Westinghouse Solar (WEST), formerly Akeena Solar (AKNS), is a company I discontinued coverage on for some time as the red ink continued (and continues) to flow, but yesterday the stock soared nearly 150% to nearly $2.50/share on news it will unveil the world’s first fully integrated AC solar panel at the Intersolar 2011 trade show in Germany in about a week. The new 235 watt panels feature an integrated frame as well as other enhancements … Read the rest
All posts by Tate Dwinnell
Jim Chanos At It Again, Bashing Green Energy: First Solar (FSLR) & Vestas Wind Systems (VWSYF)
Jim Chanos has been increasingly vocal about his bearishness on green energy, particularly solar. In April he was quite vocal about his short interest and the issues at First Solar (FSLR). According to the WSJ, he also highlighted Vestas Wind Systems (VWSYF) as a company that could go much lower. Both stocks continued lower today with First Solar taking out another key support area around the $120 level.
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Tesla Motors (TSLA) Breaks Out Of Cup With Handle Base On Secondary Offering
Usually announcements of secondary offerings can derail a stock at least in the short term, but yesterday shares of Tesla Motors (TSLA) broke out of a large cup with handle base with heavy volume after the company announced a follow on offering of 5.3 million shares to fund the development of its Model X crossover vehicle. This announcement in and of itself would not have lead to a breakout.
Suntech Power (STP) About Matches Estimates Minus Forex Hit, But Revises Full YR Rev Guidance Down; Shares Bid Up Anyway
Not a bad earnings report out of Suntech Power (STP) last night. The company took a forex hit of about $30 million and when you take that out, the company just about matched the analyst estimate of .35/share. The company reported a .34/share gain minus the forex hit on revenues of $877 which were a bit above the estimate for $863. Gross margins hung in there at 19% which was just slightly below last quarter’s … Read the rest
American Superconductor (AMSC) CEO Steps Aside Amidst Turmoil
American Superconductor (AMSC) CEO Greg Yurek was planning to retire for several months according to the company, but the recent lack of transparency, pending lawsuits and a plummeting stock price has no doubt led to a bit earlier than expected retirement for CEO and founder Greg Yurek. Current President and COO Daniel McGahn will take over as CEO while Yurek will continue to serve as Chairman of the Board for a few more months, then … Read the rest
Quantum Fuel Systems (QTWW) Surged On 100 Electric Ford F150 Deal With Dow Chemical
Quantum Fuel Systems (QTWW) surged with heavy volume off the 50 day moving average yesterday on news the company won a contract with Dow Chemical (DOW) to deliver 100 plug-in hybrid Ford F150 pickups (about 5% of Dow’s fleet). The vehicles will use Quantum’s proprietary F-Drive system developed specifically for the Ford F150 along with Dow Kokam lithium battery technology. The truck has a 35 mile all electric range and a 400 mile range in … Read the rest
Hanwha SolarOne (HSOL) Rebounding After Forecasting Solar Rebound In 2nd Half
Hanwha SolarOne (HSOL) is surging nearly 10% today, but off a nearly two year bottom. Perhaps it’s a buy the news kind of day for HSOL as traders believe the worst is over. However, the downtrend remains firmly in place for now so it’s too soon to jump in.
The company reported mixed results with an EPS of .28/share vs the analyst estimate for .29/share on revenues of $335 million which topped the analyst estimate … Read the rest
GT Solar (SOLR) Breaks To Another New Multi Year High After Beating Estimates, Raising Guidance
GT Solar (SOLR) is having a good morning but off the highs of the day after beating earnings estimates and raising guidance. The company reported an EPS of .41/share on revenues of $272 million vs the analyst estimate for .34/share on revenues of $224 million. That’s good for quarter over quarter increases of 78% and 40% respectively. Looking ahead, the company is raising guidance as well and now expects its full year EPS range at … Read the rest
Broadwind Energy (BWEN) Wins $1.37 Million Contract From DOE
Shares of Broadwind Energy (BWEN) are spiking today on news the DOE has awarded the company a $1.37 million contract for the design and construction of a 5.8MW wind turbine gearbox for a new dynamometer at its National Wind Technology Center. The facility provides the wind energy industry with customized testing with the dynamometer allowing companies to verify the performance and reliability of wind turbine drivetrain prototypes.
===> Click Here For Your FREE Broadwind Energy … Read the rest
Yingli Green Energy (YGE) Headed To 2010 Lows After Missing Estimates
Along with LDK Solar (LDK), it wasn’t a good day for Yingli Green Energy (YGE) on Friday as the stock plunged with heavy volume after missing earnings estimates. The stock appears headed for a test of the 2010 lows which is the case for many of the China solar stocks.
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The company reported an EPS of .38/share on revenues of $527 million which represents … Read the rest