Nigel Coe, a Deutsche Bank analyst, downgraded Kaydon Corporation’s stock from "Hold" to "Buy," causing shares in the company to tumble. Coe also reduced his earnings per share estimate for the stock, dropping it from $2.01 to $1.76. Afterwards, Kaydon stock decreased in value by $2.02, closing at $31.10 on Friday.
Coe downgraded the stock based "on concerns about the stock’s relative strength, as well as weakness in the company’s core bearings business."
Suntech Power Holdings announced that last year it reached its company goal of achieving 1GW capacity for both solar cells and modules. Suntech claims they are the first solar company to reach both of these goals simultaneously. However, in response to the current economic situation, Suntech plans to keep production at 1GW throughout 2009, instead of continuing its expansion as originally planned. Suntech’s Chairman and CEO, Dr. Zhengrong Shi, commented on the achievement:
… Read the rest"We are
According to analysts at MDB Capital, if you’re holding on to Ener1 stock, now may be the time to let it go. The reason? Think Global, Ener1’s major customer, has run into some financial difficulties. Here’s a quote from the analysts published on StreetInsider.com:
… Read the rest"Think Global, Ener1’s most important near-term customer, announced it was temporarily halting production of its Think City electric vehicle due to working capital constraints. The company, which unsuccessfully approached the
DMI industries, an operating company of Otter Tail, just announced that it will be cutting its workforce by 20% due to the current economic situation. The company will start 2009 with 750 employees in total, 150 more than at the beginning of 2008. The workers who have been laid off will be provided benefits and compensation for a transition period.
Here’s what DMI president Stefan Nilsson had to say about the layoffs:
… Read the rest"We remain committed
Zoltek has released a statement regarding the natural gas supply disruption in Europe and how it is expected to affect their operations. Currently, Zoltek does not anticipate any disruption in its business operations in Hungary. The company guards against supply shortages by maintaining inventories of both precursors and finished goods. Should the shortage continue, Zoltek can utilize precursor from its plant in Mexico.
Here’s what Zoltec’s Chairman and CEO, Zsolt Rumy, has to say about … Read the rest
Firefighters in Delphi, Indiana were able to bring a fire at the Anderson’s facility under control after a week of work. An enormous pile of corncobs caught fire last week, requiring 46 fire departments from 13 counties to contain the blaze. The firefighters at the scene were released on January 4th, once the fire had been brought down to an "under watch, controlled burn."
How will this incident affect the already-struggling ethanol company? According … Read the rest
American Superconductor Corporation announced that it has received an order for its Turnkey D-Var system from Basin Electric Power Cooperative, one of the largest producers and distributors of electricity in the US. The D-VAR (“STATCOM”) reactive compensation solution will be installed near Wright, Wyoming, and used to maintain the stability and reliability of the electric power grid in the area.
According to Virtualization.sys-con.com, the D-Var system will "have a continuous rating of 34 mega-volt-amperes reactive … Read the rest
Yingli Green Energy announced last week that it just acquired a polysilicon producer to further its vertical integration strategy. Negotiations are complete, and Yingli now owns Cyber Power Group Limited, the parent company of Fine Silicon Co, Ltd. Yingli paid $77.6 million for the company, which is expected to begin producing polysilicon in the second half of this year. According to JLM Pacific Epoch, Yingli chief financial officer Zongwei Li advised that this purchase … Read the rest
The order, placed by an undisclosed German solar integrator, was for 200 MW worth of solar panels. Solar Power, Inc, recently received IEC certification for its products, and the company expects the certification to create increased demand for its products, particularly in Europe.
Bradley Ferrell, president of SPI’s commercial sales division, commented on the sale:
… Read the rest“Our recent IEC certification and this transaction mark what we believe to be the beginning of important new opportunities for
Emcore announced yesterday in an SEC filing that it will slash its workforce to help the company cope with the liquidity issues it is currently facing. The scope of the job cuts was not disclosed in the filing, and they are only one part of a package of cost-cutting measures that Emcore plans to take. From PVtech.org, here are some of the other ways that Emcore is planning to address this issue:
… Read the restEMCORE is also