LDK Solar (LDK) reported mixed results after the bell yesterday, reporting an EPS loss of .21/share vs analyst expectations of a smaller loss .06/share as well as the whisper number of a .12/share loss, so no surprise the stock is off this morning. I’ts trading down about 13% but off the lows and appears to be finding support at the 50 day moving average. Revenues actually came in ahead of estimates at $283 million which … Read the rest
All posts by Tate Dwinnell
GE Energy (GE) Hooks Colorado Springs Utilities Up With Smart Grid Technologies
GE Energy just announced that it has installed smart grid technologies for Colorado Springs Utilities to help them better manage power flow and customer communication in their service area. Here’s more on the announcement, from Trading Markets:
The newly installed GE PowerOn Outage Management System (OMS) helps CSU respond more quickly to power outages, while providing consumers with updated restoration-time estimates when outages do occur.
GE said that it is currently enhancing the system … Read the rest
Green Plains Renewable Energy (GPRE ) Will Buy Two Nebraskan Ethanol Plants
Green Plains Renewable Energy just announced that it has signed agreements to buy 2 Nebraskan ethanol plants. By purchasing these plants, Green Plains Renewable Energy will be able to produce 480 million gallons of ethanol each year, 45% more than it currently produces. It will also become the 4th largest US ethanol producer. The company will pay $123.5 million for the plants. The deal is being financed by AgStar Financial Services, and Green Plains Renewable … Read the rest
ReneSola (SOL) Acquires JC Solar For Downstream Integration
Along with its earnings announcement this morning, ReneSola (SOL) also announced the acquisition of JC Solar for RMB 118 million. JC Solar is an established solar cell and module manufacturer with about 300 employees and annual cell production capacity of 25MW and annual module production capacity of 50MW. It posted an unaudited net profit of RMB 69 million last year. The move is a first step towards downstream integration for ReneSola and gets the company … Read the rest
LDK Solar (LDK) Announces Further Write Downs of $87.5 Million
LDK Solar (LDK) is announcing today it is modifying its previous preliminary unaudited financial results for the 4th quarter and fiscal year 2008, to reflect an additional write down of about $87.5 million to its inventories and an additional provision of $12.3 for prepayments to suppliers it may not recover. The modification comes as result of updated info about the estimated net realizable value of LDK’s inventories as well as its suppliers ability to honor … Read the rest
ReneSola (SOL) Misses Estimates
ReneSola (SOL) missed on both EPS and revenue consensus estimates and the stock is taking a bit of a hit as a result, off about 8% and testing the 50 day moving average. The company reported an earnings per ADS of .04/share, just below estimates of .06 while revenues came in shy of expectations at $107 million vs estimates of $113 million. As we saw with Suntech, the company is doing a good job of … Read the rest
EMCORE (EMKR) In Supply Agreement With Space Systems Loral
EMCORE just announced that it has entered into a supply agreement with Space Systems Loral. Under the agreement, EMCORE will produce high-efficiency, multi-junction PV cells and provide them to Space Systems Loral for use in their spacecraft program. The contract runs from this year until 2014.
In a press release, executives from EMCORE commented on the deal:
Christopher Larocca, Executive Vice President and General Manager of EMCORE’s Solar Photovoltaics Division, stated, "We have been … Read the rest
New Fuel Standards May Give BorgWarner (BWA) and Johnson Controls (JCI) A Boost
The government’s new fuel standards may give a life to BorgWarner and Johnson Controls, according to Chicago’s Daily Herald. The new mileage standards require automakers to raise the average efficiency of the vehicles they sell to 35.5 miles per gallon by 2016.
BorgWarner could benefit from these standards by selling its superchargers to give small, more efficient engines more power, while Johnson Control’s work in the field of lithium batteries could pay off as hybrids … Read the rest
Suntech Power (STP) Beats On Earnings, Light On Revenues
Suntech Power (STP) is back in the black with improving margins, posting an EPS of .01 share vs analyst estimates of a .06/loss. However, revenues were very light at $315 million, missing estimates of $360 million. It represents the first quarter of negative quarter over quarter revenue growth in company history, so certainly not much reason for optimism on this report outside of the improving margins. The CEO is enthusiastic though, noting that revenues “only” … Read the rest
Class Action Lawsuit Filed Against Akeena Solar (AKNS)
On Monday, one of Akeena Solar’s investors filed a class action lawsuit against the company. The lawsuit alleges that the way Akeena Solar disclosed information about itself violated the law, and potential members of the class include anyone who bought stock in the company from December 26, 2007 through March 13, 2008. Here’s more from a press release about the lawsuit, including the deadlines, contact info, and the rationale behind it:
Deadline: July 17, 2009. … Read the rest