Shares of SunPower (SPWRA) began diving yesterday even before the announcement was made. Then the reason for the selling became apparent a few hours later as the company posted worse than expected preliminary results. The company now expects lower gross margins and a wide loss on the quarter due to tough conditions in Germany and Italy. Now the company expects gross margins to come in at 12-13% vs the previous estimate for 15-17% and … Read the rest
All posts by Tate Dwinnell
Westinghouse Solar (WEST) Named Supplier For Lennar Homes Solar Initiative
Westinghouse Solar (WEST), formerly Akeena Solar, is soaring around 40% this morning on news that Lennar (LEN), one of the nation’s largest homebuilders, has named the company as a supplier of solar systems for new home buyers. The multi-year agreement will have WEST supplying its solar AC systems for new homes in select communities in Texas as part of Lennar’s “Everything Included” program. No word on the financials of the deal.
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Altair Nanotechnologies (ALTI) Surging On Closing Of Big Investment
This was an investment announced quite awhile awhile ago, but it’s being announced this morning that the $57 million investment in Altair Nanotechnologies (ALTI) by Canon Investment Holdings is finally closing. The investment will result in a majority ownership stake for Canon, but it was necessary for ALTI to survive and make a run at a big push in the China market.
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Canon chairman Wei Yincang … Read the rest
Ener1 (HEV) Expanding Into China Market With Wanxiang Electric Joint Venture
Ener1 (HEV) and Wanxiang Electric Vehicle Co. announced that the Chinese government has approved their joint venture to co-manufacture lithium-ion storage energy systems for the China market. The new company will initially focus on fulfilling existing contracts with State Grid, the largest power supplier in China. The projects include electric buses and cars as well as grid storage systems. In the future, the joint venture company could fulfill orders for other customers such as SAIC … Read the rest
Kandi Technologies (KNDI) Surges After Announcing Strategic Partnership With Hangzhou Electric Vehicle, Bottom Is In
I believe the bottom is in on Kandi Technologies (KNDI) with today’s 20%+ surge on news it will expand its relationship with Hangzhou Electric Vehicle Service which opens the door for Kandi electric cars to be used in a pure electric vehicle pilot program in the Hangzhou province (around 20K vehicles). In addition to ensuring that the electric vehicle infrastructure meets Kandi’s technical and infrastructure needs, HEVS will also leverage and promote Kandi’s unique “Express … Read the rest
EnerNOC (ENOC) Acquires Largest Demand Response Provider In Australia & New Zealand
EnerNOC (ENOC) announced a big acquisition last night picking up the largest demand response provider in Australia and New Zealand. The acquisition more than doubles ENOC’s capacity in western Australia to 240MW and marks the company’s entry into the eastern market as well as the New Zealand market for the first time. ENOC will eventually be providing its real time monitoring suite of applications and services to Energy Response clients. The acquisition is expected to … Read the rest
What Happened To JA Solar (JASO)?
Late yesterday shares of JA Solar (JASO) spiked lower out of the blue with no news being reported. Many are wondering what happened and of course the speculation is swirling. The rumors range from another “fat finger” event (aka accidental sell) to a short raid to imminent bad news. Whatever the reason it’s not going to give traders any confidence in shares of JA Solar for some time as shares continue to plunge lower and … Read the rest
Daqo New Energy (DQ) Slashes Guidance, Shares Hold Steady
Daqo New Energy (DQ) is out this morning slashing guidance for Q2 due to fewer shipments across wafers and modules as well as declining ASP’s. The company now sees revenues in the range of $70 – $71 million vs the previous expectation for $92 – $95 million. They see poly shipments of 970 – 990MT, .7 MW of wafer shipments and 12MW of module shipments.
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Shares … Read the rest
JA Solar (JASO) More Than Doubles Internal Wafer Capacity With Silver Age Acquisition
JA Solar (JASO) continues to find ways to expand capacity. You might remember that back in February the company announced a 3 year, $2 billion expansion plan. This morning the company announced an acquisition of Virgin Islands based Silver Age Holdings for $180 million in stock. Silver Age owns a leading solar wafer producer in China with an annual solar wafer capacity of 485MW. The company also produces quartz crucibles which is a key material … Read the rest
Quantum Fuel Systems (QTWW) Reports Narrower EPS Loss On Record Revenue, Shares Still Bullish In Short Term
Shares of Quantum Fuel Systems (QTWW) are having a good morning, up over 10% on news the company reported a record revenue number of $8.2 million which was well ahead of the analyst estimate of $5.6 million. The company is attributing the surge to increased development program revenue and product shipments to Fisker of its Q-Drive components for electric cars. The EPS loss narrowed this quarter to .02/share, but much of that was due to … Read the rest