected at .09 vs the analyst estimate for a .06/share loss, but on better than expected revenues of $772 million (down 19% over the year ago quarter). Shares were likely trading up pre-market because the non-GAAP loss wasn’t quite as severe as the company has expected about a month ago.
Nexxus Lighting (NEXS) Announces New LED To Replace Incandescent BR30 65W
Nexxus Lighting (NEXS) made a key technical move a couple days ago, surging with heavy volume above the 50 day moving average on news the company will commercially sell its new LED BR30 bulb in March.
The LED is expected to replace the incandescent 65W BR30 bulb and use about 85% less energy. It incorporates an enhanced dimming circuit, 2nd generation technology allowing for significant reductions in cost and weight and is expected to exceed … Read the rest